The Asset Allocator: Pound Headed Toward Parity With The Dollar

The pound’s dismally low level suggests that the UK is in financial crisis. Realize though that Brexit hasn’t occurred; it’s uncertainty over Brexit that is killing the British economy.This podcast (4:49) argues that Brexit is actually not inherently bad for the British economy; the big mistake was rather the failure to simultaneously create a low-tax, high-growth business haven along Europe’s border. Investors should expect a long-term devaluation of British assets.Learn more about your ad choices. Visit megaphone.fm/adchoices