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which is a very old problem in monetary economics - ie how to decouple from the global reserve

our context is different

but we dont need the same monetary policy as the US

this is a rear guard action, we're playing catch up

well we might ultimately, but thats going to hurt a lot and we dont know where we need to be

it looks like this

they're the relative return on a particular currency. when the fed raises rates, they raise the relative return on the dollar making it v attractive vs other currencies, hence why the dollar is appreciating vs every other currency, which is a problem when your financial system is financed with...

that's more of a problem than lizz truss's shity budget

the fed raised interest rates higher than everyone else and this is breaking everything

I understand it obviously, but no one else does

no one does bbz it's a shit show

origin of modernity

but that's his solution to everything!

also due to "exorbitant privilege" we need some kind of coordination bw central banks, current set up is a recipe for disaster

this insane global ping pong between too loose and too tight has to end. monetary policy alone cant solve the inflation problem when the cause isnt excess demand but supply bottle-necks in the energy market, so stop yanking on the lever like a crazy person

i think it goes without saying but the tax cuts for bankers are unjustifiable and heinous and the truss govt is about as tone def as it's possible to be, however, unfortunately, we have bigger problems

across the globe central banks are tightening in response to inflation caused in the main by energy and food price shocks, which cannot be ameliorate by raising interest rates. this tightening is causing a massive appreciation in the dollar and a global sell-off of non-dollar assets in response...

Well they obviously havent covered themselves in glory, but if you want to know why your team lost, blaming the super sub isnt really an adequate explanation.

that's the question surely

why is the UK such an ongoing disaster