Brexit

Fueled by Caffeine wrote: Thats not my timeline for buying a house.

Well, if I can add a little perspective.

We started the year with the Dow around 17,000. Last week, say 10 days ago, the Dow closed at 17,675. In the last few days the market "priced in" the bet that Brexit would be a "remain", and we saw the US market move up to close just above 18,000 headed into voting day. After the surprise "leave" outcome, the Dow is currently off ~400 points, trading around 17,600. So, we effectively gave back what was priced in during the runup of the last week.

So, unless you are heavily invested specifically in foreign currencies, or European stocks, this really shouldn't have have had a major impact on your home purchase capabilities any differently than you were sitting about a week ago.

I'm not trying to say it's fun to lose any money, just trying to frame it up in a reasonable context.

rob_lewis wrote:

Adrian_Thompson wrote: Why doesn't your wife apply for US Citizenship? The UK and US are both fine with duel Citizen ship of each other. This is not the case for all counties though.

I also think there is a part of her that would like to move back one day. TMI, but I was born in Bermuda while my dad was stationed there. As a result, I could claim myself as a Bermuda subject and make moving to England easier since I have both and U.S. birth certificate and a Bermuda one. (Although, oddly, can't claim dual citizenship. At least from what I've researched). While I doubt we'd ever move, I think she doesn't want to let go of that "option". -Rob

She can have duel citizenship though. She wouldn't have to give up the option.

mtn wrote:

rob_lewis wrote:

Adrian_Thompson wrote: Why doesn't your wife apply for US Citizenship? The UK and US are both fine with duel Citizen ship of each other. This is not the case for all counties though.

I also think there is a part of her that would like to move back one day. TMI, but I was born in Bermuda while my dad was stationed there. As a result, I could claim myself as a Bermuda subject and make moving to England easier since I have both and U.S. birth certificate and a Bermuda one. (Although, oddly, can't claim dual citizenship. At least from what I've researched). While I doubt we'd ever move, I think she doesn't want to let go of that "option". -Rob

She can have duel citizenship though. She wouldn't have to give up the option.

Understood. See the lazy statement.....

-Rob

Sign of Trump????

Has anyone blamed Jeff Goldblum for this yet? It's obviously his damn fault.

Fueled by Caffeine wrote: Well.. This just cost me thousands. Thanks.

I fell for you, and hope that the markets overreaction bounces back quickly. (pretty sure it will in a day or two).

That said, we all seem to forget that money in the stock-market is the same as cars on a racetrack: if you are not prepared to lose it all, it should not be there. This E36 M3 does happen all the time. It's called a Stock Market "Crash" for a reason.

This is what I had to say elsewhere on the subject: As time marches on in the 21st century, right-wing populist platitudes seem to be growing deeper and deeper roots in the western world. The Brexit vote strikes me as a symbolic example with some very real repercussions, though we've obviously yet to see how the economic effects will shake out in the long term. Regardless, Brexit is just one piece of the puzzle; with the meteoric rise of Trump here in the US, the stunning near-win for Norbert Hofer in Austria, or growth of the National Front in France, etc, it's clear that the spirit of global cooperation forged by the devastation of WWII is all but gone. I just hope we don't need another global conflict to remind the nations of the world to play nice with each other for the next 100 years.

rob_lewis wrote: I've asked her that a couple of times. She doesn't want to go through the hassle of applying for citizenship for, what she belives, isn't much benifit. She has an SSN, no problems working in the U.S., pays taxes just like I do, etc. The only thing that she thinks the citizenship would give her is the right to vote. And with our political climate, that's not very appealing. -Rob

Have another conversation with her and talk to an estate planner. There are some very real implications with inheritance laws. If you pass first she may end up paying inheritance tax from the first $. Check into it.

T.J. wrote: Since we are making predictions here, I predict that this is the beginning of the end of the EU. The people of Italy of France will also want to throw off their oppressors and force a similar referendum and they too will exit. The central bankers who have cobbled the whole system together by trying to solve a too much debt problem by creating a lot more debt are pretty much out of arrows in their quivers and don't have any comprehension that the average people are angry and fed up and want change. Goodbye EU.

This. Very much so.

With all the recent asylum seeker influx into places like Germany, it's just a matter of time before average German people say "Enough" and the pendulum swings back to the right. While multiculturalism is lauded as how we should all live together in harmony, the reason different countries exist is because humans don't all get along together in the same one to start with.

The average Western European is truly getting sick of rising national debt levels caused (in part) by bailing out countries like Greece, while Spain, Portugal and even Italy are approaching the same situation as Greece. There's another factor that will lead to the collapse of the EU.

I believe this is an echo of Donald Trump's popularity, while not necessarily caused by current events in the US. A lot of folks distrust big government as well as political correctness that leads to legislated "harmony" between opposing fundamental points of view. Once enough grassroots folks are upset with the status quo, some sort of mini-revolution begins to happen, and I think that's what we're seeing.

In reply to pointofdeparture:

(Sarcasm) But how else would we get to try out all those fancy new toys? (/Sarcasm)

In all fairness, the economic boom that we experienced after WW2 was possibly more of a cause for stability than "we remember what happened" Obviously they didn't remember what happened when they went off the deep end twice within 30 years. Hell, did they forget about Napoleon that quickly?

rob_lewis wrote:

Adrian_Thompson wrote: A group of, oh we're not supposed to call ourselves ex-pat on here, err, People born in Britain now living and working in the US, had a discussion this morning. We all agree that if the Eu offers people with a British passport a chance to trade it in for a European passport we will all do that.

This question is for Adrian or anyone else that might be able to answer. I'm curious how it will affect my wife. She's in the U.S. on a green card** and has both a British and EU passport as a result. I'm assuming that once it all goes through, her EU passport will be null and void? What would be the advantage, if they offer it, for her to take an EU passport over the British one? Would it technically be possible since with an EU passport, you don't really have a "home country"? I'm really uneducated on all of this and am honestly just curious. This is just about the only thing I can see that the Brexit would affect in my day to day life. **She's been in the U.S. for almost 40 years. Her green card will never "expire" because her family came in during some big migration period where the green cards issued during that time are good forever. Or, something like that. Again, I'm relatively clueless. -Rob

Your wife should think long and hard, and maybe obtain counsel, before she becomes a US citizen, especially if she has any intentions of retiring out of the country.

US citizens have some pretty draconian and expensive financial reporting to Uncle Sam and it also digs into inheritances. The line-up and cost to get RID of a US citizenship is getting pretty long for a reason. Never thought I would see the day.

oldeskewltoy wrote: Sign of Trump???? He's going to Scotland this week

As my mother use to say: "This too shall pass"

oldeskewltoy wrote: Sign of Trump????

In reply to pointofdeparture: I'm not a Trump fan, but he wasn't "wrong" here. "They" had a vote and voted to leave the EU. Scotland is only a portion of said vote. I see the pronoun confusion, but it's a Tweet. I think it's pretty easy to understand what he actually said.

In reply to tuna55:

Eh, I disagree. The UK is not a country, Scotland is. And Scotland overwhelmingly voted to remain in the EU. So saying that Scotland "took their country back" is incorrect on a number of levels, especially considering that they are (at the moment, at least) being forced into complicity with an exit from the EU that they voted against by a wide margin.

There are already rumblings of a second Scottish referendum on exiting the UK over all this, as Scotland wishes to remain in the EU and their presence in the UK now prevents them from doing so.

In reply to pointofdeparture:

I agree only that the idea of Scotland leaking GB and joining the EU would be a strange turn of events. I did hear Nicola Sturgeon advocating for that, but it seems like it would be harder to vote for, even for the old "remain" folks than the first referendum based on the rest of GB leaving.

Fourth turning.

edwardh80 wrote:

T.J. wrote: Since we are making predictions here, I predict that this is the beginning of the end of the EU. The people of Italy of France will also want to throw off their oppressors and force a similar referendum and they too will exit. The central bankers who have cobbled the whole system together by trying to solve a too much debt problem by creating a lot more debt are pretty much out of arrows in their quivers and don't have any comprehension that the average people are angry and fed up and want change. Goodbye EU.

This. Very much so. With all the recent asylum seeker influx into places like Germany, it's just a matter of time before average German people say "Enough" and the pendulum swings back to the right. While multiculturalism is lauded as how we should all live together in harmony, the reason different countries exist is because humans don't all get along together in the same one to start with. The average Western European is truly getting sick of rising national debt levels caused (in part) by bailing out countries like Greece, while Spain, Portugal and even Italy are approaching the same situation as Greece. There's another factor that will lead to the collapse of the EU. I believe this is an echo of Donald Trump's popularity, while not necessarily caused by current events in the US. A lot of folks distrust big government as well as political correctness that leads to legislated "harmony" between opposing fundamental points of view. Once enough grassroots folks are upset with the status quo, some sort of mini-revolution begins to happen, and I think that's what we're seeing.

Basically, the instability due to certain people around the world is working. What seemed to be stable is turning against that, thanks to outside forces.

Regardless of how minor reality is (as Adrian has hinted).

I need to check on the price of the Type 9 transmission to Spitfire bellhousing adapter at Canley's. It was already below $100.

scardeal wrote: The snarky part of me is wondering whether the EU will decide that, "for the good of the union", they need to forcefully prevent the UK from seceding...

The fact that they can't is, I think, part of the reason the UK left. The EU wasn't based on a real central government like the US, with the power to set monetary policy and other features a national government has. The EU was built mostly on a notion of shared prosperity. Take away the prosperity, and things get ugly.

Some rather extensive statistics on the vote:

http://www.bbc.com/news/uk-politics-36616028

I always find it refreshing when the voice of the people is heard over the incessant din of the power-wielding elite. I also love it when that voice goes against the grain of the propaganda-spewing "mainstream" press and sends them into a tizzy. I am very much enjoying this.

1988RedT2 wrote: I always find it refreshing when the voice of the people is heard over the incessant din of the the power-wielding elite. I also love it when that voice goes against the grain of the propaganda-spewing "mainstream" press and sends them into a tizzy. I am very much enjoying this.

Hear hear!

I think this may be the very best part of the Trump candidacy also.

This is my worthless contribution to the thread: