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The Banks Strike Back
While many pundits are trying to write the prequels to Brexit and bemoaning how the "stay" position wasn't properly communicated, the banks have forged ahead to Episode V and are quite happy to predict a recession for the UK in the next quarters -- from https://www.poundsterlinglive.com/usd/5095-pound-to-dollar-exchange-rate-222311 [poundsterlinglive.com] --
The British people have voted to leave the European Union, and this time they will take full ownership of any negative economic consequences - there are no bankers to blame for any negative economic impacts.
Bank of America's Ralf Preusser believes the UK is headed for recession as a result of the increased uncertainty businesses now face, noting:
"Prolonged uncertainty could lead investors - including residential investors - to postpone decisions. We think a recession in the UK will ensue, which cuts our calendar year 2017 GDP growth forecast to 0.2% from 2.3%, even with the Bank of England (BoE) stimulating."
...
Barclays have confirmed they see GDP growth falling to -0.1% in the third and fourth quarters of 2016.
The Guardian has a slightly different Star Wars analogy, https://www.theguardian.com/commentisfree/2016/jun/27/britain-boris-cricket-leave-lies-referendum-promises [theguardian.com]
“The pound is stable,” explained Johnson, minutes before the pound was revealed to have fallen to a 31-year low, on a morning of financial activity we’ll call Episode V: The Experts Strike Back.
