Gordon Brown blames the credit crunch on America and says Britain is best placed for recovery and that he has saved the world.
Take a look at this graph from Yahoo Finance . Call me cynical but doesn't a falling Pound mean that the rest of the world is losing confidence in it?
And here's another one from Yahoo Finance showing the Pound's collapse against the Euro. Looks like a converging trend to me.
The good news is that sterling is maintaining its parity against - see Yahoo Finance again - the Zimbabwe Dollar.
3 comments:
I think a vote of no confidence in Brown is not to be long delayed. There seems to be a feeling that he will call a snap election in the new year but I doubt it. I think that things will have deteriorated so much by late February/early March that a vote of (no)confidence will be unavoidable.
Strangely, this is helping me just now although I do decry it in principle.
James, As the only principle worth following after the misrule of Blair and Brown is every man for himself, I don't blame you - besides I'm thinking of pricing my items on Ebay in euros as a hedge against further falls. Old Holborn has an interesting piece:
http://bastardoldholborn.blogspot.com/2008/12/you-should-be-so-lucky.html
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