We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Weak pound reaping rewards!

StevieJ
StevieJ Posts: 20,174 Forumite
Part of the Furniture 10,000 Posts Combo Breaker
in Debate House Prices & the Economy
Some good news icon7.gif

The biggest sterling devaluation since the collapse of the Gold Standard in the 1930s is starting to reap rewards, economists declared yesterday, as fresh figures showed a dramatic improvement in Britain's current account and household balance sheets.

http://www.telegraph.co.uk/finance/economics/6868271/Weak-pound-starting-to-reap-rewards.html
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
«13

Comments

  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    StevieJ wrote: »
    Some good news icon7.gif

    The biggest sterling devaluation since the collapse of the Gold Standard in the 1930s is starting to reap rewards, economists declared yesterday, as fresh figures showed a dramatic improvement in Britain's current account and household balance sheets.

    http://www.telegraph.co.uk/finance/economics/6868271/Weak-pound-starting-to-reap-rewards.html

    Bleedin' obvious that devaluing the pound was the right thing to do.

    Despite the frothers claims to the contrary.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • nembot
    nembot Posts: 1,234 Forumite
    Words fail me....
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    HAMISH_MCTAVISH wrote: »
    Bleedin' obvious that devaluing the pound was the right thing to do.

    Despite the frothers claims to the contrary.

    But it was going to cause hyper-inflation.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Really2 wrote: »
    But it was going to cause hyper-inflation.

    Zimbabwe, even......:D
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • phil_b_2
    phil_b_2 Posts: 995 Forumite
    Oh crikey, we'll be a third-world country soon, battling in the streets, hording weapons and killing wild animals for supper. Best refresh my sewing skills etc.
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    All paper currencies eventually revert to their intrinsic value - zero.


    This is a race to the bottom and the pound is winning.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    StevieJ wrote: »
    Some good news icon7.gif

    The biggest sterling devaluation since the collapse of the Gold Standard in the 1930s is starting to reap rewards, economists declared yesterday, as fresh figures showed a dramatic improvement in Britain's current account and household balance sheets.

    http://www.telegraph.co.uk/finance/economics/6868271/Weak-pound-starting-to-reap-rewards.html

    Generally speaking, the devaluation of the pound will create/protect jobs at the expense of the general standard of living. Right now that's probably not so bad a trade off.
    Really2 wrote: »
    But it was going to cause hyper-inflation.

    Forum-nomics states that hyperinflation starts once the RPI hits 10%.

    Andy Flower(?) gave a great anecdote about hyper-inflation on the radio over here. He went there to commentate on a game and bought himself a T-Shirt while he was there for ZWD4,000,000,000. It became a favourite of his and he wore it often so it became badly worn and pretty scruffy.

    He went back a year or two later and someone offered to buy it from him in its now battered state for ZWD10,000,000,000,000.
  • JonnyBravo
    JonnyBravo Posts: 4,103 Forumite
    Mortgage-free Glee!
    nearlynew wrote: »
    All paper currencies eventually revert to their intrinsic value - zero.

    As opposed to what? Gold has an "intrinsic value" does it? Shiny baubles!

    Least you can wipe your ar $e on the money.

    Stick to your "100% gaurantees", it's tried, trusted and mildly amusing :rolleyes:
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    edited 23 December 2009 at 12:22PM
    Try wiping your @rse with numbers on a screen big boy.


    gold may not have any intrinsic value, but as money it has no better rival.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • Spartacus_Mills
    Spartacus_Mills Posts: 5,545 Forumite
    StevieJ wrote: »
    Some good news icon7.gif

    The biggest sterling devaluation since the collapse of the Gold Standard in the 1930s is starting to reap rewards, economists declared yesterday, as fresh figures showed a dramatic improvement in Britain's current account and household balance sheets.

    http://www.telegraph.co.uk/finance/economics/6868271/Weak-pound-starting-to-reap-rewards.html

    This is a natural function of the economy and something I wish had happened 10 years ago for manufacturing.

    I think if it carries on as it is then fine, but there is a risk that if there is a run on the currency then we will start to import infation and we will have to have rising interest rates when we do not need them.

    It is right to be cautious about the risks but also to appreciate the benefit we are currently getting.
    "There's no such thing as Macra. Macra do not exist."
    "I could play all day in my Green Cathedral".
    "The Centuries that divide me shall be undone."
    "A dream? Really, Doctor. You'll be consulting the entrails of a sheep next. "
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture