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Cartoon: Fat Cat cradle

When the markets think we look in serious economic trouble as a country, the value of the pound in your pocket declines. (link via Reuters). This view is currently being taken because of the extent of the borrowing the government is taking on to try and prop up the banking sector. We are all going to be tangled up in this debt. Citywire has a line on why the pound is declining in value against the dollar – it’s the flight to safety theory (biggest is safest). So, let’s hope no one starts asking if the US can pay their debts.

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