Saturday, 30 August 2008
A prediction for Monday morning
The £ and the FTSE will drop like stones on Monday morning, following Alistair Darling's belated admission that the UK economy is is serious trouble. I predict that the FTSE will open down over a hundred points and fall further. I also predict that Sterling will fall below 1.75 against the US Dollar and 1.20 against the Euro on Monday. The UK economy is well and truly fucked, thanks to Gordon Brown's economic ineptitude, and it is going to be a very nasty, painful and long journey back from this.