OMG, Approximately @ 08:54 GMT the euro broke through the 0.90105 barrier

[scooterscot]

My guess is they will put up interest rates to halt a sterling slide.

The expat consensus out here in our little sweltering office is mixed but one thing stands out clear, none of us envisage voluntarily returning to the UK in the next 2 years.

That say's to me whatever the bank of england do in the next 24 months it'll not be enough. A 0.25%, 0.50% or even 1% rise in interest rates will plunge the economy into dark territory before any hint of recovery. The state has not reached the bottom yet so how can it recover?

[OwlHoot]

WHS



My guess is QE3 to push the slide a bit quicker.

It's great when you owe the world a trillion pounds and a trillion pounds is worth nothing.

WHS - Can't see UK interest rates rising for the foreseeable future, while we're even nominally in charge of our national finances.

[Paddy]

Shock as pound devalued by 30%

M. Camille Gutt, managing director of the International Monetary Fund, described the devaluation as "a step in the right direction"

[Fred Bloggs]

Got a siemens fridge freezer not that long ago, feels like it was cast from a solid lump of iron.

Made by Bosch.

[Sysman]

Bosch aren't what they were because they are now competing on that level, interestingly my 'cheap' Hotpoint dishwasher is a re-badged Bosch from the era when Bosch were good.

My old Hotpoint pwns a new Bosch.

It's amazing what you learn when you research before you buy.

A mate has a Bosch dishwasher and it's amazingly quiet. My last Bosch drill was crap; no matter how much I tightened the clamp thingy, under heavy load it would spin without turning the drill bit.

[Sysman]

The "economy" all these years was driven by consumer debt fuelled by credit cards, mortgage equity withdrawal, cheap personal loans, house prices going up by 20% etc. Now that this money has dried up consumers are realising that they are actually poor and have to repay all that cash that they splurged on cheap tat and holidays abroad.

I watched a 1998 episode of Grand Designs last night.

A decent plot of land for £45 K. Estimated building costs £70 K (OK it was a self build) and a mortgage of £49 K. Decent sized family home, and economical to run too (triple glazed windows from Sweden etc).

Yes they went over budget, but it was a dramatic illustration of how house prices used to be quite sensible.

[Sysman]

Hand tools are a better example, although quite possibly most of those are made in China these days as well. Either way, most of the stuff on the shelves on the high street is low quality compared to what you will find in Germany or Japan.

Britain seems to be a country addicted to cheap tulipe. Or even worse, over priced cheap tulipe. All IMO of course.

I came across this in the 90s when I became a carefree batchelor once more. Shopping for an iron, I wanted the dog's danglies steam iron that could allegedly iron curtains while they were still hung up. The salesman was trying to persuade me to buy a cheaper model!

A few years later setting up a new home in Europe I went for another steam iron. 10 times better than the top of the range jobby I'd bought in the UK, and it really could iron curtains while they were hanging up. This one wasn't even top of the range, I could have spent lots more if I'd been inclined to.

[gingerjedi]

I came across this in the 90s when I became a carefree batchelor once more. Shopping for an iron, I wanted the dog's danglies steam iron that could allegedly iron curtains while they were still hung up. The salesman was trying to persuade me to buy a cheaper model!

A few years later setting up a new home in Europe I went for another steam iron. 10 times better than the top of the range jobby I'd bought in the UK, and it really could iron curtains while they were hanging up. This one wasn't even top of the range, I could have spent lots more if I'd been inclined to.

East Germany?

[Sysman]

East Germany?

LOL!

I wonder what Google will make of that?

[DodgyAgent]

I came across this in the 90s when I became a carefree batchelor once more. Shopping for an iron, I wanted the dog's danglies steam iron that could allegedly iron curtains while they were still hung up. The salesman was trying to persuade me to buy a cheaper model!

A few years later setting up a new home in Europe I went for another steam iron. 10 times better than the top of the range jobby I'd bought in the UK, and it really could iron curtains while they were hanging up. This one wasn't even top of the range, I could have spent lots more if I'd been inclined to.

Talking of irons where's Churchill this week?