--snippets
Spain has said it will veto an "Independent Scotland" trying to join the EU. Spain doesn't want to encourage separatist movements in Catalonia(part of spain) from calling for independence referendum.
Jim Rogers says EU bloc and the Euro currency - gone in 5 years
I got this view because since so many are calling for referendums and trying to get out of the EU, the uncertainty is what happens when they get out. That is a very great opportunity.
I got a feeling Britain or some smart guy could champion creating their own "non frills" trading bloc to get around the EU. retaining the good things but minus all the ugly rules and restrictions of course. That would give UK new leadership in europe and also satisfy Scotland. It's a political opportunity that will keep some party in power for a long long time.
(01-07-2016, 10:00 AM)Porkbelly Wrote: [ -> ]"One of the most brazen features of the Brexit vote was the utter repudiation of the bankers and economists and Western heads of state who warned voters against the dangers ..."
Since 2008, lots of people who were deemed experts in the field of economics, policies, etc have predicted doom, collapse and market mayhem. It would be like going back to depression years of 1930s.
Its been 8 years since.
Markets chugg along just fine.
Grexit came and went with no mayhem.
China was supossed to have a hard landing.. and no one knows if its soft or hard as it seems its still "landing"
USA has not imploded.
The general, retail, common folks dont see the doom that was predicted by experts.
They dont believe it.
But they do see the wealth being flaunted around:
Expensive property prices
Expensive cars
Expensive new phones
Expensive restaurants
We live in an age where experiential learning is ultimate.
Agree. In general the policy makers had to do the thankless job, banks recap on public funds, bankers laugh to the bank and sue those that didn't give them what they "deserve", and populace thinks that the policy makers are BS and they've been taken for a ride (not knowing how different the ride could have been)
Adjust the incentive structure (including accountability disincentive like claw back of bonus and jail terms for gross negligence) and deleverage is the right way to go. However low interest rates has been for far too long that after the shock and sharp deleveraging, leverage is going up again which is unintended
IMHO its about time for the world econonmy to undergo a serious deleveraging and reset to get out of the mess.
Unless a particular country wants to "protect" its uncompetitive industries, there really is not much use for trade deals.
IMHO EU breaking apart is a matter of time.
Just like the five stages of grieving, the central banks and investors are still in the stages of DENIAL / ANGER and BARGAINING. The Scottish are DENYING the result, Many who lost the vote are also very ANGRY. There are also many hoping that they can BARGAIN away the pain of the BREXIT.
hopefully they can get to depression soon and accept that BREXIT is a reality and start to work on some solutions.
The other EU nations are still in DENIAL that the EU is more or less dead IMHO LOL...
The risks and consequences will not become clear until 2-3 years later. If Britain does well after leaving the EU then the EU project is doomed because the euro-sceptics will now point to its success and people will be convinced to leave the EU quite easily.
Its in the EU's interest to see UK fail outside the EU, but ironically it will also end up hurting them because UK is the 2nd largest economy in Europe. Heads or tails, the EU cannot win.
(01-07-2016, 07:22 PM)lilvestor Wrote: [ -> ]The risks and consequences will not become clear until 2-3 years later. If Britain does well after leaving the EU then the EU project is doomed because the euro-sceptics will now point to its success and people will be convinced to leave the EU quite easily.
Its in the EU's interest to see UK fail outside the EU, but ironically it will also end up hurting them because UK is the 2nd largest economy in Europe. Heads or tails, the EU cannot win.
So long as UK fare worst than EU, EU council can blame on UK. EU lose but EU council wins and it is more important to EU council that they win.
(01-07-2016, 05:40 PM)sgd Wrote: [ -> ] (01-07-2016, 12:52 PM)Behappyalways Wrote: [ -> ]Interesting to read The Telegraph how Boris got backstabbed
https://www.youtube.com/watch?v=RYPoGuTTrdA
http://www.telegraph.co.uk/
interesting turn of events.
they do all the work and somebody else comes along and just snatches it
and maybe twists or trade it for something else
more drama ahead.
If the report is true, the someone didn't snatch it. It was never in that one's hand in the in the first place.
interesting short documentary that's just released, they were actually old school mates and also rivals
So after losing the brexit referendum cameron resigned then BoJo said he would not race for the PM position. Am wondering did he get played or was it voluntary? did he feel bad about that resignation?