EU Membership Referendum (Brexit)

[poklius]

Global markets lose record $3tn since Brexit vote
http://www.ft.com/cms/s/0/91dd01b6-3caf ... z4CuGYQf7W

I know its a bit far fetched, but there was 17,410,742 votes to leave, which means (if my math is correct) every leave vote just lost around $172.3k in global markets

[LeTiss]

It's Ok saying that, and thinking wow was Brexit a mistake. However, it just shows how fragile the world's economy actually is, and it doesn't take much to cause mayhem.

The world of finance is basically just a massive, elaborate game of Jenga

[jimibt]

The world of finance is basically just a massive, elaborate game of Jenga

not sure if you've been introduced to the wonderful multi-colored world of drain rods. bought some last week and was VERY impressed AND surprised at the effect that pressure, followed by swift suction creates. Let's just say that I now understand the need for a water(?)proof overall for such DIY!! (true story from last weekend -I know how to get my thrills and errr.. spills ).

so yeah - i totally understand the rules of jenga

[to75ne]

Global markets lose record $3tn since Brexit
:

if the global markets have lost all that money, who have they lost it to?

who now as all that money?

where is all that money now at this precise moment in time?

[Lost The Rider]

The short answer is potentially no one has that money, it has vanished into thin air.

If you google the implicit and explicit value of money that will explain why money can seemingly vanish from the market with no one benefitting.

[Black Ice]

Euler...that is the funniest youtube vid i have ever seen..its completely brilliant..watched it twice now and i laughed til i cried!!

[Euler]

if the global markets have lost all that money, who have they lost it to?

The fractional reserve system means money can be created and lose value having never been there in the first place!

[ricardodeano]

Hi Peter

I noticed you retweeted the following status

https://twitter.com/nntaleb/status/748143354324598784

Can you, or anyone, tell me what I'm looking at here?! My AS statistics knowledge left my brain about the same time as my alcoholism developed

[andyfuller]

Farage to storm to power

I know that was said in jest but I think the Conservatives need to be very careful in what deal the negotiate if they don't want to hand a huge amount of votes to UKIP both from the Conservatives and Labour.

If, what I suspect at the moment, will happen in that we get a partial exit from the EU where immigration remains unrestricted a lot of leave voters will be left feeling cheated out of what they voted for.

As such I think a lot of those people will look towards UKIP come the next general election and they will win seats.

Who knows there could end up being the need for a Conservative/UKIP coalition...

[andyfuller]

Well that carnage in the FTSE 100 lasted a long time

FTSE 100 closes above pre-Brexit level

http://www.bbc.co.uk/news/business-36660133

[marksmeets302]

That's the ftse in pounds... convert it to any other currency and it's still down by a lot.

[jimibt]

That's the ftse in pounds... convert it to any other currency and it's still down by a lot.

yes, the power of using data without balance (i.e. neglecting to factor in the weakmess (intentional typo) of the ££). it's scary that many will be suckered into thinking that last weeks' events were a flash in the pan and worse, many will continue to use false indicators to monitor the fallout.

[PeterLe]

Boris has just pulled out of the leadership race ...

[jimibt]

Boris has just pulled out of the leadership race ...

omfg - he really DIDN'T think the leave campaign would win.. shame on him for not honouring his final commitment, after switching the lights off

[Euler]

Matched at a low of 1.33

Wonder what is going on there? Why wouldn't you following through on a campaign win?