Keep Calm And Carry On, It Is Not All Doom And Gloom.

[anotheoldgit]

http://www.dailymail.co.uk/news/article-3665436/Brexit-Brexit-FTSE-100-opens-1-6-approaches-pre-EU-vote-high-pound-rises-again.html

[Old_Geezer]

Is there any interest left to cut ?

[Zacs-Master]

No good quoting the footsie 100. It's made up of too many foreign owned companies. It's the FTSE 250 which gives a barometer.
http://www.telegraph.co.uk/business/2016/06/27/why-we-should-be-looking-at-the-ftse-250-and-not-the-ftse-100-to/

[youngmafbog]

Neither give a full barometer. Both are hit by the gambling. Also far too early to see eitger way. 2 to 3 weeks should be better priblem also is the turmoil in both main parties tgat would have jittered the market without Brexit.

[vetuste_ennemi]

DT: "I would argue that a 4.5pc slide in the FTSE 100 does not constitute stability. But I can see why it might look relatively benign to an untutored eye. Things are a whole lot scarier if you look instead at the FTSE 250.".

4.5 slide=Armageddon? When was this financial journalist born? Not long ago judged by the patronising sneer "untutored eye".

But enough of that. Markets fall because people ask "What's going to happen now?" and can only come up with the reply "Dunno.". They don't fall because predictions like "100,000 (or was it one, ten, 10,000 or one million) British jobs will be lost" have turned from speculation into fact. Volatility will continue until Clause 50 is invoked and Cameron's successor is decided. Probably longer.

[youngmafbog]

//Things are a whole lot scarier if you look instead at the FTSE 250.//

Take another look. It is recovering.

[naomi24]

//It Is Not All Doom And Gloom.//

It is, AOG, you know it is! Oh ... woe is us!!! The end of the world is nigh!!

[naomi24]

Incidentally, I have it on very good authority that one of the biggest names in the City and the world has told its staff, "It's business as usual".

[CrapAtCryptics]

All the stocks and currency movement since Thursday was just a kneejerk grab a quick profit game by the dealers - no effects will kick in for real terms any time soon - so its all supposition as no one can accurately predict even part of what will happen. That said I`ll make one of my own stocks and currencies will be back to normal levels within a month.
Anyone else want to chip in to the Jamie Oliver ticket fund.

[ToraToraTora]

sour grapes are up!

[jim360]

As I said on Sunday, we've only had a couple of days yet. Too early to judge. But then if two days of major market falls aren't enough to judge that we are on the verge of a major crisis, why are a couple of days of relative calm? As has been pointed out a few times, nothing has in practice changed yet, except the mood, and we have a couple of years yet before the actual changes are expected to happen.

Nevertheless, leaving has caused business uncertainty, and is about to embroil the government in years in a fiddly process of negotiating new arrangements, and that's just going to divert energy from the real problems this country faces that have nothing to do with Europe or the EU.

[stuey]

To wax almost poetically, a butterfly has dropped a pebble into a pond.

[naomi24]

Jim, what do you consider this country's 'real problems' to be?

[naomi24]

stuey, haha! That could have been worse! :o)

[jim360]

Well, according to Boris Johnson (whose quote that is): "low skills, low social mobility, low investment etc"

[Berniecuddles2]

its all a worry ..not!

[naomi24]

Jim, so is that your opinion - or Boris Johnson's - and if it's his did he actually say that these are "the real problems this country faces that have nothing to do with Europe or the EU"?

[vetuste_ennemi]

"Nevertheless, leaving has caused business uncertainty, and is about to embroil the government in years in a fiddly process of negotiating new arrangements, and that's just going to divert energy from the real problems this country faces that have nothing to do with Europe or the EU.".

Jim, do you think we will be less able to solve the "real problems" as a sovereign nation than as a vassal of the EU?















?

[jim360]

That is an actual quote of Boris Johnson's, yes, from February this year. In the interests of fairness I should provide the context of the quote (my version is slightly paraphrased but hopefully only to make it speak about things that have happened rather than what might happen), at the end of this post. I think it plays into the general suspicion that BoJo hitched himself to the Leave wagon for political reasons, which explains his softening of the tone somewhat in the wake of a victory that he might not himself have seen coming or even wanted.

http://www.telegraph.co.uk/news/newstopics/eureferendum/12145593/Voters-have-to-ask-Donald-Tusk-some-hard-questions-before-they-accept-his-EU-deal.html

[jim360]

As to vetuste: it hardly matters now, since we are stuck with a future in which Britain will leave the EU. I don't see how it's possible to judge whether or not this was better.

[naomi24]

Oh, Jim, why do you do it?

He went on to say, “Against these points we must enter the woeful defects of the EU. It is manifestly undemocratic and in some ways getting worse. It is wasteful, expensive and occasionally corrupt. The Common Agricultural Policy is iniquitous towards developing countries. The EU is legislating over an ever wider range of policy areas, now including human rights, and with Britain ever more frequently outvoted. There is currently no effective means of checking this one-way ratchet of growth-strangling regulation, and to make matters worse the EU is now devoting most of its intellectual energy to trying to save the euro, a flawed project from which we are thankfully exempt. The EU’s share of global trade is diminishing, and the people who prophesy doom as a result of Brexit are very largely the same people who said we should join the euro.”

There’s more…. but you know that.