Politics, politics, politics (so long and thanks for all the fish)

[awesome dawson]

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This absolute clam slides out of every question with the same disdain for the people he serves, as his orange friend over in the White House. If this is the best the tories can do can then it really doesn't offer them much hope going forward.

 

[scaramanga]

Brexit isn't just finances

Everything is just finances.

 

[scaramanga]

Balance of payments (total exported minus total imported) is an old metric. The UK has for decades imported more than we've exported. But I don't believe things like house purchases made from abroad are counted in this metric? Would be interesting to find out.

You're right, it is. That doesn't mean more exports is bad for the country. In fact, low exports are often a sign of the kind of constriction our economy faces.

 

[Diamond Lights]

View attachment 8855
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This absolute clam slides out of every question with the same disdain for the people he serves, as his orange friend over in the White House. If this is the best the tories can do can then it really doesn't offer them much hope going forward.

As i said before, Boris could come take a dump on some people's front garden and they would clap him off for handing out free fertiliser as a Brexit bonus.

 

[parklane1]

Here we go again same fudging arguments about it being a bad thing.

 

[SpurMeUp]

Here we go again same fudging arguments about it being a bad thing.

Interesting thing is, when it stops being an argument - an opinion - and the reality is there to see. Like the value of the pound.

Remember the quick and easy mantra? Brexit will be easy. You're now complaining that its the same old nonsense, well yeah, that is Brexit. A lot of gonad*s for nothing of value.

 

[parklane1]

Interesting thing is, when it stops being an argument - an opinion - and the reality is there to. Like the value of the pound.

Remember the quick and easy mantra? Brexit will be easy. You're now complaining that its the same old nonsense, well yeah, that is Brexit. A lot of gonad*s for nothing of value.

same old

Especially from the same old bitchers " its not fair we lost i gonna scream and scream"

 

[SpurMeUp]

same old

Especially from the same old bitchers " its not fair we lost i gonna scream and scream"

If only it was about winning and losing like a football game, with few implications for the money in your pock and the opportunities of your kids and grandkids <insert your patented rolly eye emoji> Those things are not important? Just accept something that damages the nation? Don't have to scream, just try and understand the reality that future generations are left with. Because despite what you were promised, Brexit is not quick, we are not even across the line yet. One thing is for sure it will drag on, because there is no simple Brexit that works for our benefit.

 

[Diamond Lights]

Interesting thing is, when it stops being an argument - an opinion - and the reality is there to see. Like the value of the pound.

That was one of my fave parts. People jumping into Facebook with "the pound was over valued anyway". Like they've been sat on the trading floor selling Euro/Dollar Spots and Forwards

 

[scaramanga]

That was one of my fave parts. People jumping into Facebook with "the pound was over valued anyway". Like they've been sat on the trading floor selling Euro/Dollar Spots and Forwards

What about those who do that for a living that had been saying it for the best part of 18 months?

 

[Diamond Lights]

As an aside, I never understand this fascination with using "look at our exports" with the £ crash. The simple response is "yeh, but look at our imports" - and we run a trade deficit of imports over exports, so for all the wonderful money we make exporting, we've lost more importing with the £ crash.

 

[SpurMeUp]

What about those who do that for a living that had been saying it for the best part of 18 months?

A strong pound was a good thing. The global markets had great faith in UK plc. The cost of a weekly shop has to be a good bit more now.

 

[Danishfurniturelover]

same old

Especially from the same old bitchers " its not fair we lost i gonna scream and scream"

 

[Diamond Lights]

What about those who do that for a living that had been saying it for the best part of 18 months?

I'd be keen to understand what valuation method they used to determine it has overvalued, as the £ weight in 2007 was far higher

 

[scaramanga]

A strong pound was a good thing. The global markets had great faith in UK plc. The cost of a weekly shop has to be a good bit more now.

Only because we can't import from wherever we like, whenever we like.

Global markets still have great faith in the UK.

 

[scaramanga]

I'd be keen to understand what valuation method they used to determine it has overvalued, as the £ weight in 2007 was far higher

My understanding was that everyone expected it to trend to roughly level with the Euro over time, it was just a question of when.

 

[P.D.]

My understanding was that everyone expected it to trend to roughly level with the Euro over time, it was just a question of when.

In the early 2000's it did trade level with the euro I believe, I remember at the airport with their ridiculous rates it actually turned negative.

 

[Gazza Dazzla]

In the early 2000's it did trade level with the euro I believe, I remember at the airport with their ridiculous rates it actually turned negative.

Not sure how well this image will come out, but here’s the monthly GBP/EUR chart since 99 FWIW:

 

[SpurMeUp]

These guys do this for a living. Bank of America should be pretty neutral. Here’s what they said:

Pound is becoming an emerging market currency, says BofA analyst

Brexit has permanently altered investors’ views on sterling, warns strategist

The pound is now an emerging-market currency in all but name, according to analysts at Bank of America, who say that Brexit has turned it into a mirror of the “small and shrinking” UK economy.

In the four years since the UK voted to leave the EU, trading conditions in the pound and the big swings in exchange rates make it a better match with the Mexican peso than the US dollar, said Kamal Sharma, a currency analyst at BofA. He said that movements in the currency since the June 2016 Brexit vote have become “neurotic at best, unfathomable at worst”.

“We believe sterling is evolving into a currency that resembles the underlying reality of the British economy: small and shrinking with a growing dual deficit problem”

Kamal Sharma, Bank of America

Traditionally, sterling has been part of the so-called G5 currency group — alongside the dollar, the euro, the Japanese yen and Swiss franc — as one of the most heavily traded and therefore safest currencies in the world.

But since the Brexit vote, uncertainties over the relationship between the UK and the EU have made investors less willing to take views on the currency, resulting in a drop in liquidity. That means that the pound can no longer be analysed according to the same framework as other major currencies, said Mr Sharma.

“The pound increasingly resembles the more liquid emerging market currencies rather than a core G10 currency,” Mr Sharma wrote in a research note to clients on Tuesday, the fourth anniversary of Britain’s referendum on EU membership.


The pound has not recovered to levels before the UK voted to leave the bloc, losing about one-fifth of its value. And since the start of the pandemic, sterling has moved violently. At the height of the crisis, investors were bracing for such great swings in the pound that only the Brazilian real experienced a larger increase in implied volatility.

Sterling plunged to a multi-decade low against the dollar in mid-March, before recovering after the US Federal Reserve and other major central banks stepped in to cool the dollar.




https://www.ft.com/content/4fd04fd9-7209-4b7c-97a1-97466f226159


Sitting on my porcelain throne using glory-glory.co.uk mobile app

 

[Gilzeantoscore]

As i said before, Boris could come take a dump on some people's front garden and they would clap him off for handing out free fertiliser as a Brexit bonus.

He is churchillian.