UKIP have precipitated a deep constitutional and existential crisis for the UK and an identity crisis for individuals. Leavers may be feeling euphoric for the time being but unless something solid is put together soon many of them may crash and feel the crisis too. The markets do not know who the Prime Minister will be, who the Chancellor will be, who the leader of the opposition will be or who the shadow chancellor will be. They do not know whether there will or will not be another referendum, will or will not be another general election before 2020. There is an ever shrinking tax base. We can expect higher taxes and spending cuts. European funding for deprived areas, those very areas who voted massively in favour of leaving, will cease. There is no guarantee that this funding can be replaced even if there is the political will. There will always be those who will profit from the misery of others, even if the misery was self-inflicted. I see no reason to rejoice in any of this.
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