Welcome back - great article. The Brits know they screwed up huge and they are going to have to try hard to hold their water in order to back out of this mess somehow. A new normal will evolve out of this, for sure. I think it will be better, but lots of pain for some first. All this is just massively deflationary. Still I kind of like where we are at, in a perverse way. But we are back to being a lot closer to the cliffs edge here in Greece than what I am comfortable with.
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