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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be." Is it a surging pound or a falling dollar? How about vs the Euro? A strong pound is obviously very good indeed, but context is important | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. Is it a surging pound or a falling dollar? How about vs the Euro? A strong pound is obviously very good indeed, but context is important " It's up against the euro too in the last month by about 3cents | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023." When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. " According to Tony Blair, the bastion of truth  | |||
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"Rest of the world buying sterling as the interest rates skyrocket Not generally a thing to celebrate " You may want to look at others | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth "Feel free to debunk it. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. " Not 5.5% And the calculation has been debunked.  | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. Not 5.5% And the calculation has been debunked. "Show us the evidence then? | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth "Is it the fact we're poorer, or the exact percentage by which we are, that you are casting doubt on? | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. Not 5.5% And the calculation has been debunked. "No it hasn’t | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it. "Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Is it the fact we're poorer, or the exact percentage by which we are, that you are casting doubt on?"It's the source I'm casting doubt on. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Is it the fact we're poorer, or the exact percentage by which we are, that you are casting doubt on?"High inflation which the BoE is trying to keep in check with raising interest rates which obviously means that people will but the currency as they get a higher rate of interest. If higher rates of inflation are good then well done Brexit! | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar."Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics. I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. Not 5.5% And the calculation has been debunked.
Show us the evidence then?"The short of the large thread I posted. The 4% is an estimation from 2016 on growth. It doesn't take into account new deals. It believes we'd have net emigration.( we have the largest immigration ever) It was over a 15 year period The early measurements don't take into account France Germany Italy all missing their expected growth targets too. Italy and Germany especially as they are worse then the uk. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Is it the fact we're poorer, or the exact percentage by which we are, that you are casting doubt on?
It's the source I'm casting doubt on. "You can see for yourself that the £ hasn't recovered to pre referendum levels I suspect that the exact figure of 5.5% is an estimate at best. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Is it the fact we're poorer, or the exact percentage by which we are, that you are casting doubt on?
It's the source I'm casting doubt on.
You can see for yourself that the £ hasn't recovered to pre referendum levels
I suspect that the exact figure of 5.5% is an estimate at best. "I can see that the pound is much lower than 2016. What does that have to do with the 5.5% figure though? | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Is it the fact we're poorer, or the exact percentage by which we are, that you are casting doubt on?
It's the source I'm casting doubt on.
You can see for yourself that the £ hasn't recovered to pre referendum levels
I suspect that the exact figure of 5.5% is an estimate at best.
I can see that the pound is much lower than 2016. What does that have to do with the 5.5% figure though?"See above. I said "I suspect that the exact figure of 5.5% is an estimate at best." The point the OP is making is either. 1. I am celebrating the brexit success of the £ being worth a lot less than it was. Or. 2. A trolling post making fun of brexiteers who are celebrating the brexit success of the £ being worth a lot less than it was. This is the point of discussion. I have no option on arguments about the exact % with which we are poorer. The fact is, we are poorer as a country now. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars."John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit. My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton? | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Is it the fact we're poorer, or the exact percentage by which we are, that you are casting doubt on?
It's the source I'm casting doubt on.
You can see for yourself that the £ hasn't recovered to pre referendum levels
I suspect that the exact figure of 5.5% is an estimate at best.
I can see that the pound is much lower than 2016. What does that have to do with the 5.5% figure though?
See above. I said "I suspect that the exact figure of 5.5% is an estimate at best."
The point the OP is making is either.
1. I am celebrating the brexit success of the £ being worth a lot less than it was.
Or.
2. A trolling post making fun of brexiteers who are celebrating the brexit success of the £ being worth a lot less than it was.
This is the point of discussion.
I have no option on arguments about the exact % with which we are poorer. The fact is, we are poorer as a country now."You've lost me mate. You asked what I was casting doubt on, now you're conflating 3 separate issues. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?"Want to disprove his figures? Go right ahead. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead."How about every other economist out there? | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?"I’ll take that as a no, then. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then. "See my reply on it being debunked | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then. "I've just told you, ask any other economist. Is this how you're gonna play this one? | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?"I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant. I’m not the one avoiding here. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Is it the fact we're poorer, or the exact percentage by which we are, that you are casting doubt on?
It's the source I'm casting doubt on.
You can see for yourself that the £ hasn't recovered to pre referendum levels
I suspect that the exact figure of 5.5% is an estimate at best.
I can see that the pound is much lower than 2016. What does that have to do with the 5.5% figure though?
See above. I said "I suspect that the exact figure of 5.5% is an estimate at best."
The point the OP is making is either.
1. I am celebrating the brexit success of the £ being worth a lot less than it was.
Or.
2. A trolling post making fun of brexiteers who are celebrating the brexit success of the £ being worth a lot less than it was.
This is the point of discussion.
I have no option on arguments about the exact % with which we are poorer. The fact is, we are poorer as a country now.
You've lost me mate.
You asked what I was casting doubt on, now you're conflating 3 separate issues."Discussing the issue in the OP. I have no opinion on the accuracy of the 5.5% figure. The important pieces of information are. 1. We're poorer. 2. Some brexiteers are confused and are celebrating this. As per OP. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?
I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant.
I’m not the one avoiding here."I see what you're doing, it's old now. I've told you, every other economist disagrees, that's enough for me. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?
I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant.
I’m not the one avoiding here.
I see what you're doing, it's old now.
I've told you, every other economist disagrees, that's enough for me."‘Every other economist disagrees’? Another sweeping statement? Fancy backing that one up instead? | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?
I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant.
I’m not the one avoiding here.
I see what you're doing, it's old now.
I've told you, every other economist disagrees, that's enough for me.
‘Every other economist disagrees’?
Another sweeping statement? Fancy backing that one up instead? "Nah. Google is easy to use  | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?
I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant.
I’m not the one avoiding here."You have been told how it was debunked | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?
I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant.
I’m not the one avoiding here.
I see what you're doing, it's old now.
I've told you, every other economist disagrees, that's enough for me.
‘Every other economist disagrees’?
Another sweeping statement? Fancy backing that one up instead?
Nah. Google is easy to use "Indeed it is. Sadly it provided no proof of your statement. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?
I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant.
I’m not the one avoiding here.
I see what you're doing, it's old now.
I've told you, every other economist disagrees, that's enough for me.
‘Every other economist disagrees’?
Another sweeping statement? Fancy backing that one up instead?
Nah. Google is easy to use
Indeed it is. Sadly it provided no proof of your statement."I don't need your confirmation. It's bollocks, the end. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?
I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant.
I’m not the one avoiding here.
I see what you're doing, it's old now.
I've told you, every other economist disagrees, that's enough for me.
‘Every other economist disagrees’?
Another sweeping statement? Fancy backing that one up instead?
Nah. Google is easy to use
Indeed it is. Sadly it provided no proof of your statement.
I don't need your confirmation. It's bollocks, the end."Glad we agreed that you can’t debunk the claim. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?
I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant.
I’m not the one avoiding here.
I see what you're doing, it's old now.
I've told you, every other economist disagrees, that's enough for me.
‘Every other economist disagrees’?
Another sweeping statement? Fancy backing that one up instead?
Nah. Google is easy to use
Indeed it is. Sadly it provided no proof of your statement.
I don't need your confirmation. It's bollocks, the end.
Glad we agreed that you can’t debunk the claim. "You not replying about the debunking to me? | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?
I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant.
I’m not the one avoiding here.
I see what you're doing, it's old now.
I've told you, every other economist disagrees, that's enough for me.
‘Every other economist disagrees’?
Another sweeping statement? Fancy backing that one up instead?
Nah. Google is easy to use
Indeed it is. Sadly it provided no proof of your statement.
I don't need your confirmation. It's bollocks, the end.
Glad we agreed that you can’t debunk the claim. "Can we agree that you can't find anyone else to back that claim up too? Probably not because that's not how you work. Oh well. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?
I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant.
I’m not the one avoiding here.
I see what you're doing, it's old now.
I've told you, every other economist disagrees, that's enough for me.
‘Every other economist disagrees’?
Another sweeping statement? Fancy backing that one up instead?
Nah. Google is easy to use
Indeed it is. Sadly it provided no proof of your statement.
I don't need your confirmation. It's bollocks, the end.
Glad we agreed that you can’t debunk the claim.
Can we agree that you can't find anyone else to back that claim up too? Probably not because that's not how you work. Oh well."I didn’t say I could. I reported the findings from one economist. You’re the one who claimed they were incorrect without backing it up | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. According to Tony Blair, the bastion of truth
Feel free to debunk it.
Feel free to find others who agree with him. It's TB ffs, the guy is a proven liar.
Well, the claim is from John Springford. Apparently of Oxford and Glasgow universities, and the London school of economics.
I’d take his opinion over my own economic knowledge, but if anyone can prove him wrong I’m all wars.
John Springford works for the CER. He is not of those universities, he studied at them. That doesn't mean shit.
My daughter has an offer from Oxford. Will that make her better than someone who studies at say Southampton?
Want to disprove his figures? Go right ahead.
How about every other economist out there?
I’ll take that as a no, then.
I've just told you, ask any other economist. Is this how you're gonna play this one?
I asked you to debunk the figures. So far you’ve said TB is a liar, and educational facilities are unimportant.
I’m not the one avoiding here.
I see what you're doing, it's old now.
I've told you, every other economist disagrees, that's enough for me.
‘Every other economist disagrees’?
Another sweeping statement? Fancy backing that one up instead?
Nah. Google is easy to use
Indeed it is. Sadly it provided no proof of your statement.
I don't need your confirmation. It's bollocks, the end.
Glad we agreed that you can’t debunk the claim.
Can we agree that you can't find anyone else to back that claim up too? Probably not because that's not how you work. Oh well.
I didn’t say I could. I reported the findings from one economist. You’re the one who claimed they were incorrect without backing it up " | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be." The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. " USA interest rates have risen more. There's more to it. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. " how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows." Well, economists can predict and analyse this stuff using data. So some people definitely know - their tolerances may vary, but they can have a far better idea than the average person. Let’s be honest here, there’s nobody, literally nobody out there saying that Brexit has improved our economy. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be." "Surged" past makes it sound very exciting and positive. Like winning some kind of race. Is that what you think that it is? Which remainders "often" say that a falling pound is bad? I've only seen posts excited about rising exchange rates on here. Interest rates have risen and expected to rise further. This leads to increased inflows to deposits. That increases demand for Stirling which strengthens the currency. Cheaper to buy imports, more expensive to sell exports. Is that good for the UK? Are higher interest rates good for anyone with debt in the UK? Not really. Are they good for those with savings? Yes. Good for the economy overall? Probably not. If you think that there is a different mechanism at work, feel free to explain it. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it." Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows." Come on.... Let's be real. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real." That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? " What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Well, economists can predict and analyse this stuff using data. So some people definitely know - their tolerances may vary, but they can have a far better idea than the average person. Let’s be honest here, there’s nobody, literally nobody out there saying that Brexit has improved our economy." are these the same analysis that said labour would win and Brexit wouldn't happen just saying | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them." The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. " Yes it is, it has a lot to do with it! The people voted as they felt, you continue to downplay the ability of people who think differently from you, in fact you insult them. People voted to leave the EU for any given number of reasons, the same as people voted to stay for any given number of reasons. No way of knowing all individual reasons people voted the way they did but you insist on chirping out a one liner reason! They were fooled... How about they were not fooled, they voted for their own reasons. Not because of billionaires telling them what to do and a government with a strategy to divide and conquer.... Because they wanted to leave the EU. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. Yes it is, it has a lot to do with it! The people voted as they felt, you continue to downplay the ability of people who think differently from you, in fact you insult them. People voted to leave the EU for any given number of reasons, the same as people voted to stay for any given number of reasons. No way of knowing all individual reasons people voted the way they did but you insist on chirping out a one liner reason! They were fooled... How about they were not fooled, they voted for their own reasons. Not because of billionaires telling them what to do and a government with a strategy to divide and conquer.... Because they wanted to leave the EU." If they were not fooled, how come polling suggests there’s a sizeable amount (and increasing) of regret about the vote? Is it not likely that *some* were fooled? We of course know that some voted leave on the assumption that we’d remain in the single market and/or customs union. People are on record saying this. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. Yes it is, it has a lot to do with it! The people voted as they felt, you continue to downplay the ability of people who think differently from you, in fact you insult them. People voted to leave the EU for any given number of reasons, the same as people voted to stay for any given number of reasons. No way of knowing all individual reasons people voted the way they did but you insist on chirping out a one liner reason! They were fooled... How about they were not fooled, they voted for their own reasons. Not because of billionaires telling them what to do and a government with a strategy to divide and conquer.... Because they wanted to leave the EU. If they were not fooled, how come polling suggests there’s a sizeable amount (and increasing) of regret about the vote? Is it not likely that *some* were fooled? We of course know that some voted leave on the assumption that we’d remain in the single market and/or customs union. People are on record saying this. " Polling based on what exactly? The success of brexit? Having doubts about your vote? The line based on polls, is a little thin | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. Yes it is, it has a lot to do with it! The people voted as they felt, you continue to downplay the ability of people who think differently from you, in fact you insult them. People voted to leave the EU for any given number of reasons, the same as people voted to stay for any given number of reasons. No way of knowing all individual reasons people voted the way they did but you insist on chirping out a one liner reason! They were fooled... How about they were not fooled, they voted for their own reasons. Not because of billionaires telling them what to do and a government with a strategy to divide and conquer.... Because they wanted to leave the EU. If they were not fooled, how come polling suggests there’s a sizeable amount (and increasing) of regret about the vote? Is it not likely that *some* were fooled? We of course know that some voted leave on the assumption that we’d remain in the single market and/or customs union. People are on record saying this. Polling based on what exactly? The success of brexit? Having doubts about your vote? The line based on polls, is a little thin" Feel free to dispute the polling methodology. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. Yes it is, it has a lot to do with it! The people voted as they felt, you continue to downplay the ability of people who think differently from you, in fact you insult them. People voted to leave the EU for any given number of reasons, the same as people voted to stay for any given number of reasons. No way of knowing all individual reasons people voted the way they did but you insist on chirping out a one liner reason! They were fooled... How about they were not fooled, they voted for their own reasons. Not because of billionaires telling them what to do and a government with a strategy to divide and conquer.... Because they wanted to leave the EU. If they were not fooled, how come polling suggests there’s a sizeable amount (and increasing) of regret about the vote? Is it not likely that *some* were fooled? We of course know that some voted leave on the assumption that we’d remain in the single market and/or customs union. People are on record saying this. Polling based on what exactly? The success of brexit? Having doubts about your vote? The line based on polls, is a little thin Feel free to dispute the polling methodology. " What poll is this. Sadly with you we have to take everything with a bucket of salt. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. Yes it is, it has a lot to do with it! The people voted as they felt, you continue to downplay the ability of people who think differently from you, in fact you insult them. People voted to leave the EU for any given number of reasons, the same as people voted to stay for any given number of reasons. No way of knowing all individual reasons people voted the way they did but you insist on chirping out a one liner reason! They were fooled... How about they were not fooled, they voted for their own reasons. Not because of billionaires telling them what to do and a government with a strategy to divide and conquer.... Because they wanted to leave the EU. If they were not fooled, how come polling suggests there’s a sizeable amount (and increasing) of regret about the vote? Is it not likely that *some* were fooled? We of course know that some voted leave on the assumption that we’d remain in the single market and/or customs union. People are on record saying this. Polling based on what exactly? The success of brexit? Having doubts about your vote? The line based on polls, is a little thin Feel free to dispute the polling methodology. What poll is this. Sadly with you we have to take everything with a bucket of salt." Go to google. Type in ‘Brexit regret 2023’ then spend the rest of the evening wondering how you can spin the data into something positive. G’night. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. Yes it is, it has a lot to do with it! The people voted as they felt, you continue to downplay the ability of people who think differently from you, in fact you insult them. People voted to leave the EU for any given number of reasons, the same as people voted to stay for any given number of reasons. No way of knowing all individual reasons people voted the way they did but you insist on chirping out a one liner reason! They were fooled... How about they were not fooled, they voted for their own reasons. Not because of billionaires telling them what to do and a government with a strategy to divide and conquer.... Because they wanted to leave the EU. If they were not fooled, how come polling suggests there’s a sizeable amount (and increasing) of regret about the vote? Is it not likely that *some* were fooled? We of course know that some voted leave on the assumption that we’d remain in the single market and/or customs union. People are on record saying this. Polling based on what exactly? The success of brexit? Having doubts about your vote? The line based on polls, is a little thin Feel free to dispute the polling methodology. What poll is this. Sadly with you we have to take everything with a bucket of salt. Go to google. Type in ‘Brexit regret 2023’ then spend the rest of the evening wondering how you can spin the data into something positive. G’night. " Looking at the poll. It's more of a commentary in how the government handled it. But looking at the poll. Particularly with the aspect of tbe final question. "Brexit had the potential to be a success but the implementation of it by this and/or previous governments made it a fail" For some reason more remain voters were also interviewed. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth " You "state" a lot. That doesn't make any of it sensible. What makes higher currency exchange rate "better"? You are correct that the UK was put in a deep hole after the disaster of the brief Truss administration that crashed the currency and spooked the markets. Much of the gains are due to a more stable and predictable economic policy in place. Even if you don't like it. Rising interest rates and inflation are also affecting and expecting to affect UK growth. They may or may not tip us into the recession that we narrowly skirted. You still seem to struggle with the concept of anticipation in economics. You don't believe that happens? That is why the term "long" or "short" exists, is it not? | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth You "state" a lot. That doesn't make any of it sensible. What makes higher currency exchange rate "better"? You are correct that the UK was put in a deep hole after the disaster of the brief Truss administration that crashed the currency and spooked the markets. Much of the gains are due to a more stable and predictable economic policy in place. Even if you don't like it. Rising interest rates and inflation are also affecting and expecting to affect UK growth. They may or may not tip us into the recession that we narrowly skirted. You still seem to struggle with the concept of anticipation in economics. You don't believe that happens? That is why the term "long" or "short" exists, is it not?" As I have stated before. You don't necessarily want an always straightening currency. Each currency should have its level. As I previously stated. That level for me is about $1.5-1.6 to the £ and €1.3 euros to the £ No one mentioned the Truss budget. You're projecting. Again though. Since history escapes you. The emergency budget was announced on September 23rd. The currency dipped to 1.1145,by October 2nd it was back where it was. So I'm not exactly sure what effects you're talking about. The pound had dipped from 1.19 to 1.13before the " disaster budget" So again. You seem to be way off on your analysis maybe you need to go and re look? The gains have come about because of the possibility of the debt ceiling not being reaches vs the dollar, this happened in 2013/14 the last time the usa threatened to default.( you really don't seem to know much about your currency history) A more stable economy that has gilts at the same level Truss budget had them. 
Where the currency was back in place within a week?
Hmmm.
You're adding 2 and 2 and getting sandwich.
You mention interest rates and inflation. But what you fail to understand is this actually leaves the bofe and uk economy in a more of a catch 22 because they don't want to raise rates further it will inhibit growth and therefore the forecasts will be worse.( and thus shorts come back) and you don't want inflation to carry on. So you are on the one hand saying the uk economy is doing well, because of the budget and long term expectations..but that interest rates and inflation means we are teetering on recession. You are having your cake and eating it here easy. In 2 paragraphs you've completely contradicted yourself.
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Dont give up the day job pal | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth You "state" a lot. That doesn't make any of it sensible. What makes higher currency exchange rate "better"? You are correct that the UK was put in a deep hole after the disaster of the brief Truss administration that crashed the currency and spooked the markets. Much of the gains are due to a more stable and predictable economic policy in place. Even if you don't like it. Rising interest rates and inflation are also affecting and expecting to affect UK growth. They may or may not tip us into the recession that we narrowly skirted. You still seem to struggle with the concept of anticipation in economics. You don't believe that happens? That is why the term "long" or "short" exists, is it not? As I have stated before. You don't necessarily want an always straightening currency. Each currency should have its level. As I previously stated. That level for me is about $1.5-1.6 to the £ and €1.3 euros to the £ No one mentioned the Truss budget. You're projecting. Again though. Since history escapes you. The emergency budget was announced on September 23rd. The currency dipped to 1.1145,by October 2nd it was back where it was. So I'm not exactly sure what effects you're talking about. The pound had dipped from 1.19 to 1.13before the " disaster budget" So again. You seem to be way off on your analysis maybe you need to go and re look? The gains have come about because of the possibility of the debt ceiling not being reaches vs the dollar, this happened in 2013/14 the last time the usa threatened to default.( you really don't seem to know much about your currency history) A more stable economy that has gilts at the same level Truss budget had them.
Where the currency was back in place within a week?
Hmmm.
You're adding 2 and 2 and getting sandwich.
You mention interest rates and inflation. But what you fail to understand is this actually leaves the bofe and uk economy in a more of a catch 22 because they don't want to raise rates further it will inhibit growth and therefore the forecasts will be worse.( and thus shorts come back) and you don't want inflation to carry on. So you are on the one hand saying the uk economy is doing well, because of the budget and long term expectations..but that interest rates and inflation means we are teetering on recession. You are having your cake and eating it here easy. In 2 paragraphs you've completely contradicted yourself.
"Emojis and grandiose pronouncements don't cover your struggle with economic basics. You are cribbing again, but not honest enough to say where from. At least you recognise that a "strong" currency is not something to be excited about. It has both positive and negative consequences for individuals, companies and economies. A floating currency floats due to events both domestic and foreign some controllable. Some not. Nobody cares what the "level for you" is. Literally nobody and it is a meaningless pronouncement. This is City AMs take on this. You like City AM, right? Perhaps you know better? "Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation." "The big picture is that investors now expect both interest rates and inflation to remain “higher for longer” in the UK,” Adam Hoyes, markets economist at consultancy Capital Economics, said. If markets are correct, then UK rates would top America’s, meaning investors could earn a greater rate of return on British assets – capitalising on the so-called “yield differential”. Traders are therefore hoovering up pounds to buy UK assets, pushing the currency higher against the US dollar. Yields on UK gilts have raced to above the level reached in the days after Liz Truss’s £45bn tax-cutting mini budget in September 2022 and are higher than returns offered on their US equivalent at around 4.8 per cent. Sterling collapsed to its lowest level ever against the greenback in the weeks after that haphazard fiscal event last autumn despite yields rising rapidly, a characteristic that is normally associated with an emerging market economy. Hoyes said the threat of recession in the UK and a global “flight to safety” should cause the pound to retrace some of its gains against the dollar. “The boost from yield differentials over the past few weeks has taken sterling close to its strongest level in a year against the US dollar. But we don’t anticipate that lasting. Alongside the fading influence of favourable yield differentials, we expect a broader strengthening in the greenback on the back of safe-haven flows to lead to a weaker pound by the end of this year,” he said." https://www.cityam.com/pound-hits-highest-level-against-us-dollar-in-over-a-year-as-traders-bet-bank-of-england-will-outmuscle-fed/ Are they wrong? Do you know better? The US debt ceiling bill was passed at the begining of June that was a local peak in the exchange rate. That will not be revisited until 2025. There is a US Presidential election before that happens so a far bigger destabilised to pass firat. It's no longer pertinent. You cannot see that there is a difference between a steady change to any economic measure and a spike? The former is due to steady and expected change. The later due to shocks. Anticipation of events still not something you can get your head around? The Pound fell over a period of uncertainty during the Tory leadership election and in the lead up to the fiscal event when it was being hinted what might happen. The reality was even worse causing a sharp fall. That is how the market functions. Gilt yields are now rising with current and anticipated interest rates due to high inflation. That's normal. They spiked with Truss' budget because of the market not accepting unfunded tax cuts. The market was spooked. Abnormal. The fact that they are higher now is due to a normal economic mechanism rather than a panic. Yes, the Bank of England, like most central banks, are always balancing inflation with recession if the most significant tool they have to play with is interest rates. Well done you. I haven't said anything about the UK economy doing well or badly. I wrote that the economy is more stable than it was when Truss panicked the markets. That is not the same as doing well. It can be more stable and narrowly missing recession. That is what the multiple quarters of close to zero growth represent. Stable stagnation. | |||
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"Absolutely pissing myself at the contradiction above. You keep going easy. On the 1 hand shorts and logos like the budget and are predicting growth for the uk. But on the other they're skeptical about the inflation and the pound And this is why long positions have increased 200%
Dont give up the day job pal"As you do not actually seem to understand the very basics your attempt at derision just doesn't work. Want to read City AM again and explain why they should give up their day jobs too? | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Well, economists can predict and analyse this stuff using data. So some people definitely know - their tolerances may vary, but they can have a far better idea than the average person. Let’s be honest here, there’s nobody, literally nobody out there saying that Brexit has improved our economy.are these the same analysis that said labour would win and Brexit wouldn't happen just saying " No. Political pundits and economists are different groups of people. Just saying. Is anyone saying that Brexit has been a success to date? Which economists are indicating that the net economic benefits of leaving a major trading block will "ripen"? There was only a brief period of a couple of decades that the UK was outside a major trading block and the economy did not fair very well during that time. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. Yes it is, it has a lot to do with it! The people voted as they felt, you continue to downplay the ability of people who think differently from you, in fact you insult them. " Where have I insulted anyone? You've made that up. " People voted to leave the EU for any given number of reasons, the same as people voted to stay for any given number of reasons. No way of knowing all individual reasons people voted the way they did but you insist on chirping out a one liner reason! They were fooled... " Yes, does it matter which con/lie the believed? It doesn't to me. The vast majority thought there would be some kind of benefit to being out of the EU, this was never the case. Demonstrably. I understand there is the odd person who actively wanted brexit because they knew it would be shit. " How about they were not fooled, they voted for their own reasons. Not because of billionaires telling them what to do and a government with a strategy to divide and conquer.... Because they wanted to leave the EU." Yes. Not sure what your beef is. Everyone had a different reason for voting to leave the EU. Voting leave was a poor decision for all of us. We all lost. The specific reason or false brexit benefit each person voted for isn't that interesting to me. I don't know why you feel like anyone is being insulted. The blame lies squarely on those who lied to the electorate. In my opinion. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. Yes it is, it has a lot to do with it! The people voted as they felt, you continue to downplay the ability of people who think differently from you, in fact you insult them. Where have I insulted anyone? You've made that up. People voted to leave the EU for any given number of reasons, the same as people voted to stay for any given number of reasons. No way of knowing all individual reasons people voted the way they did but you insist on chirping out a one liner reason! They were fooled... Yes, does it matter which con/lie the believed? It doesn't to me. The vast majority thought there would be some kind of benefit to being out of the EU, this was never the case. Demonstrably. I understand there is the odd person who actively wanted brexit because they knew it would be shit. How about they were not fooled, they voted for their own reasons. Not because of billionaires telling them what to do and a government with a strategy to divide and conquer.... Because they wanted to leave the EU. Yes. Not sure what your beef is. Everyone had a different reason for voting to leave the EU. Voting leave was a poor decision for all of us. We all lost. The specific reason or false brexit benefit each person voted for isn't that interesting to me. I don't know why you feel like anyone is being insulted. The blame lies squarely on those who lied to the electorate. In my opinion." | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be." OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. Yes it is, it has a lot to do with it! The people voted as they felt, you continue to downplay the ability of people who think differently from you, in fact you insult them. Where have I insulted anyone? You've made that up. People voted to leave the EU for any given number of reasons, the same as people voted to stay for any given number of reasons. No way of knowing all individual reasons people voted the way they did but you insist on chirping out a one liner reason! They were fooled... Yes, does it matter which con/lie the believed? It doesn't to me. The vast majority thought there would be some kind of benefit to being out of the EU, this was never the case. Demonstrably. I understand there is the odd person who actively wanted brexit because they knew it would be shit. How about they were not fooled, they voted for their own reasons. Not because of billionaires telling them what to do and a government with a strategy to divide and conquer.... Because they wanted to leave the EU. Yes. Not sure what your beef is. Everyone had a different reason for voting to leave the EU. Voting leave was a poor decision for all of us. We all lost. The specific reason or false brexit benefit each person voted for isn't that interesting to me. I don't know why you feel like anyone is being insulted. The blame lies squarely on those who lied to the electorate. In my opinion." The majority of the electorate know that no one lied to them. They will have simply listened to both sides or the arguments, assessed their validity and voted accordingly We will have initially incurred some additional costs but these can be offset against the long term benefits of the project. Last time I checked we stil trade with the EU , just under slightly different terms. . Ths costs of few extra bits of administration can be offset other long term benefits. Not only do we continue to trade with the EU but we can now trade with countries outside the EU on our terns Removal of freedom of movement is another significant benefit. Companies will now have to focus on capital investment as opposed to using cheap labour. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. " Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. | |||
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"Brexiteers celebrating the pound being worth a lot less than it was prior to the referendum result slump tells us a lot about the state of Britain in 2023. When your economy is 5.5% poorer than it would have been in the event of a remain outcome, you’ve got to celebrate where you can, I guess. how do we know how it would have performed it could have been 10%lower or 5%higher nobody knows. Come on.... Let's be real. That is the best thing I’ve seen you post on here! Right you go first, did the government or the people decide to stay or leave the EU? Last question in keeping it real, then you can spin it to me: when a country decides to leave a trading bloc, do you expect to see immediate benefits or would expect trade and negotiations to ripen over time? What's this got to do with anything? People voted leave. They were told "There will be no downside to Brexit, only a considerable upside". It's only recently when project fear has become reality that people are changing to "erm.... Well.... You know this is going to take a long time. We didn't really think it would be an immediate success, even though that's what we were saying back at the referendum". I'm paraphrasing. All this is not relevant to the question of brexit being very costly to the UK and British people. Yes it is, it has a lot to do with it! The people voted as they felt, you continue to downplay the ability of people who think differently from you, in fact you insult them. Where have I insulted anyone? You've made that up. People voted to leave the EU for any given number of reasons, the same as people voted to stay for any given number of reasons. No way of knowing all individual reasons people voted the way they did but you insist on chirping out a one liner reason! They were fooled... Yes, does it matter which con/lie the believed? It doesn't to me. The vast majority thought there would be some kind of benefit to being out of the EU, this was never the case. Demonstrably. I understand there is the odd person who actively wanted brexit because they knew it would be shit. How about they were not fooled, they voted for their own reasons. Not because of billionaires telling them what to do and a government with a strategy to divide and conquer.... Because they wanted to leave the EU. Yes. Not sure what your beef is. Everyone had a different reason for voting to leave the EU. Voting leave was a poor decision for all of us. We all lost. The specific reason or false brexit benefit each person voted for isn't that interesting to me. I don't know why you feel like anyone is being insulted. The blame lies squarely on those who lied to the electorate. In my opinion. The majority of the electorate know that no one lied to them. They will have simply listened to both sides or the arguments, assessed their validity and voted accordingly We will have initially incurred some additional costs but these can be offset against the long term benefits of the project. Last time I checked we stil trade with the EU , just under slightly different terms. . Ths costs of few extra bits of administration can be offset other long term benefits. Not only do we continue to trade with the EU but we can now trade with countries outside the EU on our terns Removal of freedom of movement is another significant benefit. Companies will now have to focus on capital investment as opposed to using cheap labour. " Absolutely savage. Fair play to you. And I was being insulting! | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help." You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. | |||
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"Good luck OP trying to promote some good news stories. In fact there is plenty of good news in our national life. But Brits prefer to seek out negative news and moan. Must be in our DNA LOL " Britain doesn't have the reputation as the world's biggest moaners for no reason | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. " There is an interesting article in the Telegraph this morning by Robert Tombs, in which he suggests that Remainers routinely spew out factual inaccuracies and seem to have given up on caring whether what they say has any factual basis or not. His view is that Remainers actually don't really care whether we are in the EU or not, and have no idea themselves why they want to be in it. What they are really concerned about is social and cultural control over the plebs. That's very much been my experience of the hardcore Remainers that I know. The vast majority of Remainers I know voted Remain but accepted the result and don't really care. There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. There is an interesting article in the Telegraph this morning by Robert Tombs, in which he suggests that Remainers routinely spew out factual inaccuracies and seem to have given up on caring whether what they say has any factual basis or not. His view is that Remainers actually don't really care whether we are in the EU or not, and have no idea themselves why they want to be in it. What they are really concerned about is social and cultural control over the plebs. That's very much been my experience of the hardcore Remainers that I know. The vast majority of Remainers I know voted Remain but accepted the result and don't really care. There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? " My view is that you are either. A. Trolling brexiteers by posting the most ridiculous pro-brexit nonsense you can think of, for example your OP. Or B. You're so desperate for brexit to be viewed as a success that you lash out against anyone who points out the reality of the impacts of leaving the EU. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help." This is as simple as it gets. High interest rates are like a pacemaker. On the outside, the heart appears to be beating perfectly healthily. Take away the pacemaker and then you see the true health of the heart. Our economy is in deep, deep trouble and it is going to get worse. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. There is an interesting article in the Telegraph this morning by Robert Tombs, in which he suggests that Remainers routinely spew out factual inaccuracies and seem to have given up on caring whether what they say has any factual basis or not. His view is that Remainers actually don't really care whether we are in the EU or not, and have no idea themselves why they want to be in it. What they are really concerned about is social and cultural control over the plebs. That's very much been my experience of the hardcore Remainers that I know. The vast majority of Remainers I know voted Remain but accepted the result and don't really care. There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? " The Telegraph ? | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. There is an interesting article in the Telegraph this morning by Robert Tombs, in which he suggests that Remainers routinely spew out factual inaccuracies and seem to have given up on caring whether what they say has any factual basis or not. His view is that Remainers actually don't really care whether we are in the EU or not, and have no idea themselves why they want to be in it. What they are really concerned about is social and cultural control over the plebs. That's very much been my experience of the hardcore Remainers that I know. The vast majority of Remainers I know voted Remain but accepted the result and don't really care. There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? The Telegraph ? "I'm sure there is some kind of reader that can read it out for you, if you struggle with the long words. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. There is an interesting article in the Telegraph this morning by Robert Tombs, in which he suggests that Remainers routinely spew out factual inaccuracies and seem to have given up on caring whether what they say has any factual basis or not. His view is that Remainers actually don't really care whether we are in the EU or not, and have no idea themselves why they want to be in it. What they are really concerned about is social and cultural control over the plebs. That's very much been my experience of the hardcore Remainers that I know. The vast majority of Remainers I know voted Remain but accepted the result and don't really care. There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? The Telegraph ? "Forget the source and look at the author. Here's what the Guardian think of Robert Tombs. https://www.theguardian.com/books/2021/jan/30/the-sovereign-isle-by-robert-tombs-review-is-this-the-best-case-for-brexit | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. This is as simple as it gets. High interest rates are like a pacemaker. On the outside, the heart appears to be beating perfectly healthily. Take away the pacemaker and then you see the true health of the heart. Our economy is in deep, deep trouble and it is going to get worse. " Oh I've no doubt at all it's going to get worse, we would just disagree a) as to the causes and b) what the solutions are. You think that the cause is Brexit and the solution is the EU. That's patent simplistic nonsense. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. There is an interesting article in the Telegraph this morning by Robert Tombs, in which he suggests that Remainers routinely spew out factual inaccuracies and seem to have given up on caring whether what they say has any factual basis or not. His view is that Remainers actually don't really care whether we are in the EU or not, and have no idea themselves why they want to be in it. What they are really concerned about is social and cultural control over the plebs. That's very much been my experience of the hardcore Remainers that I know. The vast majority of Remainers I know voted Remain but accepted the result and don't really care. There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? The Telegraph ?
I'm sure there is some kind of reader that can read it out for you, if you struggle with the long words."The Telegraph? May aswell read the daily Sport (if it was still being published) | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. There is an interesting article in the Telegraph this morning by Robert Tombs, in which he suggests that Remainers routinely spew out factual inaccuracies and seem to have given up on caring whether what they say has any factual basis or not. His view is that Remainers actually don't really care whether we are in the EU or not, and have no idea themselves why they want to be in it. What they are really concerned about is social and cultural control over the plebs. That's very much been my experience of the hardcore Remainers that I know. The vast majority of Remainers I know voted Remain but accepted the result and don't really care. There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? The Telegraph ?
Forget the source and look at the author.
Here's what the Guardian think of Robert Tombs.
https://www.theguardian.com/books/2021/jan/30/the-sovereign-isle-by-robert-tombs-review-is-this-the-best-case-for-brexit"The Guardian? Aren't they slav ers? How are women treated there? Do they have any journalists who weren't at public school? | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. There is an interesting article in the Telegraph this morning by Robert Tombs, in which he suggests that Remainers routinely spew out factual inaccuracies and seem to have given up on caring whether what they say has any factual basis or not. His view is that Remainers actually don't really care whether we are in the EU or not, and have no idea themselves why they want to be in it. What they are really concerned about is social and cultural control over the plebs. That's very much been my experience of the hardcore Remainers that I know. The vast majority of Remainers I know voted Remain but accepted the result and don't really care. There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? My view is that you are either. A. Trolling brexiteers by posting the most ridiculous pro-brexit nonsense you can think of, for example your OP. Or B. You're so desperate for brexit to be viewed as a success that you lash out against anyone who points out the reality of the impacts of leaving the EU. " Why did people vote for Brexit in your opinion? What cause and effect do you see from prior governments and policies? What responsibilities do the Remain campaign and Remain campaigners have? Try a little self analysis, and perhaps something a little deeper and more complex than "thick racists" and "lies". | |||
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"There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? " You regularly bring up public sector jobs. It’s a bit weird. Envious? Also given that public sector pay is on average lower than private, isn’t it more likely to be private sector staff who can afford private schooling for their children and second homes? | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. There is an interesting article in the Telegraph this morning by Robert Tombs, in which he suggests that Remainers routinely spew out factual inaccuracies and seem to have given up on caring whether what they say has any factual basis or not. His view is that Remainers actually don't really care whether we are in the EU or not, and have no idea themselves why they want to be in it. What they are really concerned about is social and cultural control over the plebs. That's very much been my experience of the hardcore Remainers that I know. The vast majority of Remainers I know voted Remain but accepted the result and don't really care. There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? The Telegraph ?
Forget the source and look at the author.
Here's what the Guardian think of Robert Tombs.
https://www.theguardian.com/books/2021/jan/30/the-sovereign-isle-by-robert-tombs-review-is-this-the-best-case-for-brexit
The Guardian?
Aren't they slav ers? How are women treated there? Do they have any journalists who weren't at public school?"Just giving a view from the left. The Telegraph is always rubbished and the Guardian pinned up so giving him his own bias perspective. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. This is as simple as it gets. High interest rates are like a pacemaker. On the outside, the heart appears to be beating perfectly healthily. Take away the pacemaker and then you see the true health of the heart. Our economy is in deep, deep trouble and it is going to get worse. Oh I've no doubt at all it's going to get worse, we would just disagree a) as to the causes and b) what the solutions are. You think that the cause is Brexit and the solution is the EU. That's patent simplistic nonsense." I’d actually say that the cause is criminally incompetent governance as opposed to Brexit alone. By that definition the answer is not only rejoining the Eu which will not happen in my lifetime anyway. Keep trying. | |||
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"Good luck OP trying to promote some good news stories. In fact there is plenty of good news in our national life. But Brits prefer to seek out negative news and moan. Must be in our DNA LOL Britain doesn't have the reputation as the world's biggest moaners for no reason "Indeed so. Every silver lining has a cloud in the UK. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. There is an interesting article in the Telegraph this morning by Robert Tombs, in which he suggests that Remainers routinely spew out factual inaccuracies and seem to have given up on caring whether what they say has any factual basis or not. His view is that Remainers actually don't really care whether we are in the EU or not, and have no idea themselves why they want to be in it. What they are really concerned about is social and cultural control over the plebs. That's very much been my experience of the hardcore Remainers that I know. The vast majority of Remainers I know voted Remain but accepted the result and don't really care. There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? " I think that this article could have been written almost word for word but about leavers. The vote was almost 50 50. And that was a snap shot in time. Most people wouldn't have the EU high up there "things I care about list". People worship at the anti brexit altar. One can easily believe that many leavers don't care about leaving but want to use brexit as a way or having controls over the proles. They just did it better. In that way the article is close to double think in itself. The people in power believe in brexit, and aren't using it as a tool to get power. But anyone who doesn't believe in brexit only does so because they want power. (Final thought: I wish papers put in sources for their claims. No excuse online. And while I get why they don't, links to others they are citing. He misrepresented the guardian view imo) | |||
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"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. " Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain. | |||
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"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain." Give me the average for the year, | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth You "state" a lot. That doesn't make any of it sensible. What makes higher currency exchange rate "better"? You are correct that the UK was put in a deep hole after the disaster of the brief Truss administration that crashed the currency and spooked the markets. Much of the gains are due to a more stable and predictable economic policy in place. Even if you don't like it. Rising interest rates and inflation are also affecting and expecting to affect UK growth. They may or may not tip us into the recession that we narrowly skirted. You still seem to struggle with the concept of anticipation in economics. You don't believe that happens? That is why the term "long" or "short" exists, is it not? As I have stated before. You don't necessarily want an always straightening currency. Each currency should have its level. As I previously stated. That level for me is about $1.5-1.6 to the £ and €1.3 euros to the £ No one mentioned the Truss budget. You're projecting. Again though. Since history escapes you. The emergency budget was announced on September 23rd. The currency dipped to 1.1145,by October 2nd it was back where it was. So I'm not exactly sure what effects you're talking about. The pound had dipped from 1.19 to 1.13before the " disaster budget" So again. You seem to be way off on your analysis maybe you need to go and re look? The gains have come about because of the possibility of the debt ceiling not being reaches vs the dollar, this happened in 2013/14 the last time the usa threatened to default.( you really don't seem to know much about your currency history) A more stable economy that has gilts at the same level Truss budget had them.
Where the currency was back in place within a week?
Hmmm.
You're adding 2 and 2 and getting sandwich.
You mention interest rates and inflation. But what you fail to understand is this actually leaves the bofe and uk economy in a more of a catch 22 because they don't want to raise rates further it will inhibit growth and therefore the forecasts will be worse.( and thus shorts come back) and you don't want inflation to carry on. So you are on the one hand saying the uk economy is doing well, because of the budget and long term expectations..but that interest rates and inflation means we are teetering on recession. You are having your cake and eating it here easy. In 2 paragraphs you've completely contradicted yourself.
Emojis and grandiose pronouncements don't cover your struggle with economic basics.
You are cribbing again, but not honest enough to say where from.
At least you recognise that a "strong" currency is not something to be excited about. It has both positive and negative consequences for individuals, companies and economies.
A floating currency floats due to events both domestic and foreign some controllable. Some not. Nobody cares what the "level for you" is. Literally nobody and it is a meaningless pronouncement.
This is City AMs take on this. You like City AM, right? Perhaps you know better?
"Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation."
"The big picture is that investors now expect both interest rates and inflation to remain “higher for longer” in the UK,” Adam Hoyes, markets economist at consultancy Capital Economics, said.
If markets are correct, then UK rates would top America’s, meaning investors could earn a greater rate of return on British assets – capitalising on the so-called “yield differential”.
Traders are therefore hoovering up pounds to buy UK assets, pushing the currency higher against the US dollar.
Yields on UK gilts have raced to above the level reached in the days after Liz Truss’s £45bn tax-cutting mini budget in September 2022 and are higher than returns offered on their US equivalent at around 4.8 per cent.
Sterling collapsed to its lowest level ever against the greenback in the weeks after that haphazard fiscal event last autumn despite yields rising rapidly, a characteristic that is normally associated with an emerging market economy.
Hoyes said the threat of recession in the UK and a global “flight to safety” should cause the pound to retrace some of its gains against the dollar.
“The boost from yield differentials over the past few weeks has taken sterling close to its strongest level in a year against the US dollar. But we don’t anticipate that lasting. Alongside the fading influence of favourable yield differentials, we expect a broader strengthening in the greenback on the back of safe-haven flows to lead to a weaker pound by the end of this year,” he said."
https://www.cityam.com/pound-hits-highest-level-against-us-dollar-in-over-a-year-as-traders-bet-bank-of-england-will-outmuscle-fed/
Are they wrong? Do you know better?
The US debt ceiling bill was passed at the begining of June that was a local peak in the exchange rate. That will not be revisited until 2025. There is a US Presidential election before that happens so a far bigger destabilised to pass firat. It's no longer pertinent.
You cannot see that there is a difference between a steady change to any economic measure and a spike? The former is due to steady and expected change. The later due to shocks.
Anticipation of events still not something you can get your head around? The Pound fell over a period of uncertainty during the Tory leadership election and in the lead up to the fiscal event when it was being hinted what might happen. The reality was even worse causing a sharp fall. That is how the market functions.
Gilt yields are now rising with current and anticipated interest rates due to high inflation. That's normal.
They spiked with Truss' budget because of the market not accepting unfunded tax cuts. The market was spooked. Abnormal.
The fact that they are higher now is due to a normal economic mechanism rather than a panic.
Yes, the Bank of England, like most central banks, are always balancing inflation with recession if the most significant tool they have to play with is interest rates. Well done you.
I haven't said anything about the UK economy doing well or badly. I wrote that the economy is more stable than it was when Truss panicked the markets. That is not the same as doing well. It can be more stable and narrowly missing recession. That is what the multiple quarters of close to zero growth represent. Stable stagnation."You see the problem here easy is the uk pound has been moving up agains thr edollar for a while. You are taking 1 days trading and article as an indicator for several weeks of short positions closing and long positions going g up. See for the last 2 months it's gone form 1.18 to 1.28 and you're attieubiti g thay to sentiment 1 week out. Sadly thats not the case. I can see you Google very well. But as we discussed this is a long term effect. This is from October lows of 1.07 This isn't all riven by interest rates. Agai if it were. The usa has higher rates and thus would not have seen it position weaken. It's a shame you comment on something you know absolutely f all about. | |||
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Don't quit the day job easy. Like I said. | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth You "state" a lot. That doesn't make any of it sensible. What makes higher currency exchange rate "better"? You are correct that the UK was put in a deep hole after the disaster of the brief Truss administration that crashed the currency and spooked the markets. Much of the gains are due to a more stable and predictable economic policy in place. Even if you don't like it. Rising interest rates and inflation are also affecting and expecting to affect UK growth. They may or may not tip us into the recession that we narrowly skirted. You still seem to struggle with the concept of anticipation in economics. You don't believe that happens? That is why the term "long" or "short" exists, is it not? As I have stated before. You don't necessarily want an always straightening currency. Each currency should have its level. As I previously stated. That level for me is about $1.5-1.6 to the £ and €1.3 euros to the £ No one mentioned the Truss budget. You're projecting. Again though. Since history escapes you. The emergency budget was announced on September 23rd. The currency dipped to 1.1145,by October 2nd it was back where it was. So I'm not exactly sure what effects you're talking about. The pound had dipped from 1.19 to 1.13before the " disaster budget" So again. You seem to be way off on your analysis maybe you need to go and re look? The gains have come about because of the possibility of the debt ceiling not being reaches vs the dollar, this happened in 2013/14 the last time the usa threatened to default.( you really don't seem to know much about your currency history) A more stable economy that has gilts at the same level Truss budget had them.
Where the currency was back in place within a week?
Hmmm.
You're adding 2 and 2 and getting sandwich.
You mention interest rates and inflation. But what you fail to understand is this actually leaves the bofe and uk economy in a more of a catch 22 because they don't want to raise rates further it will inhibit growth and therefore the forecasts will be worse.( and thus shorts come back) and you don't want inflation to carry on. So you are on the one hand saying the uk economy is doing well, because of the budget and long term expectations..but that interest rates and inflation means we are teetering on recession. You are having your cake and eating it here easy. In 2 paragraphs you've completely contradicted yourself.
Emojis and grandiose pronouncements don't cover your struggle with economic basics.
You are cribbing again, but not honest enough to say where from.
At least you recognise that a "strong" currency is not something to be excited about. It has both positive and negative consequences for individuals, companies and economies.
A floating currency floats due to events both domestic and foreign some controllable. Some not. Nobody cares what the "level for you" is. Literally nobody and it is a meaningless pronouncement.
This is City AMs take on this. You like City AM, right? Perhaps you know better?
"Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation."
"The big picture is that investors now expect both interest rates and inflation to remain “higher for longer” in the UK,” Adam Hoyes, markets economist at consultancy Capital Economics, said.
If markets are correct, then UK rates would top America’s, meaning investors could earn a greater rate of return on British assets – capitalising on the so-called “yield differential”.
Traders are therefore hoovering up pounds to buy UK assets, pushing the currency higher against the US dollar.
Yields on UK gilts have raced to above the level reached in the days after Liz Truss’s £45bn tax-cutting mini budget in September 2022 and are higher than returns offered on their US equivalent at around 4.8 per cent.
Sterling collapsed to its lowest level ever against the greenback in the weeks after that haphazard fiscal event last autumn despite yields rising rapidly, a characteristic that is normally associated with an emerging market economy.
Hoyes said the threat of recession in the UK and a global “flight to safety” should cause the pound to retrace some of its gains against the dollar.
“The boost from yield differentials over the past few weeks has taken sterling close to its strongest level in a year against the US dollar. But we don’t anticipate that lasting. Alongside the fading influence of favourable yield differentials, we expect a broader strengthening in the greenback on the back of safe-haven flows to lead to a weaker pound by the end of this year,” he said."
https://www.cityam.com/pound-hits-highest-level-against-us-dollar-in-over-a-year-as-traders-bet-bank-of-england-will-outmuscle-fed/
Are they wrong? Do you know better?
The US debt ceiling bill was passed at the begining of June that was a local peak in the exchange rate. That will not be revisited until 2025. There is a US Presidential election before that happens so a far bigger destabilised to pass firat. It's no longer pertinent.
You cannot see that there is a difference between a steady change to any economic measure and a spike? The former is due to steady and expected change. The later due to shocks.
Anticipation of events still not something you can get your head around? The Pound fell over a period of uncertainty during the Tory leadership election and in the lead up to the fiscal event when it was being hinted what might happen. The reality was even worse causing a sharp fall. That is how the market functions.
Gilt yields are now rising with current and anticipated interest rates due to high inflation. That's normal.
They spiked with Truss' budget because of the market not accepting unfunded tax cuts. The market was spooked. Abnormal.
The fact that they are higher now is due to a normal economic mechanism rather than a panic.
Yes, the Bank of England, like most central banks, are always balancing inflation with recession if the most significant tool they have to play with is interest rates. Well done you.
I haven't said anything about the UK economy doing well or badly. I wrote that the economy is more stable than it was when Truss panicked the markets. That is not the same as doing well. It can be more stable and narrowly missing recession. That is what the multiple quarters of close to zero growth represent. Stable stagnation.
You see the problem here easy is the uk pound has been moving up agains thr edollar for a while. You are taking 1 days trading and article as an indicator for several weeks of short positions closing and long positions going g up.
See for the last 2 months it's gone form 1.18 to 1.28 and you're attieubiti g thay to sentiment 1 week out.
Sadly thats not the case. I can see you Google very well. But as we discussed this is a long term effect. This is from October lows of 1.07
This isn't all riven by interest rates. Agai if it were. The usa has higher rates and thus would not have seen it position weaken.
It's a shame you comment on something you know absolutely f all about.
"You copied that from your fictional Twitter mentor | |||
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"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain." It depends why the pound is weak or strong. A strong economy is usually one where people invest into the country i.e. they have confidence in the economy and want to be part of what they see is growth and prosperity. This means that money comes into the country and the pound normally gets stronger. As had been said often on this forum recently, the higher value of the pound that we are currently seeing is due to high interest rates. High interest rates, in this case, are partially caused by inflation which has been caused by a number of things including the war in Ukraine. Our spell with Truss as PM certainly didn't help either. There are many other reasons as well. In my opinion, the current situation is not a sign of a strong economy. It is an economy that is trying to get back on its feet before inflation goes up even further which will lead to hardship for many many people. | |||
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"Good luck OP trying to promote some good news stories. In fact there is plenty of good news in our national life. But Brits prefer to seek out negative news and moan. Must be in our DNA LOL " What makes the exchange rate rising under these circumstances "good news"? | |||
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"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain. It depends why the pound is weak or strong. A strong economy is usually one where people invest into the country i.e. they have confidence in the economy and want to be part of what they see is growth and prosperity. This means that money comes into the country and the pound normally gets stronger. As had been said often on this forum recently, the higher value of the pound that we are currently seeing is due to high interest rates. High interest rates, in this case, are partially caused by inflation which has been caused by a number of things including the war in Ukraine. Our spell with Truss as PM certainly didn't help either. There are many other reasons as well. In my opinion, the current situation is not a sign of a strong economy. It is an economy that is trying to get back on its feet before inflation goes up even further which will lead to hardship for many many people." Truss had no impact. Especially not now. Any initial vitality unwound by December. | |||
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"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain. It depends why the pound is weak or strong. A strong economy is usually one where people invest into the country i.e. they have confidence in the economy and want to be part of what they see is growth and prosperity. This means that money comes into the country and the pound normally gets stronger. As had been said often on this forum recently, the higher value of the pound that we are currently seeing is due to high interest rates. High interest rates, in this case, are partially caused by inflation which has been caused by a number of things including the war in Ukraine. Our spell with Truss as PM certainly didn't help either. There are many other reasons as well. In my opinion, the current situation is not a sign of a strong economy. It is an economy that is trying to get back on its feet before inflation goes up even further which will lead to hardship for many many people. Truss had no impact. Especially not now. Any initial vitality unwound by December." Thank you for clarifying that. | |||
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"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain." You are the one saying that the pound "surging" against the dollar is a good thing. Perhaps you should tell us all why? | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be." It can be both good and bad as far as I see. On the positive side when it goes down it will make exports to other countries cheaper and more attractive so can help in that respect. When it goes up, exports are less attractive but imports become cheaper. I believe oil is traded in dollars so in theory a rise against the dollar makes oil imports cheaper. The only thing that seems constant is that which ever direction it goes, some will say it's bad | |||
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"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain. You are the one saying that the pound "surging" against the dollar is a good thing. Perhaps you should tell us all why?" We are often subjected to OP's from people who are patently clueless about economics, cheering on a fall in the £ against the $ from 1.25 to 1.24 as being caused by "Brexit" and being cataclysmic. But it's fascinating that a fall is bad news due to Brexit, and an increase is bad news due to something else. It's almost as though you desperately want bad news generally for some odd reason. | |||
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"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain. You are the one saying that the pound "surging" against the dollar is a good thing. Perhaps you should tell us all why? We are often subjected to OP's from people who are patently clueless about economics, cheering on a fall in the £ against the $ from 1.25 to 1.24 as being caused by "Brexit" and being cataclysmic. But it's fascinating that a fall is bad news due to Brexit, and an increase is bad news due to something else. It's almost as though you desperately want bad news generally for some odd reason. " Perhaps you could tell us who does the culprits are, what they actually said and when rather than being generalistic. | |||
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"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain. You are the one saying that the pound "surging" against the dollar is a good thing. Perhaps you should tell us all why? We are often subjected to OP's from people who are patently clueless about economics, cheering on a fall in the £ against the $ from 1.25 to 1.24 as being caused by "Brexit" and being cataclysmic. But it's fascinating that a fall is bad news due to Brexit, and an increase is bad news due to something else. It's almost as though you desperately want bad news generally for some odd reason. Perhaps you could tell us who does the culprits are, what they actually said and when rather than being generalistic. " That is encouraging someone to break the site rules by naming and shaming. If you was not aware of that rule you are now, if you was, well... | |||
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"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain. You are the one saying that the pound "surging" against the dollar is a good thing. Perhaps you should tell us all why? We are often subjected to OP's from people who are patently clueless about economics, cheering on a fall in the £ against the $ from 1.25 to 1.24 as being caused by "Brexit" and being cataclysmic. But it's fascinating that a fall is bad news due to Brexit, and an increase is bad news due to something else. It's almost as though you desperately want bad news generally for some odd reason. " as with all brexit posts, you can rewrite the other way and it still feels true. As I said earlier, imo a volatile currency with huge swings is one that should be seen as being poor. And spikes (either way) should cause concern. | |||
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"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain. You are the one saying that the pound "surging" against the dollar is a good thing. Perhaps you should tell us all why? We are often subjected to OP's from people who are patently clueless about economics, cheering on a fall in the £ against the $ from 1.25 to 1.24 as being caused by "Brexit" and being cataclysmic. But it's fascinating that a fall is bad news due to Brexit, and an increase is bad news due to something else. It's almost as though you desperately want bad news generally for some odd reason. Perhaps you could tell us who does the culprits are, what they actually said and when rather than being generalistic. That is encouraging someone to break the site rules by naming and shaming. If you was not aware of that rule you are now, if you was, well..." Not only that, if that poster hasn't seen any of that claim before then he should seek out Arsene Wenger, they'd make a great team | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth You "state" a lot. That doesn't make any of it sensible. What makes higher currency exchange rate "better"? You are correct that the UK was put in a deep hole after the disaster of the brief Truss administration that crashed the currency and spooked the markets. Much of the gains are due to a more stable and predictable economic policy in place. Even if you don't like it. Rising interest rates and inflation are also affecting and expecting to affect UK growth. They may or may not tip us into the recession that we narrowly skirted. You still seem to struggle with the concept of anticipation in economics. You don't believe that happens? That is why the term "long" or "short" exists, is it not? As I have stated before. You don't necessarily want an always straightening currency. Each currency should have its level. As I previously stated. That level for me is about $1.5-1.6 to the £ and €1.3 euros to the £ No one mentioned the Truss budget. You're projecting. Again though. Since history escapes you. The emergency budget was announced on September 23rd. The currency dipped to 1.1145,by October 2nd it was back where it was. So I'm not exactly sure what effects you're talking about. The pound had dipped from 1.19 to 1.13before the " disaster budget" So again. You seem to be way off on your analysis maybe you need to go and re look? The gains have come about because of the possibility of the debt ceiling not being reaches vs the dollar, this happened in 2013/14 the last time the usa threatened to default.( you really don't seem to know much about your currency history) A more stable economy that has gilts at the same level Truss budget had them.
Where the currency was back in place within a week?
Hmmm.
You're adding 2 and 2 and getting sandwich.
You mention interest rates and inflation. But what you fail to understand is this actually leaves the bofe and uk economy in a more of a catch 22 because they don't want to raise rates further it will inhibit growth and therefore the forecasts will be worse.( and thus shorts come back) and you don't want inflation to carry on. So you are on the one hand saying the uk economy is doing well, because of the budget and long term expectations..but that interest rates and inflation means we are teetering on recession. You are having your cake and eating it here easy. In 2 paragraphs you've completely contradicted yourself.
Emojis and grandiose pronouncements don't cover your struggle with economic basics.
You are cribbing again, but not honest enough to say where from.
At least you recognise that a "strong" currency is not something to be excited about. It has both positive and negative consequences for individuals, companies and economies.
A floating currency floats due to events both domestic and foreign some controllable. Some not. Nobody cares what the "level for you" is. Literally nobody and it is a meaningless pronouncement.
This is City AMs take on this. You like City AM, right? Perhaps you know better?
"Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation."
"The big picture is that investors now expect both interest rates and inflation to remain “higher for longer” in the UK,” Adam Hoyes, markets economist at consultancy Capital Economics, said.
If markets are correct, then UK rates would top America’s, meaning investors could earn a greater rate of return on British assets – capitalising on the so-called “yield differential”.
Traders are therefore hoovering up pounds to buy UK assets, pushing the currency higher against the US dollar.
Yields on UK gilts have raced to above the level reached in the days after Liz Truss’s £45bn tax-cutting mini budget in September 2022 and are higher than returns offered on their US equivalent at around 4.8 per cent.
Sterling collapsed to its lowest level ever against the greenback in the weeks after that haphazard fiscal event last autumn despite yields rising rapidly, a characteristic that is normally associated with an emerging market economy.
Hoyes said the threat of recession in the UK and a global “flight to safety” should cause the pound to retrace some of its gains against the dollar.
“The boost from yield differentials over the past few weeks has taken sterling close to its strongest level in a year against the US dollar. But we don’t anticipate that lasting. Alongside the fading influence of favourable yield differentials, we expect a broader strengthening in the greenback on the back of safe-haven flows to lead to a weaker pound by the end of this year,” he said."
https://www.cityam.com/pound-hits-highest-level-against-us-dollar-in-over-a-year-as-traders-bet-bank-of-england-will-outmuscle-fed/
Are they wrong? Do you know better?
The US debt ceiling bill was passed at the begining of June that was a local peak in the exchange rate. That will not be revisited until 2025. There is a US Presidential election before that happens so a far bigger destabilised to pass firat. It's no longer pertinent.
You cannot see that there is a difference between a steady change to any economic measure and a spike? The former is due to steady and expected change. The later due to shocks.
Anticipation of events still not something you can get your head around? The Pound fell over a period of uncertainty during the Tory leadership election and in the lead up to the fiscal event when it was being hinted what might happen. The reality was even worse causing a sharp fall. That is how the market functions.
Gilt yields are now rising with current and anticipated interest rates due to high inflation. That's normal.
They spiked with Truss' budget because of the market not accepting unfunded tax cuts. The market was spooked. Abnormal.
The fact that they are higher now is due to a normal economic mechanism rather than a panic.
Yes, the Bank of England, like most central banks, are always balancing inflation with recession if the most significant tool they have to play with is interest rates. Well done you.
I haven't said anything about the UK economy doing well or badly. I wrote that the economy is more stable than it was when Truss panicked the markets. That is not the same as doing well. It can be more stable and narrowly missing recession. That is what the multiple quarters of close to zero growth represent. Stable stagnation.
You see the problem here easy is the uk pound has been moving up agains thr edollar for a while. You are taking 1 days trading and article as an indicator for several weeks of short positions closing and long positions going g up.
See for the last 2 months it's gone form 1.18 to 1.28 and you're attieubiti g thay to sentiment 1 week out.
Sadly thats not the case. I can see you Google very well. But as we discussed this is a long term effect. This is from October lows of 1.07
This isn't all riven by interest rates. Agai if it were. The usa has higher rates and thus would not have seen it position weaken.
It's a shame you comment on something you know absolutely f all about.
"So your answer is to try to change the subject, as usual. The OP wrote this: "In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28" You have already agreed that the exchange rate rising or falling has both positive and negative consequences. You don't seem to understand that there are differences between what causes sudden changes and longer-term ones. The OP is about an extremely short-term change. The newspaper article is about a short to medium-term trend. Expectations about the inflation and therefore interest rates between the USA and UK have been clear for several months now. Inflation in the USA started falling last year. You seem believe that City AM is wrong in the face of your reinvention basic economics. You should publish and get that Nobel prize... | |||
| Reply privately | Reply in forum | Reply +quote |
"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain. You are the one saying that the pound "surging" against the dollar is a good thing. Perhaps you should tell us all why? We are often subjected to OP's from people who are patently clueless about economics, cheering on a fall in the £ against the $ from 1.25 to 1.24 as being caused by "Brexit" and being cataclysmic. But it's fascinating that a fall is bad news due to Brexit, and an increase is bad news due to something else. It's almost as though you desperately want bad news generally for some odd reason. " "Often"? I haven't seen it. Again, I have only really seen the claim that a "strengthening" currency as being good news. You have just made an unsupported assertion. It's fascinating that you need to believe that"remainers" say that a weakening currency is "cataclysmic" and look for bad news. I am resigned to bad economic news as there is a global problem. Brexit has just exacerbated it for us, not ameliorated it. All a bit worse than it would have been not better as a consequence. As I have laboured to point out,sharp changes are shocks and are generally bad. Steady change can be good or bad, but at least predictable. Again, why do you believe that a "stronger" currency is an absolute economic good and a benefit of Brexit? So again, why is a small increase in the exchange rate unambiguously good and what has it got to do with Brexit? | |||
| Reply privately | Reply in forum | Reply +quote |
"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain. You are the one saying that the pound "surging" against the dollar is a good thing. Perhaps you should tell us all why? We are often subjected to OP's from people who are patently clueless about economics, cheering on a fall in the £ against the $ from 1.25 to 1.24 as being caused by "Brexit" and being cataclysmic. But it's fascinating that a fall is bad news due to Brexit, and an increase is bad news due to something else. It's almost as though you desperately want bad news generally for some odd reason. Perhaps you could tell us who does the culprits are, what they actually said and when rather than being generalistic. That is encouraging someone to break the site rules by naming and shaming. If you was not aware of that rule you are now, if you was, well..." Therefore you post is simply hearsay and nothing else. | |||
| Reply privately | Reply in forum | Reply +quote |
"Could have avoided all this weak currency malarkey. But no! we listened to a Liar and a Lunatic, and now what we have some dude here bragging about ‘ooh we are winning with 1.28’ in a forum. Like some how that is going to erase the last 7 years of a weak pound. Is a weak or strong pound good or bad for the economy? I'm not sure, perhaps you could explain. It depends why the pound is weak or strong. A strong economy is usually one where people invest into the country i.e. they have confidence in the economy and want to be part of what they see is growth and prosperity. This means that money comes into the country and the pound normally gets stronger. As had been said often on this forum recently, the higher value of the pound that we are currently seeing is due to high interest rates. High interest rates, in this case, are partially caused by inflation which has been caused by a number of things including the war in Ukraine. Our spell with Truss as PM certainly didn't help either. There are many other reasons as well. In my opinion, the current situation is not a sign of a strong economy. It is an economy that is trying to get back on its feet before inflation goes up even further which will lead to hardship for many many people. Truss had no impact. Especially not now. Any initial vitality unwound by December." ‘Truss had no impact’ | |||
| Reply privately | Reply in forum | Reply +quote |
"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth You "state" a lot. That doesn't make any of it sensible. What makes higher currency exchange rate "better"? You are correct that the UK was put in a deep hole after the disaster of the brief Truss administration that crashed the currency and spooked the markets. Much of the gains are due to a more stable and predictable economic policy in place. Even if you don't like it. Rising interest rates and inflation are also affecting and expecting to affect UK growth. They may or may not tip us into the recession that we narrowly skirted. You still seem to struggle with the concept of anticipation in economics. You don't believe that happens? That is why the term "long" or "short" exists, is it not? As I have stated before. You don't necessarily want an always straightening currency. Each currency should have its level. As I previously stated. That level for me is about $1.5-1.6 to the £ and €1.3 euros to the £ No one mentioned the Truss budget. You're projecting. Again though. Since history escapes you. The emergency budget was announced on September 23rd. The currency dipped to 1.1145,by October 2nd it was back where it was. So I'm not exactly sure what effects you're talking about. The pound had dipped from 1.19 to 1.13before the " disaster budget" So again. You seem to be way off on your analysis maybe you need to go and re look? The gains have come about because of the possibility of the debt ceiling not being reaches vs the dollar, this happened in 2013/14 the last time the usa threatened to default.( you really don't seem to know much about your currency history) A more stable economy that has gilts at the same level Truss budget had them.
Where the currency was back in place within a week?
Hmmm.
You're adding 2 and 2 and getting sandwich.
You mention interest rates and inflation. But what you fail to understand is this actually leaves the bofe and uk economy in a more of a catch 22 because they don't want to raise rates further it will inhibit growth and therefore the forecasts will be worse.( and thus shorts come back) and you don't want inflation to carry on. So you are on the one hand saying the uk economy is doing well, because of the budget and long term expectations..but that interest rates and inflation means we are teetering on recession. You are having your cake and eating it here easy. In 2 paragraphs you've completely contradicted yourself.
Emojis and grandiose pronouncements don't cover your struggle with economic basics.
You are cribbing again, but not honest enough to say where from.
At least you recognise that a "strong" currency is not something to be excited about. It has both positive and negative consequences for individuals, companies and economies.
A floating currency floats due to events both domestic and foreign some controllable. Some not. Nobody cares what the "level for you" is. Literally nobody and it is a meaningless pronouncement.
This is City AMs take on this. You like City AM, right? Perhaps you know better?
"Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation."
"The big picture is that investors now expect both interest rates and inflation to remain “higher for longer” in the UK,” Adam Hoyes, markets economist at consultancy Capital Economics, said.
If markets are correct, then UK rates would top America’s, meaning investors could earn a greater rate of return on British assets – capitalising on the so-called “yield differential”.
Traders are therefore hoovering up pounds to buy UK assets, pushing the currency higher against the US dollar.
Yields on UK gilts have raced to above the level reached in the days after Liz Truss’s £45bn tax-cutting mini budget in September 2022 and are higher than returns offered on their US equivalent at around 4.8 per cent.
Sterling collapsed to its lowest level ever against the greenback in the weeks after that haphazard fiscal event last autumn despite yields rising rapidly, a characteristic that is normally associated with an emerging market economy.
Hoyes said the threat of recession in the UK and a global “flight to safety” should cause the pound to retrace some of its gains against the dollar.
“The boost from yield differentials over the past few weeks has taken sterling close to its strongest level in a year against the US dollar. But we don’t anticipate that lasting. Alongside the fading influence of favourable yield differentials, we expect a broader strengthening in the greenback on the back of safe-haven flows to lead to a weaker pound by the end of this year,” he said."
https://www.cityam.com/pound-hits-highest-level-against-us-dollar-in-over-a-year-as-traders-bet-bank-of-england-will-outmuscle-fed/
Are they wrong? Do you know better?
The US debt ceiling bill was passed at the begining of June that was a local peak in the exchange rate. That will not be revisited until 2025. There is a US Presidential election before that happens so a far bigger destabilised to pass firat. It's no longer pertinent.
You cannot see that there is a difference between a steady change to any economic measure and a spike? The former is due to steady and expected change. The later due to shocks.
Anticipation of events still not something you can get your head around? The Pound fell over a period of uncertainty during the Tory leadership election and in the lead up to the fiscal event when it was being hinted what might happen. The reality was even worse causing a sharp fall. That is how the market functions.
Gilt yields are now rising with current and anticipated interest rates due to high inflation. That's normal.
They spiked with Truss' budget because of the market not accepting unfunded tax cuts. The market was spooked. Abnormal.
The fact that they are higher now is due to a normal economic mechanism rather than a panic.
Yes, the Bank of England, like most central banks, are always balancing inflation with recession if the most significant tool they have to play with is interest rates. Well done you.
I haven't said anything about the UK economy doing well or badly. I wrote that the economy is more stable than it was when Truss panicked the markets. That is not the same as doing well. It can be more stable and narrowly missing recession. That is what the multiple quarters of close to zero growth represent. Stable stagnation.
You see the problem here easy is the uk pound has been moving up agains thr edollar for a while. You are taking 1 days trading and article as an indicator for several weeks of short positions closing and long positions going g up.
See for the last 2 months it's gone form 1.18 to 1.28 and you're attieubiti g thay to sentiment 1 week out.
Sadly thats not the case. I can see you Google very well. But as we discussed this is a long term effect. This is from October lows of 1.07
This isn't all riven by interest rates. Agai if it were. The usa has higher rates and thus would not have seen it position weaken.
It's a shame you comment on something you know absolutely f all about.
So your answer is to try to change the subject, as usual.
The OP wrote this:
"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28"
You have already agreed that the exchange rate rising or falling has both positive and negative consequences.
You don't seem to understand that there are differences between what causes sudden changes and longer-term ones.
The OP is about an extremely short-term change.
The newspaper article is about a short to medium-term trend. Expectations about the inflation and therefore interest rates between the USA and UK have been clear for several months now. Inflation in the USA started falling last year.
You seem believe that City AM is wrong in the face of your reinvention basic economics.
You should publish and get that Nobel prize..."Nope. You seemed not to understand that what you said about the Truss impact was incorrect. Because it fell further after the plan was scrapped. And was where it was originally by October 4th You were using city am. Point on this week's positivity, to discuss the strength in pound going from 1.14 in October to 1.28 now. As was previously stated to you a few months ths back the pound was the strongest performing g10 currency before March. It amazing thaybthey were enriching in bofe interest rate rises late june back then and that the long positions from September increased 200% before May. But hey. Those trader knew 9 months i advance what the interest rate hike would be in June 23 and the uk inflation and gdp
You're a hoot.
Heres soemthing that maybe help you.
Check investing.com
Gbp speculative net positions.
Also try gogling bear position debt ceiling.
Like i say indont think you know much about this trying to attribute 9 mo ths of almost solid growth to a city am article about this week's increase because of bofe.
Even though tbe usa has higher interest rates regardless of if we push ours up.
Honestly. Just sit back on this one easy.
It's getting embarrassing
| |||
| Reply privately | Reply in forum | Reply +quote |
"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth You "state" a lot. That doesn't make any of it sensible. What makes higher currency exchange rate "better"? You are correct that the UK was put in a deep hole after the disaster of the brief Truss administration that crashed the currency and spooked the markets. Much of the gains are due to a more stable and predictable economic policy in place. Even if you don't like it. Rising interest rates and inflation are also affecting and expecting to affect UK growth. They may or may not tip us into the recession that we narrowly skirted. You still seem to struggle with the concept of anticipation in economics. You don't believe that happens? That is why the term "long" or "short" exists, is it not? As I have stated before. You don't necessarily want an always straightening currency. Each currency should have its level. As I previously stated. That level for me is about $1.5-1.6 to the £ and €1.3 euros to the £ No one mentioned the Truss budget. You're projecting. Again though. Since history escapes you. The emergency budget was announced on September 23rd. The currency dipped to 1.1145,by October 2nd it was back where it was. So I'm not exactly sure what effects you're talking about. The pound had dipped from 1.19 to 1.13before the " disaster budget" So again. You seem to be way off on your analysis maybe you need to go and re look? The gains have come about because of the possibility of the debt ceiling not being reaches vs the dollar, this happened in 2013/14 the last time the usa threatened to default.( you really don't seem to know much about your currency history) A more stable economy that has gilts at the same level Truss budget had them.
Where the currency was back in place within a week?
Hmmm.
You're adding 2 and 2 and getting sandwich.
You mention interest rates and inflation. But what you fail to understand is this actually leaves the bofe and uk economy in a more of a catch 22 because they don't want to raise rates further it will inhibit growth and therefore the forecasts will be worse.( and thus shorts come back) and you don't want inflation to carry on. So you are on the one hand saying the uk economy is doing well, because of the budget and long term expectations..but that interest rates and inflation means we are teetering on recession. You are having your cake and eating it here easy. In 2 paragraphs you've completely contradicted yourself.
Emojis and grandiose pronouncements don't cover your struggle with economic basics.
You are cribbing again, but not honest enough to say where from.
At least you recognise that a "strong" currency is not something to be excited about. It has both positive and negative consequences for individuals, companies and economies.
A floating currency floats due to events both domestic and foreign some controllable. Some not. Nobody cares what the "level for you" is. Literally nobody and it is a meaningless pronouncement.
This is City AMs take on this. You like City AM, right? Perhaps you know better?
"Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation."
"The big picture is that investors now expect both interest rates and inflation to remain “higher for longer” in the UK,” Adam Hoyes, markets economist at consultancy Capital Economics, said.
If markets are correct, then UK rates would top America’s, meaning investors could earn a greater rate of return on British assets – capitalising on the so-called “yield differential”.
Traders are therefore hoovering up pounds to buy UK assets, pushing the currency higher against the US dollar.
Yields on UK gilts have raced to above the level reached in the days after Liz Truss’s £45bn tax-cutting mini budget in September 2022 and are higher than returns offered on their US equivalent at around 4.8 per cent.
Sterling collapsed to its lowest level ever against the greenback in the weeks after that haphazard fiscal event last autumn despite yields rising rapidly, a characteristic that is normally associated with an emerging market economy.
Hoyes said the threat of recession in the UK and a global “flight to safety” should cause the pound to retrace some of its gains against the dollar.
“The boost from yield differentials over the past few weeks has taken sterling close to its strongest level in a year against the US dollar. But we don’t anticipate that lasting. Alongside the fading influence of favourable yield differentials, we expect a broader strengthening in the greenback on the back of safe-haven flows to lead to a weaker pound by the end of this year,” he said."
https://www.cityam.com/pound-hits-highest-level-against-us-dollar-in-over-a-year-as-traders-bet-bank-of-england-will-outmuscle-fed/
Are they wrong? Do you know better?
The US debt ceiling bill was passed at the begining of June that was a local peak in the exchange rate. That will not be revisited until 2025. There is a US Presidential election before that happens so a far bigger destabilised to pass firat. It's no longer pertinent.
You cannot see that there is a difference between a steady change to any economic measure and a spike? The former is due to steady and expected change. The later due to shocks.
Anticipation of events still not something you can get your head around? The Pound fell over a period of uncertainty during the Tory leadership election and in the lead up to the fiscal event when it was being hinted what might happen. The reality was even worse causing a sharp fall. That is how the market functions.
Gilt yields are now rising with current and anticipated interest rates due to high inflation. That's normal.
They spiked with Truss' budget because of the market not accepting unfunded tax cuts. The market was spooked. Abnormal.
The fact that they are higher now is due to a normal economic mechanism rather than a panic.
Yes, the Bank of England, like most central banks, are always balancing inflation with recession if the most significant tool they have to play with is interest rates. Well done you.
I haven't said anything about the UK economy doing well or badly. I wrote that the economy is more stable than it was when Truss panicked the markets. That is not the same as doing well. It can be more stable and narrowly missing recession. That is what the multiple quarters of close to zero growth represent. Stable stagnation.
You see the problem here easy is the uk pound has been moving up agains thr edollar for a while. You are taking 1 days trading and article as an indicator for several weeks of short positions closing and long positions going g up.
See for the last 2 months it's gone form 1.18 to 1.28 and you're attieubiti g thay to sentiment 1 week out.
Sadly thats not the case. I can see you Google very well. But as we discussed this is a long term effect. This is from October lows of 1.07
This isn't all riven by interest rates. Agai if it were. The usa has higher rates and thus would not have seen it position weaken.
It's a shame you comment on something you know absolutely f all about.
So your answer is to try to change the subject, as usual.
The OP wrote this:
"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28"
You have already agreed that the exchange rate rising or falling has both positive and negative consequences.
You don't seem to understand that there are differences between what causes sudden changes and longer-term ones.
The OP is about an extremely short-term change.
The newspaper article is about a short to medium-term trend. Expectations about the inflation and therefore interest rates between the USA and UK have been clear for several months now. Inflation in the USA started falling last year.
You seem believe that City AM is wrong in the face of your reinvention basic economics.
You should publish and get that Nobel prize...
Nope. You seemed not to understand that what you said about the Truss impact was incorrect. Because it fell further after the plan was scrapped. And was where it was originally by October 4th
You were using city am. Point on this week's positivity, to discuss the strength in pound going from 1.14 in October to 1.28 now.
As was previously stated to you a few months ths back the pound was the strongest performing g10 currency before March. It amazing thaybthey were enriching in bofe interest rate rises late june back then and that the long positions from September increased 200% before May.
But hey. Those trader knew 9 months i advance what the interest rate hike would be in June 23 and the uk inflation and gdp
You're a hoot.
Heres soemthing that maybe help you.
Check investing.com
Gbp speculative net positions.
Also try gogling bear position debt ceiling.
Like i say indont think you know much about this trying to attribute 9 mo ths of almost solid growth to a city am article about this week's increase because of bofe.
Even though tbe usa has higher interest rates regardless of if we push ours up.
Honestly. Just sit back on this one easy.
It's getting embarrassing
"Copied from your fictional Twitter mentor yet again | |||
| Reply privately | Reply in forum | Reply +quote |
"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. OP seems to be new to the concept of watching the economy and understanding cause and effect. Inflation is rampant and already high interest rates are more likely than not to be increased again in the coming months. High interest rates give an artificial boost to a national currency but it only like having a pacemaker fitted of the underlying inflation remains out of control. The exchange rate will continue to steadily rise as interest rates rise until such time as a market spooking event occurs and a loss of confidence will then follow with a rapid collapse in exchange rates. This is basic, basic stuff. Brexit has weakened the economy and that is why we are suffering inflation worse than most. Combatting inflation with interest rate rises is what is giving rise to the the improved exchange rates. Nothing more. Exchange rates go up = Brexit! Exchange rates go down = Brexit! Seek help. You literally claimed this in your OP. You're celebrating the £ being weaker than it was prior to the referendum slump as "another indication of what an amazing success Brexit has been". Which I personally presume is a post trolling those 9% who still think brexit was a good idea. There is an interesting article in the Telegraph this morning by Robert Tombs, in which he suggests that Remainers routinely spew out factual inaccuracies and seem to have given up on caring whether what they say has any factual basis or not. His view is that Remainers actually don't really care whether we are in the EU or not, and have no idea themselves why they want to be in it. What they are really concerned about is social and cultural control over the plebs. That's very much been my experience of the hardcore Remainers that I know. The vast majority of Remainers I know voted Remain but accepted the result and don't really care. There are a few however who have become totally unhinged by it, people who have very responsible jobs in the public sector, second homes, kids at private school, rational people in daily life. But totally unhinged by Brexit. Mention it and they look wild. What is your view? My view is that you are either. A. Trolling brexiteers by posting the most ridiculous pro-brexit nonsense you can think of, for example your OP. Or B. You're so desperate for brexit to be viewed as a success that you lash out against anyone who points out the reality of the impacts of leaving the EU. Why did people vote for Brexit in your opinion? " I have no idea what motivated each and every leave voter to vote the way they did. Do you? " What cause and effect do you see from prior governments and policies? " Blaming the EU for their own failures. " What responsibilities do the Remain campaign and Remain campaigners have? " Responsibilities to what? The referendum is long gone the people who campaigned to remain are no longer doing so. " Try a little self analysis, and perhaps something a little deeper and more complex than "thick racists" and "lies"." You have me mixed up with someone else in this last part. I hope answering these irrelevant questions helps you in some way. | |||
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"I am resigned to bad economic news as there is a global problem. Brexit has just exacerbated it for us, not ameliorated it." Well done for being the first person in weeks to use the word "exacerbated" correctly. I see so many people using "exasperated" instead, which makes me sad, so it's great to see someone getting it right. | |||
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| |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth You "state" a lot. That doesn't make any of it sensible. What makes higher currency exchange rate "better"? You are correct that the UK was put in a deep hole after the disaster of the brief Truss administration that crashed the currency and spooked the markets. Much of the gains are due to a more stable and predictable economic policy in place. Even if you don't like it. Rising interest rates and inflation are also affecting and expecting to affect UK growth. They may or may not tip us into the recession that we narrowly skirted. You still seem to struggle with the concept of anticipation in economics. You don't believe that happens? That is why the term "long" or "short" exists, is it not? As I have stated before. You don't necessarily want an always straightening currency. Each currency should have its level. As I previously stated. That level for me is about $1.5-1.6 to the £ and €1.3 euros to the £ No one mentioned the Truss budget. You're projecting. Again though. Since history escapes you. The emergency budget was announced on September 23rd. The currency dipped to 1.1145,by October 2nd it was back where it was. So I'm not exactly sure what effects you're talking about. The pound had dipped from 1.19 to 1.13before the " disaster budget" So again. You seem to be way off on your analysis maybe you need to go and re look? The gains have come about because of the possibility of the debt ceiling not being reaches vs the dollar, this happened in 2013/14 the last time the usa threatened to default.( you really don't seem to know much about your currency history) A more stable economy that has gilts at the same level Truss budget had them.
Where the currency was back in place within a week?
Hmmm.
You're adding 2 and 2 and getting sandwich.
You mention interest rates and inflation. But what you fail to understand is this actually leaves the bofe and uk economy in a more of a catch 22 because they don't want to raise rates further it will inhibit growth and therefore the forecasts will be worse.( and thus shorts come back) and you don't want inflation to carry on. So you are on the one hand saying the uk economy is doing well, because of the budget and long term expectations..but that interest rates and inflation means we are teetering on recession. You are having your cake and eating it here easy. In 2 paragraphs you've completely contradicted yourself.
Emojis and grandiose pronouncements don't cover your struggle with economic basics.
You are cribbing again, but not honest enough to say where from.
At least you recognise that a "strong" currency is not something to be excited about. It has both positive and negative consequences for individuals, companies and economies.
A floating currency floats due to events both domestic and foreign some controllable. Some not. Nobody cares what the "level for you" is. Literally nobody and it is a meaningless pronouncement.
This is City AMs take on this. You like City AM, right? Perhaps you know better?
"Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation."
"The big picture is that investors now expect both interest rates and inflation to remain “higher for longer” in the UK,” Adam Hoyes, markets economist at consultancy Capital Economics, said.
If markets are correct, then UK rates would top America’s, meaning investors could earn a greater rate of return on British assets – capitalising on the so-called “yield differential”.
Traders are therefore hoovering up pounds to buy UK assets, pushing the currency higher against the US dollar.
Yields on UK gilts have raced to above the level reached in the days after Liz Truss’s £45bn tax-cutting mini budget in September 2022 and are higher than returns offered on their US equivalent at around 4.8 per cent.
Sterling collapsed to its lowest level ever against the greenback in the weeks after that haphazard fiscal event last autumn despite yields rising rapidly, a characteristic that is normally associated with an emerging market economy.
Hoyes said the threat of recession in the UK and a global “flight to safety” should cause the pound to retrace some of its gains against the dollar.
“The boost from yield differentials over the past few weeks has taken sterling close to its strongest level in a year against the US dollar. But we don’t anticipate that lasting. Alongside the fading influence of favourable yield differentials, we expect a broader strengthening in the greenback on the back of safe-haven flows to lead to a weaker pound by the end of this year,” he said."
https://www.cityam.com/pound-hits-highest-level-against-us-dollar-in-over-a-year-as-traders-bet-bank-of-england-will-outmuscle-fed/
Are they wrong? Do you know better?
The US debt ceiling bill was passed at the begining of June that was a local peak in the exchange rate. That will not be revisited until 2025. There is a US Presidential election before that happens so a far bigger destabilised to pass firat. It's no longer pertinent.
You cannot see that there is a difference between a steady change to any economic measure and a spike? The former is due to steady and expected change. The later due to shocks.
Anticipation of events still not something you can get your head around? The Pound fell over a period of uncertainty during the Tory leadership election and in the lead up to the fiscal event when it was being hinted what might happen. The reality was even worse causing a sharp fall. That is how the market functions.
Gilt yields are now rising with current and anticipated interest rates due to high inflation. That's normal.
They spiked with Truss' budget because of the market not accepting unfunded tax cuts. The market was spooked. Abnormal.
The fact that they are higher now is due to a normal economic mechanism rather than a panic.
Yes, the Bank of England, like most central banks, are always balancing inflation with recession if the most significant tool they have to play with is interest rates. Well done you.
I haven't said anything about the UK economy doing well or badly. I wrote that the economy is more stable than it was when Truss panicked the markets. That is not the same as doing well. It can be more stable and narrowly missing recession. That is what the multiple quarters of close to zero growth represent. Stable stagnation.
You see the problem here easy is the uk pound has been moving up agains thr edollar for a while. You are taking 1 days trading and article as an indicator for several weeks of short positions closing and long positions going g up.
See for the last 2 months it's gone form 1.18 to 1.28 and you're attieubiti g thay to sentiment 1 week out.
Sadly thats not the case. I can see you Google very well. But as we discussed this is a long term effect. This is from October lows of 1.07
This isn't all riven by interest rates. Agai if it were. The usa has higher rates and thus would not have seen it position weaken.
It's a shame you comment on something you know absolutely f all about.
So your answer is to try to change the subject, as usual.
The OP wrote this:
"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28"
You have already agreed that the exchange rate rising or falling has both positive and negative consequences.
You don't seem to understand that there are differences between what causes sudden changes and longer-term ones.
The OP is about an extremely short-term change.
The newspaper article is about a short to medium-term trend. Expectations about the inflation and therefore interest rates between the USA and UK have been clear for several months now. Inflation in the USA started falling last year.
You seem believe that City AM is wrong in the face of your reinvention basic economics.
You should publish and get that Nobel prize...
Nope. You seemed not to understand that what you said about the Truss impact was incorrect. Because it fell further after the plan was scrapped. And was where it was originally by October 4th
You were using city am. Point on this week's positivity, to discuss the strength in pound going from 1.14 in October to 1.28 now.
As was previously stated to you a few months ths back the pound was the strongest performing g10 currency before March. It amazing thaybthey were enriching in bofe interest rate rises late june back then and that the long positions from September increased 200% before May.
But hey. Those trader knew 9 months i advance what the interest rate hike would be in June 23 and the uk inflation and gdp
You're a hoot.
Heres soemthing that maybe help you.
Check investing.com
Gbp speculative net positions.
Also try gogling bear position debt ceiling.
Like i say indont think you know much about this trying to attribute 9 mo ths of almost solid growth to a city am article about this week's increase because of bofe.
Even though tbe usa has higher interest rates regardless of if we push ours up.
Honestly. Just sit back on this one easy.
It's getting embarrassing
"Fiscal event 23 Sept Lowest value of GDP vs USD and Euro 27 Sep it has not been lower since. BoE starts buying bonds 28 Sep "Anti growth coalition" Tory party speech from Truss. GBP falls again 5 Oct This is from Investing.com "The rally comes amidst elevated UK bond yields which are the result of investors betting the Bank of England will hike Bank Rate to a peak of 6.0% as it battles to fight inflation. Such a development, if realised, would mean the Pound would benefit from one of the highest rates amongst developed economies, which would act as a magnet for foreign capital seeking higher returns, a trade known as the 'carry' trade." "We have BoE next week and they are dealing with an even harder situation than the ECB or Fed given their inflation numbers look far worse. Growth is holding up well despite the inflation figures and cost of living impact and the expectation is that the BoE will reluctantly keep hiking." UK inflation expectations and results have been worse than the USA and Euro zone for months but UK economic announcements have been stable and predictable so the expectation of steadily rising interest rates have been predictable. The debt ceiling was a wobble for the US, but now resolved. I have already said this. Again. The OP post is "celebrating" a short term change anyway. I am disagreeing with you, not the market and analysts. You continue to insist that you know better with ludicrously contorted and complex interpretations of something very simple. Your ego suffering, not mine. | |||
| Reply privately | Reply in forum | Reply +quote |
"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth You "state" a lot. That doesn't make any of it sensible. What makes higher currency exchange rate "better"? You are correct that the UK was put in a deep hole after the disaster of the brief Truss administration that crashed the currency and spooked the markets. Much of the gains are due to a more stable and predictable economic policy in place. Even if you don't like it. Rising interest rates and inflation are also affecting and expecting to affect UK growth. They may or may not tip us into the recession that we narrowly skirted. You still seem to struggle with the concept of anticipation in economics. You don't believe that happens? That is why the term "long" or "short" exists, is it not? As I have stated before. You don't necessarily want an always straightening currency. Each currency should have its level. As I previously stated. That level for me is about $1.5-1.6 to the £ and €1.3 euros to the £ No one mentioned the Truss budget. You're projecting. Again though. Since history escapes you. The emergency budget was announced on September 23rd. The currency dipped to 1.1145,by October 2nd it was back where it was. So I'm not exactly sure what effects you're talking about. The pound had dipped from 1.19 to 1.13before the " disaster budget" So again. You seem to be way off on your analysis maybe you need to go and re look? The gains have come about because of the possibility of the debt ceiling not being reaches vs the dollar, this happened in 2013/14 the last time the usa threatened to default.( you really don't seem to know much about your currency history) A more stable economy that has gilts at the same level Truss budget had them.
Where the currency was back in place within a week?
Hmmm.
You're adding 2 and 2 and getting sandwich.
You mention interest rates and inflation. But what you fail to understand is this actually leaves the bofe and uk economy in a more of a catch 22 because they don't want to raise rates further it will inhibit growth and therefore the forecasts will be worse.( and thus shorts come back) and you don't want inflation to carry on. So you are on the one hand saying the uk economy is doing well, because of the budget and long term expectations..but that interest rates and inflation means we are teetering on recession. You are having your cake and eating it here easy. In 2 paragraphs you've completely contradicted yourself.
Emojis and grandiose pronouncements don't cover your struggle with economic basics.
You are cribbing again, but not honest enough to say where from.
At least you recognise that a "strong" currency is not something to be excited about. It has both positive and negative consequences for individuals, companies and economies.
A floating currency floats due to events both domestic and foreign some controllable. Some not. Nobody cares what the "level for you" is. Literally nobody and it is a meaningless pronouncement.
This is City AMs take on this. You like City AM, right? Perhaps you know better?
"Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation."
"The big picture is that investors now expect both interest rates and inflation to remain “higher for longer” in the UK,” Adam Hoyes, markets economist at consultancy Capital Economics, said.
If markets are correct, then UK rates would top America’s, meaning investors could earn a greater rate of return on British assets – capitalising on the so-called “yield differential”.
Traders are therefore hoovering up pounds to buy UK assets, pushing the currency higher against the US dollar.
Yields on UK gilts have raced to above the level reached in the days after Liz Truss’s £45bn tax-cutting mini budget in September 2022 and are higher than returns offered on their US equivalent at around 4.8 per cent.
Sterling collapsed to its lowest level ever against the greenback in the weeks after that haphazard fiscal event last autumn despite yields rising rapidly, a characteristic that is normally associated with an emerging market economy.
Hoyes said the threat of recession in the UK and a global “flight to safety” should cause the pound to retrace some of its gains against the dollar.
“The boost from yield differentials over the past few weeks has taken sterling close to its strongest level in a year against the US dollar. But we don’t anticipate that lasting. Alongside the fading influence of favourable yield differentials, we expect a broader strengthening in the greenback on the back of safe-haven flows to lead to a weaker pound by the end of this year,” he said."
https://www.cityam.com/pound-hits-highest-level-against-us-dollar-in-over-a-year-as-traders-bet-bank-of-england-will-outmuscle-fed/
Are they wrong? Do you know better?
The US debt ceiling bill was passed at the begining of June that was a local peak in the exchange rate. That will not be revisited until 2025. There is a US Presidential election before that happens so a far bigger destabilised to pass firat. It's no longer pertinent.
You cannot see that there is a difference between a steady change to any economic measure and a spike? The former is due to steady and expected change. The later due to shocks.
Anticipation of events still not something you can get your head around? The Pound fell over a period of uncertainty during the Tory leadership election and in the lead up to the fiscal event when it was being hinted what might happen. The reality was even worse causing a sharp fall. That is how the market functions.
Gilt yields are now rising with current and anticipated interest rates due to high inflation. That's normal.
They spiked with Truss' budget because of the market not accepting unfunded tax cuts. The market was spooked. Abnormal.
The fact that they are higher now is due to a normal economic mechanism rather than a panic.
Yes, the Bank of England, like most central banks, are always balancing inflation with recession if the most significant tool they have to play with is interest rates. Well done you.
I haven't said anything about the UK economy doing well or badly. I wrote that the economy is more stable than it was when Truss panicked the markets. That is not the same as doing well. It can be more stable and narrowly missing recession. That is what the multiple quarters of close to zero growth represent. Stable stagnation.
You see the problem here easy is the uk pound has been moving up agains thr edollar for a while. You are taking 1 days trading and article as an indicator for several weeks of short positions closing and long positions going g up.
See for the last 2 months it's gone form 1.18 to 1.28 and you're attieubiti g thay to sentiment 1 week out.
Sadly thats not the case. I can see you Google very well. But as we discussed this is a long term effect. This is from October lows of 1.07
This isn't all riven by interest rates. Agai if it were. The usa has higher rates and thus would not have seen it position weaken.
It's a shame you comment on something you know absolutely f all about.
So your answer is to try to change the subject, as usual.
The OP wrote this:
"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28"
You have already agreed that the exchange rate rising or falling has both positive and negative consequences.
You don't seem to understand that there are differences between what causes sudden changes and longer-term ones.
The OP is about an extremely short-term change.
The newspaper article is about a short to medium-term trend. Expectations about the inflation and therefore interest rates between the USA and UK have been clear for several months now. Inflation in the USA started falling last year.
You seem believe that City AM is wrong in the face of your reinvention basic economics.
You should publish and get that Nobel prize...
Nope. You seemed not to understand that what you said about the Truss impact was incorrect. Because it fell further after the plan was scrapped. And was where it was originally by October 4th
You were using city am. Point on this week's positivity, to discuss the strength in pound going from 1.14 in October to 1.28 now.
As was previously stated to you a few months ths back the pound was the strongest performing g10 currency before March. It amazing thaybthey were enriching in bofe interest rate rises late june back then and that the long positions from September increased 200% before May.
But hey. Those trader knew 9 months i advance what the interest rate hike would be in June 23 and the uk inflation and gdp
You're a hoot.
Heres soemthing that maybe help you.
Check investing.com
Gbp speculative net positions.
Also try gogling bear position debt ceiling.
Like i say indont think you know much about this trying to attribute 9 mo ths of almost solid growth to a city am article about this week's increase because of bofe.
Even though tbe usa has higher interest rates regardless of if we push ours up.
Honestly. Just sit back on this one easy.
It's getting embarrassing
Fiscal event 23 Sept
Lowest value of GDP vs USD and Euro 27 Sep it has not been lower since.
BoE starts buying bonds 28 Sep
"Anti growth coalition" Tory party speech from Truss. GBP falls again 5 Oct
This is from Investing.com
"The rally comes amidst elevated UK bond yields which are the result of investors betting the Bank of England will hike Bank Rate to a peak of 6.0% as it battles to fight inflation.
Such a development, if realised, would mean the Pound would benefit from one of the highest rates amongst developed economies, which would act as a magnet for foreign capital seeking higher returns, a trade known as the 'carry' trade."
"We have BoE next week and they are dealing with an even harder situation than the ECB or Fed given their inflation numbers look far worse. Growth is holding up well despite the inflation figures and cost of living impact and the expectation is that the BoE will reluctantly keep hiking."
UK inflation expectations and results have been worse than the USA and Euro zone for months but UK economic announcements have been stable and predictable so the expectation of steadily rising interest rates have been predictable. The debt ceiling was a wobble for the US, but now resolved. I have already said this.
Again. The OP post is "celebrating" a short term change anyway.
I am disagreeing with you, not the market and analysts. You continue to insist that you know better with ludicrously contorted and complex interpretations of something very simple.
Your ego suffering, not mine."I'm not "celebrating" anything. I'm simply responding to the quite regular ludicrously negative threads that we get from intellectually challenged Remoaners extrapolating Brexit "disaster" from insignificant exchange rate changes or peripheral cherry-picked economic news. Maybe the world is slightly more complex, nuanced and grey than blinkered Remoaner ideologues think. | |||
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" I'm not "celebrating" anything. I'm simply responding to the quite regular ludicrously negative threads that we get from intellectually challenged Remoaners extrapolating Brexit "disaster" from insignificant exchange rate changes or peripheral cherry-picked economic news. Maybe the world is slightly more complex, nuanced and grey than blinkered Remoaner ideologues think. " Very unifying, insightful, and balanced.  | |||
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"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28. I almost didn't notice this, as our Remainer correspondents in the forum have oddly failed to point it out. Is the surging pound good for the economy? Remainers often tell us that a falling pound is self evidently bad for the economy, so it must be. The pound rises when interest rates rise. It is nice to have a good $ exchange rate but we are all paying for it. USA interest rates have risen more. There's more to it. Yes, there is more to it. The Federal Reserve Bank has signalled that there will not be a further interest rate rise. The markets act in anticipation of events as well as a consequence of them. The bofe interest rate is lower than federal reserve. As I stated I the thread a while back. The uk is the to performing currency. Many of the short positions taken by the big banks have run out and the they are now long on the pound. Better forecasts for the uk vs the nonsense we saw earlier I the year. As stated in another thread. The debt ceiling is still a problem in the usa with spending caps in place now which will affect the next 2 years of American growth You "state" a lot. That doesn't make any of it sensible. What makes higher currency exchange rate "better"? You are correct that the UK was put in a deep hole after the disaster of the brief Truss administration that crashed the currency and spooked the markets. Much of the gains are due to a more stable and predictable economic policy in place. Even if you don't like it. Rising interest rates and inflation are also affecting and expecting to affect UK growth. They may or may not tip us into the recession that we narrowly skirted. You still seem to struggle with the concept of anticipation in economics. You don't believe that happens? That is why the term "long" or "short" exists, is it not? As I have stated before. You don't necessarily want an always straightening currency. Each currency should have its level. As I previously stated. That level for me is about $1.5-1.6 to the £ and €1.3 euros to the £ No one mentioned the Truss budget. You're projecting. Again though. Since history escapes you. The emergency budget was announced on September 23rd. The currency dipped to 1.1145,by October 2nd it was back where it was. So I'm not exactly sure what effects you're talking about. The pound had dipped from 1.19 to 1.13before the " disaster budget" So again. You seem to be way off on your analysis maybe you need to go and re look? The gains have come about because of the possibility of the debt ceiling not being reaches vs the dollar, this happened in 2013/14 the last time the usa threatened to default.( you really don't seem to know much about your currency history) A more stable economy that has gilts at the same level Truss budget had them.
Where the currency was back in place within a week?
Hmmm.
You're adding 2 and 2 and getting sandwich.
You mention interest rates and inflation. But what you fail to understand is this actually leaves the bofe and uk economy in a more of a catch 22 because they don't want to raise rates further it will inhibit growth and therefore the forecasts will be worse.( and thus shorts come back) and you don't want inflation to carry on. So you are on the one hand saying the uk economy is doing well, because of the budget and long term expectations..but that interest rates and inflation means we are teetering on recession. You are having your cake and eating it here easy. In 2 paragraphs you've completely contradicted yourself.
Emojis and grandiose pronouncements don't cover your struggle with economic basics.
You are cribbing again, but not honest enough to say where from.
At least you recognise that a "strong" currency is not something to be excited about. It has both positive and negative consequences for individuals, companies and economies.
A floating currency floats due to events both domestic and foreign some controllable. Some not. Nobody cares what the "level for you" is. Literally nobody and it is a meaningless pronouncement.
This is City AMs take on this. You like City AM, right? Perhaps you know better?
"Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation."
"The big picture is that investors now expect both interest rates and inflation to remain “higher for longer” in the UK,” Adam Hoyes, markets economist at consultancy Capital Economics, said.
If markets are correct, then UK rates would top America’s, meaning investors could earn a greater rate of return on British assets – capitalising on the so-called “yield differential”.
Traders are therefore hoovering up pounds to buy UK assets, pushing the currency higher against the US dollar.
Yields on UK gilts have raced to above the level reached in the days after Liz Truss’s £45bn tax-cutting mini budget in September 2022 and are higher than returns offered on their US equivalent at around 4.8 per cent.
Sterling collapsed to its lowest level ever against the greenback in the weeks after that haphazard fiscal event last autumn despite yields rising rapidly, a characteristic that is normally associated with an emerging market economy.
Hoyes said the threat of recession in the UK and a global “flight to safety” should cause the pound to retrace some of its gains against the dollar.
“The boost from yield differentials over the past few weeks has taken sterling close to its strongest level in a year against the US dollar. But we don’t anticipate that lasting. Alongside the fading influence of favourable yield differentials, we expect a broader strengthening in the greenback on the back of safe-haven flows to lead to a weaker pound by the end of this year,” he said."
https://www.cityam.com/pound-hits-highest-level-against-us-dollar-in-over-a-year-as-traders-bet-bank-of-england-will-outmuscle-fed/
Are they wrong? Do you know better?
The US debt ceiling bill was passed at the begining of June that was a local peak in the exchange rate. That will not be revisited until 2025. There is a US Presidential election before that happens so a far bigger destabilised to pass firat. It's no longer pertinent.
You cannot see that there is a difference between a steady change to any economic measure and a spike? The former is due to steady and expected change. The later due to shocks.
Anticipation of events still not something you can get your head around? The Pound fell over a period of uncertainty during the Tory leadership election and in the lead up to the fiscal event when it was being hinted what might happen. The reality was even worse causing a sharp fall. That is how the market functions.
Gilt yields are now rising with current and anticipated interest rates due to high inflation. That's normal.
They spiked with Truss' budget because of the market not accepting unfunded tax cuts. The market was spooked. Abnormal.
The fact that they are higher now is due to a normal economic mechanism rather than a panic.
Yes, the Bank of England, like most central banks, are always balancing inflation with recession if the most significant tool they have to play with is interest rates. Well done you.
I haven't said anything about the UK economy doing well or badly. I wrote that the economy is more stable than it was when Truss panicked the markets. That is not the same as doing well. It can be more stable and narrowly missing recession. That is what the multiple quarters of close to zero growth represent. Stable stagnation.
You see the problem here easy is the uk pound has been moving up agains thr edollar for a while. You are taking 1 days trading and article as an indicator for several weeks of short positions closing and long positions going g up.
See for the last 2 months it's gone form 1.18 to 1.28 and you're attieubiti g thay to sentiment 1 week out.
Sadly thats not the case. I can see you Google very well. But as we discussed this is a long term effect. This is from October lows of 1.07
This isn't all riven by interest rates. Agai if it were. The usa has higher rates and thus would not have seen it position weaken.
It's a shame you comment on something you know absolutely f all about.
So your answer is to try to change the subject, as usual.
The OP wrote this:
"In another indication of what an amazing success Brexit has been, the pound has today surged past $1.28"
You have already agreed that the exchange rate rising or falling has both positive and negative consequences.
You don't seem to understand that there are differences between what causes sudden changes and longer-term ones.
The OP is about an extremely short-term change.
The newspaper article is about a short to medium-term trend. Expectations about the inflation and therefore interest rates between the USA and UK have been clear for several months now. Inflation in the USA started falling last year.
You seem believe that City AM is wrong in the face of your reinvention basic economics.
You should publish and get that Nobel prize...
Nope. You seemed not to understand that what you said about the Truss impact was incorrect. Because it fell further after the plan was scrapped. And was where it was originally by October 4th
You were using city am. Point on this week's positivity, to discuss the strength in pound going from 1.14 in October to 1.28 now.
As was previously stated to you a few months ths back the pound was the strongest performing g10 currency before March. It amazing thaybthey were enriching in bofe interest rate rises late june back then and that the long positions from September increased 200% before May.
But hey. Those trader knew 9 months i advance what the interest rate hike would be in June 23 and the uk inflation and gdp
You're a hoot.
Heres soemthing that maybe help you.
Check investing.com
Gbp speculative net positions.
Also try gogling bear position debt ceiling.
Like i say indont think you know much about this trying to attribute 9 mo ths of almost solid growth to a city am article about this week's increase because of bofe.
Even though tbe usa has higher interest rates regardless of if we push ours up.
Honestly. Just sit back on this one easy.
It's getting embarrassing
Fiscal event 23 Sept
Lowest value of GDP vs USD and Euro 27 Sep it has not been lower since.
BoE starts buying bonds 28 Sep
"Anti growth coalition" Tory party speech from Truss. GBP falls again 5 Oct
This is from Investing.com
"The rally comes amidst elevated UK bond yields which are the result of investors betting the Bank of England will hike Bank Rate to a peak of 6.0% as it battles to fight inflation.
Such a development, if realised, would mean the Pound would benefit from one of the highest rates amongst developed economies, which would act as a magnet for foreign capital seeking higher returns, a trade known as the 'carry' trade."
"We have BoE next week and they are dealing with an even harder situation than the ECB or Fed given their inflation numbers look far worse. Growth is holding up well despite the inflation figures and cost of living impact and the expectation is that the BoE will reluctantly keep hiking."
UK inflation expectations and results have been worse than the USA and Euro zone for months but UK economic announcements have been stable and predictable so the expectation of steadily rising interest rates have been predictable. The debt ceiling was a wobble for the US, but now resolved. I have already said this.
Again. The OP post is "celebrating" a short term change anyway.
I am disagreeing with you, not the market and analysts. You continue to insist that you know better with ludicrously contorted and complex interpretations of something very simple.
Your ego suffering, not mine.
I'm not "celebrating" anything. I'm simply responding to the quite regular ludicrously negative threads that we get from intellectually challenged Remoaners extrapolating Brexit "disaster" from insignificant exchange rate changes or peripheral cherry-picked economic news.
Maybe the world is slightly more complex, nuanced and grey than blinkered Remoaner ideologues think. "What negative threads? From what I see the threads that talk about either FTSE or exchange rate fluctuations are from those who support Brexit. Spikes, as previously described, tend to be pointed out by those indicating the cause of the shock. So, ignoring your insults, I agree with nuance. The rise in the currency is not a Brexit benefit and is not unambiguously a benefit at all | |||
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