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New thread on the #SecondGFC follows.
So Moody’s has downgraded the UK as a “warning sign” re the volatility of £ & UK politics. One of the rating agencies that awarded top grades to junk bonds etc in the #GFC. A 100 yrs ago Moody himself gave the UK our now lost top rating. How times change. C/f £⬇️ since then.
Clearly governments were in charge of the markets then. And now, shockingly, markets seem to be in charge of governments! The “markets” are warning the UK to appoint the right finance minister and maybe PM. [lunch beckons, more to follow]
