The UK stocks poised for gold

ON UK GROWTH

In the UK, as a function of having autonomous response to our predicament, the cost of debt remains low.

Eventually, however, something will need to give but in the meantime we limp on with low growth, a lack of confidence in our financial institutions and government, which are stuck between a rock and a hard place. This diagnosis is depressing but things could have been a lot worse if we had joined the euro and there is also a chance, like the Olympics, that we may achieve an unexpectedly successful outcome. The UK bears a number of long standing advantages that leave us comparatively well positioned at a time when fundamental competitive differentials are a significant cause of the cur...