Obama, Trump and the UK
- Thread starter TUMe
- Start date
Seems like we're about due for another downturn in the next couple years. Maybe another housing bubble?
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I'm not sure we'll see a bubble the likes of 2008 again because there were just so many cards in that house, but I can definitely see some problems in areas continuing to be hammered with job losses (ie Tulsa and OKC). Laid off people struggling to pay a mortgage that can't sell their house either because of said layoffs and exits from the city and flat or declining home values isn't a good recipe...
In my above personal story, I had two house payments for months...500 miles apart. When I started my career, refining was very stable...well we just thought it was. Hope it works out Junkie.
The US market is a not a good gauge of what's going on with Britain and EU. Big changes always shake up investors who associate risk with change. This vote was driven by people who are not big market investors and who will now see their costs of living go up as the pound drops, see promises about taxes to the EU being redirected by to the UK National Health Care or other services (already dropped), and other promises broken.
Certainly the vote expressed dissatisfaction but like angry drunks in a bar voters may not always pick the right target. We'll see if this is universal in the fall.
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I used to wonder why my Wall Street friends used the term "mullets" to mean individual investors they would raise cash from. Eventually, it became clear. Mullets are small fish that swim around in large schools until they get eaten by larger predatory fish.
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