Bloomberg — “Panic” Brexit Withdrawals Freeze $23 Billion Property Funds
As Chris suggested even before the recent U.K. vote to leave the E.U., the worry — besides the political one of encouraging other nation states to start reclaiming their own sovereignty from the global plutocracy — was a systemic one financially. Investors in these U.K. property funds should have grabbed a chair before the music stopped!
READ : “Panic” Brexit Withdrawals Freeze $23 Billion Property Funds
CFS: Any political unit needing 12,653 laws for milk and 454 laws for towels is utterly dysfunctional. When they are staying on the very edge of a cliff the kindest thing you could do for them is to give them a gentle push. Whatever comes after is bound to be better.
I wouldn’t be gentle about it.
Couldn’t agree more!
Bob:
Hard to argue with your numbers on milk laws, etc. and the assumption that anything would be better than what they have now but I have a nagging remembrance of the that kind of thinking in ’03 when we went into Iraq to ‘bring democracy to that part of the world’. Sometimes we would be better off by not getting what we wish for. Just sayin’.
The difference being that common sense made clear that attacking Iraq in 2003 was foolish–based on lies, and likely to utterly roil the balance of power in the region, with gains going to Iran.
Conversely, common sense now says that the EU is a net problem, not a net benefit, for the people of the region and the world.
GH:
You get it. Most times admitting you have a problem is the start of solving that problem. Pretending you don’t have a problem is a road to disaster. The day the Brexit vote was announced, the EU made the third loan to Greece. Loaning money to a serial deadbeat doesn’t make a world of sense.
As for Iran, some of us were saying it was a bad idea 13 years ago and hasn’t improved with age. It was a pointless and illegal war and we need to admit it. We have destroyed the Middle East on behalf of Israel and should Hillary be elected and attack Syria, we are going to have World War III. I think that’s a really bad idea.
I meant European economy, not “German economy” in my second sentence above.
The European Council UK site has a site with a handy overview of EU myths the British press has been feeding their readers on for the past decades
AJ: They should do a similar site with an overview of what is true.
If you find any flaws in this movie, please let us know.
I think you might find this is more of a buying opportunity than a selling one, the moves in effectively funds that don’t and cannot have enough cash reserves always create big swings
The European situation is bad for all Europe.
Not only are all banks so intimately linked that the fall of a major bank will implode much of the banking system, even the stalwart of the German economy, Germany, has problems.
The U.K. is a country that takes a significant amount of its exports. With tariff uncertainty for an extended period, this creates stock market worries. VW, while clearly guilty of cheating, did not cause $25 billion of worth in penalty imposed by the US. Can it survive, both the customer annoyance and the US vindictiveness, without a bail-out?
Can the German government break EU rules to save it?
The EU IS IN SERIOUS TROUBLE, even if no other country leaves.