Weak pound doing wonders for an export led UK recovery

[DimPrawn]

Not!


http://news.bbc.co.uk/1/hi/business/8557200.stm

The UK's goods trade deficit with the rest of the world unexpectedly widened to its biggest since August 2008 in January.

And exports saw their sharpest drop in more than three years, according to the Office for National Statistics.

The UK's trade gap in physical goods widened to £7.99bn ($12bn), well above the £7bnn forecast by economists.

The news was disappointing especially since the weak pound might have been expected to boost sales abroad.

Doomed. Pound dropping like a stone again.

[suityou01]

Not!


http://news.bbc.co.uk/1/hi/business/8557200.stm








Doomed. Pound dropping like a stone again.

WB DP

[TimberWolf]

Doomed. Pound dropping like a stone again.

Yeah, 3/4% down already today against USD.

[DimPrawn]

It's obvious New Labour's plan to shrink their trillion pound deficit is to destroy the pound, therefore destroying all their debt.

Sorteeeed.

I hope no one here has any savings or pensions.

[HairyArsedBloke]

Doomed. Pound dropping like a stone again.

To be balanced, so is EUR, but GBP doing worse so EUR/GBP going up (especially for Atw who lives in his own world: GBP/EUR going down)

But, .... I don't care.

[AtW]

(especially for Atw who lives in his own world: GBP/EUR going down)

Whichever, as long as it moves in the right direction

[HairyArsedBloke]

Whichever, as long as it moves in the right direction

Which is? Do you have a target?

[Mich the Tester]

Some possible explanations;
- products are too tulipe for anyone to want to buy them
- everyone else is bust
- costs remain relatively high because the currency advantage is wiped away by higher costs of imported parts and materials and fuel

[DodgyAgent]

Whichever, as long as it moves in the right direction

AtW is your master plan to write some dodgy software, blind greedy overseas investors with technology, get a couple of million "invested" in Euros, stick it in a bank account and trouser the proceeds that result from the falling pound?

[AtW]

AtW is your master plan to write some dodgy software, blind greedy overseas investors with technology, get a couple of million "invested" in Euros, stick it in a bank account and trouser the proceeds that result from the falling pound?

For the record - NO, that is (obviously) NOT my plan.

This plan does not make any sense - if pound is falling then what's good to transfer good currency into falling one?!?!

I've seen 2100% per annum inflation, when currency dropped 10000 times to dollar in like 10 years, do you think people at the time were changing dollars to rubles much?