- Fri Jul 06, 2018 2:40 pm
Starting with some facts - as in how will this personally affect ME.
Thus far a €24,000 slap in the face due to currency plummet directly after the Brexit - mid deal, little could be done. Still paying for.
MY UK investments down a total average 12%.
I'm not even living or working in the UK & due to my previous association, I know find myself directly financially affected by the current state of events.
So, whilst those flag waiving WW2 babies are happy about their victory, everyone else who is currently working or in business, as in has a future in the real world, rather than is 'finishing up' - are currently financially suffering because of this - small business, big business, employment - you name it. At the moment and to this point, there has not been anything other than a negative outcome finacially & that's before we go down the lines of the racists been given a voice - as the 'no brown faces' and blaming every ethnic minority of the ruin of the UK & NHS is ridiculous. Most immigrants work harder than the 3 generations deep of white trash sitting in their council houses, who literally have done nothing for generations - oooh don't want someone taking our (not hard earned) money.
So the largest section of voters, were, strangely enough, those who don't work, claim from the state and live with the WW2 mentality of 'we won the war'. At no point in time did the Daily Mail or the average pensioner, really have a clue or possible comprehension of how this will pan out. Currently, it has been bad and has cost me - how would you have voted if like me you lost €24,000 overnight and would impact the costs of your business and import/export.
People do what's best for them, unfortunately, those who voted by far in the highest percentage do not represent those who still have to grow and work for a living, don't have a pension and can't afford a house at 50 x their salary, which was 5 x odd 50-60 years ago.
So, to summarise, currently, we are all worse off & the argument is, it will be better in the future?
Guess what, my investments bit by bit are coming out of the UK as have been shaky since this and have decreased, despite being in different sectors - so hardly a surprise that big companies are hedging their bets and the UK will lose some trade for now.
The question is long term, will it come back? Or have we simply lost 10-20 years of growth, thus weakening the UK overall long term, which is I think where we are at.
Noticed very quiet on the financial services sector at the moment, companies making contingency plans. If they don't get their financial passport and the main banks go elsewhere and costs increase, that will slaughter the UK, which has an over-reliance on these in the economy.
Add the reality TV president in the USA, throwing Tariffs everywhere including the EU, driving up costs, which will have a knock on effect with services and employment too - combined with the Brexit, is all presently not the best forecast on the horizon, in fact, recipe for a perfect storm.