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UK Plc is fubared
Former Member
Posts: 1,876,323 The Mix Honorary Guru
Story.
And we have more debt per capita than the US, who are already flying into a recession with a huge housing bust and a financial meltdown in the credit markets.....with no more oil exports and more rate cuts on the way the pound is toast, looks like 2008 is shaping up to be a rough year for the global economy.
And we have more debt per capita than the US, who are already flying into a recession with a huge housing bust and a financial meltdown in the credit markets.....with no more oil exports and more rate cuts on the way the pound is toast, looks like 2008 is shaping up to be a rough year for the global economy.
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Vietnam War - followed by recession early 1970s
Gulf War - followed by recession early 1990s
Iraq/Afghanistan Wars :chin:
I'm sure I'm just being horribly simplistic...
no i know a currency is fucked when the economy is fucked. interest rate differential was the only thing drawing currency speculators in on the assumption we were in a raising cycle, now the economy is slowing down inflation is not the main concern, BoE will keep cutting rates and the pound has a long way down to go.