Right now we are rapidly approaching a watershed that will determine which way it will go. On a day-to-day basis, it's up and down like a bride's nightie and the effect of these moves tends to take months to have an impact. For example if we buy crude oil to refine (we have to pay in US dollars) and the pound crashes, the stocks we have will last a while before they start to pass on the price increases to consumers - but it will happen sooner or later.
We have one group of people who believe that unrest in the markets is only a temporary state of affairs and that we'll be able to negotiate trade deals similar to the ones we had prior to the referendum.
So when will this happen? (I am assuming that the bull about not negotiating until we press the button is nonsense as we have very close relations with our partners))
Will we ever get back to having a stronger economy than France as we used to have a couple of months ago?
Thought a thread monitoring the economy might throw some light on what our future holds and where Britain's place in the world will be once the dust settles:
Today is not a good day for the economy as we have the first post-referendum data available and it shows that the economy has slumped in July with manufacturing, construction and the service sector showing significant reductions in both output and orders during the month.
This in turn caused a fall in confidence in the pound which slid further today.
On the positive side, there is a slight increase in export demand due to the weak pound so it looks like the volume may return even if the profits don't. FTSE has also put on a brave face and is trying to rally but is holding at best.
The situation isn't being helped by European media now starting to be more bullish about the situation with e.g. Italian papers saying "Brexit will hurt them more than it hurts us".