Britain leaves E.U.

[dobyblue]

Originally Posted by BTBaboon

But its financial sector could;

It's extremely unlikely.

The EU has roughly doubled in nominal GDP in the past 20 years. The EU is collectively either the largest or second largest economy in the world (depending on who you ask and when) and accounts for ~21% of the global economy

When there were only 9 countries in the EU it accounted for 30% of the global economy. As of April 2016 it was at 16.5%.

Source: IMF World Economic Outlook (April 2016)

[dobyblue]

Now excuse me, I have a LOT of vinyl to order from Amazon.co.uk, maybe some new AKG headphones, a phono preamp, some deluxe CD+DVD reissues from The Verve, sexy exchange rate.

[Jake]

The truth is no one is really sure how this will shake out except for the fact that the countries that are dragging down the EU should just learn German & accept the inevitable

[recentlyJTR41]

Originally Posted by Jake

The truth is no one is really sure how this will shake out except for the fact that the countries that are dragging down the EU should just learn German & accept the inevitable

Hey at least we know Germany can't do anything to Russia in the Winter so there's that

[dobyblue]

Learn German and buy a taser if you're female.

[recentlyJTR41]

Originally Posted by dobyblue

Learn German and buy a taser if you're female.

That's offensive to the men doing the raping

[DMBZeppelin]

2nd most googled term in the UK: "What is the EU?" http://thehill.com/blogs/blog-briefi...ferendum-euref

[Jake]

There was a time that land and countries would shift. Mainly via war and some financial reward


Today, that is unheard of. But truthfully it's not a bad thing sometimes. Some countries should re-think their existence now & decide if they should remain as a country or join a more stable system

[jray1823]

Originally Posted by Climb2safety

Hmmm. I think your taking smaller similarities and ignoring huge differences here.

Great Observation...

[BTBaboon]

Originally Posted by dobyblue

Now excuse me, I have a LOT of vinyl to order from Amazon.co.uk, maybe some new AKG headphones, a phono preamp, some deluxe CD+DVD reissues from The Verve, sexy exchange rate.

Lol that was one of my first thoughts; international shipping still blows though

[Lcsulla]

Originally Posted by DaveHead36

Only time will tell how this will all play out. I just don't think it's going to have the great impact on the UK that Brits are hoping for.

I think short term they may take a hit both in PR and economy but it will be a long term benefit to the UK.

Originally Posted by aeroshady

I will also be very interested if Scotland pushed for another vote for independence. They clearly want to remain in the E.U.

They may vote again but their leaving the UK is doubtful since pretty much every UK member and protectorate periodically vote to remain in the UK.

Originally Posted by BothePrinceFan

Hopefully this leads to the eventual dissolution of the U.K.

Again, doubtful IMO.

Originally Posted by Nick_United

Looks like a lot of people are saying Boris Johnson will be the new Prime Minister.

He is certainly the frontrunner at this point.

Originally Posted by Tiduwho

The jingoistic poor and uneducated that voted for Brexit will now be worth less, have worse living conditions, and likely a roll-back of labor laws meant to protect them. So they pretty much screwed themselves, but hey they sent a "Fuck the System!" message and won.

Pretty sure the UK can come up with labor laws that help these people, just like they had been doing prior to the establishment of the EU.

Originally Posted by Tiduwho

It is the Bank of England's inherent interest to maintain stability, and playing their part, they say "don't worry, we are stable!", and that gives you a sense of relief?

Smart move, not different than the US ticking up the interest rates a point or so to show stability (admittedly artificial) on our T-Bills when the economy goes down. Additionally, they no longer have to worry about wasting money bailing out the piss poor nations such as Greece, Croatia, Latvia, Malta, etc, etc.

Originally Posted by Tiduwho

Lol @ George Soros taking the British to the woodshed again. He even warned them. Sounds like he's set to line his pockets again at their expense.

For all his money that silly old nazi is completely clueless when it comes to foreign affairs. He cares bout nothing but himself as evidenced by his collaboration with the nazi's during the holocaust.

Originally Posted by dobyblue

Speaking of campaign promises that turned out to be lies...are you familiar with an American POTUS by the name of Obama?

Originally Posted by Climb2safety

It also means no more free trade between the UK and the EU, no more free movement of labor (visas of some sort needed to work in England from the EU and vice versa), and the big one is immigration, England now has full control instead of EU

The immigration thing is a huge benefit to the UK, now they can decide internally who can come and go. Also, they are no longer bound by the decisions of the EU Court of Justice - which always seems to side with the party in the wrong.

Originally Posted by Climb2safety

I think it's wrong to minimize the exit sentiment by simpily boiling it down to them being unuducated.

Agreed. Even if you spelled uneducated wrong.

Originally Posted by Evans

Today is a good day for freedom-loving, liberty-loving people everywhere! Down with the socialist globalists who only seek to ultimately control and enslave you! Let the EU crumble, let the elites shrivel away as another footnote in history under the boot of freedom prevailing!

Agreed.

Originally Posted by DMBZeppelin

2nd most googled term in the UK: "What is the EU?" http://thehill.com/blogs/blog-briefi...ferendum-euref

Damn, and I thought US citizens were largely uneducated morons but I guess we do not have a monopoly on stupid.

[rconverse]

Originally Posted by junior94

well and this is practically our mantra in America. We CONSTANTLY vote against our own best interests, because nobody cares to learn past a bumper sticker of what they're actually voting for.

In your opinion.

Regardless, what we vote for, we only get about 30% of the time and that's if there's a super majority for it.

[Lcsulla]

Wow, this is a potential disaster for the EU. Now Italy, France, Holland and Denmark are all calling for exit referendums.

[Climb2safety]

Originally Posted by jray1823

Great Observation...

I'm guessing sarcastic?

[DMBZeppelin]

Originally Posted by Lcsulla

Damn, and I thought US citizens were largely uneducated morons but I guess we do not have a monopoly on stupid.

My issue isn't that they needed to google it, do your research, but those things need to be done BEFORE you vote.

[rconverse]

Originally Posted by DMBZeppelin

My issue isn't that they needed to google it, do your research, but those things need to be done BEFORE you vote.

Agreed but I think Jamie's point still stands. Americans do the same type stuff, voting purely off commercials, sound bites, and party affiliation without really knowing much.

For example, between my brother, sister, and both in-laws only one of them may have any idea what's going on in the world of politics. I know for a fact the other three have no clue whatsoever.

[jray1823]

Originally Posted by Lcsulla

Wow, this is a potential disaster for the EU. Now Italy, France, Holland and Denmark are all calling for exit referendums.

Sounds like a disaster for Greece, Latvia, Croatia, Portugal, Spain

[neumdogg]

Originally Posted by Evans

Today is a good day for freedom-loving, liberty-loving people everywhere! Down with the socialist globalists who only seek to ultimately control and enslave you! Let the EU crumble, let the elites shrivel away as another footnote in history under the boot of freedom prevailing!

It was damp and chilly afternoon, so I decided to put on my sweatshirt! I pulled the lever on the machine, but the Clark bar didn't come out!

[hailtopitt]

Originally Posted by DMBZeppelin

2nd most googled term in the UK: "What is the EU?" http://thehill.com/blogs/blog-briefi...ferendum-euref

[thebridge15]

Originally Posted by neumdogg

It was damp and chilly afternoon, so I decided to put on my sweatshirt! I pulled the lever on the machine, but the Clark bar didn't come out!

[Lcsulla]

Originally Posted by jray1823

Sounds like a disaster for Greece, Latvia, Croatia, Portugal, Spain

It will be a huge disaster to all those nations and to be honest if even 2 of the countries (say Italy and France) pull out the EU will fold quicker than a guy at a poker table holding a 7 high. If they all leave Germany will be the only remaining country that is not debt ridden and even they cannot support the EU themselves. The EU just cannot stay on life support without any real economic engines except Germany. This will likely sound cruel to some people but Greece, Latvia, etc, etc have to shoulder some blame for this one - most of it in fact. Their politicians always spend more than they take in but for 20 years the EU has been propping up their economies. I know the US taxes income far less than Europe yet I still get annoyed when the US pisses our money away on some hopeless dump like Somalia so I cannot even imagine how Europeans feel knowing they are treaty bound to have their taxes wasted to prop up Greece every year like clockwork.

[rconverse]

Originally Posted by Lcsulla

It will be a huge disaster to all those nations and to be honest if even 2 of the countries (say Italy and France) pull out the EU will fold quicker than a guy at a poker table holding a 7 high. If they all leave Germany will be the only remaining country that is not debt ridden and even they cannot support the EU themselves. The EU just cannot stay on life support without any real economic engines except Germany. This will likely sound cruel to some people but Greece, Latvia, etc, etc have to shoulder some blame for this one - most of it in fact. Their politicians always spend more than they take in but for 20 years the EU has been propping up their economies. I know the US taxes income far less than Europe yet I still get annoyed when the US pisses our money away on some hopeless dump like Somalia so I cannot even imagine how Europeans feel knowing they are treaty bound to have their taxes wasted to prop up Greece every year like clockwork.

Right. This is why socialism really will never work. After a certain period of time, people just get fed up and say fuck that shit.

You see it in small pockets here in the US as well. For example, Chicago's public schools are pretty terrible and want more money. But, they've been terrible so long, the rest of the state is like "fuck those guys". I'm not saying it's right or wrong, it's just what happens every single time there's a scenario where one group is glaringly taking in more than contributing for an extended period of time.

I've also used the hypothetical example of a friend that loses their job. All of us would be willing to help that person for a period of time. However, after a while, if there's no progress in your friend getting back on their feet and they're just relying on you and/or others, it's going to become an issue.

[VTDMBNH]

I don't think there's much debate about what will happen to the global economy if the EU falls apart, and it's not a pretty picture. That's what I was referring to when I said people were voting for a feeling (wanting to be independent) without fully grasping the ramifications of their vote (potential economic collapse, all but guaranteed global recession much deeper than the one we just had).

We'll have to see how it plays out, obviously, but if the EU collapses and we all experience a true global recession/depression as a result, I'd love to hear those who voted to exit the EU today talk about whether they still believed their decision was the right one or not.

[rconverse]

Originally Posted by VTDMBNH

I don't think there's much debate about what will happen to the global economy if the EU falls apart, and it's not a pretty picture. That's what I was referring to when I said people were voting for a feeling (wanting to be independent) without fully grasping the ramifications of their vote (potential economic collapse, all but guaranteed global recession much deeper than the one we just had).

We'll have to see how it plays out, obviously, but if the EU collapses and we all experience a true global recession/depression as a result, I'd love to hear those who voted to exit the EU today talk about whether they still believed their decision was the right one or not.

Maybe a correction and moving away from globalization wouldn't be a horrible thing. Maybe countries should worry about their people a little more than their rich, elite friends that stretch the globe.

If what I read about 401(k)s is correct, most people have hardly any money in them, so who cares if global stocks collapse? Not to mention, I think a LOT of that is a lot of BS being spouted from the people that would lose the most money/power.

[BTBaboon]

Originally Posted by rconverse

If what I read about 401(k)s is correct, most people have hardly any money in them, so who cares if global stocks collapse?

...where did you read that?

[Lcsulla]

Originally Posted by rconverse

Right. This is why socialism really will never work. After a certain period of time, people just get fed up and say fuck that shit.


I've also used the hypothetical example of a friend that loses their job. All of us would be willing to help that person for a period of time. However, after a while, if there's no progress in your friend getting back on their feet and they're just relying on you and/or others, it's going to become an issue.

Exactly correct on socialism, it never works. I agree with you on the friend example, if a friend or family member hit a rough patch and needed help I would help them as much as I could for a limited amount of time but I certainly have no desire to pay their bills for the rest of my life.

Originally Posted by VTDMBNH

I don't think there's much debate about what will happen to the global economy if the EU falls apart, and it's not a pretty picture. That's what I was referring to when I said people were voting for a feeling (wanting to be independent) without fully grasping the ramifications of their vote (potential economic collapse, all but guaranteed global recession much deeper than the one we just had).

We'll have to see how it plays out, obviously, but if the EU collapses and we all experience a true global recession/depression as a result, I'd love to hear those who voted to exit the EU today talk about whether they still believed their decision was the right one or not.

Perhaps they should have considered this possibility before they pushed to establish the EU in the first place.....

[DMBZeppelin]

Originally Posted by rconverse

Maybe a correction and moving away from globalization wouldn't be a horrible thing. Maybe countries should worry about their people a little more than their rich, elite friends that stretch the globe.

If what I read about 401(k)s is correct, most people have hardly any money in them, so who cares if global stocks collapse? Not to mention, I think a LOT of that is a lot of BS being spouted from the people that would lose the most money/power.

Globalization is the reality we live in. How do you move away from it?

The global economy collapsing will even be felt here in America. Why would that be a good thing?

[rconverse]

Originally Posted by BTBaboon

...where did you read that?

The Internetz, so it must be true!!

I'm sure that didn't take into account other defined contribution or benefit plans, so painting with a very broad brush there.

[VTDMBNH]

Originally Posted by rconverse

Maybe a correction and moving away from globalization wouldn't be a horrible thing. Maybe countries should worry about their people a little more than their rich, elite friends that stretch the globe.

If what I read about 401(k)s is correct, most people have hardly any money in them, so who cares if global stocks collapse? Not to mention, I think a LOT of that is a lot of BS being spouted from the people that would lose the most money/power.

I would argue that global stock collapse is a far bigger issue than the loss of 401(k) money. It's the severe unemployment and deflation that really do damage.

Maybe going away from globalization is a good thing, and maybe it's not - I don't really know enough about it to have a strong opinion. I'm just pointing out that the sudden move to get there all at once instead of through gradual changes over a long time brings with it the potential to hurt an awful lot of people around the world.

[Jake]

The EU was destined to collapse. The U.K. Pulling out only sped it up.

World economy shifts. It always has. The fear of the next shift should not cause an artificial propping up of it.


Sorry for the upcoming rough patch, but the world economy will adjust. It always does