Its very difficult to find anyone as sane as this former member of Reagan’s staff talking about the UK economy. We look like a smaller version of the USA, other than on financial sector debt and military spending.
Most people just want to bury their heads in the sand and hope interesting economic times go away. My guess is they won’t and Cyprus is just the start of a wider wealth snatch – that is the ‘Plan B’ they are hiding from us is very scary indeed. We don’t know what has happened in Cyprus yet, but I’d bet the only people who end up paying will be local people and EU taxpayers – the hot money will be long gone. Here, we will find any solid financial assets going to Cayman and pensions and property sequestered.