The media is an interesting creature. All week I have watched it report every slight fall in the FTSE as the harbinger of doom and ignore any rise.
The mood music is unrelentingly downbeat. I work in the City and it indeed pretty crap.
Property and M&A deals have been put on hold. Companies are already looking at how to move their HQ's into Europe. Some staff are thinking of going home...
Re the transactional deals, even with super optimism I can see this is an issue that will last for a few months yet. That in itself is bad for business, but M&A and Property deals are not the whole world (although many debt markets are shut too).
On the other hand, property prices are about to fall quite quickly and this will stimulate demand. A lack of new issues is generally good for current equity market participants too...just not the Banks who provide the commentary.
Also, we seem to have dumped most of our useless political leaders. This is a good thing, especially if we get a new Chancellor and Leader of the Opposition who is not a cold war commie warrior.
But he most egregious thing I keep seeing is very well fed and paid people moaning about the result. Claiming the referendum should be voted out of Parliament, hiring lawyers, marching and whining. Just today I had one chap bemoaning the state of the world as he locked his DB9.
My hunch is if they ran the referendum again the Leave vote would be higher. It achieved its main objective - change to the liberal elite media dominance. Why would we not do so again?
Because we might lose Scotland - give the English a vote on that issue and St Nicola would be happier than ever?
No the moaning about the result is both dull and expected. The deed is done, the die is cast, the Rubicon crossed, the fat lady is in the cab on her way home.
Let's get this pesky bit out of the way and plan for the future - the quicker we do it, the quicker the economy recovers.