Friday, 1 October 2010

it is the race to the bottom...

Finally some experts and insiders are taking this currency war for what it is, a race for cheap labour and a war on jobs! From 2:45 it starts to become interesting - but you read most of the arguments earlier in this blog.

It is a matter of time, only, until the Pound will be effected. Latest when one of the PIIGS fails or Germany can't sign the next cheque it will become dramatic, really volatile and totally unpredictable. Of course, they will try to delay this as long as possible because once they fail German export will be collapsing. The big players have taken all precautions possible, the rest will have to shrink and fight for survival.

Carpe diem!