Brexit Was Inevitable And Economic Impacts Could Look Like The Suez Failure |
| June 28, 2016 | June 2016 Bond Updates |
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The UK recovery had to end exactly like this, exactly like so many of its post-war expansions -- with the currency plummeting. No economy can forever expand with its current account deficit exploding while its currency’s foreign exchange value remains effectively fixed. The internal dynamics of this mix will, every time, hollow out the tradable goods sector of the economy and suppress the price of labor. |
| View more at: http://www.forbes.com/sites/stevenblitz/2016/06/27/and-now-for-something-completely-different-suez-again/ |
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