SA, I'm not sure why you said "and calling what we're in now a recession". I didn't say that, and clearly we are not (globally) by the conventional measure. I mentioned recessions as normal and inevitably we will have one. Regression to the mean is normal in nature and it is normal in financial markets. Perfection is impossible so there are overshoots and undershoots along the way.
Fiat is failing? I'm puzzled, this doesn't look a failure, perhaps you have a crystal ball and know the future. Note the chart is global - some seemed to miss this point earlier when drawing an immediate comparison of debt to US.
You are right about the UK (UK is exiting, Britain or more accurately Great Britain is a subset of the UK) I didn't see the possibility of leaving the EU coming and I don't agree with it. Being a UK citizen I have a right to an opinion on the matter.
