Kiwi Toast Posted February 16, 2016 Share Posted February 16, 2016 Bump Quote Link to comment Share on other sites More sharing options...
rantnrave Posted February 24, 2016 Share Posted February 24, 2016 Sunk to $1.38 today and taking an even bigger battering vs the Yen. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted February 24, 2016 Share Posted February 24, 2016 Pound is down to 167 to the Japanese Yen......about the same as it was when they started negative interest rate. What `s going on ? Stagflationary collapse, that's what's going on. Osborne's fairytale recovery just got found out. The pound has dropped below $1.39 for the first time in nearly seven years, with economists warning that a British exit from the European Union could leave households squeezed by a brutal combination of soaring inflation and weak economic growth. Sterling fell as low as $1.388 this morning, as anxiety over the forthcoming EU referendum continued to hit the currency. Analysts at HSBC have warned that the pound could drop at a “fast and furious” pace if the UK voted to leave the EU. Economists at the bank said that leaving the EU could cause the pound to fall by as much as 20pc against the US dollar, taking it “down to levels not witnessed since the early 1980s”. Sterling would slip towards the value of a euro, the bank’s analysts added. Such a depreciation could see inflation jump above 5pc for the first in nearly five years, according to HSBC, potentially exceeding its September 2011 record of 5.2pc, as the goods and services imported by UK households would suddenly become far more expensive priced in pounds. Simon Wells, HSBC’s chief UK economist, said: “Higher inflation would erode real incomes, leaving households with less to spend.” Britons would also find their incomes squeezed by falling economic growth, HSBC said, as current concerns over deflation “could swiftly give way to worries of stagflation”, the painful combination of weak growth, and high inflation suffered by the UK in the 1970s. “The Bank of England would face a dilemma,” said Mr Wells, as any attempt to keep inflation under control by raising interest rates “would amplify any slowdown in growth”. http://www.telegraph.co.uk/business/2016/02/24/pound-falls-below-139-as-economists-warn-brexit-could-hammer-hou/ Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 24, 2016 Share Posted February 24, 2016 Stagflationary collapse, that's what's going on. Osborne's fairytale recovery just got found out. They are ba,limg the pound falling on Brexit worries. They might be correct. Problem is the UK has a lot more problems then leaving the EU - very large budget defict, very large current account deficit. So far, the UK has been lucky as there have been bigger, more dramatic problems elsewhere - Greece, Syria, Trump. markets only have finite capaity to handle x events/issues; the UK has been below the surface. Now the Brexit issue looms and people are having a closer look at the UK, which is a problem. Quote Link to comment Share on other sites More sharing options...
council dweller Posted February 24, 2016 Share Posted February 24, 2016 My Yen has gained about 5% over the past 3 or 4 days. Is this due to brexit ? This is really frightening !! Quote Link to comment Share on other sites More sharing options...
renting til I die Posted February 24, 2016 Share Posted February 24, 2016 One possible upside, If the pound really gets hammered, could we see higher rates? What's worst for the UK rampant inflation or a collapsing housing market? Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted February 24, 2016 Share Posted February 24, 2016 The pound might be dropping because the penny has dropped. Quote Link to comment Share on other sites More sharing options...
giggler000 Posted February 24, 2016 Share Posted February 24, 2016 One possible upside, If the pound really gets hammered, could we see higher rates? What's worst for the UK rampant inflation or a collapsing housing market? Way I see it, it's the same thing. High rampant inflation will lead to defaults on mortgage even with help to buy and other fluff to tempt the masses. Now a collapse in housing without high inflation - that would be interesting. Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted February 25, 2016 Share Posted February 25, 2016 Collective jawboning on zero interest rates from the bankrupt of england has caused this mini collapse. Wonder how many billions this has wiped out and how much more expensive our cost of living is as a result. Carney & Co Push Pound Lower Still Against Dollar and Euro as Interest Rate Cuts Become Possible Once More https://www.poundsterlinglive.com/gbp-live-today/3780-mark-carney-in-focus-for-the-gbp-today Quote Link to comment Share on other sites More sharing options...
campervanman Posted February 25, 2016 Share Posted February 25, 2016 Interesting to see how a collapsing pound affects the referendum debate. Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted February 25, 2016 Share Posted February 25, 2016 Interesting to see how a collapsing pound affects the referendum debate. Haha, Who's worried about a turd of a currency threat from Brexit when your own gobshites in the central bank have destroying the currency in your pocket as policy and openly boast about it, Quote Link to comment Share on other sites More sharing options...
campervanman Posted February 25, 2016 Share Posted February 25, 2016 Haha, Who's worried about a turd of a currency threat from Brexit when your own gobshites in the central bank have destroying the currency in your pocket as policy and openly boast about it, Well now you have two for the price of one, Farage and Carney. Double destruction. Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted February 25, 2016 Share Posted February 25, 2016 Well now you have two for the price of one, Farage and Carney. Double destruction. ********, Central bank policy has been almost entirely malevolent, creating asset bubbles, destroying industry, bailout out the very worst this country has to offer and wrecking the future of this country. The other route there is a chance to head for a different course. Quote Link to comment Share on other sites More sharing options...
LC1 Posted February 25, 2016 Share Posted February 25, 2016 Was thinking of buying something from Japan, £74 a few days ago but I dithered, now £80. Curse them all to hell! Quote Link to comment Share on other sites More sharing options...
campervanman Posted February 25, 2016 Share Posted February 25, 2016 ********, Central bank policy has been almost entirely malevolent, creating asset bubbles, destroying industry, bailout out the very worst this country has to offer and wrecking the future of this country. The other route there is a chance to head for a different course. I think it would be the opposite. A UK free of any EU regulation would be even more able to do what it has been doing. The UK is the UK because it is less like Europe than the rest of Europe. Sure other EU countries had asset bubbles (Spain/Ireland) but those countries have not been allowed to keep the plates spinning whereas the UK has. Quote Link to comment Share on other sites More sharing options...
campervanman Posted February 25, 2016 Share Posted February 25, 2016 Was thinking of buying something from Japan, £74 a few days ago but I dithered, now £80. Curse them all to hell! Buy now before it's £ 90. Quote Link to comment Share on other sites More sharing options...
The12YearWait Posted February 25, 2016 Share Posted February 25, 2016 (edited) Well now you have two for the price of one, Farage and Carney. Double destruction. Christ now its Farages fault the pound is falling. I truly don't understand your point on posting on this site, you do not want a house price crash, you want wages to catch up with prices (which will take 30 years at current prices) .... and you're a boomer landlord who lives overseas on a public sector pension .... Who thinks its in the interests of young British folk to have to compete for jobs with people from nations where wages are not much greater than 3rd world parts of Asia and Africa. Are you only here to rub it in? Edited February 25, 2016 by The12YearWait Quote Link to comment Share on other sites More sharing options...
campervanman Posted February 25, 2016 Share Posted February 25, 2016 (edited) Who says I do not want house prices to fall? Actually I do. I want house prices to fall. I want the UK to stop being an inward looking country run for the benefit of the minority, I want young people to rise up and demand what previous generations had. I may see the solutions to these issues in a different way to you but that doesn't mean I do not want them. Edit On your last point, I have said before that young people having to compete directly with the third world in terms of wages and working conditions is less likely if the UK remains in the EU and more likely if it leaves. Edited February 25, 2016 by campervanman Quote Link to comment Share on other sites More sharing options...
The12YearWait Posted February 25, 2016 Share Posted February 25, 2016 Who says I do not want house prices to fall? Actually I do. I want house prices to fall. I want the UK to stop being an inward looking country run for the benefit of the minority, I want young people to rise up and demand what previous generations had. I may see the solutions to these issues in a different way to you but that doesn't mean I do not want them. I've seen a post of yours stating your preference for wages to rise as opposed house prices to fall. The last time young people protested and rioted due to being lied to about university fees, many ended up in the clink for a disproportionately long time and the mainstream webforums and media were full of people absolutely livid that these lazy, greedy youngsters dare expect what prvious generations had before. What you want is the status quo to be kept and if someone has a differing view to yours they get mocked as being "waycist", "uneducated" etc... Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted February 25, 2016 Share Posted February 25, 2016 Well now you have two for the price of one, Farage and Carney. Double destruction. What utter tosh. I want a CRASH - not a 'fall'. Quote Link to comment Share on other sites More sharing options...
Tresbon Posted February 25, 2016 Share Posted February 25, 2016 Who says I do not want house prices to fall? Actually I do. I want house prices to fall. I want the UK to stop being an inward looking country run for the benefit of the minority, I want young people to rise up and demand what previous generations had. I may see the solutions to these issues in a different way to you but that doesn't mean I do not want them. Edit On your last point, I have said before that young people having to compete directly with the third world in terms of wages and working conditions is less likely if the UK remains in the EU and more likely if it leaves. Hows so? Quote Link to comment Share on other sites More sharing options...
campervanman Posted February 25, 2016 Share Posted February 25, 2016 Hows so? Start with entitlement to paid holidays. Quote Link to comment Share on other sites More sharing options...
The12YearWait Posted February 25, 2016 Share Posted February 25, 2016 Hows so? What he is saying is because Bulgarians, Romanians and soon to be Ukranians and Turkish won't be able to walk straight into to the UK get an NI number and work, that it is more likely that we will be competing with them for the same jobs! Never used those yellow faces until now but i thought it an appropriate time to start. Quote Link to comment Share on other sites More sharing options...
Tresbon Posted February 25, 2016 Share Posted February 25, 2016 Start with entitlement to paid holidays. Over time, globalisation will grind all 'entitlements' into dust. I don't think we were in the EU when such 'entitlements' were granted to British workers in the first place? Workers having greater leverage provided that. Quote Link to comment Share on other sites More sharing options...
The12YearWait Posted February 25, 2016 Share Posted February 25, 2016 Start with entitlement to paid holidays. WoW so we should want to compete with the 3rd world for jobs so we can have an entitlement that we are already entitled to, should one be employed or even an agency worker. Quote Link to comment Share on other sites More sharing options...
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