Today Britain votes on remaining part of the EU

[Gonad the Barbarian]

Also, why the hell did they structure it so it only required a simple majority to leave?

It's non-binding.

 

[LegendKiller]

The risk was that GB might leave the EU. That risk is now realized. GB was the financial hub of the EU, firms had already been leaving London for continental Europe on the potential that GB might leave. They will leave much more quickly now. But that's okay because those financial services workers in Britain can work anywhere in the... oh wait...

They just shot themselves in the dick with a bazooka.

And where do you think they'll get the workers?

Is there some huge reserve of experienced forex, equity, and fixed income traders, pms, analysts, just floating around the continent?

 

[LegendKiller]

Contagion, as in other nations exiting the EU?

Yes.

 

[spacejamz]

I'm not understanding the benefits here. More expensive markets, fewer job opportunities abroad, financial markets may exit, migrant work force vanishes, and Britain will have a harder time competing for European business.

Strangely enough, they effectively manipulated their currency and made investing in Britain more lucrative in the short term. Don't know if that will pan out to any net gain, unlikely.

Not having law makers in another country who don't give two shits about the citizens in that area dictating policy along with no control of who can enter your country pissed off enought Britons to make this happen...

 

[hal2kilo]

All the markets assumed a "remain" vote up until yesterday. The correction after "leave" unexpectedly won out is clear.

This was an obviously stupid move for Britain economically.

I understand certain aspects of why they voted the way they did. I still think it's a mistake.

I get great pleasure though in seeing the usual ecomomic pundits be absolutely wrong.

I amazes me when I go to a business website and there articles predicting oil is going down to $20 a barrel and an right below it an article saying its going to $60 dollars a barrel. God I wish I could get that job.

 

[spacejamz]

I wonder how many of those boomers that voted "leave" yesterday are checking their retirement accounts this morning and going "oh shit bullocks."

many of these boomers know that you don't judge the performance of your retirement account on one day's activities....not sure what the long term effect of this will be, either positive or negative, but that is another matter entirely....

 

[FrankRamiro]

Who the F*** needs England in the EU, if England did not want the EU Currency anyway?
i think we are better off this way,EU should be a united State with same Currency,screw them

 

[sontakke]

Anybody remembers "Arab Spring"? Looks like we now have "British Summer"! Chinese have the correct curse "May you really get what you wish for".

May UK citizens were dumb founded and could not fathom Trump becoming the nominee. Did they ever imagine they would be waking up to this today?

 

[Gonad the Barbarian]

I understand certain aspects of why they voted the way they did. I still think it's a mistake.

I get great pleasure though in seeing the usual ecomomic pundits be absolutely wrong.

I amazes me when I go to a business website and there articles predicting oil is going down to $20 a barrel and an right below it an article saying its going to $60 dollars a barrel. God I wish I could get that job.

Well what were they wrong about? The fact that "leave" won? Or the repercussions that would arise from that? On the latter, they weren't (aren't) wrong. On the former, it's basically being wrong about predicting someone not shooting themselves in the foot. Yeah they were wrong, but it still looks worse for the person with the bullet hole in their foot.

 

[Blackjack200]

And where do you think they'll get the workers?

Is there some huge reserve of experienced forex, equity, and fixed income traders, pms, analysts, just floating around the continent?

LOL, yeah there's going to be no displacement of British FS workers.

There will be some FS workers that find work abroad. They will contribute to the local economy, and pay taxes in their new resident county. They will contribute nothing to the British economy and pay no British taxes. The displaced FS workers that can't find work abroad will go on the dole.

Sounds great!

 

[Subyman]

Not having law makers in another country who don't give two shits about the citizens in that area dictating policy along with no control of who can enter your country pissed off enought Britons to make this happen...

So not a rational position weighing all the pros and cons of the exit.

 

[Gonad the Barbarian]

Man Who Voted For Brexit Is 'A Bit Shocked' His Vote Counted, Is Now 'Worried'
Quite worried!
LOL

 

[K1052]

People who voted for Brexit are going to shit themselves when this precipitates the final breakup of the UK. Scotland is now decidedly headed for the door and Northern Ireland is rumbling about unification.

 

[FrankRamiro]

The brief reading I saw is its about jobs. Basically anyone in the EU can go to work in any EU country. This puts pressure on jobs and wages.

So what?USA is not United with any country and there are millions of illegals working for low wages, taking away legal citizen jobs and making wages going down,and i see no big deal on part of the politicians and some Americans that support that,the F*** Politicians i understand their goal on support for this illegal emigrant policies,they want to get votes from the Emigrant community,no matter at what cost to the American well being,
but i don't understand People that are being affected by this illegal emigrant situation,and are going to vote for someone as Hillary that supports legalization of millions illegals.
So England will continue to have emigrants from the EU working for cheap labor,the only thing they have to return,and no safe heaven as in USA.

 

[fskimospy]

Man Who Voted For Brexit Is 'A Bit Shocked' His Vote Counted, Is Now 'Worried'
Quite worried!
LOL

I do wonder how many people might be sharing that opinion this morning. Like... 'oops, what did we just do?'

 

[Drako]

It looks like this summer/fall will be a good time to take a vacation to England.

 

[LegendKiller]

LOL, yeah there's going to be no displacement of British FS workers.

There will be some FS workers that find work abroad. They will contribute to the local economy, and pay taxes in their new resident county. They will contribute nothing to the British economy and pay no British taxes. The displaced FS workers that can't find work abroad will go on the dole.

Sounds great!

I never said there would be no effect, i work in the industry and talk to people overseas often. I just don't know if it will be as large as people fear.

 

[LegendKiller]

I do wonder how many people might be sharing that opinion this morning. Like... 'oops, what did we just do?'

I agree.

 

[buckshot24]

So not a rational position weighing all the pros and cons of the exit.

You laid out cons and he laid out some pros. Why is your position rational and his isn't?

 

[MiniDoom]

We need to start a list of online retailers in the UK. For any people into cycling, pbk and wiggle are in the UK and will have some great deals. who else?

 

[zinfamous]

And where do you think they'll get the workers?

Is there some huge reserve of experienced forex, equity, and fixed income traders, pms, analysts, just floating around the continent?

You can get the necessary experience for all of those positions through a simple survey and an online degree certificate.

 

[LegendKiller]

You can get the necessary experience for all of those positions through a simple survey and an online degree certificate.

Lol.

 

[hal2kilo]

Man Who Voted For Brexit Is 'A Bit Shocked' His Vote Counted, Is Now 'Worried'
Quite worried!
LOL

Sounds like a Trump delegate. :sneaky:

 

[AznAnarchy99]

Man Who Voted For Brexit Is 'A Bit Shocked' His Vote Counted, Is Now 'Worried'
Quite worried!
LOL

Sending this to all my friends who say "why vote when it doesn't count anyways".

 

[Subyman]

You laid out cons and he laid out some pros. Why is your position rational and his isn't?

My position has tangible economic impact on the people. His position is related to nationalism. Effectively they chose the feeling of national pride over what's best for their economy and in turn their cost of living/quality of life.

If indeed their goal is prosperity then they likely voted against it. If their goal is tradition and less diversity then they believed they voted for that. The goal of capitalism is prosperity, so they effectively voted against their own economic ethos.

You could say if they only cared about isolating themselves against European immigration then they may have made a rational decision to that end, but I suspect they did not fully weigh the economic consequences and will resent their decision in the long term.

It will make a good case to prove if isolation is the key to "terrorism" and jobs but at what cost.