Jim Cramer researched the true cost of a British independence from the European Union (EU) and the results were staggering.
"Brexit was the dumbest financial mistake I can ever recall, a genuine Humpty Dumpty move, and all the queen's horses and all the queen's men probably can't put the union back together again" the "Mad Money" host said.
Trillions of dollars have been lost in value worldwide, and Cramer says it all was because the U.K. didn't bother to think things through. That is why he took the time to detail how stupid the vote really was, and just how unprepared the British government was for the results.
Cramer boiled the exit vote down to two issues: net fees that Britain pays to the EU and the immigration issue.
There have been talks of a do-over for the Brexit vote, but Cramer doesn't think that is likely. Whoever takes over as the next Prime Minister will need to slow things down to let the world catch its breath in order for the pound not to fall farther.
As for other countries following Britain's footsteps, Cramer doubts any other country would make the same dumb mistake.
"The financial penalty for leaving the EU is now so palpable that only the most extreme of xenophobic nations would even debate the issue" Cramer said.
Ultimately, Cramer found this to be the dumbest financial mistake he could ever recall. This one decision has caused British taxpayers to lose far more money than they would save from leaving the EU.