Reality is biting back at markets

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The economy is reflecting the state of chaos in the government.

Real and nominal wage growth is declining again:

Retail sales growth is unsurprisingly depressed.

The pound has fallen below $1.30 this morning.

Beyond the UK, the Fed is having problems making the idea of interest rate rises stick.

They're just a banking fantasist's pipe dream here.

And the FTSE 100 sales on at near record highs:

The markets are trying to ignore reality.

Reality is biting back.

And its message is deeply uncomfortable. I do not see that changing. And sometime the markets will note.