Actual economic effects...

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Long term borrowing rates have come down as brexit appeared more likely, 10yr ones from 2% down to 1.09% post brexit. Similarly all the European long term borrowing rates rose sharply. Lesson? We are a less risky and more credit worthy outside the EU than in.

One ratings agency did drop our credit worthiness, though oddly the last time they did was out of fear of Eurozone contagion. Seems completely at odds with the long term borrowing rates, which matter quite a great deal given our debts.

The pound dropped, quite significantly. It appears however that there was some 'unusual' activity in the market which forced it down whenever the Leave campaign polled well. To the extent of trying to sell it when there were no buyers.

Some people lost a great deal of money, probably dwarfing the millions contributed to the remain campaign, lets hope it was Goldman Sachs and JP Morgan. :)

I am not so sure. Florida definitely has a racism problem. A big one. Loads of tourists keep going.

Quick Googling on my phone suggests UK's tourism revenues are about $22bn (~ £14bn) which is peanuts compared to its economy.

Expect it to increase thanks to weaker Pound but even if it doubles, it won't make a difference to UK's economy.

£22bn might be small relative to the size of the total economy but it's certainly not peanuts in absolute terms.

But it's only material to this discussion if we think that it will change significantly - and there are reasons to think it won't. The UK will be cheaper for tourists, which is good, but if there is any hint of instability, that will be bad, especially for American tourism (and US visitors are presumably among the biggest per capita spenders).

even if it doubles, it won't make a difference to UK's economy.

But Cote, tourism and hovercrafts are going to save the economy!

I agree Cote, tourism will go up, but it won't make much difference overall.

Has anyone seen this?

Re real-world economic effects, I'd just call everyone's attention to the latest business news this morning. Of course, the Leavers will just say what they always do: to be expected, only temporary, etc.... For the first time ever, I'm glad not to own property in the UK.

Well presumably nobody thinks the economy is going to decline forever?

Tourism might well increase and there are likely to be opportunities if it does.

How much you want your ecomony relying on the tourist dollar is anotger issue.

ps - it's not just one ratings agency that has cut the UK's credit score, by the way

Sorry Misigirl. I'm so sleep deprived I didn't even see the second half of your post.

Oh, pensive! Don't you know that has nothing whatsoever to do with Brexit. It was going to happen anyway.

Nothing has anything to do with Brexit. It is just coincidence.

And if Mark Carney comments on what is happening, he is simply determined to try to prove his forecast correct.

Pangurban Thank you for making me smile about an unfunny situation!

At this rate my holiday in the states in October is going to wind up costing me less than expected, cos the pound will be so bloody weak it won't be cheaper to shop over there anymore

Pangurban But actually I'm feeling particularly gloomy today and I don't give a fig if I'm singlehandedly Talking Britain Down.

Just thinking about the devastating effects in my field of work alone is bad enough, let alone the wider carnage that is going to hit all of us.

Summer that suggests we'll see an immediate impact in the employment numbers - trouble is it will be the middle of September (I think) before the figures for July are released.
And a further time lag before those unfortunate people start to show up in the JSA claimant count.

By which time we will be able to switch from "the effects are too soon, it can't be because of Brexit" to "its been aaaaaaages, it can't be because of Brexit."

Yes probably! Perhaps not as bad as it looks (couldn't be much worse though) as recruiting is something it is very easy to put on hold and take up again a few weeks later if you are not sure about the situation.

I also saw this for useful dates of the release of relevant statistics

There is a lot of uncertainty after Brexit and we are still in leadership limbo. Not surprising businesses have recruitment on hold. However, there are now positive moves afoot to make the most of the situation - not from gloomy old Osborne of course - but from Javid.

What do you think of his tax-cutting, growth stimulation proposals?

To summarise the plan is:

1. Tell the EU nationals they can stay
2. Guarantee to match the EU's economic grants til 2020
3. Cut taxes to stimulate business growth
4. Invest in infrastructure projects

www.telegraph.co.uk/news/2016/07/05/my-economic-plan-for-britain-after-brexit/

I approve and think this is the way forward. I also like the way he puts the pledge of certainty to EU nationals as his first point. Good man.

Got accused on another forum of "working for the EU" when I said I knew people directly affected by Brexit (one friend whose internship in Milan was cancelled) and two other friends who had contracts (small companies, so small beer - but big to them) who had contracts cancelled.

Was asked repeatedly to "name them or it's not true" - so had to explain that I couldn't do so (wasn't going to name a recent graduate on t'internet and those small companies also don't want people to think they're desperate if they'd been larger I'd have had no qualms)

It's all these small things that add up

I agree, Milly, I also approve of Javid's proposals.

That there have been wffects based on short term.uncertainty is both undeniable and not terribly instructive.

What matters is whether this uncertainty leads to medium or long term differences.

I strongly suspect it will.

But even at that I don't believe an economy wuth its own currency at 60 odd million people is going to be in recession forever.

I don't believe an economy with its own currency at 60 odd million people is going to be in recession forever
Exactly. In fact I think Javid's plan would take us straight into growth. Is there a chance he could be Chancellor do you think?

I suspect a good many Leave voters have stories with names of people who have lost their jobs in favour of cheaper labour from Eastern Europe or whose jobs have been moved to EU countries offering more favourable tax breaks.

I think approximately no chance.

But I'm still heartened that someone is there making the right arguments.

Do you think Osborne will still be Chancellor?

Most of Javid's proposals seem pretty sensible to me. I don't agree with lowering tax for higher rate payers. That money always has to come from somewhere and it's usually straight out of the pockets of those at the bottom.

Will it throw us into immediate growth? Surely if it were that simple, we'd have done it already?

On the point of making sure the UK regains control of immigration the EU have repeatedly said they will not agree to it, so I don't understand why people keep asking for it? We cannot trade with the EU without free movement.