Death of the phony Brexit

Some five weeks after the result of the referendum was known, and it is now that reality bites.

During the run up the the 23rd, there was claim, counter-claim and downright lies, mostly from the Leave campaign, lies about how much money we would save, how we could stop immigration and that "take back control".

And since the initial shock, not much has happened, in relation to the economy Until yesterday.

The Bank of England yesterday reduced interest rates to 0.25%, and warned that they might go further in the forthcoming months. For the previous year, talk had been of when the BoE would put interest rates up; but now they have had to reduce them, on only the hint of Brexit.

Quantative Easing totally £60bn, that's printing money to you and me, was also announced to buy up bonds. A further £100bn was also to be spent in stimulating the economy, encouraging banks to pass on the interest rates to you and me.

It also said it expected 750,000 jobs to be lost.

And this was after these measures were taken, not before.

And yet, some members of the 4th estate have taken these dire warnings and acts to spin Brexit in a positive light. You really could not make it up.

Governor of the Band of England, Mark Carney, has been accused of talking down the economy, being one of the experts that Michael Gove told us many Brits were sick and tired of. Thing is, if he was wrong, the economy would boom after these measures, so we shall see. The pound dipped on the news too.

Now we wait for these much talked up trade deals that we are told the Government are in the process of agreeing with countries outside the EU. But then the truth is somewhat different, as countries like the US and Canada have said not only is it against the law to even discuss trade deals with Britain until it leaves the EU, that many other countries will not begin talks until they, and we, know what Britain's relationship with the EU post Brexit is known.