Fall of the £ again

[Jimgward]

Rita

Whiles out are obviously enjoying your golden years and no doubt deservedly so, you're hardly the average pensioner!

In fact, I'd go so far as to say nobody on this board will be average Joe or Jane Bloggs.... Myself included.

The majority of pensioners cannot afford to do very much or spend very much. A large number are on low pensions, some only state pensions. That doesn't keep the old gears turning.

[Dominic]

That's a valid point.

[cyprusgrump]

Rita

Whiles out are obviously enjoying your golden years and no doubt deservedly so, you're hardly the average pensioner!

In fact, I'd go so far as to say nobody on this board will be average Joe or Jane Bloggs.... Myself included.

The majority of pensioners cannot afford to do very much or spend very much. A large number are on low pensions, some only state pensions. That doesn't keep the old gears turning.

Which rather nicely brings us all the way back to my original point...

The markets may be booming, but that helps the few. It is a false position, due to the weakness of the pound.

This of course simply isn't true...

A booming stock market benefits the millions of 'ordinary' people that have their pension pots invested in it - not just 'the few'.

[Jim B]

Over half of the companies listed on the FTSE are foreign and deal in dollars so a falling pound boosts there profits plus it is mainly overseas getting the benefits, not those in the UK; well that's according to Goldman Sachs who say only a sliver of British households benefit from a rising share price. Google it. And it dropped 26 points yesterday.

Jim

Jim

[cyprusgrump]

Over half of the companies listed on the FTSE are foreign and deal in dollars so a falling pound boosts there profits plus it is mainly overseas getting the benefits, not those in the UK; well that's according to Goldman Sachs who say only a sliver of British households benefit from a rising share price. Google it. And it dropped 26 points yesterday.

Jim

Jim

Still not looking too shabby actually....

[Jim B]

Quite but as I wrote earlier the buoyancy of the FT was due in part to the falling pound.

Jim

[OhSusana]

Would anyone like to predict when it will go up again , don't like this 1.13 .

Indeed, indeed.

[OhSusana]

re the Stock market, a couple of articles -
Graph of the day: Who benefits from a stock-market boom?
https://www.washingtonpost.com/news/won ... 91d0fbdc04
That is for America. 10% own 80% of the stock.
As for the uk -
Ownership of UK Quoted Shares: 2014
https://www.ons.gov.uk/economy/investme ... 2015-09-02
Rest of the world ownership stood at an estimated 54% of the value of the UK stock market at the end of 2014. This was up from 31% in 1998 but unchanged from the 2012 estimate...

Insurance companies held an estimated 6% and pension funds an estimated 3% by value at the end of 2014, continuing the downward trends in these sectors seen in recent years...

[OhSusana]

Quite but as I wrote earlier the buoyancy of the FT was due in part to the falling pound.

Jim

Indeed. Found a nice explanatiion or two of that below -

Why are the pound and the stock market heading in different directions?
http://www.independent.co.uk/news/busin ... 56406.html
A large chunk of their revenues and profits are from overseas – 77 per cent of the total according to some estimates.

Q&A: falling pound, rising markets
https://www.theguardian.com/business/20 ... ng-markets
There are two key reasons. The first is that many FTSE 100 firms earn their revenues in dollars. Among them are the largest on the London exchange: oil majors BP and Shell; the mining companies BHP Billiton and Anglo American; and banks such as HSBC. As the value of dollars rises versus the pound, the profits of these companies increase. They become more valuable and the stock market goes up as a consequence.

[Rita Sherry]

Rita

Whiles out are obviously enjoying your golden years and no doubt deservedly so, you're hardly the average pensioner!

In fact, I'd go so far as to say nobody on this board will be average Joe or Jane Bloggs.... Myself included.

The majority of pensioners cannot afford to do very much or spend very much. A large number are on low pensions, some only state pensions. That doesn't keep the old gears turning.

Jimgward

Please let me assure you that I am fully aware how many "average pensioners" there are and some of the difficulties they face because I did have a widowed mother who lived to aged 97 and grandparents who also lived well into their 90s. My point was in answer to those who consider the spending power of pensioners is so much less than the young particularly as the former dont replace every piece of material goods they possess every two minutes. If one is to believe such dialogue it is the old who are holding things back whilst the young are the only ones with a brain to think with. I respect the elderly and young alike but worshipping at the shrine of youth is not the panacea of good fortune. I feel it is almost a tragedy that one generation is being played off against the other and I am saddened by the attitude on display regarding it from people who I feel should know better. I did say in another post some time back "maybe they should issue all those over 70 with a pill to get us out of the way" Meantime I also know full well that there are many others in the same position as myself who, now released from the necessity of providing for ones family, are able to enjoy the fruits of our earlier labours - I know I worked dammed hard for mine and have been responsible for my own well being for the past 20 years when I suddenly found myself a widow together with mourning the loss of my then young son on the upward trend of his life.

I like to think my political leaning is that of a Conservative (capital C) with a social conscience. I try to help where I can but I make no apology to anyone for enjoying what is left of quite a fruitful life as long as I am able.

Best wishes

Rita

[PhotoLady]

Don't worry Rita - a pill will not be necessary.... the government just keep increasing the pension age so they can kill us younger ones off before we even get to an age that we can actually claim it.

Those who retired (like my parents) and many of you who are in Cyprus were all at that Golden Age when pension pots were much better. The younger generation will never see those good times again, I fear.

I'm glad my stepson, his wife and their soon to arrive newborn son are in Australia where they seem to have a very nice life indeed. It's a place neither I nor my husband have had a hankering to visit but I guess we will have to make at least one trip, one day. Everyone we know who has been to Australia all seem to love it and yet my own family have friends who moved there on the £10 ticket many, many years ago who would now give their right arm to come back to UK. But, they have children and grandchildren there.....

Yay, for choosing to have only 4 legs and fur!

[Rita Sherry]

Don't worry Rita - a pill will not be necessary.... the government just keep increasing the pension age so they can kill us younger ones off before we even get to an age that we can actually claim it.

Those who retired (like my parents) and many of you who are in Cyprus were all at that Golden Age when pension pots were much better. The younger generation will never see those good times again, I fear.

I'm glad my stepson, his wife and their soon to arrive newborn son are in Australia where they seem to have a very nice life indeed. It's a place neither I nor my husband have had a hankering to visit but I guess we will have to make at least one trip, one day. Everyone we know who has been to Australia all seem to love it and yet my own family have friends who moved there on the £10 ticket many, many years ago who would now give their right arm to come back to UK. But, they have children and grandchildren there.....

Yay, for choosing to have only 4 legs and fur!

Jules

You save your pennies and make the trip. I personally am not over fond of Australia but I have visited several times and, for a visit, it is ok. I have friends in Tasmania and I quite like it there but again I am not over enthusiastic as a place to live. They do however have quite a good standard of living and healthy life styles - nowhere is perfect though. Good luck for the new arrival.

Rita

[Jimgward]

Rita

Whiles out are obviously enjoying your golden years and no doubt deservedly so, you're hardly the average pensioner!

In fact, I'd go so far as to say nobody on this board will be average Joe or Jane Bloggs.... Myself included.

The majority of pensioners cannot afford to do very much or spend very much. A large number are on low pensions, some only state pensions. That doesn't keep the old gears turning.

Jimgward

Please let me assure you that I am fully aware how many "average pensioners" there are and some of the difficulties they face because I did have a widowed mother who lived to aged 97 and grandparents who also lived well into their 90s. My point was in answer to those who consider the spending power of pensioners is so much less than the young particularly as the former dont replace every piece of material goods they possess every two minutes. If one is to believe such dialogue it is the old who are holding things back whilst the young are the only ones with a brain to think with. I respect the elderly and young alike but worshipping at the shrine of youth is not the panacea of good fortune. I feel it is almost a tragedy that one generation is being played off against the other and I am saddened by the attitude on display regarding it from people who I feel should know better. I did say in another post some time back "maybe they should issue all those over 70 with a pill to get us out of the way" Meantime I also know full well that there are many others in the same position as myself who, now released from the necessity of providing for ones family, are able to enjoy the fruits of our earlier labours - I know I worked dammed hard for mine and have been responsible for my own well being for the past 20 years when I suddenly found myself a widow together with mourning the loss of my then young son on the upward trend of his life.

I like to think my political leaning is that of a Conservative (capital C) with a social conscience. I try to help where I can but I make no apology to anyone for enjoying what is left of quite a fruitful life as long as I am able.

Best wishes

Rita

Rita

You perhaps have me tarred with "worshiping at the shrine of youth" - nothing could be further from the truth. Similarly, I believe all generations add valuable elements to society. I happened to mention the fact that the youth should not be discounted, as some on here seemed to think, in this thread and others, that the young vote should be discounted as they weren't qualified to have an opinion.

I happen to think it's important that ALL age groups get to vote and contribute. Indeed, I'd make it compulsory and I'd also add the 16-18's as Scotland did in the referendum. This group could be paying taxes, married, smoking, having sex... but can't vote. Some on here seem to assume they'd all be rampant socialists.... as some even think schools are simply breeding grounds for socialism and that all teachers indoctrinate kids. I happen to be pretty well qualified in being able to state that isn't generally true at all.

Regards back to you

Jim

[smudger]

Jim, I'm well aware how qualified you think you are, or were, even though you could walk back into teaching tomorrow. Which says an awful lot more about teaching standards today than you.

I struggle to see how being married, having sex, or smoking qualifies anyone in voting for their parliamentary representatives. Politics requires a greater degree of intelligence than getting married, smoking or having sex. And I think the desires of those voting for Corbyn and his apologists and accolytes prove the point - travelling to the EU, working in the EU...... wow" Yeh, great building blocks for the UK economy! Even ignoring the point that many, many of us both travelled to and studied in Europe prior to the EU!!!!

As I said "how qualified you think you are". The world, and schools, have moved on Jim.

[Dominic]

Politics requires a greater degree of intelligence than getting married, smoking or having sex.

No it doesn't. All you have to do in politics is tick a box.

[smudger]

Exactly Dominic, which is why Corbyn got the support he did!!!

[cyprusgrump]

I happen to think it's important that ALL age groups get to vote and contribute. Indeed, I'd make it compulsory and I'd also add the 16-18's as Scotland did in the referendum.

Your beloved EU doesn't allow it...

According to my best friend Kevork anyway... he said that Cyprus had compulsory voting but EU membership overruled it...

[Jimgward]

Jim, I'm well aware how qualified you think you are, or were, even though you could walk back into teaching tomorrow. Which says an awful lot more about teaching standards today than you.

I struggle to see how being married, having sex, or smoking qualifies anyone in voting for their parliamentary representatives. Politics requires a greater degree of intelligence than getting married, smoking or having sex. And I think the desires of those voting for Corbyn and his apologists and accolytes prove the point - travelling to the EU, working in the EU...... wow" Yeh, great building blocks for the UK economy! Even ignoring the point that many, many of us both travelled to and studied in Europe prior to the EU!!!!

As I said "how qualified you think you are". The world, and schools, have moved on Jim.

I dont see any problem with a qualified professional being able to return to their profession, even after some abscence... Obviously, some form of retraining and expectation to start again at the bottom would be there...

I'm sure you would expect to be able to walk back into bookkeeping?

Your hatred of teachers and labour politics and socialist policies has weighed down heavily on your shoulder..... I'll send you a large chip to balance your views.

[OhSusana]

I'm sure you would expect to be able to walk back into bookkeeping?

Your hatred of teachers and labour politics and socialist policies has weighed down heavily on your shoulder..... I'll send you a large chip to balance your views.

How big do the Cyprus postal service do?
I think you'll have some problems with that chip, Jim.
I read a few days ago that the AN124 is currently in South America. You might have to wait a bit...

http://www.aircargonews.net/news/airlin ... Continue=1

[OhSusana]

I note that the pound stormed up today. Presumably on the BAE vote
http://www.bbc.com/news/business-40288125
UK interest rates have been kept on hold at 0.25%, but in a surprise move three of the Bank of England's rate-setting committee backed a rate rise.
The 5-3 vote by the Bank's policymakers was the closest for a rate rise since 2007, and comes with inflation close to a four-year high of 2.9%.

1.145 or so... wow!!!