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True, but thanks in part to a shitload of quantative easing... and a lot of jobs are already gone/going.
"oh no this can happen"
sensible people take action, change course, most of the danger averted
"project FEAR"At some point the sensible people may just give up taking action :)
Using macroeconomic predictions is always risky though, cos you can give them if XYZ don't change too much. The latter is often forgotten about/not heard in the first place. Job losses/factories closing/banks going is concrete.
JWestland
Also not helped by the highly negative forecast for the point immediately following a brexit vote (500-800k job losses, drop in GDP) which didn't happen. This means that people now point at other forecasts and use that to justify they'll be wrong too.