people spending1 Jul 2016 13:15
is sort of the problem lol...we (and the US) spend and the rest of the world produces
...that has held huge current account deficits in place for decades for uk...but now? Is this ref debacle the abrupt turning point?
..for decades, fx markets ignored current account deficits: in global capital swill, who cares?? BUT..if investors/traders now go all retro then the uk (and perhaps the US later) may be in for a v v v v unpleasant shock...similar to the 1970s imv