No Deal Brexit and Savings

TheShape

dunstonh wrote: »

What makes you think that the UK is comparable to Greece?

The weather?

GustyGardenGalaxy

Thanks for all of the replies, they've given me something to think about.

GustyGardenGalaxy

dividendhero wrote: »

Call me a cynic, but I think the likes of Rees Mogg are trying their best to make sure there's a no deal Brexit. Their chief motivation being that they and their mates in hedge funds will be able to buy "distressed assets" in the UK at fire sale prices - the notion that these folk are acting in the interests of the working class is laughable

This is exactly what Rees-Mogg and the ERG are doing, no doubt about it at all. They don't care about the public, they just want to make money - unfortunately a lot of the Brexiters in the public think that Rees-Mogg is some kind of shining start and they hang on his every word.

typistretired

Shouldn't this thread be in a political forum

masonic

typistretired wrote: »

Shouldn't this thread be in a political forum

Part of it ought to be.

Glen_Clark

Brexit affects savings and investments and its inseparable from politics.
£billionaire 'newspaper' owners etc domiciled in Her Majesty's Tax Havens have a lot to lose from an EU wide tax treaty, so stand to gain from Brexit.
This is an assessment of the cost to the rest of us
(It should have been on the side of the Brexit bus instead of their ridiculous claim of £350 million a week for the NHS.)

But the market has already factored their estimated cost of Brexit into the Sterling Exchange Rate. So I can't see much you can do about it now unless you know better than the market.
Just diversify, and hope for the best

ValiantSon

Alexland wrote: »

Even so your spending will include imported goods which may increase or decrease in price with exchange rate movements.

For example with the Brexit devalued pound buying new cars (either imported or made in the UK from imported parts) seems unreasonably expensive so I now plan to run ours into the ground in the hope exchange rates may be more favourable in 3-5 years time.

Alex

True, but moving savings out of the UK wouldn't help with this.

Alexland

ValiantSon wrote: »

True, but moving savings out of the UK wouldn't help with this.

Totally agree

Terry_Towelling

I get the feeling that it is poor/erratic investor behaviour that precipitates many problems within the markets. Do we really want to panic sell to create a self-fulfilling prophecy? Mind you, it would then make it easier and cheaper to buy into the UK market for those of us with less to invest.

Thrugelmir

Terry_Towelling wrote: »

I get the feeling that it is poor/erratic investor behaviour that precipitates many problems within the markets.

Markets are based entirely on investor perception and views. If there was total certainty. They would serve no purpose.