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The flash-crash is just the beginning of the pound's decline — it's going to get so much worse

The pound's flash crash early on Friday morning — where it suddenly dropped 6% in two minutes for no obvious reason — is just the beginning. It is going to get so much worse. Most people in Britain have no clue. They think things are going great! We've got full employment, low inflation, and the dip in sterling since the June Brexit vote has boosted our exports. Recent macro data on services, manufacturing and retail sales show the economy is in good shape.
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