@WilfredFrost Unless there is a recession and with everything that’s going on now…. Unemployment is a long cycle and it’s just taken off, ask anyone just out of university.
@LiamHalligan This is so similar to the run up to the 1976 £ crisis. Inflation shock (Covid) then the tories overspend and get replaced by Labour who continue overspending and raise taxes to 98% (wealth tax) and brain drain and then £ falls 30% and Healey applies to the IMF for a loan.
@MerrynSW Why do people think the UK is a major influence in the world anymore. We are 0.5% of global population and c1% of global GDP. We don’t make anything and are bankrupt. If we disappeared tomorrow no one would notice.
@notayesmansecon So an inflation shock is being supported by more spending! Perhaps the 10 year yield has to break above 5% before £ collapses and reality comes home to roost. It’s a rerun of the 1976 £ crisis which lead to the IMF bailout.