A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. The British pound hit a record low against the dollar on Monday after UK Prime Minister Liz Truss, a fan of “trickle-down economics,” announced a sweeping spending and tax cut plan to rescue the British economy from recession on Friday.
“Investors are rapidly pulling out of UK assets, and who can blame them?” What the pound’s crash means for inflation and interest rates We know the British pound is falling against the dollar, but what does that mean exactly? A falling pound is dire news for an economy that may already be in recession, reports my colleague Julia Horowitz. As the value of sterling falls, it becomes more expensive to import essential goods typically paid for in US dollars like food and fuel.
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The Biggest Problem with Taxing a Government's Constituency is Wasteful Government's Spending! The Federal Government of The United States should Only be Concerned with National Defense. Leave everything else to the States!
It’s ok. The Tories are just hoping real hard.
And America’s poor and middle class have paid the price for 40 yrs.
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