The consequence thread (Brexit)

[I1L2T3 10]

It is the first step. It can still go either way at this point, but if the markets (FTSE in particular) lose 7% (as predicted) on day one and this does not recover in the next few days than we are almost certainly ahead of yet another recession.

 

Many of those that have voted out will be those in the most vulnerable positions in society, the pain of a recession will hit them hardest. Not that anybody believed this would happen, after all, financial guru Farage said it would be fine. After all, he had nothing to gain by all of this...

 

Yes there is a risk they will be hit extremely hard by this.

[Event Horizo 10]

Laws of unintended consequences and all that.

 

How long before the French rescind border agreements and just let the migrants walk onto the ferries to claim asylum in Dover?

 

They sort of did that anyway. Our borders have always been open

[Quik 10]

Wow, that is actually true.

 

S&P have already announced we will be losing our AAA rating. It's not even 8am.

 

The Bank of England are implementing emergency measures to keep the banks stable and banks are implementing plans to keep cash machines operating.

 

---------- Post added 24-06-2016 at 07:39 ----------

 

 

Coming here to claim asylum isn't illegal immigration. It's claiming asylum.

 

There won't be border control at the French side if they end the agreement. The border will be here in the UK.

 

Getting on the boat without the correct travel documents lands the operator in the same doodoo regardless of whether the illegal claims asylum or not. The ferry companies/eurostar would still be responsible if the border moved back to dover.

 

Anyway its not going to happen and the votes over and you lost so lets just bin the scaremongering what ifs and deal with what is happening not what might in the most lurid remainers imagination.

[ukdobby 224]

Farage conceded last night then changed his mind,oh what people listen to,its daft when people who don't know what a referendum is vote.

[tzijlstra 11]

Just for reference (From the Telegraph)

 

1. October 20, 1987 - The day after Black Monday was even worse -12.22%

2. October 19, 1987 - Black Monday: markets crash around the world -10.84%

3. October 6, 2008 - Market doubts over bank bailout plan -7.85%

4. October 26, 1987 - Turmoil reigned a week after Black Monday -6.19%

5. September 11, 2001 - Terrorists attack New York and Washington -5.72%

6. October 22, 1987 - Black Monday's fallout continues -5.69%

7. January 21, 2008 - World reacts to predictions of US recession -5.48%

8. July 15, 2002 - Fears over British insurance companies' solvency -5.44%

9. September 29, 2008 - Crisis after Bradford & Bingley nationalisation -5.30%

10. October 8, 2008 - Banking bail-out fails to stop wider market panic -5.18%

 

It is important to remember that the FTSE was over 7000 points in April. It has been sliding since, to 6338 yesterday, when the general feeling was Britain would Remain. It is likely to start well below 6000. The lowest, recent point was 3500 (2008 crisis). It won't fall that far, yet, but these are all indications of what the market means.

 

The BoE has very little room to back up the Pound. A cheaper pound means more expensive imports, means prices will go up as the UK imports much of its food as well as a lot of goods. If the pound does not recover to where it was (roughly 1.45$) quickly than it will hurt business all over the country.

 

---------- Post added 24-06-2016 at 08:01 ----------

 

Getting on the boat without the correct travel documents lands the operator in the same doodoo regardless of whether the illegal claims asylum or not. The ferry companies/eurostar would still be responsible if the border moved back to dover.

 

Anyway its not going to happen and the votes over and you lost so lets just bin the scaremongering what ifs and deal with what is happening not what might in the most lurid remainers imagination.

http://www.telegraph.co.uk/news/2016/06/24/nigel-farage-350-million-pledge-to-fund-the-nhs-was-a-mistake/

 

Let's see what other magic bullets are about to be withdrawn by the Leave camp in the coming days. You've been played, well and truly played.

[I1L2T3 10]

Wow, that is actually true.

 

S&P have already announced we will be losing our AAA rating. It's not even 8am.

 

The Bank of England are implementing emergency measures to keep the banks stable and banks are implementing plans to keep cash machines operating.

 

---------- Post added 24-06-2016 at 07:39 ----------

 

 

Coming here to claim asylum isn't illegal immigration. It's claiming asylum.

 

There won't be border control at the French side if they end the agreement. The border will be here in the UK.

 

Getting on the boat without the correct travel documents lands the operator in the same doodoo regardless of whether the illegal claims asylum or not. The ferry companies/eurostar would still be responsible if the border moved back to dover.

 

Anyway its not going to happen and the votes over and you lost so lets just bin the scaremongering what ifs and deal with what is happening not what might in the most lurid remainers imagination.

 

If France withdraws from the treaty and the border moves to the UK then it will be easier for migrants to cross.

 

http://www.independent.co.uk/news/uk/home-news/the-jungle-thousands-of-calais-refugees-will-be-allowed-to-cross-channel-if-uk-votes-for-brexit-a6908891.html

[Event Horizo 10]

Just for reference (From the Telegraph)

A cheaper pound means more expensive imports, means prices will go up as the UK imports much of its food as well as a lot of goods. If the pound does not recover to where it was (roughly 1.45$) quickly than it will hurt business all over the country.

 

Dam I'll have to limit my supply of turkey twisters from Herons Foods . I should have thought about the consequences now :mad:

[Daven 10]

Is it possible that immigration in fact will see a rise as many take this opportunity to come to UK before the door closes...oh dear.

 

Of course this will happen - the UK won't officially leave the EU. for 2years ,

[panzer1 10]

Some that were coming may well not but the point is how many can get in over the next couple of years compared with how many would have come in year on year if we had stayed in the eu.

[Daven 10]

Indeed

It's not good news. We've finally just had a few good years again financially as a country following recovery from the last recession, now we've most likely gone and put ourselves in another!

 

Exactly. Many of those who voted out are too young to remember the recession of the 80's. The £ has already fallen to the lowest level since 1985 - there are going to be some difficult times ahead of us.

[Guest]

Still, at least we'll have all that money available to fund the NHS, eh?

 

*crickets*

 

Oh.

[I1L2T3 10]

Farage conceded last night then changed his mind,oh what people listen to,its daft when people who don't know what a referendum is vote.

 

Some people could have made some money off that