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The devaluation is a defensible policy, in many situations a proper vehicle to protect common folk from economic shock. There is a world of difference between loosing 20% of your income and losing your job.

The problem here is the widening of the trade deficit at the same time. This means Sterling is not venting all the pressure building in the system.

You might find me At The Edge Of Time.

by Luis de Sousa (luis[dot]a[dot]de[dot]sousa[at]gmail[dot]com) on Mon Aug 21st, 2017 at 01:10:37 PM EST
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