George Soros writes on the path he sees playing out on Brexit
- Economic reality is beginning to catch up with the false hopes of many Britons
- Wage growth in Britain is not keeping up with inflation ... real incomes have begun to fall ... households will soon realize that their living standards are falling ... that they have become over-indebted and will have to deleverage ... the BoE has made the same mistake as the average household: it underestimated the impact of inflation and will now be catching up by raising interest rates in a pro-cyclical manner
- The British are fast approaching the tipping point that characterizes all unsustainable economic trends
- It May wants to remain in power, she must change her approach to the Brexit negotiations ... there are signs that she is prepared to do so. ... If May embraces such a platform ... Brexit would still take at least five years to complete, during which time new elections would take place. If all went well, the two parties might want to remarry even before they have divorced.
Soros is anti-Brexit, so is he just talking his book or is he onto something?
