FINANCIERS SLAM U.K.: You've heard of banana republics, but what about a banana monarchy? Moderator Susan Li, from Fox Business, was moved to ask on Milken's main stage if the U.K. remains investable, following the market and currency routs that have greeted the country's recent mini-budget.
Asked if Britain was becoming erratic and more like an emerging market, Gardner did not hesitate: âThat would be an insult to emerging markets.â He added that while Britain isnât in control of some factors dragging its economy down, like Russia-driven energy shocks, it's making a mess of what it does control: âBrexit is a significant damage to the long-term prospects of the U.K.â
A senior economist at a panel moderated by Global Insider lamented that the British cabinet appeared to be âlosing its mind.â The Economist magazine is running a section this week on the actions of Prime Minister Liz Trussâ team: âHow not to run a country.â
The newly elected prime minister in the U.K.is a real piece of work. It is fascinating to see such self-loathing economic policy at work.
American economist Larry Summers was quoted as saying:
âIt makes me very sorry to say, but I think the U.K. is behaving a bit like an emerging market turning itself into a submerging market."
To me, it looks like British voters want to try on grass skirts and move to stylish thatched roof huts. Apologies for being so politically incorrect. In an emerging market or poor developed country where these kinds of "get something for nothing" policies are implemented, real people starve.
Don't worry about the British; they will simply be a little hungry and very cold this coming winter. Their material standard of living will take years to recover.
She was obviously very sharp.... but I find most Brits have that biting, quick sense of humor. They aren't quite as PC as we are... take things a bit less seriously.
They also have a quality of stoicism I imagine Americans don't.
I am always agog about how someone (the Queen) can be presented with that situation and handle it with just the perfect amount of restraint. Wouldn't most of us just really laid it on thick until he figured it out? Just to see the reaction?
She was obviously very sharp.... but I find most Brits have that biting, quick sense of humor. They aren't quite as PC as we are... take things a bit less seriously.
I am always agog about how someone (the Queen) can be presented with that situation and handle it with just the perfect amount of restraint. Wouldn't most of us just really laid it on thick until he figured it out? Just to see the reaction?
It just occurred to me that they'll have to change the money in the UK, Australia, Canada, New Zealand, Trinidad, Bahamas, Belize, etc. to have the picture of Charles (possibly to be known as Phillip or Arthur) on it.
It will be Charles III, and the Bank announced that any bills with the Queen's image will still be valid.
It just occurred to me that they'll have to change the money in the UK, Australia, Canada, New Zealand, Trinidad, Bahamas, Belize, etc. to have the picture of Charles (possibly to be known as Phillip or Arthur) on it.
dunno about the other nations, but here are our current notes:
