Tuesday, June 28, 2016

BREXIT: The Fallout




Doom Merchants
I told you so
You will be Sorry

Prior to the BREXIT referendum vote the REMAIN campaign made a series of desperate gloom ridden forecasts on issues from the cost of holidaying abroad to stock market collapse and beyond.  Post LEAVE winning I now see a re-referendum petition has been taken over by grumpy losers

http://www.independent.co.uk/news/uk/politics/brexit-petition-second-eu-referendum-latest-news-vote-leave-a7104076.html


Bad Sports
The key points are

- there was an extended campaign
- Britain voted to leave the EU/ EEC
- That is bloody it
- No second referendum is needed.  Come on


Another Bad Sport

Speaking of bad sports the leader of the Scottish National Party, of course Nicola Sturgeon now connives to remain with the EC, despite losing her previous Independence referendum vote.

Unbelievable.


UK Political Woes
A close friend considering changing his/her BREXIT vote because of the damage that might be done to the Conservative party.  But in practice they should not have worried.  The Labor party is the one that is really in the shit.


Jeremy Corbyn holds crisis talks with shadow cabinet.


Cameron walks the plank, but with honour IMHO.

In the following days let us see what happens.


Financial Perspective:
Too early to tell, but visions of long term financial catastrophe will have to wait by definition.   Short term, I expect volatility, some chaos, but no true calamity.




If CHF to GBP comes down to 1.1, then we can start talking.







German Perspective: Merkel: No need to be nasty
http://www.bbc.com/news/world-europe-36630326


USA Perspective: US and UK special relationship is 'enduring', Obama says after Brexit

http://www.theguardian.com/politics/2016/jun/24/brexit-vote-impact-on-us-donald-trump-election-2016


All Markets Down
Markets may be down.  But all the following markets are tragically overvalued, even at cob Monday June 26:   UK, USA, Japan.  Still overvalued by at least 20% IMHO, and this is a pre-BREXIT evaluation.


Ways Forward
Become aware of what formalities the UK must go through== 
Article 50: The Guide

If you want to currency speculate transfer money from CHF/USD etcetera to GBP now.   This policy works best if you might actually need to spend GBP forthwith, in which case you just bought yourself a nice benefit.



Dead Ringers

Then relax bt listening to Dead Ringers,  whatever your political leanings or beliefs about the BREXIT, it will hit the spot.