UK votes to leave the European Union

[KB]

Its about time somebody left. Greece should have left when they voted to leave years ago.

 

[IronWing]

Does this mean Hal Lindsey will write another book?

 

[brainhulk]

 

[shimpster]

I wonder how this will impact the financial markets.

http://www.bbc.com/news/politics/eu_referendum/results



Leave: 17,176,006
Stay: 15,952,444


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im not sure how will impact the financial marketz

 

[Ns1]

Daaaaaaaaaaaaaaamn NYSE -500

 

[SP33Demon]

Good, about time. No more of that open borders bullshit that the EU made them do. It may hurt initially but the EU was leeching off of them for awhile now. It's no secret which countries are the GDP growth superstars of the EU with the Brits and Germany leading the way. They never needed the EU, the EU needed them.

 

[Ns1]

Yeah...Germany is kinda fucked.

 

[sdifox]

Good, about time. No more of that open borders bullshit that the EU made them do. It may hurt initially but the EU was leeching off of them for awhile now. It's no secret which countries are the GDP growth superstars of the EU with the Brits and Germany leading the way. They never needed the EU, the EU needed them.

Yeah they should hire Trump to build their wall

 

[mnewsham]

Good, about time. No more of that open borders bullshit that the EU made them do. It may hurt initially but the EU was leeching off of them for awhile now. It's no secret which countries are the GDP growth superstars of the EU with the Brits and Germany leading the way. They never needed the EU, the EU needed them.

What helped the UK GDP growth? Free trade with the EU.

 

[s0me0nesmind1]

Daaaaaaaaaaaaaaamn NYSE -500

Wasn't the Dow UP 200 yesterday on the rumor that Brexit would fail? As of right now Dow is down 450, so by my count we are only down ~250 from previous days. Nothing that drastic at the moment to be honest....

 

[SP33Demon]

What helped the UK GDP growth? Free trade with the EU.

Which will still happen.

 

[IronWing]

Which will still happen.

Leaving the union will be just like being in the union except for a certain je ne sais quoi. Trust me.

 

[mnewsham]

Which will still happen.

After they renegotiate the trade agreements which I imagine the EU wont be too kind about, it's not like the EU relies on the UK for trade. The UK has very little the EU NEEDS. Whereas the UK needs a lot from the EU. The EU wont make it cheap.

 

[sdifox]

Which will still happen.

Right, like how the Quebeçois were saying they'll keep Canadian currency and Canadian passport after they separate from Canada :thumbsdown:

 

[SP33Demon]

After they renegotiate the trade agreements which I imagine the EU wont be too kind about, it's not like the EU relies on the UK for trade. The UK has very little the EU NEEDS. Whereas the UK needs a lot from the EU. The EU wont make it cheap.

The EU doesn't need the UK? They just lost their #2 GDP partner or 1/6 of the entire's EU GDP. Yes, they will still trade but now the UK gets to dictate its terms, not the other way around. The EU has to play by the UK's rules now. Furthermore, this semi-fucks over Germany who now has to fill the economic and possible immigration gaps.

The European Union's chief concerns over Britain's vote to leave the group are political but losing its second-largest economy will have a huge economic impact as well.

Below are some of the main economic risks and benefits for the EU's remaining 27 members.

BUDGET/ECONOMY

Other members will have to fill in at least some of the shortfall from a lack of its contributions.

Britain's total contribution to the EU budget for 2016 has been set at 19.4 billion euros (16 billion pounds), including its rebate and customs duties. It receives about 7 billion euros, mainly agricultural and regional subsidies, leaving a gap to fill of just over 5 percent of the total EU budget.

Germany, the EU's largest member, would inevitably have to provide the most extra cash. Germany's Ifo institute estimates that would be 2.5 billion euros.

and

By contrast, other affluent western European countries, such as Germany, could as a result see higher inflows of EU migrants. This might be beneficial economically, if politically difficult.

http://uk.reuters.com/article/uk-britain-eu-economy-europe-idUKKCN0ZA0KE

So Germany is simply going to have to pick up the slack. Maybe Germany should gtfo too. It's akin to a star NFL player who is a free agent that the team cannot franchise tag. What happens? The team either renegotiates or he walks and gets a better deal elsewhere. Why should Germany, France, and the UK be bankrolling disaster countries like Greece?

 

[maddogchen]

next up, Scotland voting again to leave the UK

 

[mnewsham]

The EU doesn't need the UK? They just lost their #2 GDP partner or 1/6 of the entire's EU GDP. Yes, they will still trade but now the UK gets to dictate its terms, not the other way around. The EU has to play by the UK's rules now. Furthermore, this semi-fucks over Germany who now has to fill the economic and possible immigration gaps.


and

http://uk.reuters.com/article/uk-britain-eu-economy-europe-idUKKCN0ZA0KE

So Germany is simply going to have to pick up the slack. Maybe Germany should gtfo too. It's akin to a star NFL player who is a free agent that the team cannot franchise tag. What happens? The team either renegotiates or he walks and gets a better deal elsewhere. Why should Germany, France, and the UK be bankrolling disaster countries like Greece?

Well once scotland takes their oil and gas good luck with all that.

 

[SP33Demon]

Well once scotland takes their oil and gas good luck with all that.

They have about as much of a chance of secession as Texas does from the U.S.

 

[MongGrel]

They have about as much of a chance of secession as Texas does from the U.S.

EU referendum: Scotland backs Remain as UK votes Leave

http://www.bbc.com/news/uk-scotland-scotland-politics-36599102



Brexit: Nicola Sturgeon says second Scottish independence vote 'highly likely'

http://www.bbc.com/news/uk-scotland-scotland-politics-36621030

 

[mnewsham]

They have about as much of a chance of secession as Texas does from the U.S.

...riiiiiight

You obviously have some insider information as the whole point of remaining in the UK last year was so they could still be in the EU, since the UK has decided to leave, that is no longer a factor, and MANY people who voted to remain would now vote to leave, as well as the people who already voted to leave, it was 55-45 to stay last time, if they vote again it would almost for sure be a leave vote.

 

[Eug]

I find it amusing that Independence Day opens today.

I also find this amusing:

 

[nk215]

This is the time smart traders will wait for everyone to sell, then they swoop in, and buy cheap.
The US $ is almost equal to the EU $, so that hurts US exports.

This. I am waiting for a good buy. Does anything think the S&P can get to around 1900?

 

[Slew Foot]

If the EU wont make it cheap, someone else in the world will.

This is UK's independence day, good for them

 

[Lonyo]

Japan rapidly becoming prohibitively expensive to visit; prob jap imports too. Guess I'm gonna have to take a break from the good sushi.

So 4 years ago it was really really prohibitively expensive?
I went 4 years ago and it was £1 = 120 JPY
I went 2 years ago and it was £1 = 180 JPY
Now it's £1 = 140 JPY.

 

[Imp]

Heard some interviews of people that voted for exit being shocked that they are leaving

On the CBC?

Yes, I saw that too. Seriously, what the fuck did you think you were voting for?

I know that its stupid to try and time the market, but I wish I hadn't dropped a ton of money into investments last month... I'm not going to sell anything because that would be stupid, but it would have been nice to capitalize on this drop.

Stupid, yes, but that doesn't mean I won't keep trying.