Consequences Of Brexit [Part 8] Read First Post Before Posting

[apelike 10]

3 minutes ago, L00b said:

You assume that they have not safeguarded their asset base against Brexit-related risks.

 

It is a naive assumption: over the past 12 months and crumbs, I've seen many of them stroll into the neighbours' offices (relocated from the City) non-stop here in Luxembourg. The latest estimate I've seen, about 2 months ago IIRC, is £800bn's worth of assets already transferred out of the UK.

Ah, so that's why the pound has tanked! 

[Obelix 11]

34 minutes ago, apelike said:

Yes, the poorer in our society were the ones who were mainly hit by austerity with cuts to services etc. This time it will also include the rich and affluent as their shares, profits and pensions tank.

Not really. I think I've only got about 5% of my assets denominated in sterling now...

[Longcol 604]

20 minutes ago, Obelix said:

Not really. I think I've only got about 5% of my assets denominated in sterling now...

What I can shift - personal pension and cash - is over here in Europe.

[melthebell 864]

1 hour ago, apelike said:

Yes, the poorer in our society were the ones who were mainly hit by austerity with cuts to services etc. This time it will also include the rich and affluent as their shares, profits and pensions tank.

I think you need to look closer at that.....

[Albert the Cat 0]

1 hour ago, apelike said:

Yes, the poorer in our society were the ones who were mainly hit by austerity with cuts to services etc. This time it will also include the rich and affluent as their shares, profits and pensions tank.

So shares, profits and pensions didn’t fall in 2008? It was specifically targeted at the poor back then was it? What are you talking about?

 

Pensions like mine for example will not be affected as it is final salary linked. Also, shares tend to be quite resilient over the long term if diversified well enough. 

[Lockdoctor 10]

1 hour ago, apelike said:

 

 

Jo Swinson also stated in 2008 that the UK should have an "in-out" referendum but now she does not agree on the result after one was held.

There were about 550  other MPs who also supported  an "in-out" referendum which is why they voted in favour of holding the 2016 EU referendum.  It's a bit like going to Ladbrokes and placing a bet  and wanting your money back if your horse doesn't win.   Any normal honest person wouldn't support holding a referendum if they are not prepared to accept both potential results.

 

To be fair to the SNP they never supported holding the 2016 EU referendum so they have some justification for not supporting the result.  

[Pettytom 1]

2 hours ago, Obelix said:

Not really. I think I've only got about 5% of my assets denominated in sterling now...

I moved all of mine months ago. It is all in the US,  the EU and the Asian markets. 

 

It is slightly risky for me, as I’m still resident in the UK, so if I decide to cash any investments in, I’m at the mercy of exchange rates.

 

I can’t see any sense in investing in the UK, as it seems hell bent on destroying its economic base. I don’t think that I’m alone.

 

[Lockdoctor 10]

2 minutes ago, Pettytom said:

I moved all of mine months ago. It is all in the US,  the EU and the Asian markets. 

 

It is slightly risky for me, as I’m still resident in the UK, so if I decide to cash any investments in, I’m at the mercy of exchange rates.

 

I can’t see any sense in investing in the UK, as it seems hell bent on destroying its economic base. I don’t think that I’m alone.

 

And then you woke up.

[apelike 10]

1 hour ago, Albert the Cat said:

So shares, profits and pensions didn’t fall in 2008? It was specifically targeted at the poor back then was it? What are you talking about?

I said "the poorer in our society were the ones who were mainly hit by austerity with cuts to services etc." It was the poorer working class in society that actually bore the brunt of austerity not the rich as they had money to cushion the effect. It's also been stated that one of the reasons many of those very people voted leave was in protest to that happening. Something else Cameron had not accounted for.

 

 

 

[Pettytom 1]

19 minutes ago, Lockdoctor said:

And then you woke up.

Thanks for your insight. 
 

Do you have anything sensible to say?

[hobinfoot 25]

At the end of the day no one really knows what’s going to happen. The French foreign minister said he’s worried that the UK will become an aggressive competitor and believes measures should be put in place to protect the EU. As I said in the beginning no one really knows what’s going to happen.

[tzijlstra 11]

18 hours ago, Car Boot said:

No. I mean David Cameron and George Osbourne.

 

Champions of UK EU membership and economic austerity for the poorest and most vulnerable.

Ah, because their world view is massively different. I see!

 

Good job on ignoring the main drivers for your precious Brexit.