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Re: Stupid People [TimeIsUp] [ In reply to ]
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I've been very few places with as many geniuses in all facets of knowledge than right here...


Thank you very much.
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Re: Stupid People [Nobbie] [ In reply to ]
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British - Check
Voted Remain - Check
House Value - I put an apartment on the market in March / April, had an offer, campaign started, dropped price 10% pulled it off the market. Apartment would have sold in December for 25-30 sterling more than today. House price - thats less clear, as two influences on apartments were budget changes combined with people's uncertainty on outcome of Brexit vote. House on the other had I suspect loses less simply because there are such a scarcity of large family homes in central london
Cash Savings - 8% increase, save in dollars, am sending it all back to sterling
Share Portfolio - liquidated all of it in Dec last year

I voted in but the out vote has got me an 8% pay rise and 8% bonus on my cash savings

I've certainly lost an "un-realised gain" in property but that ordinarily would make no difference as if I sell my house for 80 instead of 100 and buy another which has also dropped by a corresponding amount there is no real loss

I have a slightly different situation which is I suspect that I have lost money on selling me existing home - 5% would be a good target - but my buying price on the next one is fixed irrespective of the change in market, so proportionately it is more expensive or overvalued, probably by 5-10%. It doesn't matter, I get it back, it just takes 18 months longer than anticipated.

yet again though, the people that are about to get screwed, but this time, really screwed, are those that thought that they were sending a message to those that have done them over. all the MP's with their second home, those that live in large metropolitan area's but in the end people losing 5-10% of their net worth like those will barely feel it where as those areas that have been neglected for decades and taken for granted are about to see what happens when you believe a bunch of tories are going to redirect monies currently directed to the EU. to your own area - #nevergonnahappen

where I think I really have lost is my apartment burnt down Friday night and is a total loss...........oh well
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Re: Stupid People [racin_rusty] [ In reply to ]
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racin_rusty wrote:
Personally, I think a weaker EU is good for the North American economies.

Yeah, depends on whether you consider the EU more of a customer or a competitor.

Generally speaking, though, it looks like neither the EU nor China is going to end up really competing with the U.S. for global economic superiority anytime soon.
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Re: Stupid People [trail] [ In reply to ]
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trail wrote:
racin_rusty wrote:


b bb bbb bbbut that's not the narrative, you must follow the narrative. The EU says so.



This is one of those ones where we have to mark the thread and check back in 10 years.

I'm not sure why, however, that so many in the U.S. are so emotionally invested in "Brexit?"

Even if we come back in 10 years, then barring extremes (e.g. UK going from strength to strength while EU collapses into chaos, or vice versa) it's likely we'll never know for sure if Brexit made things better or worse. Let's assume that following Brexit the EU has some really bad years, with other countries leaving, lots of countries in recession, etc and that as Europe is the UK's biggest trading market then the UK also has some lean times. You could blame Brexit for that, but you could also argue that all Brexit did was highlight the fundamental flaws in the EU model and that if it wasn't Brexit then another crisis would have come along sooner or later and had the same or a worse effect anyway.

I remember when the pound got kicked out of the Exchange Rate Mechanism (which was kind of the precursor to the Euro), and everybody said it was disastrous for Britain, but actually the weak pound and reforms that were put in place saw us bounce back pretty quickly and laid the foundations for an unprecedented period of growth from the mid-90s almost unchecked up until the banking crisis. I also remember when the Euro was launched without us, and a lot of people were saying it was the end of London as a major financial centre, since the centre of gravity would move to a Euro-city like Paris or Frankfurt. London won that one hands down. We'll see how this one plays out.

US is invested partly because there's still some pretty strong affiliations with UK - we all speak the same language (kind of), have a lot of culture in common (movies, music, TV, websites), lots of travel between the 2, and generally on the world stage we tend to be reasonably closely aligned. And partly because the US is going through a similar thing with Trump that we're going through with Brexit. Whether or not Trump gets in, the way that his success to date has completely flummoxed the establishment has a lot of similarities and a lot of the same root causes as the success of the Leave campaign.
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Re: Stupid People [Nobbie] [ In reply to ]
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Prime example of thread topic?

CHECK!


Nobbie wrote:
dirtymangos wrote:
This seems like a joke.

But I am convinced that it is one of the most profound works of economics/ sociology.

Http://harmful.cat-v.org/...s-of-human-stupidity


I am confused by the Brexit vote.
I want to ask:
"Did you want 7% of your net worth to evaporate overnight?"

The only answer I seem to find is:
"Sure- just as long as your net worth also disappears!"

Speaking on behalf of economic elites everywhere.
Your wrong... My net worth is only of half a percent. And it's not like I needed it to pay next months bills anyway.


British - check
Voted Leave - check
House value - unchanged
Cash savings - unchanged
Share portfolio - unchanged from beginning of week.

Like most Brits, this really isn't going to have much effect on me financially, maybe my holiday might cost a bit more, but equally as I tend to holiday in Europe it may well not as the euro could easily go down the toilet.
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