I dunno Rae, I think this is some short term panic. Economies, like water, tend (not always) to seek their own level. I think the short term losses on the various markets will be made good by next week, and as for the Pound? I would not be surprised if it settles somewhere between $1.40 and $1.50. Not as good as before, but survivable and it will do the British export market some favors.
Thing I am more worried about? How bad does the Rio Olympics wind up..everything that can go wrong in Brasil, short of a terror attack or natural disaster, has. I know they cannot call it off, but it's really become a international embarrassment for Brasil.
|