The Dow is down, it's only 30 stocks, but yes it's a good buying opportunity as people tend to overreact and make bad decisions, I would actually wait for the market to continue to go down a couple more days. If it's just one day, it's not that great of an opportunity. I think of it this way, the day that I have to worry about a world event that will make me pull my money out of the stock market, it's not my money I should be worried about.
The one thing that is absolutely clear at this point is that for the first time since WWII England will no longer be an unquestioned leader in the European community. I can't believe they did this. They went from the first or second voice in Europe to not in Europe at all. What a tremendous way to bow out of leadership. Prior to WWI Great Britain tried to manage the continent by keeping the other great powers splintered and incapable of acting in unison. Now that Europe has united they have bowed out. The continental system is no longer valid and they'll no longer be in the counsels of the EU. How could Cameron call for this vote with all that was going to be lost if it went the other way? I'm thinking historians will be asking this question for generations.
Cameron was very foolish to call for the vote, he naively assumed it'd be an easy win. He was facing a lot of pressure from his own party and UKIP to hold the referendum, and winning the referendum would've shut them up and helped him stay on longer as Prime Minister. Instead he resigned in shame and will go down as one of the worst PMs in British history, one rank above Chamberlin. Also Scotland and possibly Northern Ireland will vote to leave the UK after this.
The issue here is the contagion, (1) The question in Europe is now what country to going to bolt next, and how many, and is this the beginning of the end of the European Union (2) The fallout in the US is that this is a Western trend and an unexpected election of Trump is much more likely Don't expect a bounceback anytime soon. IMO you keep shorting everything until the market eventually collapses in a few days, then you swoop in and buy when traders are ready to jump out of their office buildings windows or step onto the subway tracks
Normally you'd be right to wait a couple of days. First 1-2 days is when "this is a disaster" prevails. Then people stop reacting and start thinking and by day 3 it starts to rise again. The problem is today is Friday so everyone will have time to cool off over the weekend. If you didn't buy today, the opportunity might not be there on Monday. LOVE the bolded.
Oy. If only David Cameron kept up with his Jets messageboards, we'd never be in such a predicament. On the other hand, it's really only the One Worlders who see the such tragedy ahead. Much the same as they did when UK steered clear of the Euro. Turns out, the Brits were the only smart ones back then, and when the Dexit, Swexit and eventual Frexit follow, we'll all look back and note their foresight on this one also. I was watching a clip of Herman Van Rompuy's comments when the EU won the Nobel Peace Prize. Stupidest goddamn "award" going, but that's a topic for another day. He talked about how Europe had gotten through two "civil wars" over the 20th Century and how the EU brought peace to Europe and has been the "biggest peacemaker" in the history of the world, or some such tripe. Beyond being just load of world class bullshit, it's a very revealing comment. Two "civil wars"! The absurdity. Herman isn't unique, though. And the issue isn't about economic access or trade or whatever other list of make-believe horribles people want to suggest; it's about power. Pure and simple. Today, the EU Commission and the European Commission have less of it. Perhaps even less tomorrow. And UK will still be one of five permanent seats on the UN Security Council. With the fifth largest economy, it will now have its own seat at the WTO table. It wil, still be a founding member of NATO. And, best yet, it will be free of EU Commission dropping new regulations on it from Brussels. Or Strasbourg. Or wherever that bunch of ghouls decides to do its mischief. Looking for someone to blame here? I got one for you. How about none other than Jean Claude Juncker, who decided it would be smart to announce on the day before the election that the EU would not negotiate further with Cameron on immigration. This, while Cameron was selling folks on the notion that it's better to be in the EU and at the table talking. Even Remainers had been admitting that the EU needed to change its heavy-handed ways. But, in one brief, but typically arrogant statement, Juncker confirmed the worst fears of every Leave voter: that the EU was going to dictate the ways of the world to UK and sovereign interests didn't much matter. So, it's all sweet and lovely when these folks talk about trade and the common market, but it's all just a Belgian-sized rubbish heap. They HAD that for 70 years. For the past 20 years it's been about centralizing power in the European mainland.
Remember when a bunch of people were scared bout the stock market in February? lol. Things will be fine.
http://www.afar.com/magazine/what-d...=brexit 6 24&utm_term=Daily Wander Newsletter Long-term effects could be more dramatic; in a report this April, The Economist predicted that exiting the EU could cause the British economy to be between 3.8 and 7.5 percent smaller by 2030. But more important—and more insidious, really—are the interconnected (and admittedly longer-term) issues of passports and immigration. One of the best things about the EU was the principle of free movement among EU countries. This applied both to tourists and to citizens of other EU nations. Now, however, with Britain pulling out, there’s no telling what this might mean for movement between the U.K. and other EU nations. For travelers, this could mean tighter restrictions, more visas, and the increased planning that comes in dealing with both. For more permanent visitors, the situation is direr. An article from Vox.com notes that, at a minimum, Brexit could mean that people moving to or from Britain would need to worry about passports and residency rules. It goes on to say that some British immigrants may lose their rights to continue living and working in the U.K. and be deported—a fact that also could impact the travel industry because many workers in this industry are foreign nationals. It’s worth noting here that resentment of EU immigrants, especially from economically struggling countries such as Poland and Lithuania, was a key factor driving support for Brexit.
Yesterday was a good day. First, SCOTUS slapped the divider-in-chief across the face. Then, Brexit taught Soros and Co. a lesson to remember. This would be a great year if we only could get rid of Hildabeast in November.
As an Irishman this is what I find the most interesting part. I wonder if this could set the stage for a united Ireland. If they leave the UK and now are sharing a currency with the south then I wonder if it could help bridge the gap. Obviously it's more complicated than that, they are two separate countries with their own governments and policies and whatnot, but it could be a step in the right direction.
With the bad polling in the UK, what a dumb lady: The UK's decision to leave the EU has cost one unlucky better £100,000 ($136,782) according to bookmaker William Hill. http://www.businessinsider.com/brex...ost-100000-betting-on-remain-2016-6?r=UK&IR=T
So who's next, how many will follow suit, and is this the beginning of the end of the EU all together?
