The original forecasts were based on immediate invocation of Article 50, and without a significant intervention by the Bank of England, and without an uptick in global growth (which Britain is bottom of the class in). Instead what we got was a big devaluation in the Pound, slicing billions off the wealth of the country.
The other elements of the forecast are coming, they're just following on a time lag because they're dependent on choices getting locked in. The not so funny thing about Brexit is that it's like a game of chicken: the market doesn't believe Britain will choose drive off the cliff edge, so it hasn't priced in the damage; but that lack of pricing information makes it more likely Britain will drive off the edge.
It's one situation where markets might ironically be ill-suited to judge because of feedback effects. The worse the outcome, the less likely the market is to believe it, which sustains the delusion that it won't be bad.
The other elements of the forecast are coming, they're just following on a time lag because they're dependent on choices getting locked in. The not so funny thing about Brexit is that it's like a game of chicken: the market doesn't believe Britain will choose drive off the cliff edge, so it hasn't priced in the damage; but that lack of pricing information makes it more likely Britain will drive off the edge.
It's one situation where markets might ironically be ill-suited to judge because of feedback effects. The worse the outcome, the less likely the market is to believe it, which sustains the delusion that it won't be bad.