Brexit is killing the Dow futures in overnight.

[oldno7]

Off 500ish already!!!

[Iceaxe]

Also the pound and euro are racing each other to the bottom.

The dollar is going to be strong.

[accadacca]

So how does this affect the US economy?

[Iceaxe]

This is uncharted territory. No one knows how it will effect anyone's economy. In the short term people will park their money where they think it will be safe.

But this is probably going to have a large domino effect as I now expect Scotland will withdraw from the UK, declare it's independence and rejoin the EU.

The dollar should be really strong against the pound and euro for at least the short term. If you want to visit Europe this is probably the time to do it.

[accadacca]

http://gif-finder.com/wp-content/uploads/2015/03/Mr.Bean-Middle-Finger.gif

[Sombeech]

Alright, I'm not rehearsed in stock market lingo or other world currencies, what is Brexit?

[Scott P]

Alright, I'm not rehearsed in stock market lingo or other world currencies, what is Brexit?

Britain's + exit = Brexit.

[Scott P]

But this is probably going to have a large domino effect as I now expect Scotland will withdraw from the UK, declare it's independence and rejoin the EU.

At first I thought this was fake or a joke, but it is real::eek2:

https://scontent-sea1-1.xx.fbcdn.net/v/t1.0-9/13507267_1168578806568505_5251103554990512682_n.jp g?oh=5e42d5b5a25496959c7dfb120a74d798&oe=57F29562

Anyway, my own thought is that the US should stay out of the decision (of course they won't, but they should), no matter which political side you are on and even if it does affect the DOW for a time. This really is none of the United State's business, though I'm sure Trump, Obama, and Hillary will all make an issue of it. The best thing we can do is to step aside and let those own countries make their own decisions.

[Iceaxe]

The US has stayed out of Brexit pretty much, except for Obama who lobbied to stay on his last visit.

And I'm not sure who the dumbass Lilly is, but the UK voted out and last time I checked Scotland was part of the UK.

In the long haul this shouldn't really effect the US much.

[stefan]

And I'm not sure who the dumbass Lilly is, but the UK voted out and last time I checked Scotland was part of the UK.



likely referring to the way scotland voted rather than the UK as a whole. here is the voting breakdown


84252

84253



Scotland's first minister has said a second independence referendum is "highly likely" after the UK voted to leave the EU.

Nicola Sturgeon said it was "democratically unacceptable" that Scotland faced the prospect of being taken out of the EU against its will. She said the Scottish government would begin preparing legislation to enable another independence vote.

Scotland voted in favour of the UK staying in the EU by 62% to 38%.

[accadacca]

http://i.onionstatic.com/onion/5370/5/16x9/700.jpg
Queen Elizabeth Screaming At Stockbroker To Dump Everything

LONDON—Following the United Kingdom’s historic vote to exit the European Union, sources confirmed that Queen Elizabeth II spent Friday frantically screaming at her stockbroker to dump everything. “Just get rid of whatever we have—right now, goddammit!” said Her Royal Highness, who reportedly slammed her fist against a 16th-century desk while shouting at her broker over the phone. “There’s no time, so dump the whole ****ing portfolio—all of it—on anybody who will take it. Just hurry the **** up and do it!” At press time, after speaking with several financial advisors, Queen Elizabeth had gathered the rest of the Royal Family together to inform them they will have to cut back by eliminating servants and start pitching in more around Buckingham Palace.


http://www.theonion.com/article/queen-elizabeth-screaming-stockbroker-dump-everyth-53157

[Scott P]

http://www.bogley.com/forum/images/metro/blue/misc/quote_icon.png Originally Posted by Iceaxe http://www.bogley.com/forum/images/metro/blue/buttons/viewpost-right.png (http://www.bogley.com/forum/showthread.php?p=578090#post578090)

And I'm not sure who the dumbass Lilly is, but the UK voted out and last time I checked Scotland was part of the UK.




likely referring to the way scotland voted rather than the UK as a whole. here is the voting breakdown

This. Almost twice as many Scots voted to stay in the EU vs. leaving. Congratulating Scotland for the vote of leaving is like congratulating Utah for electing Obama.


The US has stayed out of Brexit pretty much, except for Obama who lobbied to stay on his last visit.

Thus far, but Trump is also trying to get into the action as well even though he is almost universally hated in the UK.

I wouldn't be surprised if Hillary tried to jump in on the bandwagon as well.

[Iceaxe]

Yes, I understand the Scotland shit, but they still voted to leave as a whole. The same way Utah gets stuck with Obama even though he received a small percentage of the Utah vote.

The big difference is I now expect Scotland to bail on the UK, and we all know what happened last time a state tried to leave the USA.

[Glenn]

Yes, I understand the Scotland shit, but they still voted to leave as a whole. The same way Utah gets stuck with Obama even though he received a small percentage of the Utah vote.

The big difference is I now expect Scotland to bail on the UK, and we all know what happened last time a state tried to leave the USA.

Not even remotely close.

Not only did Scotland vote to remain (by a margin of 62% to 38%), but every single shire (county) voted to remain. Secondly, Scotland is, in fact, a country and is not bound to the UK in the same way as a state (much to the chagrin of some of my fellow Texans).

This is a turning point for Scotland and will galvanize them to finally put up a referendum to leave the UK and likely join the EU. But I highly doubt it will be anything equivalent to what you're suggesting.

[Iceaxe]

**insert eye roll here***

By any chance was your bus shorter than the other buses at your school?

[Iceaxe]

I just noticed this little Brexit vote cost me over $30k today. That's a lot of hookers and blow.

[Scott P]

Actually, it's about 90% of the world's counties, rather than half. :wink:

https://scontent-sea1-1.xx.fbcdn.net/v/t1.0-9/11260831_450563181735389_4676403690791692439_n.jpg ?oh=efbfb8cfe96813900e62ddc49e0306d6&oe=580EA6C2

[Scott P]

I just noticed this little Brexit vote cost me over $30k today. That's a lot of hookers and blow.

Maybe so, but if you want some European hookers and blow, you could actually come out ahead since the exchange rate is good.

[Iceaxe]

***starts dialing travel agent***

[oldno7]

Scotland reacts..


https://www.youtube.com/watch?v=xULF6uUCa7Y

[accadacca]

Strong words from the Scots. Interesting that Londoners voted 60% to stay in the EU.

[Iceaxe]

So basically William Wallace was the last Scott who had any balls.

[Sombeech]

I was wakesurfing at Pineview when all of this news about Brexit happened, so I didn't get to watch any of it go down, nor have I chosen to study up on this topic.

I stand by my decision.

[Iceaxe]

There is blood in the water and stocks are low... probably a good time to buy.

I also predict 10 years down the road Brexit will prove good for the UK.

/Bookmarked

[Rob L]

I voted out. The darn Krauts tried to take over the UK in 1914 and again in 1939 and again in 1975. This time I have had my say. Further: England needs to get rid of the Scots (huge £££ burden...and I'm part Scot myself, so I say that with equanimity )

I'm surprised that the Bogley Community has taken so long to make mention about what will affect the US as well as us over here.

Rob

[oldno7]

globalization destroys wealthy countries, plain and simple.

It's nice to be able to help other nations but when you do it at your own countries peril, it's not wise.

We have enough problems left unsolved in this country that need repair.

Liberalism is death to any country and history has proven this.

[Iceaxe]

globalization destroys wealthy countries, plain and simple.

Gobalization makes all countries equal....

....equally poor....

[accadacca]

http://i.imgur.com/5UHyn3c.gif

[Brian in SLC]

globalization destroys wealthy countries, plain and simple.

Liberalism is death to any country and history has proven this.

Interesting statements.

What wealthy country has globalization destroyed?

China? Germany? The US?

Which one(s)?

Liberalism has caused the death of what countries?

(Please don't say Nazi Germany...!)

Just curious. Seems like absolute statements of facts. I just can't think of any obvious examples, and, plenty of "state failures" that weren't due to liberalism and globalization.

[Brian in SLC]

I voted out. The darn Krauts tried to take over the UK in 1914 and again in 1939 and again in 1975. This time I have had my say. Further: England needs to get rid of the Scots (huge £££ burden...and I'm part Scot myself, so I say that with equanimity )

I'm surprised that the Bogley Community has taken so long to make mention about what will affect the US as well as us over here.

Rob

Interesting POV, Rob. You're the first person I've heard of voting for leaving the EU.

You voted out because of Germany?

What were the other reasons?

I'm not sure how this might affect the US election in the fall, but, it could have some influence. I mean, your PM stepped down. Wow. The pound plummeted to being worth 1.33 USD. A euro is 1.11 USD. Wow. Book a trip across the puddle!

No kidding...we've been tracking airline fares to Europe. They took a huge dive today. Nearly two tickets for the price of one. Pulled the trigger. Unreal. Delta Airlines. Crazy. Related to all this business, or, travel down to Europe, or, low oil prices, or, all three? Maybe.

Someone on the news today mentioned a poll earlier this year (or late last year) if they would vote for uncertainty and change or stay the same. 53% of US voted for change. Interesting. We'll see how it goes...

[Brian in SLC]

So basically William Wallace was the last Scott who had any balls.

I believe the English removed them whilst he was still alive...(yikes).

[Iceaxe]

Reminds me a lot of chicken little.... no factories were bombed, no people were killed, no treasuries were looted, no women were raped or villages pillaged. There is really no logical reason for both the pound and euro to fall so far other than fear mongering. England and the rest of Europe will still be standing tomorrow.

[oldno7]

Interesting statements.

What wealthy country has globalization destroyed?

China? Germany? The US?

Which one(s)?

Liberalism has caused the death of what countries?

(Please don't say Nazi Germany...!)

Just curious. Seems like absolute statements of facts. I just can't think of any obvious examples, and, plenty of "state failures" that weren't due to liberalism and globalization.

http://www.usdebtclock.org/

[oldno7]

http://www.zerohedge.com/news/2015-05-22/it-mathematically-impossible-pay-all-our-debt

I'm sure you know how the Fed. reserve works and you have a full grasp of Quantitative easing.

So are we prosperous or living on borrowed time(and money)?

[oldno7]

Interesting statements.

What wealthy country has globalization destroyed?

China? Germany? The US?

Which one(s)?

Liberalism has caused the death of what countries?

(Please don't say Nazi Germany...!)

.

Venezuela

[oldno7]

I wouldn't say the EU's collapse is imminent but if more players bow out it will surely collapse.

EU pretty much is the definition of globalism.

Mass immigration will speed the collapse.

[Scott P]

When speaking of globalization, it is important to point out that the US itself is probably one of the best examples of globalization there is. Keep in mind that the US covers more than twice the amount of land as the entire EU combined (though the EU has more people, though this could change in the next century).

Not only did the US interact and integrate with other nations, but actually combined them to make one super-nation stretching across an entire continent.

[Rob L]

Interesting POV, Rob. You're the first person I've heard of voting for leaving the EU.
Hello Brian:

Well 52% of my fellow Citizens did too...?:smile: You & I must lead different lives and meet different people. I get forced to sell fruit & vegetables by the Kilo, not the pound. I have to buy petrol by the litre, not the gallon. They do graciously allow me buy beer by the pint.

I cannot have straight bananas, or bent cucumbers. My butchers have to give up their traditional old wooden chopping boards because they are unhealthy. Only for them to be reintroduced 10 years later because the plastic replacements were "too unhealthy".

Great Britain joined the EEC in by Referendum in 1975. That trade agreement (like EFTA, NAFTA, and other well-established free-trade agreements) had no political overtones. Since then we have been slowly, ever so slowly, under the progressive influence, politically, of the Germans.


I voted out, and I don't care of the implications. I have had enough with the status quo, and so have the majority of the people in my country.

Sorry for going on so.


Rob

[Scott P]

I'm surprised that the Bogley Community has taken so long to make mention about what will affect the US as well as us over here.

Most Americans (Bogley members may be better?) don't even really know what the EU is. Reading through the comments on news stories is embarrassing. Some are confusing the EU with the UN and some are even confusing it with NATO. :roll:

Many Americans (probably the majority) can't even point to the UK on a map.

Anyway, for your entertainment:


https://youtu.be/7SkN1h5fJKM

As for myself, I say let the UK decide for themselves and keep the US out of the decision.

[BruteForce]

Most Americans (Bogley members may be better?) don't even know what the EU is. Reading through the comments on news stories is embarrassing. Some are confusing the EU with the UN and some even with NATO. :roll:

A lot of Americans (maybe even a majority) can't even point to the UK on a map.

Anyway, for your entertainment:


https://youtu.be/7SkN1h5fJKM

As for myself, I say let the UK decide for themselves and keep the US out of the decision.

Agreed! I've lived ~17 years abroad in Europe, spent good time in the UK (Basingstoke, etc) and can pinpoint most of the world on the map. That being stated, I know with certainty, most Americans couldn't spot Kansas on the map let alone the UK or Germany.

Most of what Americans seem to know these days comes from Hip-Hop, music videos and anything discerned via Twitter. Sad days..

[Scott P]

This is probably about average for us Americans:

http://static.boredpanda.com/blog/wp-content/uuuploads/americans-place-european-countries-on-map/americans-place-european-countries-on-map-1.jpg

[BruteForce]

Scott P. Your map is spot on, only most would not know France for Spain. Italy might be the only given, but Greece, Scotland, Ireland, Germany, and all the other European or Baltic countries would be huge unknowns.

[Brian in SLC]

http://www.zerohedge.com/news/2015-05-22/it-mathematically-impossible-pay-all-our-debt

I'm sure you know how the Fed. reserve works and you have a full grasp of Quantitative easing.

So are we prosperous or living on borrowed time(and money)?

Yes.

Although, even though I read a smattering about economics, etc, I'm reasonably ignorant to some (maybe most) of its nuances.

[Brian in SLC]

Venezuela

Really?


https://www.youtube.com/watch?v=G2y8Sx4B2Sk

Chavez was very vocally against globalization.

[oldno7]

I was speaking to liberalism(but you knew that)

[oldno7]

United Socialist Party of Venezuela (https://en.wikipedia.org/wiki/United_Socialist_Party_of_Venezuela)

chavez wasn't a capitalist:roflol:

socialism only works until you run out of everyone else's money, despite what bernie told you.

[Brian in SLC]

I was speaking to liberalism(but you knew that)

Ahh. Actually, I didn't know that. But I wouldn't hold up the fall of Venezuela as a failure of "liberalism" per se.

And, I'd think Chavez more a Marxist than a proponent of "liberalism".

Venezuela was interesting to visit, especially coming into contact with the different economic classes of peoples. The poor loved Chavez. The rich hated him.

Interesting how much oil we import from Venezuela...low oil prices would kill any economy depending on it. I bought auto gas at a gas station for my camp stove for a backpacking trip across their Sierra Nevada. I couldn't believe the price. 10 cents a gallon. And a long taxi ride of 30 or 40 miles, one way, was something like 15 bucks. In an old, American car. Crazy.

"We hold these truths to be self-evident, that all men are created equal, and are endowed by their creator with certain unalienable rights, that among these are life, liberty, and the pursuit of happiness".

Libtards...ha ha.

[Brian in SLC]

socialism only works until you run out of everyone else's money, despite what bernie told you.

Well, Bernie didn't tell me that.

You're getting close to Social Security (and Medicare/Medicaid)...going to turn it down on principal?

Unless you're incredibly lucky to be born into privilege (like Shane...ha ha), then pure capitalism hasn't worked for the common man either.

I think a blended approach makes sense. Too bad the pendulum has to swing so wide each direction all the time...

[Iceaxe]

Unless you're incredibly lucky to be born into privilege (like Shane...ha ha), then pure capitalism hasn't worked for the common man either.

I have no complaints how capitalism has worked for my family, but my family started with nothing and built a strong company. The entire family contributed.

And I'll give you the same advise my father gave me "if you want to have money you need to own a business. If you work for someone else you'll never get rich, but only make someone else rich as you are just trading dollars for hours".

[Brian in SLC]

I have no complaints how capitalism has worked for my family, but my family started with nothing and built a strong company. The entire family contributed.

And I'll give you the same advise my father gave me "if you want to have money you need to own a business. If you work for someone else you'll never get rich, but only make someone else rich as you are just trading dollars for hours".

Good advice. Your dad's a character...

[Brian in SLC]

Well 52% of my fellow Citizens did too...?:smile: You & I must lead different lives and meet different people.

Possibly so.

Voted out over bananas and cukes. Too funny.

And, we're still on your damn English system of measure. Didn't "they" promise us in the 70's we were moving to metric?

Here's an acquaintance's (and friend of a friend) POV:

http://steviehaston.blogspot.com/

A bit harsh, but, milder than his FB rants...(!)

I work with a few ex-pats, climb and socialize with a few more. And have climbed and canyoned with UK folk in Europe. Yeah, all in the 48%.

Interesting. We'll see...

Thanks.

[Iceaxe]

And, we're still on your damn English system of measure. Didn't "they" promise us in the 70's we were moving to metric?

Carter put us on the metric system and Reagan took us back off, which is to bad because we were well on our way to converting.

[Scott P]

Carter put us on the metric system and Reagan took us back off, which is to bad because we were well on our way to converting.

It was actually Ford that signed the Metric Conversion Law into effect. Reagan killed it though. I agree that it is too bad. The metric system is no much easier mathematically and scientifically.

In the long run, converting to the metric system would save billions, but I don't see it happening anytime soon. Too bad there are so many old farts around that are resistant to change.

[oldno7]

Well, Bernie didn't tell me that.

You're getting close to Social Security (and Medicare/Medicaid)...going to turn it down on principal?

Unless you're incredibly lucky to be born into privilege (like Shane...ha ha), then pure capitalism hasn't worked for the common man either.

I think a blended approach makes sense. Too bad the pendulum has to swing so wide each direction all the time...

We have been living under a "blended" approach.

The US has many "Social" policies(socialism)--All are un sustainable.

"Social" security, which you mention, is a huge part of this nations growing debt.

When I was young, it was honorable to get a job and contribute to society, an actual source of pride, in most who did such.

Social security, like obamacare, are legalized pyramid schemes.

Social security would only work if there was a workforce equal to or exceeding retiree's benefits.

As we all have seen at bernie rallies, a very high percentage of youth, those who would pay into SS, if they were employed, are voting for a country of handouts.

The young workforce does not equal the aging, retiring baby boomers SS benefit, so, we, as a country, borrow, often from ourselves by printing more money.

As to o-care, it demands every American sign up. We then run into a very similar problem.

0-care can only work if the young and healthy, pay in to support the old and aging, who generally require more medical treatment.

But most all youth are healthy and cannot see paying for something they will likely not need.

So 0-care creates a shortfall, which is easily remedied, we borrow, often from ourselves and pay the shortfall

We borrow from ourselves by having the fed(a private entity) print money but every dollar they print, is backed by the US government.

We, as a country, don't have money to pay off the fed, so we go deeper in debt.

And--as an added benefit, whenever the fed, distributes more money, that is backed by nothing, it causes the value of all goods to increase(inflation),

soon to be followed by hyper inflation, which is what we see in Venezuela.

Socialism, by it's very nature, can only survive for a short time.(historically)

To answer your question as to if I will turn down ss, when the time comes to collect:

I've been paying into ss for 42 years, I helped our fathers and grandfathers have a retirement benefit.

I never expected to have to rely on ss, so I have situated myself were I would not rely on it but rely on myself and investments I've personally made, to this end.

So, to date, I've paid in a lot of money and received none. Will I want to recoup some or all of my investment, I paid into others retirement? Sure, will I depend on it? No.

[Iceaxe]

As far as stocks are concerned turn around Tuesday looks like it's going to roll into winning Wednesday.

There was really no logical reason for stocks to tank so badly with the Brexit vote. It now looks like clam is replacing panic.

[Scott P]

Oldno7, I agree with much of what you said, but here are some comments.


When I was young, it was honorable to get a job and contribute to society, an actual source of pride, in most who did such.

It still is honorable. No one should ever say otherwise.


As to o-care, it demands every American sign up.

On the flip side, the non-insured cost the insured a great deal of money.

Medical coverage is a tough subject (regardless of political affiliation). Should everyone who has a medical problem through no fault of their own, and who are working full time and have health coverage, be forced to file bankruptcy and lose everything every time they have a medical issue? I don't know, but I do know that my perspective has changed somewhat after my wife had some heart problems.

Even without the surgery, the out of pocket expense was $30K a year, just for a few test. Since we were smart with our money, the only debt we had was our house at the time. Two years back to back was $60K, so we did get a loan for that. I plan on paying back all of it. However, I was in the engineering field, which is high paying. Obviously, it hurt the pocketbook, but I can pay it off. I couldn’t pay 30K every single year though, so I got another job (which I hated, but it was what I felt was right at the time).

What if I didn’t work in engineering though? A lot of people can’t afford to fork out $30K every year.

What if children were involved and it was their parents who couldn't afford the care?

Pure capitalism says that the person must pay 100% of it or die regardless, while pure socialism says that society should help out. As for me, I don’t know. It’s a tough subject. I just know that I plan on doing everything I can to support my own family and that I would (without government intervention) help someone else out if I could and if they needed it.

I don't see anyone solving the medical coverage problem anytime soon.


We, as a country, don't have money to pay off the fed, so we go deeper in debt.

I agree. I wouldn’t blame it all on Obama care or whatever though. Most of the Federal Budget is due to Medicare/Medicaid, Social Security, and National “Defense”.

A lot of the wars we fought really have little to do with our own nation’s defense. Don’t get me wrong, we can help defend countries that share our own values, but we really have no business in fighting wars for countries that don’t share our values.

The true cost of the Iraq War has been in the trillions and we aren’t any safer for it. We spent billions over decades arming and supporting militant Islamic groups and look where it has gotten us.

Many politicians are still screaming for us to arm groups with a long history of terrorism (and look what side of the political spectrum many are on:

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=arm%20the%20kurds

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=support+the+kurds

Like arming the predecessors of al Qaeda and the Taliban (Carter, Reagan [especially), and Bush Sr.), this could easily bite us back in the *ss.

Despite all the praise given to the Kurds, they have a long history of terrorism.

Here is a post I made a few years ago on another forum:

84376

Lets see what has happened since then:

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=kurdish%20bombings

We keep arming all this brutal factions and it always ends up costing us in the end.

Look at the Syrian Refugee situation right now. It was the Iraq war that spilled over into Syria and caused the crisis in the first place. Russia and the United States (and to a lesser extent some European nations) are the ones arming both sides. Both sides are evil and either way this will come back and bite us. We need to protect our country and those who are our true allies, but we don't need to get involved in every single war and arm and support those that don't share our values.

Although both have gotten us involved where they shouldn't have, Republicans are probably at least as guilty for the national debt as Democrats.

I agree with you that social programs can cause people to rely on them and causes a government dependency. You are right in this regard. I believe that there should be some welfare programs, but that the welfare should be worked for (unless someone has a truly valid reason for not working, i.e. and extreme medical condition).

The CCC was a great welfare program during the depression. The CCC provided jobs for those who needed them to feed their needy families, but they were expected to work for their support. The jobs paid enough to keep a family from going without food and shelter, yet paid less than jobs in the private industry, so there was incentive to get off the program as soon as possible. The CCC is much more ideal than what we have today.

As for Government spending, we need to keep our country safe, but we need to spend much less on military conflicts for those that don't share our values. The welfare programs we need are such that they give the maximum motivation possible to get off them. To compete in the world (and like it or not, the economy is global), we need an educated population. Spending on education is necessary. College should not be free, but it should not be so expensive that only a few can afford it. We need a strong infrastructure and public transportation. National Parks and Public Lands are still an asset in my opinion and should be supported. Health care is a mess either way. At the very least, those who live a healthy lifestyle should pay less than those who don't.


To answer your question as to if I will turn down ss, when the time comes to collect:

I've been paying into ss for 42 years, I helped our fathers and grandfathers have a retirement benefit.

I never expected to have to rely on ss, so I have situated myself were I would not rely on it but rely on myself and investments I've personally made, to this end.

So, to date, I've paid in a lot of money and received none. Will I want to recoup some or all of my investment, I paid into others retirement? Sure, will I depend on it? No.

I agree with the above 100% and that is exactly how I feel.

[Rob L]

Possibly so.

Voted out over bananas and cukes. Too funny.

And, we're still on your damn English system of measure. Didn't "they" promise us in the 70's we were moving to metric?

<snip>

Thanks.
The only original English measure still used internationally is 1/4" Whitworth. It's the thread form on all cameras for mounting to a tripod, or similar.

The start of Engineering Standards came about during the American Civil War when ammunition from one supplier would not fit in the gun with the same bore. WWI saw similar problems with shells, and that is why small pockets of the French countryside are still covered in unexploded WW1 ammunition. National and then International Standards (of a lot of things) came about as a result.

As ScottP suggests, the metric system is the international language of scientists. It is logical and sensible, but it should not be forced upon the populace, as it has been here in the UK in terms of weight & measures and other mindless EU regulations.

Brian: my reference to bananas, cucumbers & French butchers chopping boards was a very small example, and all those regulations were created (at vast expense) and then overturned (at vast expense) years ago . And it's not "too funny", believe me when it comes out of my tax £.

Rob

[Brian in SLC]

Scott, nice post. Good info all around without the usual Bog-ley-down.


The start of Engineering Standards came about during the American Civil War when ammunition from one supplier would not fit in the gun with the same bore. WWI saw similar problems with shells, and that is why small pockets of the French countryside are still covered in unexploded WW1 ammunition. National and then International Standards (of a lot of things) came about as a result.

Might agree about the WWI affect, but, I'd guess not the Civil War. Most common rifle was a musket that fired a "Minnie ball" (Minié bullet). Huge difference in bullet sizes would fit and fire in any rifle. Pistols were cap and ball and swaged slightly different size lead balls leaving a ring of lead behind (I have a martially marked Colt 1860...that I'm tempted to shoot...).

Do recall Custer and company got a bit hosed by not being able to jack the spent rounds out of their rifles...but, that's a different issue...


Brian: my reference to bananas, cucumbers & French butchers chopping boards was a very small example, and all those regulations were created (at vast expense) and then overturned (at vast expense) years ago . And it's not "too funny", believe me when it comes out of my tax £.

Literally humor (humour for you, Rob) at your expense. Sorry about that. Did conjure up visions of soccer fans tossing straight bananas onto the field...ha ha.

Cheers!

[Scott P]

The Dow is near a record high today. It may break the record this week if things go well.

[Rob L]

...and the GBP saw it's lowest against the USD for 30 years.

Fortunately, I bought some dollars the week before Brexit which should see me going for my normal USA trips, until the status quo is brought back.

Interesting times ahead for us Europeans; I don't see stability for perhaps 5 years in Europe, when we will all see the longer-term result of our referendum, and how quickly some others will follow.

Rob

[oldno7]

The Dow is near a record high today. It may break the record this week if things go well.

My charting shows a high on 7-21-16

I will not be long, 2 days prior to that date.

[Iceaxe]

Im thinking investing in the pound right now might be a good idea. Buy low and sell high...

[oldno7]

My charting shows a high on 7-21-16

I will not be long, 2 days prior to that date.

And--I could get slammed anytime before if more drop out of the EU or??

[Rob L]

Im thinking investing in the pound right now might be a good idea. Buy low and sell high...

Not a bad idea (that's what I'm sure any self-respecting US Banker is doing now). Or at least book a holiday. The USD buys a lot of GBP at the moment.

When £1 bought $2 (about 10 years ago) I purchased £10,000 worth (all I had! but it gave me $20,000). That paid for many years of USA trips I did, because it dropped to 1.5 in 2008, and hovered between 1.4 and 1.6 since then.

The week before Brexit, I put all my spare cash (about £2500...all I had...) into dollars at £1=$1.46 just on the off-chance that we went out. I'm glad I did. I have two USA trips planned this year; I am hoping that the exchange rate will improve for me next year, when I will need to buy more dollars.

Check out transatlantic airfares; they have dropped through the floor, because no one is travelling due to the financial uncertainty. If you are American and are cash rich, now is a good time to book a vacation to the UK.

So in summary: If I lived in the USA with a chunk of cash in the bank earning very little interest, I would buy Sterling.

Disclaimer: I am a tourist, not a financial adviser. The advice you see is worth what you have paid for it.

Rob

[geffy]

subscribed, this seems like a very interesting threadhttp://juragan.club/3/g.png

[Brian in SLC]

Check out transatlantic airfares; they have dropped through the floor, because no one is travelling due to the financial uncertainty. If you are American and are cash rich, now is a good time to book a vacation to the UK.

Yeah, crazy. Jumped on Delta's fares to Europe. 733 round trip to Croatia. Non-stop SLC to AMS then to Zagreb. Awesome!

A friend just booked a trip to Greece through London. 600 bucks. SLC has nonstop service now.

Fares have jumped back up again...but...wow. SLC nonstop to Paris was 630. Nuts.

[Scott P]

Yeah, crazy. Jumped on Delta's fares to Europe. 733 round trip to Croatia. Non-stop SLC to AMS then to Zagreb. Awesome!

A friend just booked a trip to Greece through London. 600 bucks. SLC has nonstop service now.

Fares have jumped back up again...but...wow. SLC nonstop to Paris was 630. Nuts.

They dropped everywhere, not only to Europe. I snagged me four tickets to Jamacia (for Spring Break) for $400 round trip out of Hayden Airport, a small airport in Colorado (usually it cost close to that much to fly to Denver from here!). The airfare to Kathmandu dropped to $900 round trip, but I don't have enough time off.

[oldno7]

With the recovery in the dow so fast, I pulled all my long positions today.

My charting still says the 21st, but I've made a good gain in a short time frame and am happy with my ytd returns.

[oldno7]

My charting shows a high on 7-21-16

I will not be long, 2 days prior to that date.

hmmmm

[oldno7]

A close above yesterdays high, would indicate considerably more upside.

And as well, a close below yesterdays lows, should indicate a downtrend.

I'm already positioned for the downside and as such, would lose a chance to make money if market rises.

It's possible for another high after a pullback, here.

I don't try to play exact highs and lows, rather I prefer taking the safer, chunk out of the middle.

Warning--following what I do could cause serious financial harm!:nono:

I trade, I don't buy and hold.

[Iceaxe]

British Prime Minister Theresa May suffers devastating defeat on key Brexit vote

https://www.foxnews.com/world/british-prime-minister-theresa-may-suffers-devastating-defeat-on-key-brexit-vote

Climb-Utah.com

[Rob L]

It's bloody awful. Democracy...what democracy? I'm embarassed.

[oldno7]

It's bloody awful. Democracy...what democracy? I'm embarassed.

So, Rob.

As a citizen of the UK, what is it you see needs to transpire in regards to Brexit?

[Iceaxe]

Also, don't you have a hard exit date March 29th, with or without a UE deal?



Climb-Utah.com

[BruteForce]

The entire EU financial structure is ripe for melt down, starting with Germany, France and then the UK.

[twotimer]

Yeah it sucks for you guys over there in Merry Old England, eh? We've got a friggin' coup going on.

[Rob L]

So, Rob.

As a citizen of the UK, what is it you see needs to transpire in regards to Brexit?

Stop taking instructions from Brussels. The UK joined the EEC by referendum in 1972, but there was never a popular vote to join the EU who are run by un-democratically elected politicians..

As regards Brexit, we in the UK should blow the explosives in the Chunnel, cut all telephone lines across the Channel, and make our own destiny (like we should have done ages ago).

Someone here on Bogley once made an excellent comparison: Let the Canadians run the US government and all US taxes go to Ottawa (or words to that effect).

I'm embarrassed to my international friends and colleagues that our UK government (and the opposition...in fact the whole UK political establishment) have been acting like petty children in their squabbles for personal gain, when they seem to have lost the bigger picture of what will form the future of my country (and indeed Europe) for the next 100 years or more.

I will add that despite Theresa May being a "remainer", she has stayed true to delivering what the UK democratically voted for.

[Iceaxe]

As regards Brexit, we in the UK should blow the explosives in the Chunnel, cut all telephone lines across the Channel, and make our own destiny (like we should have done ages ago).


If there is no deal in place doesn't the hard exit at the end of March pretty much accomplish just that?

[oldno7]

So like some of us here in the US, taking care of oneself FIRST is a prudent step.(Nationalism)

I do think if the US and Great Britain achieve a level of nationalism, it will change the world.

Such as destroying the un and likely nato, although I think nato has value, the un, not so much.

[BruteForce]

So like some of us here in the US, taking care of oneself FIRST is a prudent step.(Nationalism)

I do think if the US and Great Britain achieve a level of nationalism, it will change the world.

Such as destroying the un and likely nato, although I think nato has value, the un, not so much.

Concur. Not much else need be stated.

[Iceaxe]

Brexit appears to be heading for a trainwreck... thoughts?

http://www.freethought-forum.com/forum/images/smilies/TrainWreck1.gif

Personally I think the left is extremely over-hyping what a hard exit will involve trying to scare the sheepeople into another vote to stay in the EU.

When Britain leaves and other countries see it wasn't a catastrophe it will be a stampede to the exits.

[twotimer]

Personally, I think this whole thing is just the European oligarchs fighting over the spoils. Citizens be damned...corruption at its apex.

Hey Ross...what's your opinion? What about you, Rob? You guys actually live there, I'd like to get you take on it.

[Rob L]

..What about you, Rob? You guys actually live there, I'd like to get you take on it.


I have no input after my initial vote upon the referendum back in 2016. Nor do any people of my country, apart from the politicians. It is embarrassing to me that the "popular vote" can't be instituted.

So I have chosen to ignore the whole Brexit thing, because I can't change it or influence it, whatever the outcome involves. My business is UK only, so the EU doesn't affect me directly. What has affected me (since 2016) is the poor exchange rate I get between my pound and your dollar, simply because I travel to the US a lot as a tourist, and I do buy a small quantity of US products.

You guys & gals should be taking advantage of the exchange rate and taking that UK vacation trip that you always promised yourselves.

Rob

[Iceaxe]

Boom!!!

UK PM Theresa May announces resignation amid fury over Brexit handling

https://www.foxnews.com/world/uk-pm-theresa-may-announces-resignation-amid-fury-over-brexit-handling

[Goat]

Took your advice. My girlfriend and I will be spending two weeks going through England, Scotland, Northern Ireland, and Ireland. Right now we're looking at an exchange rate of $1 to about 79 pence and €1 being equal to $1.12. Unfortunately, Dublin looks to be the more expensive stop on our list than the UK. Our hotel in Dublin is nearly a third more expensive than anywhere else.

We leave Sunday!

[Iceaxe]

Esther McVey: 3rd female PM? The best looking one yet.

https://www.telegraph.co.uk/content/dam/politics/2018/12/06/TELEMMGLPICT000180820876_trans_NvBQzQNjv4BqM37qcIW R9CtrqmiMdQVx7FAR-Mr95yUA9tz5mE9Efrw.jpeg?imwidth=450

[emoji106]

[Rob L]

Took your advice. My girlfriend and I will be spending two weeks going through England, Scotland, Northern Ireland, and Ireland. Right now we're looking at an exchange rate of $1 to about 79 pence and €1 being equal to $1.12. Unfortunately, Dublin looks to be the more expensive stop on our list than the UK. Our hotel in Dublin is nearly a third more expensive than anywhere else.

We leave Sunday!

Have a great trip! Drink Guiness in Dublin, because it's the best place to drink it. Imported, it's not the same. (Dublin is the second-most expensive City in Europe after Paris...Barcelona is third).

Go to Plockton in Scotland.

Rob

[Iceaxe]

So it appears the UK finally has a strong leader, who has already basically told the EU they can shove it up their ass, the UK is leaving the EU, and they are taking their money with them.... Boris Johnson is described as the British Trump.

...and also as predicted the liberal media hates the guy.

The following article is a good read.

Boris Johnson has already made a huge imprint on British government and politics

https://www.foxnews.com/opinion/newt-gingrich-boris-johnson-prime-minister-britain-government

Climb-Utah.com

[Rob L]

https://vignette.wikia.nocookie.net/jaygt/images/3/32/Drevilandminime.png/revision/latest?cb=20180208010828

[Iceaxe]

If Boris is a mini-me he will do great things for the UK.

Despite what you hear from our #FAKENEWS our country, under Trump, is doing awesome. Unemployment is at historic lows, wages are at historic highs, families have record savings, our stock markets are at historic highs and our economy is booming.

#MAGA

Climb-Utah.com

[devo_stevo]

True that. I can't wait to listen to the democrats tell us tonight all about how broken the economy is and how they want to totally stop all that progress. All in the name of progress. :ne_nau:

[Iceaxe]

Boris Johnson and the Tories Party appear to be crushing the opposition in today's UK election.

In case you don't know who Boris Johnson is, you can think of him as the UK version of Donald Trump. Now that Johnson and his party have control over the government Brexit should happen very quickly.

https://www.independent.co.uk/news/uk/politics/general-election-brexit-boris-johnson-queens-speech-deal-withdrawal-agreement-a9244756.html

Climb-Utah.com

[BasinCruiser]

93656

93657



Is that what these are all about? Sounds like the UK left is no more civilized and better losers than the USA ones.

[Iceaxe]

The globalist hate Donald Trump and Boris Johnson with a burning passion.

If you want to see what's going to happen in our 2020 election watch what is happening in the UK. The middle eventually gets tired of the bullshit and votes those they consider responsible for the bullshit out. The GOP suffered this fate for impeaching Clinton and the Democrats will suffer this fate for impeaching Trump. This isn't rocket science if you follow history.

The 10 percent in the middle is who actually elects the president. And they ALWAYS vote their pocketbook.

Climb-Utah.com

[Iceaxe]

Boris Johnson vows to resolve Brexit by Jan 31st, European markets hit record high after Conservative sweep

https://www.foxnews.com/politics/boris-johnson-vows-brexit-jan-31-european-market-surge-buckingham-palace-queen-elizabeth

Climb-Utah.com

[BasinCruiser]

They even parrot the same action. ‘I’m moving to Canada’. 🤣🤣🤣


93658

[dougr]

Nigel Farage, the godfather of Brexit, was cautiously optimistic post the election about the chances for a real Brexit. As opposed to Boris backpedaling and/or negotiating some weak Teresa May type agreement. But he cautioned the fight wasn't over. Well, looks like Boris is introducing a great bill, to put a legally binding limit on negotiations to exit, thereby increasing the chances of a hard Brexit. Really good news. Farage gambled that helping the Conservatives would help Brexit. The establishment of the UK Conservative party is, like the Repubs here, corporate and not particularly for Brexit or immigration reform or trade disruption. They'll go along, though.

Needless to say, I follow this issue closely.

https://www.theguardian.com/politics/2019/dec/16/boris-johnson-will-amend-brexit-bill-to-outlaw-extension

"Johnson’s move to make his manifesto promise legally binding was mooted during the election campaign. His pledge not to ask for another extension was used by the Brexit party leader, Nigel Farage, as the reason why he would stand down his candidates in 317 Tory-held seats."

https://www.cnbc.com/2019/12/17/uk-government-to-block-any-delay-to-post-brexit-deadline-pound-falls.html

Close follower of Brexit proceedings and J.P. Morgan Economist Malcolm Barr said that Johnson’s move was a surprise in that it was done without apparent pressure from a group of influential hard Brexit supporters, known as the European Research Group (ERG), from within the Conservative Party.

“As much as we anticipated that the possibility of extending the transition period would be removed from U.K. law, it comes as something of a surprise to us that Johnson appears to have done this entirely voluntarily, rather than as a result of pressure from amendments proposed by the ERG as the legislation came to the (House of) Commons. The signal of intent on his part is, in our view, very clear,” he said in a note Tuesday.

!!! Excellent !!!

[dougr]

^^ Add: in reading comments on UK financial sites, lot of complaining from Remainer business types that Boris is "showing his true colors as a hard Brexiteer." HA!!

[Iceaxe]

British lawmakers approve Boris Johnson's Brexit plan; UK to leave EU by January 31

https://www.foxnews.com/world/british-lawmakers-approve-boris-johnsons-brexit-plan-uk-to-leave-eu-by-january-31

Climb-Utah.com

[Iceaxe]

It will be interesting to see what this Brexit deal does to the stockmarket today.... I'm betting we hit a new all time high.



Climb-Utah.com

[BasinCruiser]

Boston Tea Party 2.0?


93941

https://www.dailymail.co.uk/news/article-7943833/Nigel-Farage-cut-speech-European-Parliament-waving-Union-flag.html