Here comes the currency collapse

**xoggoth** · 21 September 2009, 09:40

In its quarterly bulletin, the Bank of England noted that the UK had run current account deficits for more than a decade

"more than a decade" eh? Wonder why that is?

**sasguru** · 21 September 2009, 09:51

The outside world is realising that Uk plc is a busted flush.
For too long the country has (literally) traded on its past reputation.
There is a long overdue catch-up coming soon and then we are all going to have to reassess the whole house of cards.

**mace** · 21 September 2009, 10:01

Originally posted by xoggoth View Post

"more than a decade" eh? Wonder why that is?

Scroll down (a long way)

https://www.cia.gov/library/publicat.../2187rank.html

**sasguru** · 21 September 2009, 10:08

Originally posted by mace View Post

Scroll down (a long way)

https://www.cia.gov/library/publicat.../2187rank.html

We are so used to the US being so much in hock that we have got used to it. And most people think that's sustainable.
But what if it isn't and we find out in a dramatic way in the not too distant future?
Because one lesson we should have learnt is that no one knows Jack tulip about how the new globalised economy works.

**TimberWolf** · 21 September 2009, 10:15

Originally posted by sasguru View Post

We are so used to the US being so much in hock that we have got used to it. And most people think that's sustainable.
But what if it isn't and we find out in a dramatic way in the not too distant future?
Because one lesson we should have learnt is that no one knows Jack tulip about how the new globalised economy works.

The US has vast natural resources and a lowish population density though. We've used all ours up and all we make is babies.

**Sysman** · 21 September 2009, 10:23

Originally posted by mace View Post

Scroll down (a long way)

https://www.cia.gov/library/publicat.../2187rank.html

Germany at No. 2, with Norway and Holland also in the top 7.

**chef** · 21 September 2009, 10:33

Originally posted by Sysman View Post

Germany at No. 2, with Norway and Holland also in the top 7.

resident, live and work

the little debt I have is in GBP

**VectraMan** · 21 September 2009, 10:52

Thank God we didn't join the Euro back when it was ~1.6 Euros to the pound. We'd be really screwed now if we had.

**lilelvis2000** · 21 September 2009, 10:54

Just makes all my Canadian cash more valuable! mwahahahaha

Here comes the currency collapse