England is experiencing an "economic crisis" according to some. Across the board tax cuts are, in some people's minds, the reason for the crisis. The tax cuts will lead to deficits which in turn will lead to inflation.
Is it me or are the same people warning that government deficits in the UK will lead to inflation the same folks who were cheerleaders to the Biden Administration's huge deficits? Which coupled with the printing of trillions of dollars backed by nothing and ignorant energy policies has led to inflation.
Inflation is real across the globe but the root causes, according to corporate media, changes from day to day.
The pound , the euro and dollar as well as the Swiss franc are almost exactly equal. How this comes about is beyond my understanding. It is good if you plan to go to Europe, I suppose.
ReplyDeleteIt's all a plot on behalf of Big Tourism I tells ya!
ReplyDeleteBack in the 70s, Jimmy Carter was buying US dollars to stabilize the dollar. It was millions, if not billions. The currency traders laughed at such a small effort. Here is why:
ReplyDelete" The foreign exchange market is a global online network where traders buy and sell currencies. It has no physical location and operates 24 hours a day from 5 p.m. EST on Sunday until 4 p.m. EST on Friday because currencies are in high demand. It sets the exchange rates for currencies with floating rates.
The Forex market has an estimated turnover of $6.6 trillion a day.1 It is the largest and most liquid financial market in the world. Demand and supply determine the differences in exchange rates, which in turn, determine traders’ profits. "