Brexit: the referendum

The pound has just hit its lowest level since 1985. Brexit has almost certainly won, and we're screwed. Well done, you economically illiterate morons who voted leave. :(
 
This "brexit" referendum is confusing for Americans. I understand the UK voted to leave, but no mention of where they will go.

Also, why doesn't the Queen just decide this stuff? Isn't that what a Queen is for?

At least you will be able to buy guns now.
 
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lionking said:
Well I'm not Limbaugh and I'm not talking about Obama. Do you seriously not see the difference here?
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There is no difference. You've been suckered by the people selling FUD, the same way that people get suckered over here.
 
Ian Osborne said:
The pound has just hit its lowest level since 1985. Brexit has almost certainly won, and we're screwed. Well done, you economically illiterate morons who voted leave. :(
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Sadly, you are correct.

It will now be cheaper for me to visit the UK. This gives me no joy.
 
Might be time to get that Irish passport.

A bit of paperwork and 80 Euros and I'm sorted.

How much is 80 Euros now - about three thousand quid or something?
 
May be good for us "Convicts". We may be able to sell you much more, particularly agricultural goods. Mad Cow free :D
 
Christ, Bojo is seriously a chance to be next PM.

The U.K. will become more of a laughing stock than it is already.
 
MarkCorrigan said:
So you're comparing one talk radio host and his unfounded speculation with what is actually happening right now in the forex markets
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It was unfounded. Markets reacted negatively when Obama was elected too. Limbaugh just blew it out of proportion. Just like what is happening here. Tell ya what, if the UK is a smoking heap of ash in a year you can say I told you so.
 
Tony said:
There is no difference. You've been suckered by the people selling FUD, the same way that people get suckered over here.
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Again, Tony, the market is imploding as we speak. The pound is in worse shape than during the double dip recession.

You still think that this is just bluster? Even if we do somehow recover a bit this is still a serious problem.
 
Puppycow said:
So you are saying that wages will rise?
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They won't - it's an idiotic assertion that should be ignored.

Wages won't be going up as the economy contracts. The number of jobs will fall and that will keep the lid on any wage inflation. I would expect wages to fall considerably in real terms.

The currency will balance about 5% lower, leading to 5% more cost for imports.
 
Fudbucker said:
A falling Pound makes exports cheaper. I predict longer hours in the workhouses!
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Not if the item they're selling is originally imported from the EU. I'm sure all UK businesses will want to eat the higher markup on EU imported goods so the the consumer pays less.
 
Tony said:
It was unfounded. Markets reacted negatively when Obama was elected too. Limbaugh just blew it out of proportion. Just like what is happening here.
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There's going to be an overreaction, no doubt about it. I am a non-UK person and have a bit of cash ready to take advantage of sales like this tomorrow or in the next few days.

In the big picture and longer term, I'm still not happy about this big mistake, though. Feel bad for the UK. :(
 
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wombatwal said:
May be good for us "Convicts". We may be able to sell you much more, particularly agricultural goods. Mad Cow free :D
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I can't remember the details right now, but the UK already had an exemption for a certain level of Aus/NZ ag goods (particularly lamb and butter, IIRC), so it would take imposition of a tariff on EU goods to cause displacement.
 
wombatwal said:
May be good for us "Convicts". We may be able to sell you much more, particularly agricultural goods. Mad Cow free :D
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Will be bad for Australia.Your exports will be dearer and the amount will logically fall.

The best estimate of UK GDP is a 2% fall through Brexit, so selling them more is highly unlikely.
 
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