Saturday, October 25, 2008

Sterling work?

Would sterling have suffered it's biggest devaluation in 41 years if Gordon Brown's economic policies had been more prudent!?!

PS Why has the BBC overlooked the devaluation? Is it inconsistent with it's view of a global financial crisis!?!

3 comments:

Mark Wadsworth said...

Good point.

Against a basket of major currencies, GBP's fall over the past 12 months is about the same as (possibly a bit more than) the fall in the days/weeks after Black Wednesday aka White Wednesday.

Of course what both falls have in common is that The Tories are to blame, of course. And if not them then the USA, or greedy bankers, or reckless borrowers, or something.

xoggoth said...

There are bright sides. I was trying to get a small amount of pension out at start of the year and then got caught by the crash. I was amazed to get a recent valuation that shows it has only dropped about 8%, mostly cos a lot of it is invested abroad I think.

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