The government here is a total joke, it looks like they’re changing prime minister (again) soon so we don’t even know what the economic policy is going to look like.
One way to look at the UK economy is that it is currently based on speculation – speculation financed by the Bank of England, which engaged in a 26 year orgy of purchases of Treasury bonds, pushing down the real interest rates – to 0 % or less.
And now holds those as assets that are wildly devalued over the last year.
Of course, the losses are only paper losses.
But the UK central state will now have to find another source of financing. Maybe.
More like world recession.
Should get Boris back. He can fix it all. He will buy 20 more red buses, so he can promise more money.
The recession is already here, and it’s going to feel like the Great Depression once markets crash, and everyone’s savings gets destroyed.
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The government here is a total joke, it looks like they’re changing prime minister (again) soon so we don’t even know what the economic policy is going to look like.
One way to look at the UK economy is that it is currently based on speculation – speculation financed by the Bank of England, which engaged in a 26 year orgy of purchases of Treasury bonds, pushing down the real interest rates – to 0 % or less.
And now holds those as assets that are wildly devalued over the last year.
Of course, the losses are only paper losses.
But the UK central state will now have to find another source of financing. Maybe.
More like world recession.
Should get Boris back. He can fix it all. He will buy 20 more red buses, so he can promise more money.
The recession is already here, and it’s going to feel like the Great Depression once markets crash, and everyone’s savings gets destroyed.