Thread by @shortl2021

1/10. Tweeted recently on how economic mood in UK is almost suicidal. The journalist @KuperSimon, writing in the FT Weekend Magazine, puts it well (& not good news for Apple):

"Even the British term "omnishambles" cannot capture the current despair....."
ft.com/content/3c2b41…

2/10. "....Energy bills will rise 80% next month, real wages are lower than in 2007, foreign investment has evaporated since 2016, the trade deficit is the worst on record and the Bank of England predicts a recession lasting more than a year...."

3/10. "....Given southern Italian levels of productivity outside London and the UK's self-exile from the world's largest free-trade zone, Britain's regions have no obvious long-term economic strategy beyond flogging national heritage to foreigners."

4/10. Later, and I think this critical to the Conservative Party's future fortunes:

"Now inject Truss (incoming PM) into the mix. Like most Tory leaders, she has pitched her appeal to well-off people who want tax cuts. That works electorally when such people abound,...."

5/10. "....but Britain is currently following Argentina's descent from a predominantly middle-class nation into a predominantly precarious one."

6/10. Perhaps stylist hyperbole? But I have my fears. The UK economy over the last 30 years has been built on blowing, with government encouragement, ever-more-absurd housing bubbles;....

7/10. .....making London the globe's hyper-financialization hedge fund capital of the world & the "go to" hideaway for every oligarch and despot's dodgy money; and debt-induced household over consumption.

8/10. While the composition of the UK's exposure to the post #GBB (Great Bubble Bust) may be unique, continental economies have hardly less exposure even if their factor mix is different.

9/10. Nonetheless, while the "everything bubble" is popping before your eyes, sell-side analysts see Apple's 60% of overseas revenue as being immune to such apocalyptic outcomes.

10/10. Brits are supposed to traipse off to Apple's UK flagship store on Regent Street, Germans to the Schildergasse, French to Champs-Élysées, Italians to Via del Corso & Spanish to Puerta del Sol--and all like sheep will buy the iPhone 14. WTF! Wake up! No they won't!