The pound is seeing across the board weakness against the other majors. The recent announcement of a huge banking rescue plan and a subsequent 50 bps rate cut by the Old Lady have done nothing to arrest the slide in U.K. stocks with the FTSE 100 finishing down 52.89 points (or 1.21%) today. The real economy looks horrible. Almost every economic data release confirms Old Blighty is headed into recession and most probably a deep recession. U.K. banks just don’t want to lend to businesses. Bankruptcies are set to go through the roof. Unemployment is set to soar. Tax revenues will plummet. Will the last one out the door please turn out the lights!!! Hysterical, moi?