Is outsourcing the cause of RBS debacle?

[Scoobos]

(which simply boosts exports).

We need something to export... you know, something tangible, that exists..

[Robinho]

Money doesn't leak, it weakens the pound, which boosts exports.

[Sysman]

Again, because you cannot spend Pound Sterling abroad we are not "giving our money away" we are weakening the pound (which simply boosts exports).

You can spend the Pound Sterling abroad. It has long been a tradition of immigrants from third world countries to send money back home.

[Scoobos]

You can spend the Pound Sterling abroad. It has long been a tradition of immigrants from third world countries to send money back home.

And me, in other countries I always send my moolah back home.

I remember the fun we had waiting for exchange rate spikes to IBAN our cash home.

[Robinho]

You can spend the Pound Sterling abroad. It has long been a tradition of immigrants from third world countries to send money back home.

If you want to actually buy something you'll typically have to buy it from the UK though. Which means the money comes back.

[Sysman]

Money doesn't leak, it weakens the pound, which boosts exports.

A weak pound pushes up the prices of importing raw materials too.

[Robinho]

A weak pound pushes up the prices of importing raw materials too.

It reduces the cost to add value though.

[Scoobos]

Ah gawd, don't confuse him with Balance of Payments ; he's already struggling with economics more modern than the mid 1800's.

For the "typically buy from the UK"

What exports do foreign nationals typically buy from the UK from overseas?

Its much more likely their money will go to Germany, Japan, China, USA etc - as they manufacture things that people want.

I've just seen the post above, I call troll :P

[Robinho]

Scoobus you are a twat. You are clueless economically but yet you are the one giving me jibes.

[Scoobos]

I hope I'm not - I have a degree in Economics (*cough* 15 years ago)

Damn you got me, I already forgot about "It reduces the cost to add value though." as an answer to imports cost more.