Brexit Armageddon was a terrifying vision – but it simply hasn’t happened
By Larry Elliott – The Guardian.
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.
Don’t be fooled. There will be damaging fallout from Brexit – By
Two months on, leave campaigners now acknowledge that a key driver of their successful campaign was not to argue via fact and evidence, but rather to stir raw emotions – “psy ops” as Iain Duncan Smith has called it. Fact-based criticism was dismissed as part of “Project Fear”, a way of monstering inconvenient challenges to the blithe it-will-all-be-fine claims of leave. It worked then, and to a saddening degree, it is still being deployed.