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Reply to: The Pound is a-sinking
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Previously on "The Pound is a-sinking"
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Originally posted by Doggy Styles View Post"A weak pound is the sign of a weak economy, and a weak economy is the sign of a weak government."
Gordon Brown, 1992
Tony told me to say that.
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"A weak pound is the sign of a weak economy, and a weak economy is the sign of a weak government."
Gordon Brown, 1992
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DOOMED!
I hope its transitory though, gonna cash in my US shares if pound hits $1.20 and steadies. £:$ would be insane!
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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.
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Originally posted by sunnysan View PostI 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.
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Good/Bad
Originally posted by BrilloPad View PostIsn't a sinking pound a good thing rather than a bad thing?
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Originally posted by ace00 View PostI think so. It goes something like this:
1. Debt
2. Devalue
3. Inflate
4. Recover
That's over about 5 year period. Best case.
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
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Originally posted by BrilloPad View PostIsn't a sinking pound a good thing rather than a bad 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.
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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!Tags: None
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