Friday, June 24, 2016

England's Slide into the Financial Toilet

The British pound tanked almost immediately on the impression England will leave the European Union and Boris Johnson can sure be proud of that.  The day-by-day report isn't all that interesting but this chart of the value of the British pound has been steadily falling for two years and today's effort worked swimmingly toward further drowning the currency.




This is funny stuff because we have been watching the Clockwork Orange developing for years and the richies thought they could control the soccer hooligans but it turned out the other way around and now it's costing them money.  Maybe trying to tax the bedrooms in which they hoped to stay was just a wee bit much.  Marie Antoinette said let them eat cake but David Cameron said let them sleep on the sidewalk.  Now they rise up to tell him to stick it.  What a surprise.

(Ed:  Marie Antoinette didn't say that)

Nope but David Cameron has said it with everything short of a highway billboard.

No comments: