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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:
GBP
Discuss GBP
@Forum: More generally on the UK/GBP, Moneyweek is having a blast at QE & central banks:
http://www.moneyweek.com/news-and-charts/economics/money-morning-central-banks-bubble-01806.aspx
[BTW, I'm not necessarily endorsing their conclusions; interesting analysis though].
We have the same with irrational markets. Not the markets are irrational but the model of market is irrational.
If by "vote" you are talking about referendums....well, UK politicians hate referendums. They trust the electorate even less than they trust each other....the electorate might come up with the "wrong" answer, so I don't see one in the foreseeable future. It is simply not on the agenda these days.
Interesting points about bank debt. (Needless to say, not mentioned in the election campaign :) ).
@Dodger: "Club Med" - LOL! :-)))
So a monetary union EUR new /GBP is not a bad idea. A reverse split of debt.
Dima
I mean those who could vote voted against and believe it or not there are, in every administration, at least two who are capable of drawing simple conclusions from sufficiently simple events... so no vote in UK.
Now take a close look at UK gilt yields. What do you see? A miracle? Don't tell me it has anything to do
with polls for election
There is absolutely no way that any of our current politicians would enter the Euro, mark I or mark II.
If you read the UK commentators, they are saying, "yes, we are in the dickens of a mess - don't know how to fill the deficit - but, thank heavens at least we are not in the Euro ....".
But just say, what if: No way we can compete with Germany in industrial/export terms (would be could if we could at least attempt to). If we could pull it off, it would be good, but probably, it would just end in tears, from a UK-centric point of view.