What are you doing to prepare for the inevitable hard brexit this october?

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maachu_pichuu
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What are you doing to prepare for the inevitable hard brexit this october?

I am slowly moving into dollar assets, in anticipation of a plunge in the pound. I am going to start stock piling food as well, especially bags of rice and tinned food. If I was in the US, I would also be loading up on ammunition and self defence weapons.
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ecolier
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I will change my avatar to one with tears.

Anyway it wouldn't be a hard brexit. This thread is a click bait. There's too much at risk for our politicians to allow it.
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maachu_pichuu
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(Original post by ecolier)
I have changed my avatar to one with tears.

Anyway it wouldn't be a hard brexit. This thread is a click bait. There's too much at risk for our politicians to allow it.
Boris or Raab would happily drive the car off the cliff. If anything, not delivering Brexit means the conservative party is destroyed and Corbyn gets into number 10. The best option now is to prepare for a hard brexit, the EU won't give us anything.
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maachu_pichuu
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The race will be between Boris and Hunt, one side backing leave, the other side backing remain. With Hunt we will stay in the EU, but the conservative party will be destroyed. With Boris we will leave the EU, but the economy will get a shock and may plunge into recession. Hence why it's a lot safer to protect yourself in dollar assets.
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xDron3
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Nothing at all, the world won't stop turning unlike some that think it will.

I'll still wake up at 8, go to work, come back home and have a pint with my mates, take my holidays and do what I usually do.
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fallen_acorns
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If you want to move into foreign currency, do it well before the leaving date. The markets will price it in as the signs come that it is increasingly likely to happen appear. The only time I could see a sudden drop like we had after the referendum is if there were a last-minute negotiation that looked like it was going to work, and then suddenly it fell apart. I think its more likely though that if we are to leave without a deal, it will be a gradual thing. First a tory leader who is open to the idea will get elected, then they will win a general election, and then they will have a unsucesful attempt at negotiation where it looks increasingly likely that we will leave without a deal, and then they will have to prepare the country for a no deal scenario. I am not saying this will happen, but its the most likely path to no deal, and the market will factor each event in, and account for it. So were we to leave without a deal, I think its likely we will see a gradual decline in the pound, upposed to a sudden one, like we saw in the referendum.

As for what I am doing. Nothing really - I don't live in the UK, and the new jobs I am looking at moving for are still outside of the UK, and all my assets are already outside of the UK.. all I am doing is just waiting and seeing like everyone else, and wondering if the UK will ever be enough of a stable and prosperous place for me to be confident in going back and moving my family there.
Last edited by fallen_acorns; 1 year ago
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barnetlad
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I don't think the hard Brexit is inevitable, but will have some extra food in store just beforehand, should it still seem possible two or so weeks beforehand.
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OctoberRain7
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Apart from getting an Irish passport which I had wanted anyway, nothing really. It’s Brexit, not the apocalypse.
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maachu_pichuu
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(Original post by fallen_acorns)
If you want to move into foreign currency, do it well before the leaving date. The markets will price it in as the signs come that it is increasingly likely to happen appear. The only time I could see a sudden drop like we had after the referendum is if there were a last-minute negotiation that looked like it was going to work, and then suddenly it fell apart. I think its more likely though that if we are to leave without a deal, it will be a gradual thing. First a tory leader who is open to the idea will get elected, then they will win a general election, and then they will have a unsucesful attempt at negotiation where it looks increasingly likely that we will leave without a deal, and then they will have to prepare the country for a no deal scenario. I am not saying this will happen, but its the most likely path to no deal, and the market will factor each event in, and account for it. So were we to leave without a deal, I think its likely we will see a gradual decline in the pound, upposed to a sudden one, like we saw in the referendum.

As for what I am doing. Nothing really - I don't live in the UK, and the new jobs I am looking at moving for are still outside of the UK, and all my assets are already outside of the UK.. all I am doing is just waiting and seeing like everyone else, and wondering if the UK will ever be enough of a stable and prosperous place for me to be confident in going back and moving my family there.
Yes, you are correct, the market is slowing pricing in a hard brexit with sterling weakening. I want to buy some more Facebook since it became cheap and I believe sterling will drop a lot further as no deal risk is priced in. I see a sterling bottom at 1.1 to the dollar. Then once brexit is over, UK stocks become attractive to buy.
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londonmyst
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I'm not into project fear, hard brexit = guaranteed economic apocalypse.
But I am taking as much overtime as I can get and cutting down on as many costs as possible to fund bulk buying my favourite food brands & stockpiling non-perishable canned food supplies.
Also looking into cheaper accommodation outside of London, for when my tenancy ends.
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activ8
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Brexit preppers = Breppers?
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aa-k
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Failing my exams so I have to retake them
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maachu_pichuu
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(Original post by londonmyst)
I'm not into project fear, hard brexit = guaranteed economic apocalypse.
But I am taking as much overtime as I can get and cutting down on as many costs as possible to fund bulk buying my favourite food brands & stockpiling non-perishable canned food supplies.
Also looking into cheaper accommodation outside of London, for when my tenancy ends.
It's not economic collapse, but the supply chain from the EU will be affected.
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username8408717
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(Original post by ecolier)
I will change my avatar to one with tears.

Anyway it wouldn't be a hard brexit. This thread is a click bait. There's too much at risk for our politicians to allow it.
With BoJo in charge you never know...
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sachinihimara
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I'm collecting pasta
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maachu_pichuu
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(Original post by TS33)
With BoJo in charge you never know...
I can hand on heart say that when Boris Johnson says he is prepared to go for no deal, he is. It makes sense as well, how can you negotiate a good deal if you are not prepared to walk away. No deal hurts the EU as well, as the people buying their goods grinds to a halt. EU is too stubborn either way to renegotiate, they are a nasty bunch and want to make an example of the UK for whoever decides to leave next.
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CuriosityYay
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Big Ol Nothin'
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barnetlad
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(Original post by TS33)
With BoJo in charge you never know...
(Original post by maachu_pichuu)
I can hand on heart say that when Boris Johnson says he is prepared to go for no deal, he is. It makes sense as well, how can you negotiate a good deal if you are not prepared to walk away. No deal hurts the EU as well, as the people buying their goods grinds to a halt. EU is too stubborn either way to renegotiate, they are a nasty bunch and want to make an example of the UK for whoever decides to leave next.
Boris Johnson made enough enemies in Brussels when a journalist. Never mind his lack of grasp of details. So if the Tory membership take leave of their senses and choose him, no deal is a real possibility.
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maachu_pichuu
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I believe the EU have (for better or worse) overplayed their hand. They had it good with Mrs May, who was willing to bend over backwards for them. Now it's going to get a lot harder from the british side, Boris or Raab incharge will put no deal back on the table (which is where it damn right firmly should be) and try to get the deal the UK wants. The EU will call our bluff and not budge, all in all, leading to a no deal brexit on 31st october after parliament has been suspended by the queen in request of the prime minister.
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maachu_pichuu
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(Original post by barnetlad)
Boris Johnson made enough enemies in Brussels when a journalist. Never mind his lack of grasp of details. So if the Tory membership take leave of their senses and choose him, no deal is a real possibility.
Boris is the only politician that can defeat Farage and the rise of his Brexit Party. You have to deliver Brexit or your party is finished, it's the poison chalice no one wants to drink but is happily being passed around. Now boris has the chalice.
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