A Short(Ish) Rant ...

[sunny-dave]

Today's financial 'crisis' has nothing to do with the rights/wrongs of the referendum result. It is entirely generated by the bankers and speculators playing their obscene games in the stock markets and exchanges of the world. As usual they will keep the winnings if they are lucky and we will pick up their debts if they guess wrong.

Essentially the country is being punished for not voting the way that the Metropolitan Elite and their Banking chums wanted - we are naughty children and so must suffer. Osborne is complicit in this - he predicted armageddon, sat on his hands all weekend to ensure it happened, and is about as effective as a chocolate fireguard with his wibbling today

There is absolutely no logic to the financial panic - it's (at least) two years until much will change and there is loads of time to do things in an orderly way - but it's an opportunity not to be missed by the pondlife who inhabit the sewers of the finance world - as usual it's a one-way bet with no downside, as they are "too big to fail" and so must be bailed out if they screw-up.

It's about time we put an end to them playing casino games with our lives and money ... ‪#‎shoot_the_effing_bankers‬

[pixie374]

Exactly right (as a short(ish) answer)

[Islay]

Sorry don't think its an idea to shoot someone - there are some unhinged people about!

[Peter Pedant]

banks down 30%
pound plummets and soon will be on a par with the zim dollar

and no one foresaw this and warned you ....

[Tilly2]

My money's under the mattress now.

[fiction-factory]

There is a lot of logic. The banks have been hardest hit. Already it is clear London is no longer going to be the financial centre of Europe, housebuilders are less interested in building houses/flats as mortgages are going to be harder to come by and foreign investors are pulling out (may be good news in long run), and firms are finding contracts from Europe are being put on hold.
And it's not rich bankers doing it- our pension funds are doing it too as they look after our money. It's my life policies and shares ISA. And why would anyone institution hold sterling when it wants more certainty.
But we can't turn the clock back and will have to have confidence in our politicians to deliver a good long term outcome

[stuey]

Talking about bankers, another result of the Brexit vote is that you will get fewer bank-holidays...Not a lot of people know this.

[Tilly2]

.....I wish.

[sunny-dave]

It was a self-fulfilling prophecy Peter - Osborne made it purely as a scare tactic, but he could have nipped it in the bud on Friday - but was too busy watching his back in the Tory Party scramble for power.

[fiction-factory]

Mark Carney spoke on Friday and I'm sure Osborne was involved

[Jackdaw33]

Kindly explain, Stuey, before you make yourself sound ridiculous.

[237SJ]

Well there is logic to the financial "panic" For example, airlines have to buy their fuel in US dollars and the pound has dropped against the dollar. So fuel costs more and air fares will increase. This will have an impact on the holiday market (unless you are travelling from the US in which case you will be rich)

[sunny-dave]

It's a gambling den, factor - like the worst casino in the world inhabited by people with the morals of adrenaline fuelled sharks.

I repeat, Osborne precipitated the panic - why did he not act to calm the markets? Because it suits the men behind him to crash the pound at our expense.

[fiction-factory]

I'm beginning to wonder whether referendums are a good idea. Both sides seem unhappy. I'm not sure why we don't just look forwards now

[sunny-dave]

Your argument is circular, 237SJ - "we are in the crap because the pound is falling, but the pound is falling because we are in the crap" - but we really aren't (or at least wouldn't be in a properly run financial system).

[stuey]

Well, JD, I don't have to explain why it's ridiculous coz I just made it up...Seems to be a lot of that going before and after the event:)

[fiction-factory]

He spoke today and the market plummeted. The FTSE250 plunged around 7% afterwards.

[stuey]

"going on".

[tonyav]

Strange thing to do imo !

http://www.msn.com/en-gb/money/news/cameron-signed-new-mortgage-agreement-eight-days-before-eu-vote-what-did-he-know/ar-AAhFpz3?li=BBoPMmp

[Tilly2]

I thought we were still in the EU. I don't understand why things have gone to pot when we are still where we were. Maybe I'm being thick here. It is possible.

[Old_Geezer]

Crisis ? What crisis ?

The investors in the markets are overcompensating as expected. The markets will bounce back, first too far then too far the other way, then too far back the other way again and so on and so forth. This is expected and normal for stressed human gamblers of the stock market.

Eventually it'll settle and gradually climb back to where it would be had they kept a level head.