The Brexit's reactionary financial downturn is already correcting itself...

[Else You Are Mad]

Stock markets around the world rebounded for the second day on Wednesday as fears about last week's Brexit vote eased and investors wagered central banks would ultimately ride to the rescue with more stimulus. Fading concerns over Britain's vote to exit the European Union bolstered oil prices and helped boost energy shares both in Europe and in the United States. Wall Street reclaimed some of the ground lost in the aftermath of the Brexit vote and turned positive for the year.

Read the rest at:

http://finance.yahoo.com/news/asia-stocks-join-rally-uncertainty-002829973.html

[Kelvin Mace]

1. Where is the pound?

Still trading near the bottom. That has a long term consequence that won't be felt immediately. Also, once the tough questions start getting asked and decisions have to be made, things can come unstuck quickly.

[Else You Are Mad]

2. Well, how I see it.

Is what will really destroy the pound is if Scotland votes to leave the UK and remains with the EU. In that case, the remaining nations in the UK lose the energy wealth of Scotland. As of now though, the pound will fluctuate then stabilize at its normal rate of exchange .

The Brexit is nothing and can be quickly recovered from, when Scotland votes to leave the UK THAT will be the start of a depression.

[Kelvin Mace]

3. Also, the loss of Scotland's

tax revenue will hit hard.

The pound is now trading where it was at the worst of the Great Recession in 2009.

[Nuclear Unicorn]

4. I opined that the prophecies of doom were much ado about nothing.

I expected to be proven correct a month or two out.

I think the doomsayers were just trying to scare the people of Britain and elsewhere into staying but now that it's happened they may well be shown to be impotent ad well as mistaken. Once a party in a debate has destroyed its credibility they seldom recover.

[gratuitous]

5. There will be convulsions, to be sure

It may take quite some time for England to recover. The rest of the EU perhaps not so long. After all, England alone among the EU members continued to use its own currency; everyone else uses euros, and still does. The wallop the pound took was to be expected, but the rest of the EU member nations aren't that tied to the pound, and certainly not as tied as they are to the euro.

Other countries contemplating their own departure would have to decide whether to divest from the euro and re-institute their own currency, or stay on the euro to smooth out the effect. Staying with the euro might cause any number of countries to wonder, "Why bother, if we're just going to have the same currency?"

As for credibility, it remains to be seen whether (for example) the broken promise that the "savings" from leaving the EU were going to be invested in the national health will damage the conservatives. One or two Brits have already expressed some dissatisfaction with that.

[Angel Martin]

6. UK stock market has recovered all lost ground from Brexit

the Pound is down about 5 percent which would cover the 4.5% average tariff if the UK has to trade with the EU under WTO rules.

Far from the UK Brexit being a disaster, the false cries of "wolf, wolf" from the EU cheerleaders will encourage the other separatist movements in the EU.

[Rex]

8. People were ready to call it the end of the world really fast. nt

nt

[Rex]

7. So no eminent WWIII? No new Cold War? No back to the Stoned Age?

The weirdest thing, all the folks that normally yell for more facts - were going crazy with doomsday scenarios over the Brexit. I guess everyone has their limits.

[pampango]

9. The UK stock market should be fine since it responds to the 1% who should do well in the new UK.

Dumping the EU's labor and environmental regulations for Boris Johnson's "hyper-capitalist island freed from EU regulation" should be very good for the 1% and the stock market.

Conservative voters and politicians achieved their Brexit. The stock market should be fine.