Posted on 08/20/2016 5:04:12 PM PDT by Lorianne
Unemployment would rocket. Tumbleweed would billow through deserted high streets. Share prices would crash. The government would struggle to find buyers for UK bonds. Financial markets would be in meltdown. Britain would be plunged instantly into another deep recession.
Remember all that? It was hard to avoid the doom and gloom, not just in the weeks leading up to the referendum, but in those immediately after it. Many of those who voted remain comforted themselves with the certain knowledge that those who had voted for Brexit would suffer a bad case of buyer’s remorse.
It hasn’t worked out that way. The 1.4% jump in retail sales in July showed that consumers have not stopped spending, and seem to be more influenced by the weather than they are by fear of the consequences of what happened on 23 June. Retailers are licking their lips in anticipation of an Olympics feelgood factor.
The financial markets are serene. Share prices are close to a record high, and fears that companies would find it difficult and expensive to borrow have proved wide of the mark. Far from dumping UK government gilts, pension funds and insurance companies have been keen to hold on to them.
City economists had predicted an immediate rise in the claimant count measure of unemployment in July. That hasn’t happened either. This week’s figures show that instead of a 9,000 rise, there was an 8,600 drop.
Some caveats are in order. It is still early days. Hard data is scant. Survey evidence is still consistent with a slowdown in the economy in the second half of 2016. Brexit may be a slow burn, with the impact only becoming apparent in the months and years to come.
(Excerpt) Read more at theguardian.com ...
Just like the big oil spill in the gulf, the panic mongers were wrong. And there are many more examples.
OK then. More EXIT.
You don't seriously expect me to believe that they were all 100% totally wrong, do you?
Actually, I think they were lying through their teeth, and also wrong.
Brexit will never happen, They will wait two years and revote
It has happened...for people that wanted the UK to go away via mass immigration.
The same bed wetters that are warning the rest of us about voting for Trump.
I have a question. When Britain joined the EU, did everything in the nation suddenly change ?
Reminds me of the shrieks of doom and disaster in every state when Shall Issue came up. Not a peep out of ‘em a year later when nothing happened that way.
I’ve grown deaf to their various predictions of Apocalypse Now.
Not overnight.
It was a thirty year drip fed tide of destruction.
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