The UK economy is not looking good at the moment, and improvement does not seem to be around the corner either. 

As CNBC recently put it…

The British pound’s exchange rate against the U.S. dollar as been on a rollercoaster ride in recent months. After a year of steady decline, it plunged to an all-time low beneath $1.10 after the U.K. government’s infamous “mini budget” in late September. It then recovered to $1.16 after the country swapped its finance and prime ministers in late October; and sank to $1.11 after the Bank of England downplayed rate hike expectations and warned the U.K. had already begun its longest-ever recession on Nov. 3.

And that’s only the beginning. In the video, Cold Fusion goes for a deeper dive on how this disaster came to be, and why government’s abandonment of economic fundamentals has been absolutely fatal. Watch: 

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