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Originally posted by Silver Shadow
So what makes you think whatever happens in Britain has the slightest effect upon America ?
It would be more believable that the entire world economy hangs on the price of coconuts in Fiji.
The future events I see are these.
- UK PM Gordo Brown will not cut spending.
- In late March, to try to be re-elected, he will hold a "Give away" budget.
- Sterling panic and UK Government intervention in the markets.
-- Likely downgrading of UK bonds.
- FIasco in the sale of Government stock for re-financing.
- UK Bonds plunge.
- UK Markets plunge triggering worldwide crash.
- US economists "taken by surprise"
- UK Election called.
- One or more banks in deep difficulty. Pension funds collapse.
- Gordo bails out more banks, pension funds, insurance companies with more state cash he does not have.
- Further run on sterling and UK Government stock.
- Finance for private companies becomes almost impossible.
- UNemployment skyrockets.
- Protests at newly unemployed and people who have lost pensions become violent.
- Refinancing becomes almost impossible for UK and US