The devaluation after brexit is no larger than the one after the financial crisis in 2008. In fact it's probably smaller I think. Inflation rose to 5% approx fr

The devaluation after brexit is no larger than the one after the financial crisis in 2008. In fact it's probably smaller I think. Inflation rose to 5% approx from a base level of around 2% and that's with oil being considerably higher than it is now. So your prediction of "The consequences are predictable - prices rise, inflation rises, the cycle repeats, and eventually the economy breaks down altogether after sovereign default becomes a real threat." didn't happen then, it likely won't happen now. Why? Because inflation due to currency fluctuations is different to the type of inflation caused by an economy overheating. Hell the bank of england has been printing money for 5 years and if that didn't cause runaway inflation I don't see how the pound weakning somewhat is going too.