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wherebee

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So - I am confused as to why the pound is still holding up when the fundamentals are so utterly shite. What am I missing?

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It's all relative though. Europe, China, Australia. BRICS. All have worse fundamentals. Aside from property prices, UK can only go up from here.

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You watch the UK and know what the problems are here, everywhere you look countries are going through problems.

I dont think ours are as bad as the media has brainwashed us to believe.

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The humongous current account deficit is balanced out by an equally huge capital account surplus. We are borrowing money from abroad and selling assets (London property anyone, or government bonds for that matter?). Once the flow of hot money from abroad stops, sterling will go tits up despite the higher interest rates that we'll have as that point.

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All interesting stuff - thanks all. I still have a mental image of the pound as a Wylie Coyote in mid air, legs a pumping. Maybe I'm just wrong.

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