I Think the Pound Is Thinking About That, and It's an Extraordinarily Difficult Situation.

When i saw the emerging plan, it reminded me of standard latin american populis approaches. And those policies often have not worked out well at all for those who implemented them. And so it seems a very dangerous course. Now i think we ought to give the british authorities an opportunity to explain the rational for their policy. But a policy of tax cutting, avoiding taxation of windfall profits, subsidizing consumers for a low priced a energy in the face of a nearly unlimited potential liability raises serious and severe arithmetic questions.