Fall of the £ again

[Firefly]

Jim

Interesting, are you saying you could walk back into teaching even after an abscence ? Gosh, I hope you didn't teach English Language. Can I have a chip too please.

Jackie

[Jimgward]

Haha.... I could blame auto-correct on my iPad, but it's more laziness on my iPad in checking as I type....

[smudger]

Can't think why I would want to walk back into bookkeeping seeing as I've never been a bookkeeper!

As for Labour and socialist policies you're correct, I hate them with a vengeance, all they ever do is wreck the economy. Teachers I don't hate, don't have a lot of respect for most of them but there's the odd one worth their salt. Now there's a profession full of chips on shoulders!
Before I worked alongside them I bowed to the myth that teachers are next to godly. Working with them soon changed my opinion. Most of them I wouldn't pay in washers, and that includes a few Heads.

[Dominic]

Its a shame some of those heads cannot voice their opinion of you, for a bit of balance.

[smudger]

Well it certainly wasn't me who reduced a working surplus of £200k to a deficit of £300k in 5 years.
Nor was it me who instigated all-out war with the teaching staff yet another head then couldn't manage.
Nor was it me who saw another head brought in on an enormous salary to get the school out of special measures, who after 3 major overhauls of the school management structure in less than 2 years - none of which came close to solving the problems - was put on gardening leave for well over a year before she was finally given an enormous settlement. The school is still in special measures, this a school which 10/12 years ago was massively oversubscribed, it currently has a deficit close to half a million.

This is just a school with which I was connected. I can relate many many more just about schools in the council in which I worked, let alone dozens, if not hundreds more throughout the UK if you like.

[cyprusgrump]

It won't last OhSusana. Any talk of a rates increase will always stimulate a currency's standing. That's why the USD temporarily broke it's underlying downward trend yesterday and today.

The realities of EU negotiations will likely take a further toll next week.

Hmmm...

And how accurate have your doomsday predictions been so far...?

In March, when the Pound was worth €1.13 you said...

That's the reality folks, with I suspect, more to come. Perhaps now you'll appreciate the extent to which the pound is plummeting

And two days ago you said...

But with Sterling now hovering at €1.13-€1.14, who was right and who was wrong? Answers on a postcard please.

So I think it would be fair to say that either...

a) There has been a new dictionary definition of 'Plummeting' to mean, 'staying about the same'...

Or

b) We can send you a postcard pointing out that you were wrong.

I'll let readers of this forum decide if a) or b) is the best answer...

[OhSusana]

It won't last OhSusana. Any talk of a rates increase will always stimulate a currency's standing. That's why the USD temporarily broke it's underlying downward trend yesterday and today.

The realities of EU negotiations will likely take a further toll next week.

True.
I notice now it's at 1.141.
And the suggested rise - somewhere ahead - of interest rates is more linked to rising inflation sadly, rather than a booming economy.
(at least in the UK).

EU negotiations. Last I read they hadn't even agreed on a agenda! it really is a farce.
Meanwhile May has time to meet the DUP, but not the survivors of the tragic fire in London... First things first!

[smudger]

Grumps, seeing as there was no option for don't give a f****** whatsits ill opt for (b). Never read anything this silly woman says any more, reasons obvious.

[cyprusgrump]

Grumps, seeing as there was no option for don't give a f****** whatsits ill opt for (b). Never read anything this silly woman says any more, reasons obvious.

[smudger]

Measured and sensible post TD, well said.

[jeba]

If the omens were not looking good for the Euro it would not be holding up as well as it is; traders would be shorting it.

Well, I wouldn't say the Euro has held up well just because the Pound did even worse. It lost about 30% versus the US$ over the last 10 years, after all.

[cyprusgrump]

And how accurate have your doomsday predictions been so far...?

Since you ask, close on 100%

If you don't think the pound has plummeted since the referendum was first announced, you're clearly living in a rose-tinted world. What's €1.40 take away €1.14? Because I'm generous and understand your limitations I'll give you ten minutes to come up with the answer. You can use a calculator

Only in your fantasy, "I never lose an argument world" I'm afraid...

You said the Pound was plummeting and three months later it is slightly higher...

The Pound was briefly at €1.40 sixteen months before your statement that the Pound was plummeting!

Today it is higher than when you made your statement.

You were wrong.

[Dominic]

Oh he never loses an argument. He never wins one either. It's never ending.

[cyprusgrump]

Oh he never loses an argument. He never wins one either. It's never ending.

[Poppy]

Oh not you're not!!

[cyprusgrump]

Dominic, I'm afraid to say that siding with CG (of all people) does little for your credibility.

There are alternating ups and downs in any chart, whether it be currencies or equities. That's the way they work. The fact remains that prior to the announcement of the referendum the pound was around €1.40. It is now around €1.14. I do not know of any journal or media enterprise which attributes this HUGE depreciation in the UK currency to anything other than circumstances surrounding Brexit. Do you?

It does little for your own credibility (what remains of it) that you try and imply that The Pound being ~€1.40 was the 'norm' prior to the leave vote.

Everybody can see it simply wasn't. In fact, (by your own admission) The Pound has only been at or above €1.40 for nine months since December 2007!

[Dominic]

Hoinestly HiC, I would concern yourself with your own credibility.

Besides, I am not siding with anybody. I just read posts and react as I see fit. I voted remain, after all, which is more than you can say.

[smudger]

"Dominic, I'm afraid to say that siding with CG (of all people) does little for your credibility."

Actually Lloyd, that comment says an awful lot more about you than Dominic, none of it good.

[Jimgward]

The true “average’ rate in recent memory, is around 1.25 - 1.30 to the pound. We are a long, long way from that, not in value, but in capability to return there. It suits the UK, temporarily, to have a depressed pound, as exports increase and stock market booms. However, it’s now starting the spiral downwards, with higher inflation, less spending, costlier imports, less buying power, unrest, wage demands.....

Most ordinary people are 10 - 20% worse off than they were in 2007. Obviously the world recession played a huge part in that. However, recent governments have borrowed to spend and made cuts in the wrong places. That has almost doubled the defecit. Austerity has bitten too hard and we are now faced with Brexit and all that entails. The tories had us out of hock by 2020 - hence austerity. Now, there is no hope. Those who think Corbyn’s economics are fantasy, need to look at reality and it is worse than the other.

[OhSusana]

It won't last OhSusana. Any talk of a rates increase will always stimulate a currency's standing. That's why the USD temporarily broke it's underlying downward trend yesterday and today.

The realities of EU negotiations will likely take a further toll next week.

You are right again.

Carney's little chat today dented hopes of a rate rise. Pound.... down...