“Just listened to your seconded conversation with Whitney, that yielded this gem summing up of the UK’s predicament -
[Whitney: I think the UK…and I think this is probably purely a coincidence, I can’t think of any fundamental reason why this would be the case, but I think that the UK has been on the leading edge of every adverse policy development that has happened globally in the last 12 years. Like, they were the first ones to do all sorts of, you know, easing measures into the financial crisis. The Brexit was sort of, you know, a preamble of the Trump. Broad advent of populism and populist policies. And then now the fiscal easing into a balance of payments crisis is just very Brazil like 2014. Right? The UK I think is demonstrating what it’s going to be like for countries running huge twin deficits in the environment of contracting global liquidity that, you know, there’s no longer any structural bid for their assets. That’s just the archetype that they’re facing. And it’s a very EM-style archetype.]
A warning to others about complacency and populism in a democracy and economy.”
cassian88 via Apple Podcasts ·
Great Britain ·
11/11/22