The Pitters' Place

Playing Devil's Advocate for a bit, the nation's economy may not be too badly hurt in the mid-term once the initial shock wears off. The ironic part is that the Leave campaign won because many pensioners and working class people voted for it thinking it would increase their lot in life and they will be the one's losing out - especially in the mid to longer term.

Think about it...

Scotland will leave. So the House of Commons will reduce from 650 seats to about 590 seats and there's generally only one Scottish Tory MP. Leaving the EU has also made the likes of Boris Johnson much more popular "South of Border". So the result of leaving the EU has made it much more likely we're going to see more Tory governments, with larger majorities going forward.

(This is further helped by Labour's current p!ss poor performance at... well pretty much everything except the London Mayoral election)

And what do Tory government's care about? Is it Big Business, Low Taxes and trying to Balance the Books? Or is it about the NHS, looking after the poor and vulnerable in our society and investing in Society even if that means raising taxes, borrowing money or hurting business?

So... There's a reasonable chance the nation's economy will come back reasonably quickly because they'll engineer that no matter the cost. But that cost may well be "people"...

Cassius Clay wrote:My favorite take in all this is the irony in a country that colonized the world voting to destroy itself out of a paranoid victim fantasy about being colonized.

Anakin McFly wrote:@Gendo - I work at a financial advisory firm, and the advice is to hold on to that stock, because other indicators are still holding steady and suggest that this is a temporary sell-off triggered by unsubstantiated panic. What's your percentage loss so far?

James Paulsen, chief investment strategist at Wells Capital, said once some of the uncertainties are resolved, the sell off could be short lived and stocks could end higher on the year.

"It is interesting where we closed in the United States market (Friday). We basically had a stock market that was a little over 1 percent lower than it was a week ago Friday," said Paulsen. "We had a bond yield that was unchanged and a dollar that was up maybe a percent. My point is a lot of this is emotional consequences and this collapse had more to do with how much it went up in the four days prior."

Paulsen said the selloff could still be rough, but in several weeks from now, markets will likely be a lot more stable.

Derived Absurdity wrote:

Cassius Clay wrote:My favorite take in all this is the irony in a country that colonized the world voting to destroy itself out of a paranoid victim fantasy about being colonized.

That's definitely been mine.

Anakin McFly wrote:A lot of people are selling right now for the same reason, which means the stock is going to fall further, which would result in more people buying in when it's cheap, and then it'll go back up. But I'm not sure how long that would take, so it also depends on how much longer you plan to keep it. Do you have any financial advisor to talk to?

EDIT: From CNBC:

James Paulsen, chief investment strategist at Wells Capital, said once some of the uncertainties are resolved, the sell off could be short lived and stocks could end higher on the year.

"It is interesting where we closed in the United States market (Friday). We basically had a stock market that was a little over 1 percent lower than it was a week ago Friday," said Paulsen. "We had a bond yield that was unchanged and a dollar that was up maybe a percent. My point is a lot of this is emotional consequences and this collapse had more to do with how much it went up in the four days prior."

Paulsen said the selloff could still be rough, but in several weeks from now, markets will likely be a lot more stable.

http://www.cnbc.com/2016/06/26/how-brex ... -week.html