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Forums - General Discussion - WOW! In 8 hours the UK economy has lost $350 BILLION! Country drops overnight from 5th to 6th economy in the world!

 

Are you ashamed of your Leave vote

yes 43 14.98%
 
no 124 43.21%
 
kinda 5 1.74%
 
didnt vote Leave 115 40.07%
 
Total:287

In eight hours after news of the Brexit broke, the U.K. lost $350 billion, which, as Belgian MEP Guy Verhofstadt remarked Friday morning, “is a greater amount than they contributed to EU budget over last 15 years—including rebate.” This has transformed the country overnight from the fifth largest economy in the world to the sixth. It has been overtaken by France, a development that the John Bulls out in force today with Union Jacks must be savoring.

http://www.thedailybeast.com/articles/2016/06/24/how-britain-tricked-itself-into-leaving-europe.html

 

Legit shook! Any people leaving the UK yet? Afraid there will be food, medicine, water shortages now that capital is leaving country at lightning speed...

28 Days Later situations upon us?



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For better or worse people want change.



Thats what happens when over 50 percent of the UK are idiots.

User was moderated for this post

-Super_Boom



loy310 said:
For better or worse people want change.

And this won't bring the change they really want.  People with shit jobs and shit lives are still going to have that whether in our out of the EU.  If anything this will have a detrimental effect on new jobs that could go elsewhere.



it's not lost, it's just somwhere else. gold, bitcoin, government bonds... will flow back at some point but to what degree is uncertain. one thing should be clear though, leave voters made a small amount of rich people richer today.



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Are thse 350 billion not based on the FTSE100 immediate drop from 6250 to 5850, but ignoring that it's recovered to 6150 again later? If so, it's a very strange way of measuring it, as the size of the economy is typically measured in the GDP, which as of yet, nobody knows how will be affected.

Or is it measured by the pound depreciating by ~10%? If so, it's also a very odd way of measuring it - the economy of a country doesn't truly gain or lose value by volatility in the foreign exchange market.

Either way, I see no way sensible explanation for the number, and the article provides no explanation for it. As such, it can't be considered credible at all.

Brexit may very well be a mistake, but as of right now, it's very difficult to tell what the ramifications will be. Using the immediate shock on the FTSE or the GBP isn't helping shed any light on the situation.



The UK's GDP didn't suddenly drop beyond France's level. There will probably be a recession this year in the UK, but not a depression.

The article is probably about the stock exchange?



Considering I'm libertarian enough to want states to do whatever they want and the US federal government to be weak, you can imagine that I support entire countries to be independent as well.



I don't care, No Man's Sky releases in August!



 

The PS5 Exists. 


I don't get it. How does the economy lose that much? Does it mean the value of the stock market?



    

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