Re: Did the UK do the right thing in voting to leave the E.U.
 

Not everyone sees it in the same light as the UKIPpesr and Jingoists. Ian Jack reckons the three great disasters of British Foreign policy have been Munich, Suez and Brexit


Scottish Review: Ian Jack

Re: Did the UK do the right thing in voting to leave the E.U.
 

Just admit you were wrong and leave it at that. Instead you have to turn it into how you are an expert at apologising. Don't confuse giving up on repeating the same thing time and time again to you with 'going quiet'.

Why would people sell their place of abode and have to buy a replacement, invariably at a higher price, because of the exchange rate of the pound? Owner occupiers far outnumber landlords or people with UK property who live overseas. The behaviour of owner occupiers will be different to that of investors usually.

Re: Did the UK do the right thing in voting to leave the E.U.
 

The truth hurts eh?

Ah. House of abode. Massaged to suit agenda.

Anyhow. What the difference? If you live in the UK and have cash or if you have a property investment, one would assume (according to you and your mate) the UK is about to hit the floor.

Either way both are heading south in terms of value (according to the principles of you and your mate). Time to get out right? But hang on. You said that you would be buying at a later time for a higher price. How does that work on the principles of what Brexit will do to the economy?

Re: Did the UK do the right thing in voting to leave the E.U.
 

Strikes me that in general, a financial crisis occurs as a result of a lack of consumer/investor confidence and panick selling/buying, resulting from financial analysts warning of an impending financial crisis.

What we really need to do is shut these analysts up, so us financial retards can carry on oblivious.

Re: Did the UK do the right thing in voting to leave the E.U.
 

Absolutely, and currency fluctuations tend to occur on future events.

Clearly the decline in the pound was generated on a "what if" scenario and future declines may have already been factored in.

Only time will tell.

Re: Did the UK do the right thing in voting to leave the E.U.
 

Wow, comparing Brexit to Munich? Pathetic. Munich was a disaster but totally and utterly irrelevant to Brexit. In 1938, a weak British government was seeking to appease a belligerent and expansionist Hitler - partly to avoid war and partly to buy time to continue their own rearmament. We now know, with hindsight, the Germany was also not really ready in 1938 too (and if Hitler had listened to his generals, would not have been until 1943). Totally and utterly different to Brexit - the threats and reality are in a completely different context

Suez was a disaster but the UK was already in structural decline in 1956 - WW2 and the ensuing socialist agenda of their postwar government had seen to that. Suez just hurried this decline along some and the UK expanded economically in the 1960's anyway

There's a lot being written about Brexit and rightly so - it's a momentous event, but remember, this article is just someone's opinion, which is no more relevant/irrelevant as yours or mine

Brexit is a mistake but that's democracy. The people have voted to leave the EU. End of

Re: Did the UK do the right thing in voting to leave the E.U.
 

Truth and you don't sit together often as bedfellows.

Scenario - you are one of over 20 million households in Britain who live in their own home. You are suggesting that lots of these sell up or emigrate because of the exchange rate, Brexit etc. That's pure and unadulterated p*sh and I'm not going to point out to you the difference between speculative property and house of abode if you can't see it.

Re: Did the UK do the right thing in voting to leave the E.U.
 

I will settle for the property investment but if you want to push the house of abode thing, you'll just be arguing with yourself again.

Re: Did the UK do the right thing in voting to leave the E.U.
 

1st you think advice to sell up cash assets is a call to sell your house.

Then you ask why if the advice is to sell up cash assets shouldn't you sell your house as well. ..............

Next you claim exchange rates move mainly on future things. The EU referendum is still to happen you are suggesting? Economics/Business lesson early on - E/R's depend upon inflation rates, interest rates, balance of payments particularly current account and balance/terms of trade, government debt, political stability, recession, speculation, levels of foreign and portfolio investment and so on. If you pick out 'future' from that lot you are vastly oversimplifying a complicated process.

Re: Did the UK do the right thing in voting to leave the E.U.
 

You are attempting to argue with yourself again.

Correct. Did the pound drop upon the UK leaving the EU even though it hasn't left the EU yet? Its called a future.

I am going to enjoy watching you explain to us how the UK has already left the EU.

Re: Did the UK do the right thing in voting to leave the E.U.
 

The UK DECIDED to leave the EU on referendum day. It happened - the pound plunged immediately because of this and its implications. If the vote was to remain the markets wouldn't have reacted in the same way. We don't yet know the details of what this entails but the pound has fallen over 20% because of this.

When stats come out for production, employment, inflation, balance of payments, business confidence; when the BofE decides to cut or maintain interest rates, these all affect the E/R and they are reporting on the last 3 months or the present.

Exchange rates partly depend on the outlook for the future - not mainly. You can argue as much as you want but you are wrong, simple. Past, present and future shape the E/R.

Re: Did the UK do the right thing in voting to leave the E.U.
 

Classic. I knew this would be good. So despite the fact you admit the pound dropped on a future, you still want to argue anyway?

Well I will leave you to argue with yourself. You are pretty good at that.

Re: Did the UK do the right thing in voting to leave the E.U.
 

The UK has never brexited before, and it hasn't brexited yet, so that only leaves one reason for the 20% drop, uncertainty and lack of knowledge about the future. If I showed that lack of certainty in the facts at work, I'd be told to do my homework and say nothing until I could be accurate. All it takes is a few 'experts' to say death and doom, it causes panick and as if by magic, death and doom ensues. Shoot anyone on tele with a graph, it's the only way.

Re: Did the UK do the right thing in voting to leave the E.U.
 

You argue that the future mainly decides exchange rates; I point out it is the past, present and the future; I don't say the future isn't an influence, I just say it isn't the main factor. Get it? I have to argue with myself because you go off at a tangent.

Re: Did the UK do the right thing in voting to leave the E.U.
 

Firstly, I was discussing exchange rates in general and what factors affect them and there is a multitude of things.

Secondly, is anyone denying the decision to Brexit wasn't responsible in the main for this fall?

Thirdly, your advice about just ignoring things and wait to see how things pan out isn't how currency markets work and how people make long term decisions.

It's akin to going to the doctor and as he is about to tell you what you have you put your fingers in your ears and start singing I don't want to know until it happens. The big players in the currency markets decided to offload masses of pounds while they could get a particular rate and not take the chance to get a lower rate later. Hard times ahead are factored in to this decision. You call it panic if you want, others call it acting before it might be too late/too expensive.