An article in the Telegraph (referred to by today's Daily Reckoning) says that the pound sterling could drop about 14% against the dollar by 2009.
Which one is the basket case economy?
Friday, October 05, 2007
8 comments:
Unfortunately, because of a plague of spam comments, you need to be a "registered user", otherwise your observations will be buried in a torrent of multilingual nonsense. Please do comment!
Say what you please, so long as it's phrased politely and is not libellous or legally proscribed. Fact, reason and wit are keenly welcomed.
er....US is in a far worse place than we are. I don't see that the UK has the same issue at all with it structural deficeit.
ReplyDeletepound
ReplyDeleteI would not say basket case - yet. But the British economy is going to be more susceptible to a recession because of the gigantic national and personal debt.
ReplyDeleteCredit has fuelled our supposed stability through consumer activity and there is nothing put away for a rainy day.
Brown has squandered the opportunity to build on the Conservative economic legacy and make the economy robust.
CU: so I understand. But the US is so big and so indebted that it may have certain unscrupulous options that we couldn't exercise.
ReplyDeleteACO: your comment is crisp, as ever. I would be most interested to see a post on your blog, so I could see your views in depth. But perhaps business is going too well to permit you the time?
Tony: welcome! A propos the "Scotsman with a grievance", do you think Cameron put up such a good show partly in order to deter Gordon from going for an election now, so that there will be time for the ex-Chancellor's chickens to come home to roost?
CUS - your comment is truly puzzling. Tony is closer to it in that the fall of the pound is very much interwoven with global markets and the clubbability of the CBs.
ReplyDeletePound; I removed to Euros in the early summer, then I wanted it all invested in German industry. But Mr HG paid off bills. However he has does have regard for my emotional approach to financial arrangements,
ReplyDelete'I have a high respect for your nerves. They are my old friends. I have heard you mention them with consideration these twenty years at least.' Or perhaps that was another husband?
Well, at least there are no pounds and no debt, which is more than can be said for the UK.
Sackerson, where are you, old chap?
ReplyDeleteApologies for the radio silence, have been trying to earn a living and look after the aged.
ReplyDeleteIn spare moments, I've been adding a few comments for fellow bloggers. Newmania has been floating the idea of a multi-blogger magazine - great idea, but he's got other commitments too.
As far as the theme of Bearwatch is concerned, I think we're in a waiting period before the next storm. I do have things to say and a couple of overdue book reviews, but time, time!