EU referendum are you in or out

[PFVA]

How surprising!

http://www.bbc.co.uk/news/world-europe- ... ws_central

That's regarding to EU Citizens but regarding to non-EU migrants and refugees lots in the Noth of France want to return the boarder to the UK. That is if the thousands hanging out near Calais want to jump on boats or whatever and try to cross the channel that's up to the UK to deal with problem. People in the Mediterranean countries are tired of having to play board guards to countries further North where the migrants want to go.

[KlaxonCow]

I doubt that it rested on any one particular concern for the 4% who tipped the balance.

Well, we know that for one particular voter, it all rested on getting the good eggs from Farmer John and not having to watch the Euros next year.

And, for another, they voted Leave because they thought Remain was going to win, so it was a protest vote and now they're devastated to discover that what the majority of people vote for is actually what wins. Who knew?

Good luck to anyone wanting to try to extract any kind of statistical meaning or significance from such excellent data points.

[snaff]

You don't need abstract reasons to leave. For instance, the ECB is printing money right now.

If you're worried about that we've just had to commit to printing up to £250bn more to cover the fallout from this terrible decision

I'll be voting to leave the BoE when the time comes too.

But out of interest how did the ECB's monetary policy affect you today? Did it make your cornflakes taste terrible?

They are attempting to fix prices by changing the price of money. Prices signal where capital can be efficiently allocated so distorting them causes inefficiencies. Corporations and even countries that should declare bankruptcy, allowing their resources including humans to be allowed to do something productive are instead being propped up - it's a waste of lives. Actually had Greek yoghurt for breakfast.

[tufty]

Actually had Greek yoghurt for breakfast.

You are worse than hitler.

[gumboot]

It's very difficult to find non-Greek yoghurt here. Don't let it happen in your country.

[Harlequin]

[snaff]

FTSE now recovered as all Brexit fears turn out to have been unfounded.

[Space Cowboy]

Interesting comment, albeit not by an economist - self-confessed, here;

[pogo]

FTSE now recovered as all Brexit fears turn out to have been unfounded.

The FTSE 100 yes. Not the pound though. Probably these are related. The 10% fall in the £ is good for many firms, who will benefit from a more competitive exchange rate.

And some shares have not recovered. Banks which suffered the worst falls on Friday are still well off their pre-Brexit levels. The broader FTSE 250 is still well down too.

[gravy]

FTSE now recovered as all Brexit fears turn out to have been unfounded.

In what currency? Have a think about what the answer to that means

[Cloudane]

Counterpoint: is anyone in this forum prepared to admit that they didn't know that this claim was specious?

I'd never have believed this claim for a second. Optimist I may be but still have a healthy amount of cynicism when it comes to politicians - particularly the likes of Farage.
Was it a claim I thought important enough to dig up the hard figures on and actually disprove, no. Facts and self-investigation are important but have to be prioritised and frankly if it looks like bullshit, smells like bullshit and came out of the arse end of bovines (with apologies to bovines everywhere for the insult) then it's probably bullshit.

The surprise is how readily Farage admitted it was bullshit. Got to hand it to him, at least he's openly dishonest.

[snaff]

FTSE now recovered as all Brexit fears turn out to have been unfounded.

In what currency? Have a think about what the answer to that means

Sterling fell from $2.10 to $1.60 not long ago, it's all pretty meaningless. The FTSE is going to be a lot lower and or Sterling will be a lot lower in the years to come. If a collapse starts now Brexit will get the blame, but you have to ask why we're in such a vulnerable position to begin with. The EU is only one of many very misguided institutions.

[pogo]

A 10% fall is a a 10% fall. If it stays like this much longer you will prices rising accordingly: perhaps petrol first as that is most sensitive to oil prices, but eventually everything that is imported will be affected.

Another reason the FTSE 100 rebounded is probably foreign investors taking advantage of the cheaper pound. That’s good in another sense as it implies they don’t think the pound will fall much further. An anticipated 10% fall was mentioned in the run up to the vote, and it does seem to have stopped falling for now.

[gravy]

FTSE now recovered as all Brexit fears turn out to have been unfounded.

In what currency? Have a think about what the answer to that means

Sterling fell from $2.10 to $1.60 not long ago, it's all pretty meaningless. The FTSE is going to be a lot lower and or Sterling will be a lot lower in the years to come. If a collapse starts now Brexit will get the blame, but you have to ask why we're in such a vulnerable position to begin with. The EU is only one of many very misguided institutions.

It hasn't been $2 for over 8 years. I've been working as an export for years now and need to be acutely aware of exchange rates as my costs are in £.

If the £'s weakness is a step change we're looking at price rises in a few weeks in a lot of imported goods that will affect everyone.

And if the economy heats up through the benefits of cheaper exports it's likely going to mean with an interest rate rises.

The reason the market and our currency has fallen is because the rest of the world judges us to be less capable of growth and worthy of investment than we were before Brexit.

[pogo]

And if the economy heats up through the benefits of cheaper exports it's likely going to mean with an interest rate rises.

I’m 100% sure that won’t happen. For one the prices rises will be temporary and one-off, and so inflation will go up in the coming months, but down again 12+ months from now. The BoE explicitly targets inflation 6 - 12 months in advance. Secondly inflation is low now; even if it rises it might only reach 2% or a little more, hardly something to worry about.

But most importantly the inflation rise is a sign of economic weakness, not strength. It will hit people in their pockets. Wages are rising at around 2%, so if inflation rises that far it will mean real wage growth is flat, even negative. the BoE won’t need to raise interest rates to rein in the economy, the slump because of the Brexit uncertainty will do it for them.