If we vote for Brexit what happens

Friday's 2nd revision data for UK Q2 GDP

Q2 2016 UK GDP revision data report 0.6% prior q/q

• Prelim 0.6%. Q1 0.4%
• 2.2% vs 2.2% exp y/y. Prelim 2.2%. Prior 2.0%
• Exports 0.1% vs 0.7% exp q/q. Prior -0.4%
• Imports 1.0% vs 0.8% exp q/q. Prior 0.1%
• Private consumption 0.9% vs 0.8% exp q/q. Prior 0.7%
• Government spending -0.2% vs 0.3% exp q/q. Prior 0.5%
• Business investment 0.5% vs -0.8% exp q/q. Prior -0.6%
• -0.8% vs -1.4% exp y/y. Prior -0.8%
• Gross fixed capital formation 1.4% vs 0.4% exp q/q. Prior -0.1%
• June index of services 0.2% vs 0.1% exp m/m. Prior -0.1%. Revised to 0.0%
• 0.5% vs 0.4% exp 3m/3m. Prior 0.3%

First thing to remember is that there's very little actual Brexit noise in this data. Any negatives will be pre-vote nerves and not after vote effects.
Even so, there's good news for business investment, which is something you would have expected to see take a further beating on Brexit worries. The fact it's snapped back suggests that the fear surrounding the vote has lessened. Consumption was up too which shows there wasn't much Brexit fear there either, something that we've seen confirmed in the recent retail sales.
Let there be no mistake that there are many more twists and turns to go but looking at this data, the pre-vote fear factor may have been overplayed.

http://news.forexlive.com/!/q2-2016-uk-gdp-revision-data-report-06-prior-qq-20160826

EU free movement of labour was an artificial construct which seemed feasible at the time. Now like many other EU barnacles it seems be set in stone. I wonder why no EU leaders are willing to take another look?

Anyway it was that principal that might have been the Brexit deciding factor.

Meanwhile I'm picturing the Cabinet Office on May's return from holiday: "now, about Brexit. What should we do? Can anyone suggest some ideas?"

Except that judging from reports about the Eurozone, it is about to go 't..'s up' very soon – and that won't be anything to do with Brexit. There have been many warnings about this happening for quite a while, but the can has been constantly kicked down the road. It will shortly hit a buffer.

I'm not crowing about this – it is a very bad idea for the world economy (probably including ours), let alone that of individual European countries. Merkel, Juncker, Sczultz and the rest should have taken radical action to prevent this from happening long ago, yet they carried on doggedly with their 'project'. The EU has succeeded in impoverishing countries in the Eurozone, not enriching them – well, not in a way that I would call 'enrichment' in any shape or form.

What a mess. Brexit needs to happen as soon as possible.