Actual economic effects...

[Spinflight]

FTSE closed on Wednesday at 6138. Closed on Friday at 6138.

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. :)

Yes, 47% is a big fall, particularly when you consider that there would have been a referendum effect in the weeks before the vote.

The jobs report comes out tomorrow, I think. Might be too soon to give any clear information, but will be interesting.

That pledge to work together (because that's all it was)?

Nice words, but this comes from GO who's assured the world for months that hopeless and irreversible financial armaggedon will be unleashed in the event of Brexit, plus a bunch of guys with some serious nuts on the line when it goes down (note the standard chartered chap seems to have quickly forgotten his was the first property fund to go AWOL from trading stations).

And we're NOW expected to believe that it's all going to be OK, when reality suggests exactly the opposite, and keep money invested? Presumably until companies like standard chartered close the exit doors I don't think so

France made strong bid for banking business poised to leave London

As if things weren't bad enough. Chocolate set to get pricier after Brexit vote

Chocolate?

There has been the biggest drop in consumer confidence in 21 years across all regions.

www.theguardian.com/business/2016/jul/08/brexit-vote-batters-consumer-confidence-slide-gfk-yougov-regions

Unsurprisingly, Remain voters are more gloomy. However, I am astonished, astonished I tell you, that Leave voters are not exactly brimming over with confidence in our bright new future. Somebody should tell them to Think Positive and Stop Talking Britain Down .

www.theguardian.com/politics/2016/jul/08/brexit-fallout-what-it-means-for-the-uk-consumer

Paah - the Guardian. What does it know? The journalists are just making up these reports.

Lush are moving all future growth and any staff based in their Poole factory who wish to go to Germany

A factory in Germany was on the horizon anyway, but in the wake of Brexit all future growth will be based outside the UK and no further jobs will be created in Poole.

A factory in Germany was on the horizon anyway, but in the wake of Brexit all future growth will be based outside the UK and no further jobs will be created in Poole.

That's spinning it a bit, as the article says

Lush, which currently produces about half its global output in Poole, announced earlier this year that it was opening a factory in Dusseldorf, Germany.

I'm a remainer but this is just trying to put the outsourcing squarely at the foot of on Brexit, its a puff piece...

I can't stand their stores anyway, they make my eyes water and my nose itch. Sorry off topic, but I have teenage DDs and I get drug in there often It's only slightly better than Hollister which also makes my eyes water and nose itch, but then I am in the dark with loud music to boot.

Pah. Lush. Silly unethical little company. We don't need them. Who needs scented bath bombs anyway

I read what the article said. The factory was already happening but now all growth will be there (subtext being that wasn't the plan previously) and that "there will be no future jobs created in the UK from Lush." So.....a reduction in jobs growth/investment in the UK by a UK based firm. Maybe you should stop patronising other people and start reading.

*Justanotherlurker" they weren't moving to Germany anyway.

They were opening another, additional factory in Germany.

The Poole factory was going to remain open.

(It's just that no further jobs will be created there, following the referendum result.)

Since he also said “We have considerable growth. We can move the European production to Europe and still be as busy as we were last Christmas,” it seems to me like the factory in Poole will just be kept ticking over to preserve jobs for staff already there and major production will now be outside the UK.

Presumably to ensure continued access to the single market. It's quite a smart plan if you ask me. Produce all products to be sold in the UK in Poole and ship all other production to Germany. He's coming across a bloke who really cares about his staff, migrant or otherwise and is pissed off with the people of Poole.

Lush have a lot of stores here in the US and Canada. No reason why the UK facility can't produce for non EU markets and the German facility produce for the EU. The local store to me is always having a problem with having enough products because so much goes to Europe first (lower shipping costs). It is smelly but they do a couple of excellent hand soaps.

The UK is having problems in the financial markets because of the political vacuum. We basically have no functioning government until September 9th when we will have a new PM (and hopefully a leader of the opposition too).

Now I think what we need is for our politicians to scrap their summer plans, elect some new leaders and figure out a plan b and a plan c. I can't believe the incompetence of our MPs that they think a summer recess is acceptable.

I can't believe the incompetence of our MPs that they think a summer recess is acceptable.

I didn't realise that they are having a summer recess. That is just not acceptable.

TheElementsSong

I totally agree supermum. I'm gobsmacked at the power vacuum.

The leadership election needs to be brought forward. 6 weeks now of Andrea wittering about God, foxes and babies is a complete waste of time. And the markets can't wait long.

Right now, May should, as Home Secretary and one of the leadership candidates, take on the role of acting leader - and address the country.

It's too early to have any detailed Brexit plan prior to negotiations with Brussels but it's not too early to outline the basis of these plans and negotiations for the country to discuss.

One of the major problems that needs to be addressed is that Leave voters all voted for different things, quite often just for one issue, ignoring the others. Many of the motives for a Leave vote are not possible to fulfil. It's quite likely that we won't get imigration control within the single market, we won't get complete freedom from legislation or financial contributions to Brussels. Apart from anything else, Leave voters have a right to know this.

As a country we need to lay out all the issues on the table for national debate.

It's absurd that my information on the possiblity of actioning Article 50 without Parliament comes from QC, and specialists in constitutional law not the government, for example.

And the markets can't wait that* long.

I agree Manon the idea that they are all going to swan off on their summer holidays while the country goes down the toilet just makes me mad.

How do we put pressure on them?

We, the electorate, have about as much influence on the MPs' schedule as we do on the next PM

I guess we have to protest. I've already emailed my MP and I have sent a copy via mail.

I have also written to the FT, telegraph, Guardian and Independent.