Friday, June 24, 2016

Brexit

I think I am beginning to understand what is happening with Brexit, but I am not totally sure about it. I've tried to wrap my head around what it all means and will mean in the future. 

I went to bed last night with the world being one way and woke up with everything changed. The news makes no sense to me, everybody is pushing their own views on it. It seems to be who talks the fastest and gets their words in first. So, okay, if you would please tell me in your own words (no filibustering, please, and no links) what the heck is going on and how this all is going to affect you. I don't care where you live, this appears to be a global thing.

First thing I noticed, was that the stock market is down, way down. Could this have a permanent effect on DH's retirement? Gold and silver went up, but our money is not in metals. The dollar is on it's way up and the pound is down. (the lowest I can recall)

Brexit seems to be affecting more than the UK. Am I wrong?

I detest politics, mostly because I cannot understand the ramifications of each political move.

21 comments:

  1. Oh hell, everyone over reacts, just relax and flow along and flow over the bullshit. BTW, never invest money in stocks that you can't afford to lose.

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    1. This all seems to be pretty big BS. Where do you have your retirement money tucked away?

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    2. I don't have any tucked away, I get by just fine on my SS.

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    3. But I always have been very thrifty.

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  2. the stock markets will swing heavily. they're saying to just ride it out. texas 'nationalists' are now pushing their 'texit' succession plan yet again.

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    1. Son said we should buy stocks now that they are lower ... now would be a good time to have money, I guess.

      How would you feel about a Texit?

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  3. I'm also not good at political stuff, but I've been trying to read what I can and what I understand why this is a big deal: 1)financial markets don't like change and Brexit will have a negative effect on the stock market for a while; 2) Great Britain might undergo further disruptions if Scotland and Northern Ireland (which voted in mostly favor of staying in the EU) have successful referendums to break away from England; and 3) other European countries might also leave the EU, weakening Europes ability to fend off an aggressor such as Russia's Putin. These are the things I have read, I am not saying I think Brexit is a bad thing; in fact I favor it, but it is definitely disruptive and there will be a lot of adjusting going on. The world is a scary place with or without Brexit, unfortunately.

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  4. I'm so totally confused I gave up even trying and wiped it off my mental blackboard. I can't understand all that stuff.

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    1. DH is worried the stock market will crash, I don't know if this is a possibility or not, but all his retirement from work is tied up in that. Scary.

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  5. I have no idea how this will affect us down here in Australia. I had heard on the news that the stock market was down. I'm guessing it will recover, but how long will it take and how will we all fare in the meantime? I don't have any stocks or any other type of investments, but the value of the USA dollar does seem to affect the rest of the world. I don't understand how it all works anyway.

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    1. I have yet to see what the real argument was for or against this happening. Like A, B, C ...

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  6. These days all our banks have global investment so yes were are all affected by what happens when a major solid country makes a move away from a union like the EU which was created after the war to try to unite nations for them.

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    1. I guess all we can do is wait and watch. (and spend our money wisely)

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  7. My husband might have our disagreements. But both us seem to have common sense, and will weather what comes forth from what every.
    Coffee is on

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    1. I guess none of us has any choice ...

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  8. Thanks for stopping by. The reasons for Brexit make me mad, so I will leave that one alone. As far as stocks go they will be volatile for maybe years until they straighten things out, but usually stocks that go down will come back up eventually. No one really knows how this will work out.

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    1. I keep wondering how I would feel about this, if I lived in the UK - and I knew everything.

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  9. The stocks will likely come back up in time. Gary thinks it will be a good thing. I am so disappointed with politics ... I am trying to keep my head in a cloud these days... read a good book that takes me somewhere else. Boo Politics!! ha!

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  10. I have been following this closely and I do "get" it. I understand why some of the Brits voted for it but as a person living outside of the UK, this isn't the best scenario for the global markets. They will in time recover, I suspect but right now, some brokerages think it will take about 2 years for things to settle down. The part that I have a problem with is that so many people voted but weren't informed and knowledgeable about what and why they were voting the way they did. All those that are signing petitions for a re-vote will have to live with the results. Sadly, at this point no one knows how this will shake out in the UK because now they have lost their UK trading agreements. All those have to be renegotiated.

    I, for one, get really annoyed when global markets do something drastic that reduces all of our retirement funds. Nothing to be done but wait it out.

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Thanks for stopping by, I am always happy to hear what you have to say. Have a pleasant day!