the dirty little graphic that tells the euro tale

:

superb paul gerbil post
on this btw

includes this on britain  down and deep down into its post great war golden  cups:

"Modern estimates (pdf) suggest
that Britain returned to the gold standard
 with a currency overvalued by around 20 percent;
 it also did so with a large debt from World War I.
 It proceeded to pursue a policy of harsh fiscal austerity
 — primary surpluses around 7 percent of GDP —
and internal devaluation through deflation.

... it not only suffered prolonged stagnation,
it failed even to make a dent in the debt overhang:"

 

couldn't have happened to better national choice

then the ailing senile dreadfully gay

                                                  global hegemon

 

 

 

i know

 

we're next

 

but i'll be long dead