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No the fall of sterling is not the end of the world!

 I mean, it says something about the country, but it is something that has been true for a few years now, it's just that our chickens are coming home to roost, and we only have ourselves to blame.  On the bright side, the country borrows mostly in its own currency, which it controls, the cost of future borrowing will rise, but it's the reality of living in a country that has told its neighbours to "fu$k off". 

Whenever we go out I get taken to task for having worked in the City (aka the financial district), as if it was our fault that consecutive government took the easy road, and voters elected them.   Right now Labour is being blamed for the whole mess, granted they were largely silent during the whole vote for Brexit because it fitted their "plan" to restrict the flow of labour (don't ask but there were some serious morons in that party -- the Conservative did not have a monopoly on idiots).   

So the UK is once again forced to face the reality that it not only cut access to the European market but did so for some of our most important export sectors (BTW 90% of the City was against Brexit).  The automobile sector is a small fraction of what it was a decade ago.

Making a choice carries consequences, and it takes time for these consequences to fully emerge, it's like a football team that suddenly stops working on new talent and can cut costs.  It takes a few years, but eventually, it hurts the organization where it counts -- winning! 

However, and this is the key, in this changing world depending on the export market is a flawed strategy.   In 2025, the UK's single largest export market is the US, and it has a small trading deficit with the Americans, right now that's good.   I would rather live in the UK than Germany which is far more dependent on exports and has a massive trade deficit with the rest of Europe and the World.   

This is the beginning of a new world order, and it has been going on for a decade already, the Americans are withdrawing from the world (aside from the dumb stuff -- don't worry it's all talk).


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