Brexit Thread

[Ivytalk]

Gold is up over $61 an oz...

Rosland Capital's phones are ringing off the hook!

[Ibanez]

Woo-hoo!

Hope this call isn't a Dewey situation.

If not, good for the Brits!

Now, let's kick the Brits out of Ireland...and get back to Scottish and Welsh independence.

2 years. Scotland voted to Remain. I bet Ivys right nut they vote to leave thE UK and join the EU.

[Ivytalk]

Woo-hoo!

Hope this call isn't a Dewey situation.

If not, good for the Brits!

Now, let's kick the Brits out of Ireland...and get back to Scottish and Welsh independence.

2 years. Scotland voted to Remain. I bet Ivys right nut they vote to leave thE UK and join the EU.

Leave my nuts out of this!

I just hope the pound stays low until after our Scotland vacation this fall!

[AshevilleApp]

You are a total dick.

Give him a break, he's only 12 years old.

[Ibanez]

2 years. Scotland voted to Remain. I bet Ivys right nut they vote to leave thE UK and join the EU.

Leave my nuts out of this!

I just hope the pound stays low until after our Scotland vacation this fall!

I hope it stays low for a while, i've got a European Vacation planned for Fall 2018.

[clenz]

I don't follow politics.

Can anyone actually explain what lead to this, and what this actually means moving forward, and not be a complete partisan type hack about it?

[YoUDeeMan]

FEAR!

WORLD ECONOMIC COLLAPSE!

CARNAGE!

STARVATION!

THE ISLAND WILL TIP OVER!

Congrats to the Brits for seeing through the drivel.

One Corporate World, Inc.* takes a loss today. Hopefully, the beast will be driven back here in America in November.















* One Corporate World, Inc. is incorporated in Delaware, for tax purposes, of course.

East Coast, Western Hemisphere bias.

[YoUDeeMan]

I don't follow politics.

Can anyone actually explain what lead to this, and what this actually means moving forward, and not be a complete partisan type hack about it?

The world will not crash into the sun.

[ASUG8]

I don't follow politics.

Can anyone actually explain what lead to this, and what this actually means moving forward, and not be a complete partisan type hack about it?

Here's a short primer on it.

http://www.bbc.com/news/uk-politics-32810887

[clenz]

It's mildly ironic to see the UK fight against EU control and all that given UK's history of trying to own/control every county in the world.

[Ibanez]

I don't follow politics.

Can anyone actually explain what lead to this, and what this actually means moving forward, and not be a complete partisan type hack about it?

Keep in mind that although they voted to Leave, this referendum is not legally binding. This was advisory and for the UK to actually leave, they would have to notify the EU under Article 50 that they intend to leave. EU leaders have said the UK should leave "as soon as possible"

The EU's leadership has demanded Britain activate Article 50 exit talks "as soon as possible" as they attempt to end the uncertainty over the bloc, "however painful that process may be".

President Tusk, President Schulz and Prime Minister Rutte met this morning in Brussels upon the invitation of European Commission President Juncker.

"Any delay would unnecessarily prolong uncertainty. We have rules to deal with this in an orderly way. Article 50 of the Treaty on European Union sets out the procedure to be followed if a Member State decides to leave the European Union," the official statement said. "We stand ready to launch negotiations swiftly with the United Kingdom regarding the terms and conditions of its withdrawal from the European Union."

http://www.telegraph.co.uk/news/2016/06 ... exit-is-a/

For right now, nothing changes. The UK is still a member with all it's privelages. The laws and regulations are still in place. Now, it's a time to figure out how to advance. Markets will take a hit, but they'll rebound. We are talking about the 5th Largest economy in the world. An island nation that now can make trade deals with China and the US. It'll be rocky for them, but I think, they did the right thing.

Triggering Article 50, formally notifying the intension to withdraw, starts a two-year clock running. After that, the Treaties that govern membership no longer apply to Britain. The terms of exit will be negotiated between Britain’s 27 counterparts, and each will have a veto over the conditions.

It will also be subject to ratification in national parliaments, meaning, for example, that Belgian MPs could stymie the entire process.

Two vast negotiating teams will be created, far larger than those seen in the British renegotiation. The EU side is likely to be headed by one of the current Commissioners.

Untying Britain from the old membership is the easy bit. Harder would be agreeing a new trading relationship, establishing what tariffs and other barriers to entry are permitted, and agreeing on obligations such as free movement. Such a process, EU leaders claim, could take another five years.

[Ibanez]

Just realized something, with the markets dropping, this is good news for anyone with an ARM, looking to buy or refi in the days/weeks to come. Thanks Obama.

Update: I feel vindicated

MORTGAGE RATES AND HOME PRICES

One upside could be for would-be homeowners, or those looking to refinance or with adjustable-rate loans. For them the cost for buying a house is likely to drop, at least in the near term.

Even before the Brexit vote, the average interest rate for a 30-year fixed-rate mortgage was at its lowest since May 2013 at 3.76 percent, according to the Mortgage Bankers Association.

On Friday the yield on the 10-year U.S. Treasury note US10YT=RR, to which most mortgages are indexed, dropped to below 1.50 percent, meaning borrowing costs for home purchases should head lower as well. The last time the 10-year note yield was this low was 2012, and that coincided with the average 30-year mortgage rate briefly dropping below 3.5 percent, the lowest in the post-World War Two era.

That could add fuel to a pretty hot U.S. housing market. Existing homes are selling at their fastest rate since 2007, while sales of new homes are proceeding near their most brisk pace since 2008. Home prices in the 20 largest metropolitan areas are, on average, the highest since late 2007.

http://www.reuters.com/article/us-brita ... SKCN0ZA21Y

[kalm]

FEAR!

WORLD ECONOMIC COLLAPSE!

CARNAGE!

STARVATION!

THE ISLAND WILL TIP OVER!

Congrats to the Brits for seeing through the drivel.

One Corporate World, Inc.* takes a loss today. Hopefully, the beast will be driven back here in America in November.















* One Corporate World, Inc. is incorporated in Delaware, for tax purposes, of course.

East Coast, Western Hemisphere bias.

Pretty much this. It's where I seperate from many on the left. Centralized control can be problematic on many levels including banking. Even if this was driven by xenophobia to a certain degree, you can only blame them so much for that and I think there's also an underlying rejection of the establishment going on.

[Pwns]

Pretty much this. It's where I seperate from many on the left. Centralized control can be problematic on many levels including banking. Even if this was driven by xenophobia to a certain degree, you can only blame them so much for that and I think there's also an underlying rejection of the establishment going on.

I was just about to post that I just can't understand why so many American leftistis don't like this. It was just a few short years ago they were complaining about austerity being forced on the Greeks. And of course there's the European Central Bank, now that's a completely progressive institution of the people.

[kalm]

Pretty much this. It's where I separate from many on the left. Centralized control can be problematic on many levels including banking. Even if this was driven by xenophobia to a certain degree, you can only blame them so much for that and I think there's also an underlying rejection of the establishment going on.

I was just about to post that I just can't understand why so many American leftistis don't like this. It was just a few short years ago they were complaining about austerity being forced on the Greeks. And of course there's the European Central Bank, now that's a completely progressive institution of the people.

Agree.

I would guess there were some on the left in Britain that recognized this.

[YoUDeeMan]

Pretty much this. It's where I seperate from many on the left. Centralized control can be problematic on many levels including banking. Even if this was driven by xenophobia to a certain degree, you can only blame them so much for that and I think there's also an underlying rejection of the establishment going on.

Funny that you mention Xena, Princess Warrior.

Is it worse that someone doesn't like foreigners, and says so, and wants to reduce interaction with them, or is it worse that someone says that they care about all people while looking the other way as they support someone who helps facilitate the killing of foreigners?

[Ibanez]

I understand the "status quo" argument but I think this will be good for the UK. They shouldn't have relinquished control. None of those countries should have, this was put in place in the ashes of WW2. I understand the reasoning, but I think the EU hasn't delivered. This is already having global implications (don't check your 401(k) for a while) but I think in the long run it'll be good for them. I wouldn't be shocked if Scotland votes to leave. I've heard some people mention N. Ireland, I don't know. I haven't read enough but I haven't seen anyone talking about that. Scotland, yes but not Ulster Plantation.

[BDKJMU]

You are a total dick.

Give him a break, he's only 12 years old.

[Ivytalk]

Give him a break, he's only 12 years old.

Typical articulate Trumpkin response!

[BDKJMU]

Typical articulate Trumpkin response!

As articulate as the "he 12 years old" or talking about left nuts

[GannonFan]

I understand the "status quo" argument but I think this will be good for the UK. They shouldn't have relinquished control. None of those countries should have, this was put in place in the ashes of WW2. I understand the reasoning, but I think the EU hasn't delivered. This is already having global implications (don't check your 401(k) for a while) but I think in the long run it'll be good for them. I wouldn't be shocked if Scotland votes to leave. I've heard some people mention N. Ireland, I don't know. I haven't read enough but I haven't seen anyone talking about that. Scotland, yes but not Ulster Plantation.

Yeah, this won't be the end of the world at all, no matter what our leaders have said. The EU is just a mess as it's currently configured and if this is the kick in the pants they need to fix it or just scrap it altogether and start over then that's a good thing. And if they don't fix it and the EU continues to dissolve better for the UK to get out now.

Hard to tell what Scotland will do. It's good if they wait 1-2 years before voting again, gives them a chance to see how things go in the EU and if they really want to be joining that sinking ship. Without the UK there to counterbalance the German/French impulses I'm not sure that Scotland will want to join that in two years. I know they really don't care for the English, but staying with them may be the best of two evils for them.

I'm not a fan of nationalism for nationalism sake - I think we are better off joined than as entirely separate entities. However, it has to be done right and the EU was a good example of how not to bring different countries together.

[SeattleGriz]

FEAR!

WORLD ECONOMIC COLLAPSE!

CARNAGE!

STARVATION!

THE ISLAND WILL TIP OVER!

Congrats to the Brits for seeing through the drivel.

One Corporate World, Inc.* takes a loss today. Hopefully, the beast will be driven back here in America in November.

* One Corporate World, Inc. is incorporated in Delaware, for tax purposes, of course.

East Coast, Western Hemisphere bias.

That was classic. The island will tip over.

[BDKJMU]

"David Cameron chokes back tears as he QUITS in the wake of the historic Brexit vote in referendum - while Boris Johnson makes his pitch to take over as Prime Minister running a new 'great' Britain
http://www.dailymail.co.uk/news/article ... z4CVbpZ3Lm

[CAA Flagship]

Just realized something, with the markets dropping, this is good news for anyone with an ARM, looking to buy or refi in the days/weeks to come. Thanks Obama.

Update: I feel vindicated

MORTGAGE RATES AND HOME PRICES

One upside could be for would-be homeowners, or those looking to refinance or with adjustable-rate loans. For them the cost for buying a house is likely to drop, at least in the near term.

Even before the Brexit vote, the average interest rate for a 30-year fixed-rate mortgage was at its lowest since May 2013 at 3.76 percent, according to the Mortgage Bankers Association.

On Friday the yield on the 10-year U.S. Treasury note US10YT=RR, to which most mortgages are indexed, dropped to below 1.50 percent, meaning borrowing costs for home purchases should head lower as well. The last time the 10-year note yield was this low was 2012, and that coincided with the average 30-year mortgage rate briefly dropping below 3.5 percent, the lowest in the post-World War Two era.

That could add fuel to a pretty hot U.S. housing market. Existing homes are selling at their fastest rate since 2007, while sales of new homes are proceeding near their most brisk pace since 2008. Home prices in the 20 largest metropolitan areas are, on average, the highest since late 2007.

http://www.reuters.com/article/us-brita ... SKCN0ZA21Y

I got 3.75% in February 2015. I'm Jooish like that.

[Ibanez]

I understand the "status quo" argument but I think this will be good for the UK. They shouldn't have relinquished control. None of those countries should have, this was put in place in the ashes of WW2. I understand the reasoning, but I think the EU hasn't delivered. This is already having global implications (don't check your 401(k) for a while) but I think in the long run it'll be good for them. I wouldn't be shocked if Scotland votes to leave. I've heard some people mention N. Ireland, I don't know. I haven't read enough but I haven't seen anyone talking about that. Scotland, yes but not Ulster Plantation.

Yeah, this won't be the end of the world at all, no matter what our leaders have said. The EU is just a mess as it's currently configured and if this is the kick in the pants they need to fix it or just scrap it altogether and start over then that's a good thing. And if they don't fix it and the EU continues to dissolve better for the UK to get out now.

Hard to tell what Scotland will do. It's good if they wait 1-2 years before voting again, gives them a chance to see how things go in the EU and if they really want to be joining that sinking ship. Without the UK there to counterbalance the German/French impulses I'm not sure that Scotland will want to join that in two years. I know they really don't care for the English, but staying with them may be the best of two evils for them.

I'm not a fan of nationalism for nationalism sake - I think we are better off joined than as entirely separate entities. However, it has to be done right and the EU was a good example of how not to bring different countries together.

There are calls in France, Italy and the Netherlands to vote for exit. They see this vote as proof that the EU is failing and crumbling. Scotland has already said they were going to prepare the legislation necessary to leave the UK.

http://www.telegraph.co.uk/news/2016/06 ... -sinn-fei/

Nicola Sturgeon has thrown the future of the United Kingdom into doubt by saying a second independence referendum is “highly likely” in the next two-and-a-half years following UK’s vote to leave the EU.

The Scottish First Minister claimed in 2014, before Scotland voted to stay in the Union, that it was a once in a lifetime event, but claimed following the shock Brexit vote that it could happen again by the end of 2018, before the UK leaves Europe.

She claimed in a press conference at Bute House, her official residence in Edinburgh, where she was flanked by the Saltire and the EU flag, that it was "democratically unacceptable" for Scotland to be taken out of the EU against its will.

Ms Sturgeon said large numbers of people who voted No in the independence referendum just 21 months ago had been in touch with her to say they would now vote Yes.

She also recalled that in 2014, voters were told by the Better Together campaign that the best way to ensure they remained in the EU was to stay in the UK.

Ireland is already preparing plans for border control. The Brits have a LOT of work ahead of them and there's going to be some struggles.