# UK Votes To Leave European Union - World Markets Tank!



## Owsi68

The citizens of the UK officially stamped their approval on the referendum to leave the European Union.  But world markets reflect the belief that this is a bad idea.

As of 12:53am EST in America...
Tokyo down 7%, Dow futures down 696, S&P futures down 106, oil down 3.03, gold up 69, UK Pound is down to 30+ year low, and fear is through the roof.

Markets largely went to bed with positive numbers and expectations.  But right now panic is sweeping the world's trade markets as the UK chooses to stand alone.

People are waking up to a whole new world.  And many of them should be covering their call options like a mofo, although it is likely too late to salvage any funds.

Got a friend who is into investing?  Wake their ass up and tell them to check for damage or opportunities.


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## Blackrook

I'm not an investor, but I think people are panicking, and I think things will stabilize in a few days.


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## frigidweirdo

The problem for Britain is the leaving process will take around 2 years, ie, it's still in the EU for this time, however no one will have any confidence in the UK. Unemployment will probably rise.


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## Blackrook

The restoration of British sovereignty will one day be celebrated like our own Fourth of July.  They will take down all the metric signs and we will once again see distance measured as it should be, in miles, and a pint will once again be a pint, and a pound a pound.  Fuck the Germans and the French and the Belgians, the British should embrace their true friends, the English speaking countries.


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## Owsi68

Blackrook said:


> I'm not an investor, but I think people are panicking, and I think things will stabilize in a few days.


No doubt!  Sudden and drastic moves in the market became the new norm when the internet was born.  The world wide web allowed for rapid international communications and massive amateur investing.

The perfect scenario for confusion and panic to send markets plummeting down and days, weeks or months later, rocketing or crawling right back to where everything was before the world-altering news.


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## Owsi68

frigidweirdo said:


> The problem for Britain is the leaving process will take around 2 years, ie, it's still in the EU for this time, however no one will have any confidence in the UK. Unemployment will probably rise.


The markets will recover quicker than the UK.  There will be huge growing pains that they will feel deeper.than anyone else.  I mean Christ, their currency hit alone could easily lead to a run on the banks in light of all the other worries.


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## frigidweirdo

Owsi68 said:


> frigidweirdo said:
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> The problem for Britain is the leaving process will take around 2 years, ie, it's still in the EU for this time, however no one will have any confidence in the UK. Unemployment will probably rise.
> 
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> The markets will recover quicker than the UK.  There will be huge growing pains that they will feel deeper.than anyone else.  I mean Christ, their currency hit alone could easily lead to a run on the banks in light of all the other worries.
Click to expand...


Yeah, the problem is half the country will be too drunk to care.


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## Owsi68

Blackrook said:


> The restoration of British sovereignty will one day be celebrated like our own Fourth of July.  They will take down all the metric signs and we will once again see distance measured as it should be, in miles, and a pint will once again be a pint, and a pound a pound.  Fuck the Germans and the French and the Belgians, the British should embrace their true friends, the English speaking countries.


America will no longer stand alone with standard measurements like a stubborn leper of the metric world!!


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## Owsi68

frigidweirdo said:


> Owsi68 said:
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> The problem for Britain is the leaving process will take around 2 years, ie, it's still in the EU for this time, however no one will have any confidence in the UK. Unemployment will probably rise.
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> The markets will recover quicker than the UK.  There will be huge growing pains that they will feel deeper.than anyone else.  I mean Christ, their currency hit alone could easily lead to a run on the banks in light of all the other worries.
> 
> Click to expand...
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> 
> Yeah, the problem is half the country will be too drunk to care.
Click to expand...

Alcohol and chocolate sales go up in times of economic hardship.  Even higher during economic booms.

Always bank.on the reliability of human emotions.


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## Owsi68

Here's a possible investment opportunity in this financial bloodbath.

If Great Britain leaves EU, buy this

As I mentioned before, bet on the reliability of human emotions.  Play the fear and profit from the panic.


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## Owsi68

Markets recovered slightly right after the opening bell but losses regained momentum and the numbers are now back to morning lows.

But the VIX, that one investor suggested as a good play for the given situation, is skyrocketing.  Nearly 12 hours after the initial UK announcement the VIX is up over 38%

Banks, tech firms and the oil industry are taking the brunt of the abuse in U.S. markets.


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## Toddsterpatriot

Owsi68 said:


> frigidweirdo said:
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> 
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> The problem for Britain is the leaving process will take around 2 years, ie, it's still in the EU for this time, however no one will have any confidence in the UK. Unemployment will probably rise.
> 
> 
> 
> The markets will recover quicker than the UK.  There will be huge growing pains that they will feel deeper.than anyone else.  I mean Christ, their currency hit alone could easily lead to a run on the banks in light of all the other worries.
Click to expand...


*their* *currency hit alone could easily lead to a run on the banks
*
Why?


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## HenryBHough

Apparently somebody is buying a lot of British Pounds in The U.S.  I thought to take advantage of the bargains earlier today by stocking up for a forthcoming trip and was told by the bank that delivery would take a few days longer than usual due to heavy volume but the price at which I bought would be firm.  Professional currency traders normally do not take physical possession so this action suggests it's more "ordinary" people doing some bargain hunting.


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## Owsi68

P


Toddsterpatriot said:


> Owsi68 said:
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> frigidweirdo said:
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> The problem for Britain is the leaving process will take around 2 years, ie, it's still in the EU for this time, however no one will have any confidence in the UK. Unemployment will probably rise.
> 
> 
> 
> The markets will recover quicker than the UK.  There will be huge growing pains that they will feel deeper.than anyone else.  I mean Christ, their currency hit alone could easily lead to a run on the banks in light of all the other worries.
> 
> Click to expand...
> 
> 
> *their* *currency hit alone could easily lead to a run on the banks
> *
> Why?
Click to expand...

Panic


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## chikenwing

What are the main exported goods/service?


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## Owsi68

chikenwing said:


> What are the main exported goods/service?


Fuck, I don't.know off the top of my head.  I know it was mentioned on a news program I saw earlier. All I remember is medicine and I thought I heard weapons.

But you should understand news is mainly just background noise for me while I do other things.  I lock onto some stories but by and large I actually know and care very little about Britain or the UK.  Nothing personal towards them, I don't even care enough about the city I live in to watch the local news.


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## Toddsterpatriot

Owsi68 said:


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> frigidweirdo said:
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> The problem for Britain is the leaving process will take around 2 years, ie, it's still in the EU for this time, however no one will have any confidence in the UK. Unemployment will probably rise.
> 
> 
> 
> The markets will recover quicker than the UK.  There will be huge growing pains that they will feel deeper.than anyone else.  I mean Christ, their currency hit alone could easily lead to a run on the banks in light of all the other worries.
> 
> Click to expand...
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> 
> *their* *currency hit alone could easily lead to a run on the banks
> *
> Why?
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> Click to expand...
> 
> Panic
Click to expand...


Unless they're afraid their bank is going to run out of Pounds, why would a drop in the foreign exchange value of their currency cause them to panic?


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## Owsi68

Toddsterpatriot said:


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> frigidweirdo said:
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> The problem for Britain is the leaving process will take around 2 years, ie, it's still in the EU for this time, however no one will have any confidence in the UK. Unemployment will probably rise.
> 
> 
> 
> The markets will recover quicker than the UK.  There will be huge growing pains that they will feel deeper.than anyone else.  I mean Christ, their currency hit alone could easily lead to a run on the banks in light of all the other worries.
> 
> Click to expand...
> 
> 
> *their* *currency hit alone could easily lead to a run on the banks
> *
> Why?
> 
> Click to expand...
> 
> Panic
> 
> Click to expand...
> 
> 
> Unless they're afraid their bank is going to run out of Pounds, why would a drop in the foreign exchange value of their currency cause them to panic?
Click to expand...

Because it's happening in conjunction with a massive market drop and in the face of what may be huge future job losses (more a domino effect of Leave decision).

Like when the U.S. market collapsed.  People rushed to invest in precious metals and foreign opportunities.  because their money worked harder outside of the US trade and banking environment.

But this EU stuff looks like worse, or at least a lot more bad, is on the way. UK people are going to be using their pounds to buy gold or invest abroad. Leaving it in a Britsh bank or.British anything right now just wouldn't be wise unless you're very young with lots of employment skills,.a big savings account,.and a ton of optimism,

And as HenryBHough pointed out, there are always investors who buy currency on the dip with hope of cashing in later.  Though I too expected a bigger dip..

Given that the U.S. already debuted what happens when a big world leader experiences financial collapse, I would guess that the Brits would respond a little quicker than we did.and move their money out of British banks for the next few months at least. Maybe more of a figurative than literal run on the banks.

America leads the way!


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## Toddsterpatriot

Owsi68 said:


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> frigidweirdo said:
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> The problem for Britain is the leaving process will take around 2 years, ie, it's still in the EU for this time, however no one will have any confidence in the UK. Unemployment will probably rise.
> 
> 
> 
> The markets will recover quicker than the UK.  There will be huge growing pains that they will feel deeper.than anyone else.  I mean Christ, their currency hit alone could easily lead to a run on the banks in light of all the other worries.
> 
> Click to expand...
> 
> 
> *their* *currency hit alone could easily lead to a run on the banks
> *
> Why?
> 
> Click to expand...
> 
> Panic
> 
> Click to expand...
> 
> 
> Unless they're afraid their bank is going to run out of Pounds, why would a drop in the foreign exchange value of their currency cause them to panic?
> 
> Click to expand...
> 
> Because it's happening in conjunction with a massive market drop and in the face of what may be huge future job losses (more a domino effect of Leave decision).
> 
> Like when the U.S. market collapsed.  People rushed to invest in precious metals and foreign opportunities.  because their money worked harder outside of the US trade and banking environment.
> 
> But this EU stuff looks like worse, or at least a lot more bad, is on the way. UK people are going to be using their pounds to buy gold or invest abroad. Leaving it in a Britsh bank or.British anything right now just wouldn't be wise unless you're very young with lots of employment skills,.a big savings account,.and a ton of optimism,
> 
> And as HenryBHough pointed out, there are always investors who buy currency on the dip with hope of cashing in later.  Though I too expected a bigger dip..
> 
> Given that the U.S. already debuted what happens when a big world leader experiences financial collapse, I would guess that the Brits would respond a little quicker than we did.and move their money out of British banks for the next few months at least.
> 
> America leads the way!
Click to expand...


*their* *currency hit alone could easily lead to a run on the banks
*
Or not.


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## Owsi68

HenryBHough said:


> Apparently somebody is buying a lot of British Pounds in The U.S.  I thought to take advantage of the bargains earlier today by stocking up for a forthcoming trip and was told by the bank that delivery would take a few days longer than usual due to heavy volume but the price at which I bought would be firm.  Professional currency traders normally do not take physical possession so this action suggests it's more "ordinary" people doing some bargain hunting.





HenryBHough said:


> Apparently somebody is buying a lot of British Pounds in The U.S.  I thought to take advantage of the bargains earlier today by stocking up for a forthcoming trip and was told by the bank that delivery would take a few days longer than usual due to heavy volume but the price at which I bought would be firm.  Professional currency traders normally do not take physical possession so this action suggests it's more "ordinary" people doing some bargain hunting.


Interesting cuz "ordinary" people don't normally react.so quickly.  Good for you in picking up some for yourself.  You're going to be able to live a rich life there during your vacation.  I remember going to Mexico when the Peso was getting hammered (long, long ago).  I felt like some disgustingly rich American.


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## frigidweirdo

Owsi68 said:


> HenryBHough said:
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> 
> 
> Apparently somebody is buying a lot of British Pounds in The U.S.  I thought to take advantage of the bargains earlier today by stocking up for a forthcoming trip and was told by the bank that delivery would take a few days longer than usual due to heavy volume but the price at which I bought would be firm.  Professional currency traders normally do not take physical possession so this action suggests it's more "ordinary" people doing some bargain hunting.
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> HenryBHough said:
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> 
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> Apparently somebody is buying a lot of British Pounds in The U.S.  I thought to take advantage of the bargains earlier today by stocking up for a forthcoming trip and was told by the bank that delivery would take a few days longer than usual due to heavy volume but the price at which I bought would be firm.  Professional currency traders normally do not take physical possession so this action suggests it's more "ordinary" people doing some bargain hunting.
> 
> Click to expand...
> 
> Interesting cuz "ordinary" people don't normally react.so quickly.  Good for you in picking up some for yourself.  You're going to be able to live a rich life there during your vacation.  I remember going to Mexico when the Peso was getting hammered (long, long ago).  I felt like some disgustingly rich American.
Click to expand...


It's like going to the far east. 

In western Europe a hostel will cost you $25 a night in a bed sharing with 12 other people. In Bangkok you can get a room for two people for like $15, a hostel, the lowest I've seen, was about $6 for six nights in China.


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## Owsi68

frigidweirdo said:


> Owsi68 said:
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> HenryBHough said:
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> Apparently somebody is buying a lot of British Pounds in The U.S.  I thought to take advantage of the bargains earlier today by stocking up for a forthcoming trip and was told by the bank that delivery would take a few days longer than usual due to heavy volume but the price at which I bought would be firm.  Professional currency traders normally do not take physical possession so this action suggests it's more "ordinary" people doing some bargain hunting.
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> HenryBHough said:
> 
> 
> 
> Apparently somebody is buying a lot of British Pounds in The U.S.  I thought to take advantage of the bargains earlier today by stocking up for a forthcoming trip and was told by the bank that delivery would take a few days longer than usual due to heavy volume but the price at which I bought would be firm.  Professional currency traders normally do not take physical possession so this action suggests it's more "ordinary" people doing some bargain hunting.
> 
> Click to expand...
> 
> Interesting cuz "ordinary" people don't normally react.so quickly.  Good for you in picking up some for yourself.  You're going to be able to live a rich life there during your vacation.  I remember going to Mexico when the Peso was getting hammered (long, long ago).  I felt like some disgustingly rich American.
> 
> Click to expand...
> 
> 
> It's like going to the far east.
> 
> In western Europe a hostel will cost you $25 a night in a bed sharing with 12 other people. In Bangkok you can get a room for two people for like $15, a hostel, the lowest I've seen, was about $6 for six nights in China.
Click to expand...

Yep, isn't it great being a citizen of a strong Western power?

The sad truth is that they're probably still overcharging you.


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## frigidweirdo

Owsi68 said:


> frigidweirdo said:
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> HenryBHough said:
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> Apparently somebody is buying a lot of British Pounds in The U.S.  I thought to take advantage of the bargains earlier today by stocking up for a forthcoming trip and was told by the bank that delivery would take a few days longer than usual due to heavy volume but the price at which I bought would be firm.  Professional currency traders normally do not take physical possession so this action suggests it's more "ordinary" people doing some bargain hunting.
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> HenryBHough said:
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> Apparently somebody is buying a lot of British Pounds in The U.S.  I thought to take advantage of the bargains earlier today by stocking up for a forthcoming trip and was told by the bank that delivery would take a few days longer than usual due to heavy volume but the price at which I bought would be firm.  Professional currency traders normally do not take physical possession so this action suggests it's more "ordinary" people doing some bargain hunting.
> 
> Click to expand...
> 
> Interesting cuz "ordinary" people don't normally react.so quickly.  Good for you in picking up some for yourself.  You're going to be able to live a rich life there during your vacation.  I remember going to Mexico when the Peso was getting hammered (long, long ago).  I felt like some disgustingly rich American.
> 
> Click to expand...
> 
> 
> It's like going to the far east.
> 
> In western Europe a hostel will cost you $25 a night in a bed sharing with 12 other people. In Bangkok you can get a room for two people for like $15, a hostel, the lowest I've seen, was about $6 for six nights in China.
> 
> Click to expand...
> 
> Yep, isn't it great being a citizen of a strong Western power?
> 
> The sad truth is that they're probably still overcharging you.
Click to expand...


It's great having a strong currency, which is why so many people want to move, so they can enjoy this too.


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## HenryBHough

Owsi68 said:


> Interesting cuz "ordinary" people don't normally react.so quickly.  Good for you in picking up some for yourself.  You're going to be able to live a rich life there during your vacation.  I remember going to Mexico when the Peso was getting hammered (long, long ago).  I felt like some disgustingly rich American.



Thank you but it's not a traditional vacation.  I'll be "conducting" a tour group of four mature women.  Opportunity for saving is good but not "great" as the air and rail tickets are long since bought and paid for (excellent buys with Senior RailCards all 'round and advance purchase prices).  Most hotels, though, booked but fortunately not prepaid until the well-timed fall in the pound.  All but one of the ladies took my advice and "bought" their Sterling today, nailing the favourable rate.  That one bought about 1/2 of what she had intended and will buy again on Monday if it's static or down further.  She may get the best deal of all but I'm not convinced recovery will not have started by then.

The lifestyle won't change whilst there as everything is booked/arranged, even admission to special exhibits at museums and (for some) to The Farnborough Air Show (among the ladies are some retired pilots).  About the only thing that might change involves food and drink but for the most part it would be hard to improve upon that already scheduled.

Mind, this is not the product of responding to breaking news - I've been closely watching The UK news since starting the trip plan over six month ago.  I'm sure there will be a flood of Americans suddenly waking up to the bargain-basement sale of UK vacations so the crowds may be a bit nasty.    There is not much worse than first-time travelers; especially those with an undisciplined child in tow.  Sudden affordability does bring them out like houseflies to a fresh turd.


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## Owsi68

HenryBHough said:


> Owsi68 said:
> 
> 
> 
> Interesting cuz "ordinary" people don't normally react.so quickly.  Good for you in picking up some for yourself.  You're going to be able to live a rich life there during your vacation.  I remember going to Mexico when the Peso was getting hammered (long, long ago).  I felt like some disgustingly rich American.
> 
> 
> 
> 
> Thank you but it's not a traditional vacation.  I'll be "conducting" a tour group of four mature women.  Opportunity for saving is good but not "great" as the air and rail tickets are long since bought and paid for (excellent buys with Senior RailCards all 'round and advance purchase prices).  Most hotels, though, booked but fortunately not prepaid until the well-timed fall in the pound.  All but one of the ladies took my advice and "bought" their Sterling today, nailing the favourable rate.  That one bought about 1/2 of what she had intended and will buy again on Monday if it's static or down further.  She may get the best deal of all but I'm not convinced recovery will not have started by then.
> 
> The lifestyle won't change whilst there as everything is booked/arranged, even admission to special exhibits at museums and (for some) to The Farnborough Air Show (among the ladies are some retired pilots).  About the only thing that might change involves food and drink but for the most part it would be hard to improve upon that already scheduled.
> 
> Mind, this is not the product of responding to breaking news - I've been closely watching The UK news since starting the trip plan over six month ago.  I'm sure there will be a flood of Americans suddenly waking up to the bargain-basement sale of UK vacations so the crowds may be a bit nasty.    There is not much worse than first-time travelers; especially those with an undisciplined child in tow.  Sudden affordability does bring them out like houseflies to a fresh turd.
Click to expand...

Well then treat yourself to a nice meal and drink while you're there!

That's very observant with your comment on "sudden affordability."  I hadn't thought of that but you're correct that a ravaged economy and poor monetary valuation shines like a beacon for cheap and or first time tourists.  Lol, poor Brits are in for more pain than they might think possible.  The virgin American tourist has got to be one of the most offensive creatures on earth.


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## Snouter

I bought some stuff last Friday but should have waited until Monday to get the very bottom.  Jim Cramer and the douchebag futures traders on CNBC are proven wrong once again.


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## SYTFE

Wat did u buy snout


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## Snouter

Sorry for the delay. Too much time on the political area.  

Anyhow, I trade PBCT quite a bit.  Similar to many bank stocks...relatively boring action.  The thing is you have to buy a few thousand shares at a time and hope it moves up 10 or 20 cents, sell and reset a limit buy.  If it goes down, just hold and take the dividend.  Generally it trades in a pretty tight range.


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## HenryBHough

In London today and shops are busiest I've seen in years.  Tourists everywhere buying everything in sight.  Business of all sorts booming and most frequent complaint I'm hearing is that you can't get employees who actually want to work.  Welfare state has gone too far and it's going to take PM May a bit too long to fix that.

Saw much the same in North Yorkshire & Scotland but the " no good help" situation seemed worse there.  Good luck being properly served in any restaurant other than small family-run places!


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## Dekster

HenryBHough said:


> In London today and shops are busiest I've seen in years.  Tourists everywhere buying everything in sight.  Business of all sorts booming and most frequent complaint I'm hearing is that you can't get employees who actually want to work.  Welfare state has gone too far and it's going to take PM May a bit too long to fix that.
> 
> Saw much the same in North Yorkshire & Scotland but the " no good help" situation seemed worse there.  Good luck being properly served in any restaurant other than small family-run places!



The latest news does not seem to reflect your anecdotal observations.  UK Business activity had its biggest decline ever last month and a recession is being forecast.


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## anotherlife

What is the effect of brexit on the hot uk housing market?  That is probably the best social economic pointer, much better than those used at stock trades.


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## HenryBHough

Most of the British press was so in the tank to stay in The EU that there will be no mention of any positive change.  There will be some minority reportage by papers biased the other way but you can be sure they'll never be quoted by the American media - mostly wholly-owned subsidiaries of The Democrat National Committee.


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## JakeStarkey

HenryBHough said:


> Most of the British press was so in the tank to stay in The EU that there will be no mention of any positive change.  There will be some minority reportage by papers biased the other way but you can be sure they'll never be quoted by the American media - mostly wholly-owned subsidiaries of The Democrat National Committee.


The American far right alt media follows the same game plan: absolutely nothing positive about those it opposes in the responsible right, center, and left.


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## jessaragen

Property prices in London after Brexit - KPMG predicted that prices would drop by 5% nationally. But the contrary happened. The weak pound attracted foreighn investors and now we enjoy even higher prices.
And it seems like the interest rate drop will do the same - The Bank of England’s base interest rate drop: What to expect in the real estate market


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