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The Pound is a-sinking

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    The Pound is a-sinking

    Abandon ship, abandon ship

    New Liebour sheep voters, repent.

    We could see GBPUSD at the year 2001 lows of 1.3680 shortly, then next stop is 1.3380

    The BOE printing money has diluted the value of the currency and scared investors away from the UK.

    Bye Gordon, it was (not) nice knowing you!
    'Orwell's 1984 was supposed to be a warning, not an instruction manual'. -
    Nick Pickles, director of Big Brother Watch.

    #2
    Isn't a sinking pound a good thing rather than a bad thing?

    Comment


      #3
      Originally posted by BrilloPad View Post
      Isn't a sinking pound a good thing rather than a bad thing?
      I think so. It goes something like this:

      1. Debt
      2. Devalue
      3. Inflate
      4. Recover

      That's over about 5 year period. Best case.
      Bored.

      Comment


        #4
        Originally posted by BrilloPad View Post
        Isn't a sinking pound a good thing rather than a bad thing?
        It makes exports more price competitive internationally, and that can only be a good thing.

        That is assuming the country still produces anything for export that is.

        It makes imports more expensive and so that would push up prices and inflation, and that is a bad thing.

        That is assuming that people still have any money left to buy imports at all that is.

        Comment


          #5
          Originally posted by ace00 View Post
          I think so. It goes something like this:

          1. Debt
          2. Devalue
          3. Inflate
          4. Recover

          That's over about 5 year period. Best case.
          I wish I could remember more from O level economics now. It seemed carp at the time but I suspect was quite sensible now compared to current economic theory, which goes:

          1. Boom
          2. Goto 1
          3. How the heck did we get here. Goto 1!
          4. Confused. Goto 1. ffs
          5. Feck
          6. Here be dragons

          Comment


            #6
            Good/Bad

            Originally posted by BrilloPad View Post
            Isn't a sinking pound a good thing rather than a bad thing?
            I think this has been discussed quite extensively but I believe the general argument is that since UK is a net importer of goods, how can the devaluation of sterling be as good thing.
            There are no evil thoughts except one: the refusal to think

            Comment


              #7
              Originally posted by sunnysan View Post
              I think this has been discussed quite extensively but I believe the general argument is that since UK is a net importer of goods, how can the devaluation of sterling be as good thing.
              To persuade us to stop buying so many imported goods?

              Comment


                #8
                Even if you are an exporter a weak (or dead) pound means the raw materials and your energy costs (imported) are much much higher.

                If you take copper and steel for example and produce widgets for export, the cost of the raw materials and the energy to produce the widget is going to be very costly.

                Comment


                  #9
                  DOOMED!

                  I hope its transitory though, gonna cash in my US shares if pound hits $1.20 and steadies. £:$ would be insane!

                  Comment


                    #10
                    I definitely need to get a $ business account...
                    Originally posted by MaryPoppins
                    I'd still not breastfeed a nazi
                    Originally posted by vetran
                    Urine is quite nourishing

                    Comment

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