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REFERENDUM RESULTS AND DISCUSSION THREAD

Penk Wolf said:
It is and yesterday's drops is down to the $#@! at the Bank of England making unsubstantial speculation.

Stick to the truth and facts, and $#@! off with your bull$#@! predictions. Carney not Tony.
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Fact since the referendum was called the £ has dropped by around 10% vs the $. Fact the majority of consumer durables are made in China. Fact these are paid for in $. Fact there is no way of mitigating currency it falls straight into or out of profit. Fact most companies won't accept this as a reason for falling profits be they suppliers or retailers. Fact I have worked in this industry for 15 years. Fact I and my colleagues have spoken with a number of retailers over the last week and all have said that if the £ stays at this level it will have to be taken into retail price, the question is not if but when and by how much.

Call me Rafa!
 
Tony Towner said:
Fact since the referendum was called the £ has dropped by around 10% vs the $. Fact the majority of consumer durables are made in China. Fact these are paid for in $. Fact there is no way of mitigating currency it falls straight into or out of profit. Fact most companies won't accept this as a reason for falling profits be they suppliers or retailers. Fact I have worked in this industry for 15 years. Fact I and my colleagues have spoken with a number of retailers over the last week and all have said that if the £ stays at this level it will have to be taken into retail price, the question is not if but when and by how much.

Call me Rafa!
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I'm fully aware of all that, fuck me it's not fucking rocket science. I've already said that my purchases from China increased by £2k overnight, but the point I'm making is that unsubstantial speculation by people such as Carney is not helpful.

Oh and you can fuck off with your haven't got a clue have you bollocks.
 
Penk Wolf said:
I'm fully aware of all that, $#@! me it's not $#@!ing rocket science. I've already said that my purchases from China increased by £2k overnight, but the point I'm making is that unsubstantial speculation by people such as Carney is not helpful.

Oh and you can $#@! off with your haven't got a clue have you bollocks.
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I edited that after you did the same of your abuse of me.
 
Penk Wolf said:
I'll also add that the £ isn't doing too bad against the Euro, it's the dollar that they are both struggling against, which is understandable considering the lack of stability and speculation that the vote has caused.
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Yeah, because tge pound and euro are both dropping in value, so the relative exchange rate is fairly unchanged.

Sent from my HTC One M9 using Tapatalk
 
The pound's below 1.20 for the first time in a couple of years now (so much for it stabilising at 1.24 as someone on here said earlier). Still got a way to go before it's a post-2008-crash levels, mind. But it's still falling against a currency that is itself under pressure.

There was an economist chap on the radio this morning (I know, everything's an opinion and thus take with a pinch of salt) saying he couldn't see a reason for the £ to strengthen again and these levels or lower will be the new normal. We're now a permanently poorer country so our currency is permanently weaker than it was.
 
So Long Architect said:
The pound's below 1.20 for the first time in a couple of years now (so much for it stabilising at 1.24 as someone on here said earlier). Still got a way to go before it's a post-2008-crash levels, mind. But it's still falling against a currency that is itself under pressure.

There was an economist chap on the radio this morning (I know, everything's an opinion and thus take with a pinch of salt) saying he couldn't see a reason for the £ to strengthen again and these levels or lower will be the new normal. We're now a permanently poorer country so our currency is permanently weaker than it was.
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Still far to early. I predicted on here that on 22nd June 2017 the pound will be worth more against the dollar and the euro than it was on 22nd June 2016. I will stick to that until the evidence really points otherwise. Markets are far to fickle. People spending money is a better indicator and we wont really know that for several weeks at least. Given the huge decision the fall is not a crash though.

On the plus side DW gets paid in euros so he is having a decent week!
 
Cyber-_-man said:
Still far to early. I predicted on here that on 22nd June 2017 the pound will be worth more against the dollar and the euro than it was on 22nd June 2016. I will stick to that until the evidence really points otherwise. Markets are far to fickle. People spending money is a better indicator and we wont really know that for several weeks at least. Given the huge decision the fall is not a crash though.

On the plus side DW gets paid in euros so he is having a decent week!
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The same guy also said he didn't predict a recession and this wasn't a crash. Currency movements are just one indicator, agreed, but they are one that interests me as it has a direct impact on my livelihood.
 
So Long Architect said:
The same guy also said he didn't predict a recession and this wasn't a crash. Currency movements are just one indicator, agreed, but they are one that interests me as it has a direct impact on my livelihood.
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That is fair enough. I still think this is very much the short term fallout and that things will both even put and improve quite soon. But my glass is always half full.
 
As I posted Professor Dougan's (why do I like that name so much?) pre-Referendum analysis, here's his post-ref summing up:

 
I haven't watched that video yet...is it a short clip where he just says 'well, you're fucked'?
 
That was a very good video and sums up very well the crisis ahead, and it is really a crisis. He also highlights something I mentioned a few days ago, the leaves campaign deliberate deception of the British people and the harm that will do to democracy itself.
 
He puts himself across very well, but it is still biased opinion.

He says that everything that the Leave campaign said was deception or lies, and that everything the Remain campaign said was reasonable and true. He says EU law was decided in a democratic European Council and needn't be accepted by British Parliament as that was sovereign, he says that there are no plans or talks about an EU army, and he says that Turkey will not be part of the EU for many years, if ever, as individual member states have a veto.

All very naive in my opinion, but we shall see as time will tell.
 
So Long Architect said:
Yes, with a large dollop of "What did I feckin' say, you bunch of morons? Did I or did I not say you'd be fecked?" (He's Irish so he says feck.)
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So you think that everyone who voted Leave is a moron?

Another naive opinion.
 
Dinowolf said:
So you think that everyone who voted Leave is a moron?

Another naive opinion.
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I was quoting Professor Dougan. *He* thinks you're all morons. I, on the other hand, think you must all be incredibly thoughtful rocket scientists.
 
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