For the past 25 years the UK’s economy has relatively flatlined, and now wealthy are packing their bags.
Here’s what happened:
And, as a global world power, the Pound-Sterling pretty much disappeared at the advent of the petro-dollar. US Treasuries became insurance, and the US dollar rapidly expanded as the world’s global reserve currency.
In order to compensate for their currencies loss of purchasing power in the global market the UK started to eat itself internally. Following the US Dollar, they had devalued their dollar, increasing deficit spending in peacetime as if it were wartime. Deficit spending only increased after the US Great…
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