Gordonomics in action.

First up, the markets have already removed the Triple-A rating on UK government debt.

British government debt is already trading at prices that suggest it has lost its prized top credit rating, heightening concerns that investors already view gilts as less than triple A-rated assets and demand greater rewards for holding them.

Since the end of November, the gap between the interest rate Britain and Germany must pay on 10-year government debt has risen from 0.35 percentage points to 0.9 points.

Then the pound has just fallen through the psychologically important €0.90 cents to the pound level, how long before the we have parity between the £/€?

Time to remind Gordoom of his own words

“A weak currency arises from a weak economy which in turn is the result of a weak Government.”

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