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. :)

Yup. Talked down. Naughty pound listening to silly remainers.

But if you turn that chart upside down it looks brilliant! After all, we do now live in a topsy-turvy reality.

Even turning it sideways, that's a pretty flat line IMHO. Stop being so negative

Thanks, Statistically and Goudy. :)

You might be familiar with the 'Globalisation Elephant'.

Here is the Sterling Dying Elephant

More wrecking carried out by the negative Remainers!

M&G Investments suspended its 4.4 billion-pound ($5.7 billion) Property Portfolio fund, the third U.K. asset manager to freeze withdrawals after Britain’s shock vote to leave the European Union sparked a flurry of redemptions.

www.bloomberg.com/news/articles/2016-07-05/m-g-investments-suspends-trading-in-property-portfolio-fund

Why didn't all these Remainers use their incredible powers to make sure Remain won?

It's such a weird mystery.

I'll bet anyone 10 pence that the schroders UK real estate investment trust also goes "on holiday" tomorrow too.

It was right near the top of the list today , unfortunately it was the biggest losers list

Why didn't all these Remainers use their incredible powers to make sure Remain won?

Never had an answer each time I asked nor when I asked why the larger combined positivd energy of the Leave majority couldn't simply overpower us!

Is there anything about this graph that suggests a "stabilized" Pound?

If we are all putting on our positive thinking caps, then I can quite happily see how the £ has stabalised.

It went down and stayed down. That's pretty stable imo.

Dead is also stable.

Can't we simply ask Paul McKenna to hypnotize sterling up again?

Just putting it out there

Why didn't all these Remainers use their incredible powers to make sure Remain won?

Because they thought the general population was intelligent enough to vote Remain without magic.

"It went down and stayed down. That's pretty stable imo."

Not even. Feast your eyes on today's graph of Pound vs Dollar (or GBP/USD) where each bar corresponds to 1 hour.

Because they thought the general population was intelligent enough to vote Remain without magic

Yes.

A fair point.

'It'll be fine'. Yeah, people didn't think the Titanic could sink, either.

Had they not showed their negative attitude by piling into the lifeboats all would have been fine.

OMG you are SO right. It's NOT the fault of the idiots who believed the lies of economic illiterates and voted to send the country rafting towards Niagara Falls. Oh NO. It is the fault of those who can see looming disaster and swim away from it.

It's the fault of those pesky bankers again!

At least, just like on our beloved HMS Brexit, there were lifeboats on the Titanic to protect the neediest and poorest passengers from destruction in the exit aftermath.

Good job too, else they would have been royally fucked wouldn't they.

Oh, wait....

Shhh.

I'm positive thinking myself into becoming a millionaire and you are all distracting me with your negativity.

They were too negative about the number of lifeboats available. Had they believed in more lifeboats there would have been no loss of life.

Civil servant Maurice Clarke inspected the liner for lifeboats and safety equipment five hours before she left on her doomed maiden voyage 100 years ago.
He made handwritten notes at the time in which he clearly stated the vessel did not have enough lifeboats.
But he wrote that if he made the recommendation official his job would be threatened as Titanic's owners had pressured his superiors into giving the fated ship the all clear.

"Elf and Safety gone mad.eh?" Experts, what do they know?

'Idiots' may have been too harsh. I think I'd rather say 'fools' instead.

I don't mean this for every Brexit voter, just those who believed those clowns Farage and BoJo instead of competent professionals such as the Governor of BoE.

www.theguardian.com/business/2016/jul/05/european-commission-announces-crackdown-on-corporate-tax-loopholes

Bloody EU coming in and making things harder for tax avoiders.

I think someone should organise a flashmob-type thing for when the markets open tomorrow morning and we'll all think the pound up again.