advice please our £s value why is it so low?

[ragjoy]

i know brown and co are full of st,but if as where told everybody is in the same boat (ie europe) but there's are sinking and ours just has a hole just above the water line why is our pound so weak against other currencies.

[AshVX220]

ragjoy said:

i know brown and co are full of st,but if as where told everybody is in the same boat (ie europe) but there's are sinking and ours just has a hole just above the water line why is our pound so weak against other currencies.

Lots of factors I guess, but I think that currency value is decided moer by people who understand money better than the government. Our government just issued a rediculously bad budget and the "money-men" know how bad it's going to get for us now. Maybe the other nations just have better plans (in the money-men's eyes) for digging themselves out of the hole we're all in.

[Guybrush]

The fact that the £ is so low is evidence of the fact that we are fareing worse than most other countries. Labour are trying to brainwash us by saying "global" economic crisis as many times as possible, but that's their way of hiding from their (usual) economic mismanagement (i.e. overspending etc).

[Puggit]

Guybrush said:

The fact that the £ is so low is evidence of the fact that we are fareing worse than most other countries. Labour are trying to brainwash us by saying "global" economic crisis as many times as possible, but that's their way of hiding from their (usual) economic mismanagement (i.e. overspending etc).

What he says.

In fact, I'm quite pleased (and surprised) that the pound hasn't tanked more since the budget...

[digger_R]

sterling is not a reserve cuurency
the uk gubberment is a shower of st
things will get worse before they get better for the uk
the uk gubberments attempts at trying to reinflate the bubble instead of fixing the root causes means investors become very nervous

a lot of people kniow this and have done for a while

[Tony*T3]

Its all about the 'future'. They think ours is bleaker than the current government lets on.


But then again, these retards that decide such stuff couldn't see it in 2005 when the £ was over 2 $'s. Like with everything, they're all fekin experts when theres hindsight to sway their opinion.

[Northern Munkee]

digger_R said:

sterling is not a reserve cuurency
the uk gubberment is a shower of st
things will get worse before they get better for the uk
the uk gubberments attempts at trying to reinflate the bubble instead of fixing the root causes means investors become very nervous

a lot of people kniow this and have done for a while

Oddly though some government bond's expert, interviewed on BBC, was still saying UK government bonds would still be triple A rated. Suggesting that as our debt of a % GDP had been 40-ish% but heading for 80% was bad, that would only bring us in line with Germany and France who start in the 60% region but are themselves heading for 80%.

[esselte]

ragjoy said:

i know brown and co are full of st,but if as where told everybody is in the same boat (ie europe) but there's are sinking and ours just has a hole just above the water line why is our pound so weak against other currencies.

"....A weak currency is the sign of a weak economy, which is the sign of a weak government
— Gordon Brown, 1992..."

[unrepentant]

Historically (the past 25 years) the £ has usually traded between the $1.40 - 1.60 mark. For 15 years from the mid 80's to the late 90's I was importing goods from the Far East, all bought in $ and I used $1.50 as my conversion rate for much of that time. I tend to feel that the $2 to the £ rate we enjoyed for a couple of years was the anomaly, rather than the current rate.


£ to Euro is another matter...

[randlemarcus]

esselte said:

"....A weak currency is the sign of a weak economy, which is the sign of a weak government
— Gordon Brown, 1992..."

That would make an excellent billboard, somewhere near Parliament Square.

[Deva Link]

unrepentant said:

Historically (the past 25 years) the £ has usually traded between the $1.40 - 1.60 mark. For 15 years from the mid 80's to the late 90's I was importing goods from the Far East, all bought in $ and I used $1.50 as my conversion rate for much of that time. I tend to feel that the $2 to the £ rate we enjoyed for a couple of years was the anomaly, rather than the current rate.

Go back a little further and the pound was much stronger. It averaged over $2 in 1979, 80 & 81. 1976 was the first year it dropped below $2. It was $2.50 in 1972.

[unrepentant]

Deva Link said:

unrepentant said:

Historically (the past 25 years) the £ has usually traded between the $1.40 - 1.60 mark. For 15 years from the mid 80's to the late 90's I was importing goods from the Far East, all bought in $ and I used $1.50 as my conversion rate for much of that time. I tend to feel that the $2 to the £ rate we enjoyed for a couple of years was the anomaly, rather than the current rate.

Go back a little further and the pound was much stronger. It averaged over $2 in 1979, 80 & 81. 1976 was the first year it dropped below $2. It was $2.50 in 1972.

And it was $4 in the 1800's...... My point is that in recent history $1.50 has been pretty much the norm. When it was $2 last year and the year before everything was so cheap in the US and conversely everything here seemed so expensive for them. Don't get me wrong, I'd rather it was $2, I'm moving to the US and most of my cash is in £!

[HundredthIdiot]

European Union = race to the bottom.

[fido]

Tony*T3 said:

But then again, these retards that decide such stuff couldn't see it in 2005 when the £ was over 2 $'s. Like with everything, they're all fekin experts when theres hindsight to sway their opinion.

You've forgot about interest rates .. some of those 'experts' were earning over 5% before they moved their wonga to safer shores.

[Deva Link]

ragjoy said:

i know brown and co are full of st,but if as where told everybody is in the same boat (ie europe) but there's are sinking and ours just has a hole just above the water line why is our pound so weak against other currencies.

Colleagues in Germany tell me things are getting really nasty there - it's not widely realised that Germany is the world's largest exporter of manufactured goods so a strong Euro at the same time as a global slowdown is a bit of a disaster to them.

[pies]

Apparently we as a country are close to losing our AAA credit rating,if we lose that expect the £ to fall of the cliff

[digger_R]

Deva Link said:

ragjoy said:

i know brown and co are full of st,but if as where told everybody is in the same boat (ie europe) but there's are sinking and ours just has a hole just above the water line why is our pound so weak against other currencies.

Colleagues in Germany tell me things are getting really nasty there - it's not widely realised that Germany is the world's largest exporter of manufactured goods so a strong Euro at the same time as a global slowdown is a bit of a disaster to them.

I'm in the fairly affluent south and it's mostly a case of the credit crunch being something on the news to the locals (other than the chap who threw himself under a train - Ratiopharm chap).

In parts of the north I hear on the news it is quite nasty but every regular Joe doesn't have a (mahoosive) mortgage which is the significant difference I see when comparing it to the UK. Credit card debt is debited from your account on a monthly basis - debt culture here is more akin to the Uk in the early 90s, with a shift in the last few years towards debt something closer to the position of the Uk