The Brexit End-Of-The-World Scenario
Submitted by gjohnsit on Wed, 06/29/2016 - 11:33am
The Remain camp warned us.
The irrepressibly mediocre Donald Tusk, president of the European Council, posing as a “historian”, had warned that Brexit, “could be the beginning of the destruction of not only the EU but Western political civilization in its entirety”
The Bremain camp pleaded with us.
Earlier in the day, Eurasia Group President Ian Bremmer tweeted that the Brexit is “the most significant political risk the world has experienced since the Cuban Missile Crisis.”
David Cameron told us the consequences for ignoring their advice.
Protections for state pensions, the NHS and defence spending cannot be guaranteed if Britain leaves the EU, David Cameron has warned.
The Prime Minister said the strain on the public finances caused by Brexit would threaten the end of the "triple lock" guarantee for OAP payments and the ring-fencing of health funding.
And Chancellor George Osborne said the armed forces could see their budgets slashed by £1-£1.5 billion a year as the wider economy shrank.
Rivers of blood! Fire from the sky! Plagues of locust!
Do you get the picture?
But you refused to listen. Now look at the destruction you have brought down upon us!
FTSE 100 recovers post-Brexit losses to close at two-month highLondon's FTSE 100 has erases its post Brexit losses and is now up some 0.5% since the Brexit vote.
The blue chip index closed at its highest level since April at 6,360.06, up 3.58% on the day.
Wait, what? Did we miss the world ending?
Traders say the better mood was partly the result of a swing in expectations towards easier monetary policy over the next six months, and partly due to hopes that Britain will remain closely integrated with Europe whatever deal is done.
Boy that was a close one. The two-day Armageddon is over. Good thing the elites warned us beforehand, right?
Comments
And if we don't stand fast with austerity and balanced budgets,
interest rates will skyrocket. No, wait...
chuck utzman
TULSI 2020
A long term prediction for the stock market:
"I predict that it will fluctuate"
"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"
Elites are stupid.
It's when they start saying all is well I'll start worrying.
When life looks like Easy Street, there's danger at your door.
[video:https://youtu.be/n4-_V__GUro width:480 height:360]
"US govt/military = bad. Russian govt/military = bad. Any politician wanting power = bad. Anyone wielding power = bad." --Shahryar
"All power corrupts absolutely!" -- thanatokephaloides
How to make a small fortune in the stock market ...
First you start with a large fortune. Then you listen to the experts and pundits. Voila! A small fortune is yours!
Retail investors are at the mercy of both the market
manipulators and the storefront brokers who make the trades for them. They also are last in line to get important information they need. Retail investors have the odds stocked against them.
"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"
That's Trump's real estate strategy
Great minds thing alike!
The Brexit Bailout is coming
Just another excuse to hand over billions of dollars in taxpayer dollars to "rescue" the financial crisis capitalists so they can keep hl"helping" us.
"They'll say we're disturbing the peace, but there is no peace. What really bothers them is that we are disturbing the war." Howard Zinn
bounces are very common in stocks after big crashes
in stock trading we have a term -- "dead cat bounce" - to describe a singular bounce that can't be sustained into a true rally or recovery.
it is too soon to say if this rally will hold. and political events must play out--- will british pols trigger article 50? will merkel back up her threat to negotiate tough with UK? will scotland leave? depending on how these things play out, it could get interesting.
i like how conservatives cast their God of 'free trade' into Hell in exchange for the false promise of halted immigration.
did 9 months in California prison, because Neoliberal Democrats and GOP maggots work together to profit off the drug war
The market
FWIW is oversold because interest rates are so low (making bonds a less attractive investment), and multinational companies have been using their off-shored profits to buy back stocks, thus artificially increasing the price. In effect, the stock market has been a big bubble for some time, propped up by unsustainable monetary policy. You will note that the market peaked (as measured by the Dow) at a little over 18,000 for the first time in 2014. Since then it has fluctuated between 17,000 and 18,000 for the most part with one major exception - when the Dow fell to just under 16,000 in early February of this year. That drop was primarily related to reported problems/issues with the Chinese economy and falling oil prices. By lat February, with oil higher, the markets began to recover and since then the Dow has once more bounced around between 17,000 and 18,000. In brief it has essentially been flat for the past 2 years, other than that one big drop in February.
I'd be shocked to see the stock market go on another bull run this year or next. At some point, there will be a correction or worse, a major bear market, in which stock prices will decline 10-30 percent, perhaps more depending on what crisis causes the "crash." It's inevitable.
"You can't just leave those who created the problem in charge of the solution."---Tyree Scott
agreed
did 9 months in California prison, because Neoliberal Democrats and GOP maggots work together to profit off the drug war
I came out of bunker this morning
Darn it everything was the same- nothing changed. No cats and dogs living together, no end of the world that the Elites had predicted. Matter of fact with the British pound being cheaper it will stimulate more trade for the UK- go figure.
To me this move is a good thing. It is not evil, greed, racism but it focuses on ensuring people and parties are equal partners. The Elites have made a lot of money during the globalist efforts during the past 30+ years it is time to pay the piper and actually give up some (their fair share) of their wealth.
keep in mind
someone didn't make obscene shitloads of cash for those two days.
clearly that person has plenty of media influence.
GIANT ALL-CAPS SIG
One of these things is not like the other...
Can you guess which one, before my song is done...
Democrats, we tried to warn you. How is that guilt and shame working out?
Article 50 hasn't been invoked.
That's critical. Cameron originally said if the "Leave" vote won, he would invoke Article 50 the next day. He didn't.
If he had, the clock would start ticking and within 2 years the UK would be out of the EU.
At this point, all that has happened is that a non-binding, advisory referendum won by over 1 million votes. The political leadership in the UK is still largely opposed and will do everything it can to try to bury the issue. Corbyn's attempted removal and the attemped Labour Coup is probably part of this equation too -- he said that he would respect the vote. That's clearly not an acceptable option for the UK's political class. The Lib Dems have said they wouldn't comply with the referendum. Does anyone think the Blairites will if they succeed at removing Corbyn? Will the conservatives comply? Boris Johnson has been largely AWOL since the vote. A bunch of the people running to replace Cameron actively campaigned to "Remain".
If Brexit ever actually happens I don't expect the markets to respond well. But if all that we have is a non-binding referendum, materially what has changed, other than the fact that one MP is dead and there are a lot of frayed nerves and hurt feelings? I think this is how investors/speculators are responding. Initially there was panic over the outcome of the referendum. However, the key detail is that the trigger still hasn't been pulled with respect to Article 50 and Cameron has already promised to punt on the issue.
The claims about the end of western civilization and the worst crisis since the Cuban Missile crisis, are obviously absurd, just as they always were. However, if the UK actually leaves the EU, and we have more than just a non-binding referendum, I do think this will rattle the markets all over again, because of the second and third order effects (e.g. Scotish and Irish independence, a break up of the UK, and a further break up of the EU). As things stand, people were spooked by the possibility of a Brexit, but what we are seeing is a recognition that the referendum doesn't actually compel political leaders to do anything.
In the interim, I think the British pound will continue to trade at a discount until there is more clarity about whether or not Brexit will actually take place.
Corbyn told his MPs to sod off after the vote
He pointed out that he was elected by the party membership, not the MPs.
We can’t save the world by playing by the rules, because the rules have to be changed.
- Greta Thunberg
He also has the backing of chairs of local constituencies.
He has a strong change to survive a challenge if he's on the ballot, which is part of the reason that the MPs are block him from running again.
Quelle surprise!!
"Cameron originally said if the "Leave" vote won, he would invoke Article 50 the next day. He didn't."
And the elitist pols wonder why they have no credibility. n/t
Excellent!
The WS banksters run this play every so often. Forgot how many times the 'end of the world market crashes' happened wrt Greece/Grexit! The fear and doom predictions by the elite did not work this time with the Brexit. 4 days after the referendum, all is good and service is restored. I have a funny feeling that the clock on this 'non-binding referendum' has very good batteries!
And this is waht the billionaires did...
The moment the pound sterling crashed, they bought tons of pounds sterling AND THEY ARE EVEN WEALTHIER TODAY!
"I can't understand why people are frightened of new ideas. I'm frightened of the old ones."
John Cage
Now you're getting it.
A money manager for JP Morgan explained it to me (just before he "left the company") first JP buys a stock, say at $90. They buy so much of the stock that it raises the price to say $110. (JP has the resources to do that to an entire market) Then they sell - at $110 - and they sell so much that they crash it, lowering the price to say $90. Then they buy it back, raising the price back up to $110. See how it works?
On to Biden since 1973
Class: The defining Brexit issue
link
Great Spectator article. I clicked
on the link, read the whole piece, and am glad I did. Made its point in a most amusing, well written way.
Only connect. - E.M. Forster