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Devalue pound to boost economy, says JML founder Entrepreneur John Mills fears Britai
grizzly1911
Posts: 9,965 Forumite
http://www.telegraph.co.uk/finance/currency/10716848/Devalue-pound-to-boost-economy-says
On the radio this morning Mr Mills said this would have understandable benefits, on one side of the coin, but suggested this would have next to no effect on inflation. An increase of only 1% to 3%.
Is this suggestion as much use as the products he markets?
On the radio this morning Mr Mills said this would have understandable benefits, on one side of the coin, but suggested this would have next to no effect on inflation. An increase of only 1% to 3%.
Is this suggestion as much use as the products he markets?
"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
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Comments
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I thought we had a floating currency -- how do you devalue it ?No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
Increase the money supply.0
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Thrugelmir wrote: »Increase the money supply.
And other things things being equal stoke up inflation, which this character says would not happen ... based on what ?
Business people's economic recommendations seldom have great credibility or validity because they are usually based on commercial self-interest rather than national interest. When they do get it right it's because the two happen to coincide. Step changes in exchange rates invariably involve winners and losers. Currency depreciation -- and that's what this would be, not devaluation -- makes exporters happy and importers miserable, and vice-versa.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
GeorgeHowell wrote: »And other things things being equal stoke up inflation, which this character says would not happen ... based on what ?
Spare capacity in the economy. Wage inflation will be remain low. Compared to much of Europe the UK is a high wage economy. Even Germany does not not have a minimum wage. So the downward pressure will be maintained from a number of directions. That's without factoring in that the labour is global in terms of where companies can base themselves.0 -
Thrugelmir wrote: »Spare capacity in the economy. Wage inflation will be remain low. Compared to much of Europe the UK is a high wage economy. Even Germany does not not have a minimum wage. So the downward pressure will be maintained from a number of directions. That's without factoring in that the labour is global in terms of where companies can base themselves.
Aren't Germany introducing a NMW?
Read somewhere that they also "guild" minimum rates for skilled workers not sure if that still exists.
Hard to believe that the sort of goods marketed by his organisation are on tight product profit margins."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
GeorgeHowell wrote: »Currency depreciation -- and that's what this would be, not devaluation -- makes exporters happy and importers miserable, and vice-versa.
Not just importers don't think consumers would be best pleased either. Energy, fuel, food, clothing will all go north not to mention discretionary spend."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Aren't Germany introducing a NMW?
Doesn't exist as yet though.0 -
grizzly1911 wrote: »Not just importers don't think consumers would be best pleased either. Energy, fuel, food, clothing will all go north not to mention discretionary spend.
Energy, food and fuel costs will rise as the global population increases. The UK needs to invest to generate and produce as much of this requirement as possible. Rather than rely on cheap imports.0 -
Thrugelmir wrote: »Energy, food and fuel costs will rise as the global population increases. The UK needs to invest to generate and produce as much of this requirement as possible. Rather than rely on cheap imports.
Don't disagree but that is a separate issue. No need to fuel the problem."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Don't disagree but that is a separate issue. No need to fuel the problem.
Issues that are faced all inter link. As are structural deficiencies in the UK economy. As I've said before. Long road ahead with no quick fixes.0
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