06 May 2016

Money For Nothing, and the Checks Don't Clear -- Update

Not being Brit, I've not been following reporting from there or Europe, only seeing stuff that passes my eyeballs. Trump's recommendation did pass by.

Consider the British economy. It's mostly finance, even more so than the USofA, and most of it is tied to the EU countries. Since there's not much to finance, the EU will cut off the Brits in a heartbeat. Be careful what you wish for.

Separately, the newest member of the Bank of England's monetary policy committee (MPC) said that the central bank might have to raise its benchmark rate to 3.5% within 18 months in the event of a "Brexit." The official, Michael Saunders, noted that imported inflation would soar as the pound collapsed.
-- briefing.com 11 May 2016

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