Brexit and Money

BucksLady

Gnocchi wrote: »

I see people on other boards saying it'll be fine, but I do worry.

Only worry about things you can change - it's a waste of time otherwise

Rollinghome

AnotherJoe wrote: »

p.s. if our economy is so bad as you think, they would LOWER interest rates next, not RAISE them. Jeez.

The bank rate was lowered immediately following the vote, as I remember: halved to 0.25%. There isn't much room for it to go lower unless you mean moving to negative interest rates.

However, the OP said their concern was the upward rise in the inflation rate due to the tumbling £ and, depending on what happens from here, raising rates is something that may need to be considered if the patient isn't too weak for the cure. Rocks and hard places eh?.

AnotherJoe wrote: »

p.p.s I do have a contingency plan, it's focusing my investments in the global markets....

Hope you mean past tense and bought those "global market" investments before the vote as your shrivelled pound won't buy them so cheaply now.

AnotherJoe wrote: »

...and if they dont, and the UK doesn't sink under the waves after Brexit, well I'll be living in a country with a growing economy so all will be fine anyway.

Hope Boris gave you that in writing. Respect please, he's our Foreign Secretary now.

AnotherJoe

Rollinghome wrote: »

However, the OP said their concern was the upward rise in the inflation rate due to the tumbling £ and, depending on what happens from here, raising rates is something that may need to be considered if the patient isn't too weak for the cure. Rocks and hard places eh?.
Nope. A low rate = low pound = counter import tariffs from the revengeful Eurocrats. Plus it's clear as can be you can't artificially raise the currency with interest rates as discovered by the Tories in the 80's
They also said they were ere worried about things like interest rates and fuel going up. Fuel is of course priced in dollars, yet they bought Euros which are also falling in relation to the dollar. They've thrown their money from the frying pan to the fire.

Hope you mean past tense and bought those "global market" investments before the vote as your shrivelled pound won't buy them so cheaply now.
)

Some before ( well before in many cases) , some after, plus builders and a few other oversold companies in the immediate (first week) of the overreaction. All up a lot. The only shares I've bought that's down are a couple of Pharmas I bought for income so I'm ok with that and they are nudging upwards. They are a ten year hold.

I think the pound still has a little way to go before it reaches bottom plus plenty of panic laden Brexit related headlines over the next few years to create more drops which translates to rises in my investments, which will more than counter inflation.

I am expecting a mini crash at some point this year, no doubt after an idiotic trump tweet, my investments have gone up so much in the last six months it's surely got to take a breather at some point. And there must be some good Brexit news from time to time which will drop my non Sterling denominated investments. But they are all 10-20 year hold.

mollycat

AnotherJoe wrote: »

Obviously your next step is to run around screaming "the sky is falling"

Please do leave. Obviously this country is so pathetic it cannot live without being attached to Europe. Go where the European economy means any country under its umbrella is fine . Try Ital ... No? OK Gre .. well OK try Portug...oh OK errm Irel. .... no ...

Interesting to see your astute financial planning has you stash your cash in euros, where putting it in and then taking it out again to spend it here will lose you 10% guaranteed. And the pound is stronger against the Euro now than it was in 2008 or so, were you panicking them? Better put your money in US dollars, why did you bet it on the Euro whose value is drifting away every day, down 5% last couple of months.

Pathetic.

p.s. if our economy is so bad as you think, they would LOWER interest rates next, not RAISE them. Jeez. Though if you've seen the latest figures the UK is I believe doing better than that Eurozone place of which you speak so glowingly.

p.p.s I do have a contingency plan, it's focusing my investments in the global markets so that when people like you run around screaming their hair is fire and selling all their shares and selling the pound, my investments will rise should the Pound fall, and if they dont, and the UK doesn't sink under the waves after Brexit, well I'll be living in a country with a growing economy so all will be fine anyway.

p.p.p.s Dang i reckon I've fallen for trollbait

Well said, great response. ....Even if you have been trolled like a guppy!

[Deleted User]

dunstonh wrote: »

Perhaps a bit more respect for the Prime Minister of this country is in order.

Well Said! :T:T:T:T

Xbigman

When Margaret Thatcher died they played Ding Dong the witch is dead. That is the sort of respect you can expect from some people.

Liberal democracies.
Only liberal if you agree with them. Other wise you are racist, stupid, lied too, etc.
Only democracies when the vote (or referendum) goes their way.

Mini vent there.


Darren

le_loup

You are aware that Mrs T was not Jesus?

Glen_Clark

I'm a bit suspicious about all this talk of 'Growth' because I don't know how much of it is just house price inflation. But I think whats spooking the markets this month is drawing red lines on 'sovereignty' and immigration. To maintain those things we are likely to have to sacrifice free trade. Being dictated to by Westminster/House of Lords/ Buckingham Palace instead of Brussels is of doubtful advantage. But perhaps the biggest irony is the immigration problem will solve itself when the currency is trashed because immigrants will no longer want to come here. And immigration is generally good for business as it brings in new skills.
No wonder the markets don't like what they hear.

eskbanker

le_loup wrote: »

You are aware that Mrs T was not Jesus?

We are, she wasn't....

Glen_Clark

Xbigman wrote: »

When Margaret Thatcher died they played Ding Dong the witch is dead.
Darren

I didn't like that either. But to put it in context you have to remember a couple of things
1) It was a tiny minority who got newspaper coverage far beyond their numbers because they are the most newsworthy. Even Arthur Scargill didn't go along with it - all he would say is 'Scargill Alive', and never any more comment at all.
2) You have to see the damage done to pit village communities to appreciate why Thatcher is so hated.