Last time I checked a pension fund doesn't put all its eggs into one pot.http://www.telegraph.co.uk/business...rds-6000-and-pound-falls-as-brexit-fears-dri/
FTSE 100 loses £100bn in four days as Brexit paralyses markets and pound crumbles
Doing Sparkies job for him now...
Note it's not the Evening Standard :idea:
Wouldn't like you to accuse me of bias.
Ermm that's at the prospect of it occurring. It could be worse?
Market really doesn't give a flying hoot about what you and I think or say.
UK GDP 2.8 Trillion.
Last years growth was approx 0.6%
Now calculate what the growth, stalling of growth or decline maybe if Brexit materialises, markets in the UK take fright the pound falls and all UK assets depreciate and get sold off.
Imagine how much people retiring in the next 2-3 years may lose from their pension pot.
Forget imagine. Just do the sums what if? Humour me.
Then take your 10bn per annum to see how far it takes you?
Scare mongering indeed.
A friend at work thinks this is all great. He can't wait for the out vote. He talks much like you guys. He says it's going to be a 'blast'. He has the vote and his going to use it.
It's going to be a blast. He is all hyper. Go figure!
Oscar Reed
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@Atilla
Traders would be wise to start to pay greater focus to the European banking sector, where both investment and sub-investment grade credit default swaps (CDS) are once again on the move higher and worryingly eyeing January highs. Bond yield spreads between Southern European countries and German debt are widening and this is a huge negative for European banking system. We need to remember just how exposed European banks are to their domestic bonds (given their exposure on the balance sheet), so if yields rise, the markets’ perception of the asset quality deteriorates. Names like Deutsche and Unicredit will become central to sentiment in all markets if we see a vote to ‘Brexit’ and the hugely overleveraged European banking system could be in trouble. It’s this issue above all others that would be keeping me awake as a consideration for the vote.
On the other hand, if we see a vote to ‘remain’, then these spreads will come in nicely and European markets will absolutely fly. Long Stoxx 50, short S&P 500 will be very compelling trade for traders who are happy to somewhat take the macro out of the equation, given the Stoxx50/S&P 500 ratio has run so far so fast, as we can see from the chart and the line of best fit. Everyone will be focused on FTSE and rightly GBP, but for me the most interesting dynamic will be what happens to European yield spreads and the knock-on effect to the banking system.
Traders would be wise to start to pay greater focus to the European banking sector, where both investment and sub-investment grade credit default swaps (CDS) are once again on the move higher and worryingly eyeing January highs. Bond yield spreads between Southern European countries and German debt are widening and this is a huge negative for European banking system. We need to remember just how exposed European banks are to their domestic bonds (given their exposure on the balance sheet), so if yields rise, the markets’ perception of the asset quality deteriorates. Names like Deutsche and Unicredit will become central to sentiment in all markets if we see a vote to ‘Brexit’ and the hugely overleveraged European banking system could be in trouble. It’s this issue above all others that would be keeping me awake as a consideration for the vote.
On the other hand, if we see a vote to ‘remain’, then these spreads will come in nicely and European markets will absolutely fly. Long Stoxx 50, short S&P 500 will be very compelling trade for traders who are happy to somewhat take the macro out of the equation, given the Stoxx50/S&P 500 ratio has run so far so fast, as we can see from the chart and the line of best fit. Everyone will be focused on FTSE and rightly GBP, but for me the most interesting dynamic will be what happens to European yield spreads and the knock-on effect to the banking system.
Signalcalc
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Reading reports now that Euro beaurocrats are starting to seriously worry about their own general elections next year as a Brexit is looking more likely.
Interesting times ahead for Europe if we leave, there will be waves of anti-Euro anti-establishment sentiment building, governments could topple, couple that with an anti- establishment US President and within a short space of time we are in a new political era, the likes of which we haven't seen for some time.
1830's Brussels revolution all over again, although I think the Bourgeoise regained control of that one eventually.
Interesting times ahead for Europe if we leave, there will be waves of anti-Euro anti-establishment sentiment building, governments could topple, couple that with an anti- establishment US President and within a short space of time we are in a new political era, the likes of which we haven't seen for some time.
1830's Brussels revolution all over again, although I think the Bourgeoise regained control of that one eventually.
Atilla
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Yep agree with much of what you say here. Ramifications of a Brexit vote will see EU and the rest of the World over-cast with much uncertainty for good many years. No doubt about it.
Whilst what happens in UK may not be of much concern to you, similarly to the rest of the World, we never the less should seriously consider what and how the outcome likely to be for the UK. How will the UK perform or benefit from such a self inflicted fall out. Brexit impact will be global.
Our financial system didn't come out smelling of roses last time. The Euro has the ECB and Draghi has said he will do what is required to support the Euro.
So it's over to the laggards including the UK.
Uncertainty will prevail. Second dip almost imminent. Foreign investors, business will have to think twice before investing in the UK again. Those who are here will be looking to leave and relocate.
Stop talking flag rubbish you lil scary mouse. I've seen so many flags up and no broken windows. Down where I am even pensioners in their bungalows have them up. One has a photo of her cat, the union jack and BetterIn poster too. Next to three others saying Brexit.
I've also counted 4 Union Jacks and one St Georges Cross flag followed by a European flag along the South Coast heading West from Brighton. I suspect they are all neighbours taunting each other.
Where do you really live other than Germany and Siberia, Banglatown Brick Lane
Strange you put a lot of emphasis on what you have seen and yet attribute none to the experiences of other contributors to the thread.
I note too that many of your posts and views are copy and pastes from other sources. I have noted that many of the people here that favour Brexit speak from their own experiences and with some passion about where they live and how they hope they will live. They did not arrive at this decision from what they read elsewhere.
I am more than happy to have discussion and take seriously others with a differing view to mine. LOL and smileys and a few copy and pastes do not make compelling arguments and your inability to accept any of your fellow voters opinions and observations as valid makes talking with you futile.
I noticed you used WTF here again too in this thread and in the exact same context where it can only mean what we know it to mean. Will you now make a hundred posts to claim you meant something else entirely, AGAIN. Many people suggested you grow a pair and you wonder why that is said to you a lot?
No matter what is written here, people in this thread are not changing and in any case the vote next week will be the will of all the people and will reflect the outcome. That means the weak, ignorant, bigots, the wrong, the right, the ill informed, the over opinionated, the frightened. Each vote is equal and the winner already is the people in entirety. The good fortune to be born in the home of parliaments and self determination.
I for one still do not believe out will win and I hope I am wrong but I cannot argue with the result.
Atilla
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As I don't work for a German company or travel far to Siberia, I'm afraid I can only talk about my experiences. So sorry to disappoint you.
More importantly, from your blurb assuming my comprehension serves me correctly, you are voting for a BetterIN vote. Is that right?
Sonicscooter
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It doesn't mater what he is voting, or even if he is voting, the simple fact is he takes on board others opinions, were you just dismiss opposing opinions because it doesn't suite your "retire early and live abroad plan", ie stuff the UK and everyone else, "I'm all right Jack".
And stop with the copying twaddle from newspapers, do you really believe newspapers...
And stop with the copying twaddle from newspapers, do you really believe newspapers...
I don't work for a German company either.
I am hoping for Brexit though believing it will not happen, unfortunately.
barjon
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Everyone, including organisations, individuals, corporations, governments etc have an agenda.
The only way to make an informed decision is to first question everyone's agenda, or in other words, apply some common sense logic whilst searching for the truth.
Some people are very good at working out what the truth is. So good in fact, that they can tell you in advance how the story unfolds and what the result will be. A bit like this thread has done.
Everything is known in advance.
What do you reckon Bill Gates's agenda is when he says that Britain will be "a significantly less attractive place to do business and invest in" if outside the EU. And that Britain's membership was key to his $1bn funding.
Somebody else poking their nose in where it's not wanted I suppose.
Well, Barjon, we do poke our noses. The Brits are a very nosey lot. If Bill Gates, of all people, doesn't use London as one of his trading centres, who does?
Atilla
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Wot you mean like Nigel Lawson
So what happens to all other pensioners (baby boomers) reaching retirement... erm approximately now as it happens in the next 5 years. :idea:
This vote is about the UK. Not one person.
barjon
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Aye, the brexiteers on this thread seem to think that any "outsider" who dares to oppose Brexit must have some devious agenda or have no business expressing an opinion.
It's just because they don't want to listen, of course, more's the pity.
counter_violent
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Id say to people...bill gates says the UK is a significantly less attractive place to do business, so we should stop buying his products and tell him to sling his hook.
I would add to that fine sentiment, that with the UK outside the EU, it would mean companies like Bill's and the other tax abusers around the EU may have to pay the going rate in the UK and stop with the funny business of booking all sales in Ireland and Luxembourg. How again is that bad for the UK.
My new slogan, not copied or pasted, how about UK TAX for UK BUSINESS.
Try it! He owns half the planet. At least, as far as his software goes.
Ok, I'll agree to that. I'm sure he has a whole department of lawyers working on his taxable income.
samfarrell
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The city of London is one of the biggest tax dodge havens on earth. Its also one of the financial capitals of the world. I used to work in a commodities floor there, it really is the centre for that stuff. Those companies employ tens of thousands but they dont give a **** about the UK, they will go to Frankfurt if it becomes anti business in London... Do you want to see that die slowly too?
Brexiters should be careful what they wish for
Where you worked is irrelevant to the fact that UBER, Google, Apple, Linkedin, Microsoft and many more all employ the practice of booking sales in other countries and licencing arrangements with themselves in another location with a lower rate of taxation.
I do lament that you appear not to have survived very long in commodities and I am aware what London is the centre of 'really'. If you believe many of the companies doing business in London would instantly jump to Frankfurt and the rather heavier touch on such business then I fear that your time in London was completely a waste and you fail to see a distinction between Brexit and anti business.
The whole reason London is a success and the business in not in Frankfurt is ....... Oh god help us. I give up educating the ill informed on the obvious, it is so frustrating, in the words of a Dragons Den member, sorry I am out. Hopefully enough of you do that next week too.
dbphoenix
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It is not so much a UK problem nor a US problem but a global problem. The fear of businesses "leaving" has enabled them to hamstring governments wherever they reside, which they have done for decades. The irony is that they for all practical purposes leave anyway, e.g., the outsourcing to India and China. The result is that those who are and have been interested in the conditions in France in the late 18th century and globally in the years leading up to each of the two world wars are able to live them day by day in a kind of time warp.
Except that in India they recently were able to make rather tough demands on Apple if they want access to the local market. That would not be possible if India were part of an EU type deal.
It is not the outsourcing it is the fact that companies such as Starbucks pay themselves such a high licencing fee that making a profit and paying corporation tax was practically impossible and they volunteered to pay £20m (i think) rather than have a barrage of Daily Mail readers boycott them. It is using the EU even as a tax shelter for US companies who wont repatriate a dime home to save tax. The UK still drink coffee, use Uber and the like but profits made here might have a chance to stay here too.
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