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So 4 Business Days Later, We Are Back Where We Were, Who'd Have Though It?
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The pound is on its way back up. Last Friday the SGB were all in a tizzy and we where heading for financial penury. Project fear still goes on but does this not demonstrate the total hysterics of the remainiacs?
The pound is on its way back up. Last Friday the SGB were all in a tizzy and we where heading for financial penury. Project fear still goes on but does this not demonstrate the total hysterics of the remainiacs?
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These Remainiacs have very short memories.
What happened to their dire warnings, pre-referendum, about this being a one off, final decision. 'It's not like jumping off a bus and then hopping back on' etc, etc.ad infinitum.
I don't know why decent people still pay any attention to them.
Like with whining children, there comes a point where instead of indulging them, one should simply ignore them.
There may be things to come where they could have had a case for pointing at and blaming Leavers but they've lost any credibility now. Who cares what they say about anything now.
What happened to their dire warnings, pre-referendum, about this being a one off, final decision. 'It's not like jumping off a bus and then hopping back on' etc, etc.ad infinitum.
I don't know why decent people still pay any attention to them.
Like with whining children, there comes a point where instead of indulging them, one should simply ignore them.
There may be things to come where they could have had a case for pointing at and blaming Leavers but they've lost any credibility now. Who cares what they say about anything now.
As I posted on the weekend, one or two days isn't enough to judge that we have entered continuing downwards trends and medium-term market chaos. This is true, as it's turned out, given the two days of market recovery.
On the other hand, it's still true. Two days of recovery doesn't mean that markets are now stable and have stopped caring. The pound is still struggling to recover its Monday losses against the dollar, reaching $1.35 yesterday but then losing a cent over the course of the night before recovering somewhat this morning. Nothing material changed as a result of the vote so the reaction was panicky and perhaps premature, and this has allowed a rapid return to the previous position, but it is still too early to judge where the market is going. Some sources have apparently suggested that the calming of moods is due to an expectation that Article 50 won't be triggered, or at least that Brexit won't be nearly so extreme as maybe some in the Leave campaign would want. Johnson's position seems to have softened a little, although it may yet change again of course.
People are still waiting to find out how far out of the EU the UK will go. This means that we have two years to wait before the actual nature of the deal is known; until then it seems likely that markets will go up and down as usual but with slightly less stability.
On the other hand, it's still true. Two days of recovery doesn't mean that markets are now stable and have stopped caring. The pound is still struggling to recover its Monday losses against the dollar, reaching $1.35 yesterday but then losing a cent over the course of the night before recovering somewhat this morning. Nothing material changed as a result of the vote so the reaction was panicky and perhaps premature, and this has allowed a rapid return to the previous position, but it is still too early to judge where the market is going. Some sources have apparently suggested that the calming of moods is due to an expectation that Article 50 won't be triggered, or at least that Brexit won't be nearly so extreme as maybe some in the Leave campaign would want. Johnson's position seems to have softened a little, although it may yet change again of course.
People are still waiting to find out how far out of the EU the UK will go. This means that we have two years to wait before the actual nature of the deal is known; until then it seems likely that markets will go up and down as usual but with slightly less stability.
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