Always bet on the Brits -BREXIT is happening

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I'm all for this. All the liberals can move there.

As way too "progressive" as this place is unlike The Federal government things are kind of working here now. Like the Federal government we were paralyzed for a several decades but in last 5 years this has changed. Construction is going on, the Manhatten Skyline has changed in the last few years, significant upgrades are bieng done to our very outdated public transportation. The leaders of our state Assembly and Senate have been convicted, Mayor DeBlazio and Governor Cuomo are next. The NYPD is arguably a better counter terror organization then the FBI and CIA. They have units all over the world learning things. There are no guarentees, a massive attack may happen at anytime but that no significant incident has happened for 15 years in the number one target in the world is an accomplishment. Crime is not anything remotely like Chicago and many other cities dispite DeBlazio's attemps to curb the police. So far we have not seen the political violence that has occurred in other parts of the country related to the election.

EU leaders just announced that they won't lift a finger wrt. exit negotiations until the UK has filed an article 50 notification...
http://www.bbc.com/news/uk-politics-eu- ... m-36644211

It thus seems likely that Cameron has just pointlessly subjected his own country to two additional months of chaotic purgatory and economic uncertainty by passing the buck to his successor.

... aaaaaaaaand the Credit rating of the UK just got downgraded by Standard & Poor's.

http://money.cnn.com/2016/06/27/investi ... l?adkey=bn

A downgrade was expected, but the UK lost two notches (from AAA to AA+ to AA), and S & P has a negative outlook, signalling possible further downgrades in the future...

The EU is finished. You guys act like the Britain needs the EU. It's the other way around.

Read the article. Minimal of 2 years of uncertainty after Cameron leaves. Convoluted road to divorce with multiple chanches for roadblocks.

Touche

And yet, having freed ourselves from the shackles, our economy has tanked, just like all those idiot experts said it would.

Could it be that - gasp - the relationship was mutually beneficial?

But you haven't "freed yourself from your shackles" yet.

The UK is a EU member.

If anything, this shows what a "house of cards" the UK is.

Wiki lists the UK as the second worst external debtor in the world
https://en.wikipedia.org/wiki/List_of_c ... ernal_debt

Wiki reports the UK owed 9,591,672,000,000 as of 31 March 2014.

9.591 Trillion dollars owed to foreign creditors. WOW.

The higher interest costs from downgrades will be horrendous.

It seems like "game over" for their currency.

The funniest thing is mot of the leave party did it to get rid of immigrants and that we have now been told that most likely won't happen.

My future is now f**ked because companies are pulling their money out of research. The government had confirmed they won't replace the funding meaning less jobs and less research. This means less medical and cancer research that will affect the population.

Plus the leave campaign falsely claimed we sen 350 million when we send around 242 million. It's still alot but they were still falsely advertising

Indeed. Nothing has changed yet. What we're seeing is the usual outcome of market volatility, brought about by uncertainty and profiteering.

If you wish to accurately assess the result of the Brexit, wait a decade or two.

You need to understand how that number is calculated. External debt includes all public AND private debt that is owed to foreign creditors. And since London has the worlds largest financial trading centre with foreign denominated instruments, that means that every day there is $640 billion (USD equivalent) of Euro denominated trading that takes place in London.

But that's nothing compared to Forex. 40% of the world's currency trading--about $5 trillion per day is booked in London. Almost all of that will show up in the UK's external debt, because it is trading undertaken on behalf of foreign principals.

When you look at public debt--which is the debt that actually backs the pound, the UK's net public debt is about 82% of GDP, about 5 points below the United States' 87%. These are big numbers, but not crisis level.

That's not necessarily true because many companies are already pulling out. My brother has lost a quite alot of business already. Even before 9am on Thursday he has 5 buyers pull out

The entire E.U. will probably collapse with >5 years, I don't think there was much a future and things can get a lot worse being part of a collapsing superstate like that.

The markets are punishing the UK because a lot of very wealthy people are slightly less wealthy, in this long run it will be a good thing.