The Collapse of the Pound
Alex - the greedy bank featured in the Torygraph Newspaper in the UK is pointing out a painful truth: As Buffett
say, when the tide goes out, you discover who has swimming trunks on.
The UK economy - living of an overheated housing market and Financial Services income - both who
have past their high water mark for this cycle - has no swimming trunks. Hence the collapse of the £.
Bad news for us when we go on holiday abroad, but good for TK and QMC Instruments' exports. We are
less expensive now...
The Pound has now fallen further since these Nov graphs were plotted.