I think I finally understand why the pound is falling so badly and, even when the whole world is in recession, people are particularly "shorting" Britain. As I read more and more American articles on the current financial collapse they all seem to be saying the same thing: the old financial system was a house of cards, and it's not going to come back. What will rise in its place is something very much smaller and less ambitious - and far less profitable.
Britain, of course, allowed its manufacturing sector to run down while it concentrated on growing its financial sector. Britain is fucked.
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