Independence day

[oldr_n_wsr]

When the fuck did "educated" become synonymous with "elite?" That's utter bullshit.

Where did I say "educated" was synonymous with "elite"?
I was talking about the percieved "snobbery" and "elitish" tone of the article and some posts. The elite may be college educated but they may not be. I do not equate a college degree with knowledge and wisdom. I think by now that posters here know I am a do-it-yourself kind of person. To the point where there is not anything in my house that I do not do myself. Everything from a new roof to broken pipes to fixing a washer. I even ripped a big ass hole in a load bearing wall in my duaghters house and was told by an architect that I did way more than code to keep the wall doing it's job (aka holding up the house).
I am skilled in getting electrons to do what I want them to (and I was doing that for over 10 years before I got my degre) and equally skilled in creating a wine rack out of half a wine barrel (which I happened to see something similar on the net going for over $500).

And Oldr, you have a college degree, and sent both your kids to college, so be careful what you rant about.

Yes I do and yes I did. And I am not putting all college educated people in the "elite" or "snobby" category. My son, despite is college education is now a finishing carpenter and make custom cabinets and such and is very good at it. Wish he had found his calling before college, but what can one do? My daughter is also doing quite well and even bought her own house last november.
Niether has an "elite/snobby" attitude. I taught them to respect others, to be civil and nice and not talk downto others. As far as I see, they follow that teaching.
College has nothing to do with it,

But the article seemed to point that those who voted to exit were "uneducated" setting the elitist/snobbish tone of the rest of what was written.
I asked "what do they mean by "un-educated" and speculated on what that meant to the author as he did not explain himself. That leaves it open to interpretation.
Sorry if I offended you Guin, it was not my intent.

[MajGenl.Meade]

I always told my son that it's possible to be intelligent or smart, but rarely both. Intelligent is owning all the most advanced tools in the hardware store and knowing everything about how they should be used and what for. Smart is being able to use them (and fix them) and make money doing it.

In the UK class system (abolished years ago of course), the kinds of people who write articles (intelligent, uni-grads) are sometimes forced to come into the proximity of the working class (left school at 16 or earlier). To do so requires sneering. Its well understood that what both liberal and conservative elites in the UK have in common is a contempt for the working class until it's election time - and then those "uneducated" votes are precious.

[Lord Jim]

Oh gee, look! The sky has stopped falling!

Global stock markets rally as Brexit fears abate

The FTSE 100 has surged through the level it closed at last Thursday, recovering all of the ground it had lost in the wake of the Brexit vote.

The pound also strengthened against the dollar and euro, while Wall Street's rally continued for a second day.

Some investors say last week's sell-off was overdone, while others are betting on central banks to rescue the global economy if needed with more stimulus.

"It never was the end of the world," said strategist Jeff Weniger.

The senior portfolio strategist at BMO Private Bank in Chicago. said: "To have these kinds of reactions was ridiculous."

http://www.bbc.com/news/business-36660133

It took all of three business days for the market to completely recover from The Great Brexit Crash...

[Long Run]

Yeah, that was predictable. Another quick profit opportunity lost.

[Gob]

There were some real bargains to be had, especially in bank stocks.

[rubato]

The markets came back up as soon as everyone realized that the UK is a fraction of the total and not a large enough fraction to drive results in multinationals (who can often profit from disruption).

The Pound is remains down because the effects of Brexit are, well, not a surprise to people in business and finance like they are to Leave voters.

Meanwhile the Irish republic is poised to benefit as the only English-speaking capital still in the EU.


http://www.sfgate.com/business/article/ ... 332784.php

Brexit just made Ireland look even more attractive for tech

By Aoife White, Dara Doyle and Jeremy Kahn Published 2:46 pm, Wednesday, June 29, 2016

Dublin’s commissioner for startups, Niamh Bushnell, reacted to Britain’s decision to exit the European Union by issuing a press release with “Thanks to Brexit” as a headline. Her point was that after last week’s vote, question marks hang over almost all the key ingredients that make London so attractive for technology companies.

As the sole remaining English-speaking capital in the European Union — and already Google’s and Facebook’s home-away-from-home in Europe — the Irish capital will have a chance to be a winner in London’s messy divorce from Brussels.

Should it get ready for an influx of entrepreneurs? Twitter, Airbnb, Slack and other notable tech companies have their European headquarters in Dublin, close to the city’s Silicon Docks, which lies near a neighborhood dubbed “Googletown” because of Google’s vast campus there.

Apple employs about 5,500 people in Ireland, Google about 6,000, Microsoft about 2,000 and Dell about 2,500. Tech firms collectively employ more than 80,000 people in Ireland, according to IDA Ireland, which has responsibility for attracting overseas investment.

What’s the attraction to Dublin? It has a number of soon-to-be-unique attractions within the EU. A young, native English-speaking, tech-savvy population of 4.6 million people, an openness to overseas talent and a government largely in thrall to tech companies. But perhaps most notably, Ireland offers the lowest corporate tax in Western Europe: 12.5 percent.

It also offers an attractive place for licensing intellectual property rights, with patent and copyright income subject to just 6.25 percent tax in many circumstances, and 25 percent tax credits available for research and development spending. That’s why many U.S. tech companies use Ireland as the base for licensing their technology to all their European subsidiaries. ..."

Erin go bragh! As England turns it back on the world an opportunity arises for those who have "an openness to overseas talent".

yrs,
rubato

[Lord Jim]

The markets came back up as soon as everyone realized that the UK is a fraction of the total

Yeah, that certainly explains why the UK market came back...

Rube, you ought to go discuss this with Lindsay Lohan; your understanding of economics are fairly comparable...

(Okay, she may have a slight advantage...)

[rubato]

"...

Don't worry O-n-W, it's just Aspergers boy showing off his snobbery and ignorance. He's a fine example of a champaign democrat

Google "Brexit demographics" and you will find that the UK press overwhelmingly supports that conclusion. All of them showed that less educated, poorer, and more xenophobic voters supported "Brexit". More educated, higher income, and people with the most contact with foreigners voted to stay. You did a dumb thing and backed an self-destructive cause. I doubt if you will ever have the honesty to admit it.

Meanwhile:


Brexit, Trump and ISIS all are symptoms of the same disease.

http://www.sfgate.com/news/article/Into ... 328877.php

Intolerance on the march: do Brexit and Trump point to global rejection of liberal ideals?

Charles Hankla, Georgia State University Published 2:53 am, Tuesday, June 28, 2016

Charles Hankla, Georgia State University

Back in 1991, the eminent political scientist Samuel Huntington pointed out that democratic transitions around the world often come in waves.

He pointed to a “third wave” of democratization that began in the 1970s with Spain and Portugal and continued into the 1980s, particularly in Eastern Europe and Latin America. After he wrote his book, this liberal wave seemed only to pick up speed, with transitions in the 1990s in parts of Africa and Asia.

Sadly, today we seem to be experiencing an “illiberal wave.” This wave, which has left no part of the world untouched, is not necessarily about a return to authoritarian government. Nor is it about liberalism as commonly understood in American politics.

It is broader than both of these. It is about a rejection of the liberal idea – political, social and economic – that has been an important part of political discourse at least since the end of the cold war.

This liberal idea embraces free markets, internationalism and tolerance for difference, and it is suspicious of nationalism in both its economic and political forms. While the liberal idea has never been dominant, it has been highly influential, especially among internationalized and educated elites in the West and around the world. ... "

The 20th century saw continual improvement in civil rights, economic advancement, access to HC and education in the G-20 as liberal ideas took over the world. Are we entering a wave of ignorant nationalistic reaction?

yrs,
rubato

[rubato]

The markets came back up as soon as everyone realized that the UK is a fraction of the total

Yeah, that certainly explains why the UK market came back...

Rube, you ought to go discuss this with Lindsay Lohan; your understanding of economics are fairly comparable...

(Okay, she may have a slight advantage...)

The FTSE trades international stocks just like the Dow, nasdac, and S&P. You didn't know that?

No surprise there.


yrs,
rubato

[Lord Jim]

As England turns it back on the world

And yet another display of world-class ignorance...

The United Kingdom of Great Britain and Northern Ireland is a member of:[1]

African Development Bank (AfDB) (nonregional member)
African Union/United Nations Hybrid Operation in Darfur (UNAMID)
Arctic Council (observer)
Asian Development Bank (ADB) (nonregional member)
Australia Group
Bank for International Settlements (BIS)
British-Irish Council (BIC)
Caribbean Development Bank (CDB) (nonregional member)
Commonwealth of Nations
Council of Europe (CE)
Council of the Baltic Sea States (CBSS)
Euro-Atlantic Partnership Council (EAPC)
European Bank for Reconstruction and Development (EBRD)
European Investment Bank (EIB)
European Organization for the Exploitation of Meteorological Satellites (EUMETSAT)
European Organization for Nuclear Research (CERN)
European Space Agency (ESA)
Food and Agriculture Organization (FAO)
General Conference on Weights and Measures (CGPM)
Group of Five (G5)
Group of Eight (G8)
Group of Ten (G10)
Group of Twenty Finance Ministers and Central Bank Governors (G20)
Inter-American Development Bank (IADB)
International Atomic Energy Agency (IAEA)
International Bank for Reconstruction and Development (IBRD)
International Chamber of Commerce (ICC)
International Civil Aviation Organization (ICAO)
International Confederation of Free Trade Unions (ICFTU)
International Criminal Court (ICCt)
International Criminal Police Organization – INTERPOL
International Development Association (IDA)
International Energy Agency (IEA)
International Federation of Red Cross and Red Crescent Societies (IFRCS)
International Finance Corporation (IFC)
International Fund for Agricultural Development (IFAD)
International Hydrographic Organization (IHO)
International Labour Organization (ILO)
International Maritime Organization (IMO)
International Mobile Satellite Organization (IMSO)
International Monetary Fund (IMF)
International Olympic Committee (IOC)
International Organization for Migration (IOM)
International Organization for Standardization (ISO)
International Red Cross and Red Crescent Movement (ICRM)
International Telecommunication Union (ITU)
International Telecommunications Satellite Organization (ITSO)
International Trade Union Confederation (ITUC)
International Whaling Commission (IWO)
Inter-Parliamentary Union (IPU)
Multilateral Investment Guarantee Agency (MIGA)
Non-Aligned Movement (NAM) (guest)
North Atlantic Treaty Organization (NATO)
Nuclear Energy Agency (NEA)
Nuclear Suppliers Group (NSG)
Organisation for Economic Co-operation and Development (OECD)
Organisation for the Prohibition of Chemical Weapons (OPCW)
Organization for Security and Co-operation in Europe (OSCE)
Organization of American States (OAS) (observer)
Pacific Islands Forum (PIF) (partner)
Paris Club
Permanent Court of Arbitration (PCA)
Secretariat of the Pacific Community (SPC)
Southeast European Cooperative Initiative (SECI) (observer)
United Nations (UN)
United Nations Conference on Trade and Development (UNCTAD)
United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP)
United Nations Economic Commission for Africa (UNECA) (associate)
United Nations Economic Commission for Europe (UNECE)
United Nations Economic Commission for Latin America and the Caribbean (UNECLAC)
United Nations Educational, Scientific and Cultural Organization (UNESCO)
United Nations High Commissioner for Refugees (UNHCR)
United Nations Industrial Development Organization (UNIDO)
United Nations Interim Administration Mission in Kosovo (UNMIK)
United Nations Iraq-Kuwait Observation Mission (UNIKOM)
United Nations Mission in Bosnia and Herzegovina (UNMIBH)
United Nations Mission in Liberia (UNMIL)
United Nations Mission in Sierra Leone (UNAMSIL)
United Nations Mission in the Democratic Republic of Congo (MONUC)
United Nations Mission in the Sudan (UNMIS)
United Nations Observer Mission in Georgia (UNOMIG)
United Nations Peacekeeping Force in Cyprus (UNFICYP)
United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA)
United Nations Security Council (UNSC) (permanent member)
United Nations Transitional Administration in East Timor (UNTAET)
United Nations University (UNU)
Universal Postal Union (UPU)
Western European Union (WEU)
World Confederation of Labour (WCL)
World Customs Organization (WCO)
World Federation of Trade Unions (WFTU)
World Health Organization (WHO)
World Intellectual Property Organization (WIPO)
World Meteorological Organization (WMO)
World Organization of the Scout Movement
World Tourism Organization (UNWTO)
World Trade Organization (WTO)
World Veterans Federation
Zangger Committee (ZC)

https://en.wikipedia.org/wiki/Outline_o ... ed_Kingdom

[Lord Jim]

The FTSE trades international stocks just like the Dow, nasdac, and S&P. You didn't know that?

No surprise there.


yrs,
rubato

Oh dear, oh dear, even more ignorance:

The FTSE 100 consists of the largest 100 qualifying UK companies by full market value.[8] A large slice of these are international companies, however, so the index's movements are a fairly weak indicator of how the UK economy is faring.[9] A better indication of the UK economy is the FTSE 250 as it contains a smaller proportion of international companies.[10] The constituents of the FTSE are determined quarterly, on the Wednesday after the first Friday of the month in March, June, September and December. The values used to make the changes to the indices are taken at the close of business the night before the review.[11]

FTSE 100 companies represent about 81% of the entire market capitalisation of the London Stock Exchange. Even though the FTSE All-Share Index is more comprehensive, the FTSE 100 is by far the most widely used UK stock market indicator. Other related indices are the FTSE 250 Index (which includes the next largest 250 companies after the FTSE 100), the FTSE 350 Index (which is the aggregation of the FTSE 100 and 250), FTSE SmallCap Index and FTSE Fledgling Index. The FTSE All-Share aggregates the FTSE 100, FTSE 250 and FTSE SmallCap.

Component companies must meet a number of requirements set out by the FTSE Group, including having a full listing on the London Stock Exchange with a Sterling or Euro denominated price on the Stock Exchange Electronic Trading Service, and meeting certain tests on nationality, free float, and liquidity.

https://en.wikipedia.org/wiki/FTSE_100_Index

You know rube, you really could avoid looking like such a complete dumb fuck if you just took a few seconds to check your facts...

But then, a rubato who actually checked himself for accuracy before posting wouldn't be anywhere nearly as entertaining...

The fact that you are so confident that you are correct about so many thing that you are absolutely wrong about that you never bother to check to see if you actually have the facts right, is part of what makes you so darned hilarious....

[Big RR]

Not to mention that the FTSE, Dow, and S&P are indices, not exchanges (the FTSE is an index of the London Exchange stocks, the Dow and S&P of NYSE shares) and do not trade shares at all (NASDAQ is an exchange and does). However, US exchanges (and most, if not all foreign exchanges, like the London Exchange) only handle domestic shares. You may be able to purchase ADRs corresponding to a small number of shares of a foreign company (usually held by a bank) on a US exchange, but for the most part purchase of foreign stocks involves a broker acquiring OTC shares or having a presence on a foreign exchange (usually through an agent); one could also establish a relationship with a foreign broker who is a national and a member of the exchange of interest.

[rubato]

What a dim fuck.

You didn't read your own link:

"... A large slice of these are international companies, however, so the index's movements are a fairly weak indicator of how the UK economy is faring. ... " [9]

For three examples GSK, Glaxo Smith Kline, BP, and Rolls Royce (the aerospace and defense company) are large multinational companies and most of their business is outside the UK.


No surprise you side with ignorance.


yrs,
rubato

[Big RR]

are large multinational companies and most of their business is outside the UK.

But if they are traded on the London exchange, you can be pretty sure they are incorporated in the UK. Most companies (especially those of the size to be listed in the FTSE index) trade and do business internationally, but that does not make them foreign companies (anymore than Exxon or GE is on the NYSE).

[rubato]

Not to mention that the FTSE, Dow, and S&P are indices, not exchanges... "

The indices are how we measure the performance of markets overall. They are indices based upon particular exchanges. But that is what an "index" is.

Search Results
in·dex
ˈinˌdeks/
noun
an indicator, sign, or measure of something.
"exam results may serve as an index of the teacher's effectiveness"
synonyms: guide, sign, indication, indicator, gauge, measure, signal, mark, evidence, symptom, token; More

yrs,
rubato

[rubato]

are large multinational companies and most of their business is outside the UK.

and not another country.

but if they are traded on the London exchange, you can be pretty sure they are incorporated in the UK

Which appears not to matter in valuing international companies.


yrs,
rubato

[Big RR]

No, I'm certain it has some value, because multinational corporations will spend a lot of time and money in deciding where to incorporate or to form subsidiaries (lloking at factors such as location, securities laws, taxes, etc.), but it is not the only factor is assessing the value. However, it is the deciding factor as to what exchange(s) it can be registered or traded on, which is what I though Jim was commenting on.

[BoSoxGal]

It's been a while but I felt the need to clarify that my use of 'ignorant' was intended like the definition to refer to lack of knowledge, not lack of education as in university educated v not university educated.

I've been following the Brexit aftermath closely in the UK press and it certainly seems that many people voted to leave without a decent comprehension of the functioning of the E.U. That's ignorance, whether a person has a doctoral degree or not even the equivalent of a high school diploma.

[Lord Jim]

No, I'm certain it has some value, because multinational corporations will spend a lot of time and money in deciding where to incorporate or to form subsidiaries (lloking at factors such as location, securities laws, taxes, etc.), but it is not the only factor is assessing the value. However, it is the deciding factor as to what exchange(s) it can be registered or traded on, which is what I though Jim was commenting on.

Yes, and dumbo is undermining his own original argument...

Under his original theory, British companies that do business internationally, (especially those that do substantial business with EU countries, which is true of most major UK companies, certainly the ones on the FTSE 100) should be the ones most negatively impacted by Brexit, and would be least likely to bounce back...

(If the theory that Brexit will damage the British trade position were correct, which I of course do not accept.)

Now he's arguing that because they do business internationally they are less likely to suffer damage to their value, and that's why they've bounced back...

He must be taking philosophical coherence lessons from Donald Trump...

Back to you rube:

[rubato]

Don't let the door hit you in the ass on your way out ...


http://www.sfgate.com/news/world/articl ... 325552.php

EU calls for UK to 'Brexit' quickly; Britain wants more time

Jill Lawless and Kirsten Grieshaber, Associated Press Updated 12:08 am, Sunday, June 26, 2016

A remain supporter stops to talk to people as he walks around with his European flag across the street from the Houses of Parliament in London, Friday, June 24, 2016. Britain's Prime Minister David Cameron announced Friday that he will quit as Prime Minister following a defeat in the referendum which ended with a vote for Britain to leave the European Union. Photo: Matt Dunham, AP / Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistribu

Photo: Matt Dunham, AP
Image 1 of 15
A remain supporter stops to talk to people as he walks around with his European flag across the street from the Houses of Parliament in London, Friday, June 24, 2016. Britain's Prime Minister David Cameron ... more

LONDON (AP) — The European Union wants a quickie divorce, but Britain wants time to think things over.

Senior EU politicians demanded Saturday that the U.K. quickly cut its ties with the 28-nation bloc — a process Britain says won't begin for several months — as the political and economic shockwaves from the U.K.'s vote to leave reverberated around the world.

"There is a certain urgency ... so that we don't have a period of uncertainty, with financial consequences, political consequences," French Foreign Minister Jean-Marc Ayrault said at a meeting in Berlin of the EU's six founding nations.

EU Commission chief Jean-Claude Juncker warned that the split was "not an amicable divorce" but noted it was never "a tight love affair anyway."

Britons voted 52 to 48 percent Thursday in favor of ending their country's 43-year membership in the 28-nation bloc.

But no country has ever left the EU before, so no one knows exactly how the process will play out. Britain must, at some point, unambiguously notify the bloc of its intentions and set a two-year clock ticking for negotiating its departure. Until then, Britain remains an EU member.

In contrast to the clamoring of EU officials, the leaders of Britain's "leave" campaign, who had reassured voters that the EU would offer Britain good terms for a new relationship, were largely silent Saturday. ..."

Britain has become a confused little Hobbit squeaking for "time, more time".

"... Britain's "leave" campaigners have been accused of lacking a plan for the aftermath of a victory.

Dominic Cummings, director of the "Vote Leave" group, said it would be "unthinkable" to invoke Article 50 before a new prime minister was in place. He tweeted: "David Cameron was quite right. New PM will need to analyze options and have informal talks." ... "

The EU are right, of course. A quick exit will allow other countries to see the negative effects of dissolution so that racist nationalist groups in their countries cannt get the traction UKIP did.


yrs,
rubato