Loading ...$XBP Quarterly Imperfect H&S Pattern Price Target ~ 80
Developing countries that suffer currency crises have 4 common macroeconomic characteristics:
- High debt-to-GDP ratio.
- Large fiscal deficit.
- Large Balance of Payments deficit.
- Relatively small FX reserves.
The UK economy ticks all these boxes.
“You may say I’m a dreamer, but I’m not the only one.”
Good info.
UK is a larger basket case than many yet have realized I think. Down the road I would not be surprised if PIIGS is pronounced PIIGSU.
The Baby Boomer demographic was born, roughly, between 1945 and 1965, which means they began retiring in 2005 and will continue retiring up until
roughly 2030. All the taxes they paid during their working lives, politicians have already spent. The healthcare and pensions they have been
promised are to be paid from taxes levied on the current workforce.
The UK is already bankrupt, as is Ireland (owing to bank bailouts killing their debt-to-GDP), France, Spain, Portugal and Italy.
I’m a Brit, born and raised, and I’m emigrating ASAP – It’s always best to get when the getting’s good.