kek
AT LEAST WE HAVE FREEDOM LMAO
ALL THAT MATTERS IS FREEDOM. IT DOESN'T MATTER IF WE HAVE A STABLE ECONOMY OR ANYTHING
Still much healthier than the Canadian dollar.
>>79827520
Freedom from what though?
UK will still be subject to all EU regulations if it wants to stay in the single market just like Norway is.
>>79827562
If Canadian Dollar was at three decade low against US Dollar, 1 USD would be 1.62 CAD.
It's at 1.29 now.
>>79827419
currency valuation is a double edged sword. the current value is good for exporters, bad for importers.
meanwhile the FTSE100 is at 6537
>>79827520
the UK economy is, by and large, very stable, give or take a few high street retailers.
(((Soros)))
>>79827610
>UK will still be subject to all EU regulations if it wants to stay in the single market just like Norway is.
No. Norway is a tiny meme economy. We have a huge trade deficit with the EU, if they want to be awkward they will be hurt more than us.
>>79827520
>ALL THAT MATTERS IS FREEDOM. IT DOESN'T MATTER IF WE HAVE A STABLE ECONOMY OR ANYTHING
The markets are up actually. The lower the pound the more we can delivers in terms of both physical and financial exports.
>>79827419
/biz/
Why are British ridiculed for choosing their sovereignty over EU shitshow?
There are more important things than money. Of course mutts like Americans or Canadians can't understand this.
>>79827733
For a country with a dearth of manufacturers like the U.K., dipping currency has much worse impact on quality of life than a country with a lot of manufacturing still intact like Japan because larger portion of household staples have to be imported.
Also, the currency dip has less impact on stimulating the economy since exporters make up smaller part of the economy.
>inb4 manufacturing will grow -- this is a very slow process. Notice how it took companies decades to ship manufacturing to China even though China's labour price is more favourable than the one in the west. GBP will have to stay very low for decades for companies to shift higher-end manufacturing from countries like Germany or France to the U.K.
WE ARZ RELEVANT AND SHIT
Seriously what does the UK even have to justify its whiny arrogance without its financial centre?
They're going to be left almost completely irrelevant, a Belgium-at-sea.
Even Scotland alone will be more respectable.
>>79827419
>DUDE GOLD LMAO
>DUDE VANCOUVER PROPERTY BUBBLE LMAO
shut the fuck up leaf, you can't shit talk anyone else's economy
>>79827520
>>79827419
Cucks
>>79827419
a 10% drop isn't that bad though. It's actually quite enviable.
>>79828036
>For a country with a dearth of manufacturers like the U.K
We like every other country in the world, export financial services, you absolute pleb. This is some serious John Oliver-tier level of economic understanding.
>>79828103
I find the Nexit thing going on in your country more baffling.
Netherlands lives off of being the low-cost, low-tariff port for the continental Europe.
How the fuck is Nexit not going to completely ruin your country's economy way beyond the level that is going to be seen in the U.K.?
>>79828254
>export financial services
Enjoy doing that without E.U. passporting.
>>79828103
Enjoy Wilders at 40% next year :^)
>>79827948
Because freedom without security or responsibility, is not freedom.
>>79827948
Because /pol/ is currently filled with retards and redditors who do believe that money and appeasing the (((merchants))) is all that matters.
So Ikea furniture costs more to import, but they are allowed to dredge their waterways again to prevent floods so they dont need new furniture.
EUR is -28.57% since its peak in 2008. ALL currencies have been shit against the almighty American dollar.
>>79828036
i love it when the basement dwellers on here suddenly become experts
>>79828480
>ALL currencies
Not Swiss Francs or Japanese Yen.
>>79827419
its at $1.30 usd value. it lost 2 more pennies and is still the most valuable currency on the planet
you need to stop posting comparisons to the euro nobody cares about the euro. you still have to convert shit to dollars to buy things internationally since your in the west
http://www.bloomberg.com/markets/currencies
>>79827419
Serious question, how is it a "3 decade low" when the graph you posted has a dip lower than where it currently sits?
>>79828678
They're talking about daily low.
>>79828480
>ALL currencies have been shit against the almighty American dollar.
The dollar doesn't want to be strong. They've been trying to devalue it because since 2008 to prevent deflation and boost exports. Every other currency has been doing the same. The Euro made the last big move with a new money printing program, which is still going.
>>79827948
Americans? What did we celebrate yesterday eurofuck? Wouldn't be our sovereignty would it? kys faggot
>>79827520
This matter is unfinished.
If we have to ruin this country almost to the point of no return to fix this sickness then so be it.
>>79828523
Yeah >>79828036
is stupid. Didnt take years for our manufacturing to hop over to china...took years for people to figure out what the fuck happened.
>>79828856
No one knows what resilience is anymore :(
>>79828036
actually most 'household staples' that are popular over here are produced in the UK, you only have to look at the back of a container to see that. don't assume that foreign companies import everything here, most of them have manufacturing operations here as it's cheaper than shipping everything over.
you're thinking of agriculture, and it's true we import a lot. this was never a good thing, and our agricultural industry is/was slowly being destroyed by cheap EU imports. if it becomes unfavorable to import food from the rest of the EU, our own agricultural industry will very quickly (within a seasonal cycle or two) adapt and will benefit in the long run.
you're correct, the growth of manufacturing will be a slow process - but this refers to the growth of precision and heavy engineering sectors that export to other countries, not to consumer goods which are already produced here for our own markets. don't try to pretend that the fall of sterling will noticeably affect our standard of living here unless you're living on the breadline as it is.
>>79828417
I thought no one else had noticed the influx.
>>79827610
>UK will still be subject to all EU regulations if it wants to stay in the single market just like Norway is.
In the same way Canada is subject to all the EU regulations. In the same way Canada is subject to all the Chinese regulations.
>>79828523
Yeah I love when /pol/ memesters claim to know more than actual experts.
>>79828311
>le EU passporting is so expensive meme
you think it's expensive to, in the worst case scenario, set up a small office in each country for passporting activities? the firms that would be significantly affected by any possible changes to EU passporting are large enough that doing this would be like a drop in the ocean to them.
lmao just two weeks ago it was 1.3, now its 1.17
>LMAO
>M
>A
>O
>>79827520
They don't even have freedom. If they'll want to work with EU they'll have to accept most of regulations anyway. And won't have any say in them.
On top of everything, they will only import more browns if they kick white Europeans out. What's even more laughable, Brits defend this.
Also, enjoy your recession, it's inevitably coming.
>>79829154
There will no Free Trade Agreement because those don't usually include financial services which is the only thing keeping the UK afloat. They need some EEA kind of deal to allow "financial passport" or it's done. So EU regulation and migrans up your arse it is, my good lad.
I WANT MY TENDIES!!!
>>79829378
>They don't even have freedom. If they'll want to work with EU they'll have to accept most of regulations anyway. And won't have any say in them.
In the same way the Japanese have to follow EU regulation when they sell to the EU.
>>79829291
"actual experts" are subject to the whims of their employers, don't fall into the trap of thinking that they're to be trusted just because the media has decided to listen to them. this is especially important right now, there's a huge amount of misinformation been thrown around, a lot of it by supposed "experts" who are just saying what they've been told to say.
>>79828480
And you can expect it to drop to below 1.00
But unlike UK, EU's economy is export based, it can only benefit us.
>>79829516
If only it were possible for economies to change with time. :^)
>>79829446
I don't think you know what you're talking about.
>>79827610
>UK will still be subject to all EU regulations if it wants to stay in the single market just like Norway is.
This is the most retarded meme in history.
Everyone who wants to sell goods and services into Europe is subject to EU regulations WHEN DOING BUSINESS IN EUROPE. It doesn't matter if you're in the single market or not. Just like if a non-Canadian company wants to do business in Canada they have to abide by Canadian law.
The point is they won't be subject to EU regulations when doing business outside of the EU. So it's purely voluntary whether a business wants to comply with those regulations or not.
a slight edit
>>79829360
It was bloated because they expected remain to win. Go back a few months.
>>79829632
Your three posts here say you have zero knowledge of real life economy.
>>79829505
I was talking about the actual experts of the Bank of England who always fought really hard to keep the pound strong. They know what a transition from a net importer economy to a net export economy looks like and they don't like it at all. But hey, I'm sure that guy posting memefrogs knows more than fucking Carney, who was sweating quite a lot the other day
>>79829871
>he thinks you need to follow the regulations of every country you trade with during every trade
>>79829807
GBP is very likely to drop further.
>>79829713
>central banks around the world do everything they can to devalue their currencies because there is a global currency war and it's the only way to keep your export industries afloat
>OMG THE POUND IS DEVALUING! UK BTFO.
The Bank of England is probably incredibly thrilled by this.
>>79827520
freedom has a price. our ancestors paid in blood. what would you pay? 10% GDP? 5%? 2%?
>>79829055
Pls don't forget about us, our economy is based around agriculture.
After you fucks shafted us and joined the EU we had to look to the US and later China to export to. I'm sure we can get business going again.
>>79830014
Oh God /pol/ is stupid as fuck. You guys might have it right on some topics, but when it comes to economy, /pol/ is miserably stupid. Brexit showed this.
>>79830014
Jesus christ
>>79830208
To reply to that comment, high Sterling is good for UK economy and weak one is bad. There are different kind of economies and UK is one of those which benefit from high currency value. They are on their way to recession.
>>79827520
>Exchanging freedom for temporary conveniences or promises of them
Hey, maybe you didn't really need to rebel against the Brits. After all, you had a stable economy. Fuck liberty and no taxation without representation, right?
>>79830208
>>79830338
I'm glad the Slovenes and the Spaniards are here to set us straight on macroeconomics.
>>79830208
>>79830338
He's right though. The ECB is currently printing euro's for the sole purpose of devaluing the currency. Most central banks have razor thin interest rates for the same reason.
>>79829378
>If they'll want to work with EU they'll have to accept most of regulations anyway. And won't have any say in them.
you seem to be under the misconception that the UK is as small and irrelevant as your backwater shithole. the same rules do not apply to us as apply to you. as it is right now, the EU is in a massive panic. it's going to implode over the next couple of years. once our government has stabilised we will be able to dictate terms to the shitshow in brussels, because no matter how much shouting and screaming you do it doesn't change the fact that right now the EU needs us more than we need them, as you said yourself it is an export based economy. we can always import from somewhere else, even on terms that are unfavorable to us for a while because nobody turns down an offer like that. who are you going to export to instead? we can cope with a bit of pain for a few years, we've done it before. do you think 27 countries, most of which are still developing, will be willing to put up with what they perceive to be a group of snide elitists in brussels when it will quickly become apparent that that is what is causing their economies to suffer?
what this comes down to is a game of bluff between us and the EU, and for the foreseeable future the EU has much more to lose than we do. brussels knows this, behind all their bluster it's obvious that they know that it's in their interests to give us what we want, because any other decision will lead directly to the collapse of the EU and chaos on the continent.
>>79827862
>No. Norway is a tiny meme economy. We have a huge trade deficit with the EU, if they want to be awkward they will be hurt more than us.
I'm ready to hurt as long as you hurt more.
>>79830076
i was actually thinking about you, that's what reminded me of how quickly agriculture can adapt. people here would much rather eat meat from the commonwealth than from south america and europe so hopefully we will be able to increase trade with you in the future.
>>79830470
This kind of thinking got you where you are right now. Keep doing it, why would I care...
>>79830435
Tranquilo Pancho, recuerda lo que pasó la última vez que fuimos para allí
>>79830465
The EU works on exports, so it makes sense. BoE never tried this and for a good reason (same reason they didn't join the euro when it looked like a great idea)
>>79830470
>muh UK is spucial rules don't apply
Cringing hard tbqh
>>79829154
Canada doesn't have access to the EUs single market, you dumb fuck.
>>79830894
>single market
We don't want access to the single market. The single market IS the free movement of people.
>>79830961
>We don't want access to the single market.
Whatever you say champ. You don't even know what that means.
>>79830398
>>79830575
>>79830746
>>79827948
They would have called us cucks if we voted to stay. We can't win we've these bitter new-worlders who have no blood and soil mentality.
>>79830398
>high Sterling is good for UK economy and weak one is bad.
Bullshit. The Bank of England has been devaluing the pound a lot since 2008 to boost exports. The devalued more than the Euro has.
How is a weak pound bad?
>>79830798
>BoE never tried this
Yes they did, they've had quantitive easing programs and low interest rate policies since 2008. The UK exports too. That's part of the reason they wanted out of the EU.
>>79830961
>We don't want access to the single market
oooh boy you're in for a treat when the negotiations begin lad
>>79831100
Tell me then, what is the EU single market? :^)
>>79831205
Are you one of those people who Googled "what is the EU" on the 25th?
>>79831122
>>79831179
Every candidate has said flat out there won't be free movement of people. The single market IS the free movement of people.
>>79831136
dont know why they want to boost export UK dont export anything :D
>>79831278
Does little nedercuck not know what the single market is?
The single market is the free movement of labour, capital and services. No one wants the free movement of labour therefore we do not want the single market.
>>79828377
true aussie shitpost
security from what? all the islamic terrorists the EU keeps letting in?
responsibility to whom? isnt sovereignty accepting responsibility for your people? rather than the people of other nations? why should britain have to help, say greece, take care of themselves when they wont take responsibility themselves?
>>79830731
I don't really see what the problem is here, the UK legit has an empire that it can start to negotiate trade deals and it had far better relations with the US than the EU.
The market is in turmoil because it hates uncertainty. Watch as everything settles down the market will recover.
>>79830746
>This kind of thinking got you where you are right now.
to where exactly? into a position where the EU will have a choice of either accepting our terms and surviving for a few more decades, or denying us and collapsing completely due to infighting within 5 years? we will benefit from both outcomes, you will not.
>>79830798
>"Cringing hard tbqh", posted pablo from the unemployment line
my sides
>>79831136
>How is a weak pound bad?
Even what they export depends on imported commodities and especially intermediate products (products parcially produced somewhere else and finished within the country). A weak pound makes all that shit more expensive and the whole UK indsutry even less competitive.
A weak currency on a net import economy means inflation, which eats away all the competitivity gains of the currency drop and only makes people poorer. As I said, the guys of the BoE know what they were doing, this is really bad
>>79831418
But you do want the free movement of goods and services, so you do want access to the single market.
POSTING IN COMMUNIST JEW THREAD
>>79831122
News from March 2015 when inflation was on it's way to zero. Completely irrelevant.
There's a reason why most central banks want inflation to be around 2%.
>>79831591
>free movement of goods and services
That isn't the single market. Even Mexico has access to this.
Property funds suspended
http://www.ft.com/cms/s/0/b17b4250-427f-11e6-9b66-0712b3873ae1.html
https://www.theguardian.com/business/live/2016/jul/04/stimulus-hopes-markets-ftse-100-construction-business-live
>>79831511
i agree, you probably have a different view looking in as an outsider but right now there is an unbelievable amount of scaremongering going on here still. the globalists are panicking and pulling out all the stops to do as much damage control as they possibly can, this means terrifying the general public into thinking remaining in the EU is the only possible way forwards.
just look at this thread and any other brexit thread, look at the nationality of pro-EU shills, the vast majority are literal yuropoors, the ones who stand to lose a great deal if the EU collapses.
>>79831591
Every country in the world that the EU doesn't have sanctions against has "access" to the single market
>>79831580
>A weak pound makes all that shit more expensive and the whole UK industry even less competitive.
yes, there are of course pro's and cons. But there are net pro's to the economy. All wages in the UK get cheaper for one. Debt also get's easier to pay.
>A weak currency on a net import economy means inflation, which eats away all the competitivity gains of the currency drop and only makes people poorer.
Agreed. People earn less money, but the economy is stronger.
>As I said, the guys of the BoE know what they were doing, this is really bad
I wouldn't presume central banks "know what they are doing". They've also been pushing a policy of having a weak pound to boost exports since 2008, so I don't know what you're basing any of that off.
>>79831751
>There's a reason why most central banks want inflation to be around 2%.
Looks like they have a lot of room for extra inflation then. Thanks for furthering my case dumbass.
You know, I didn't really have any opinion on the intelligence of Slovenes before today. That has changed.
>A whole 3 cents...
No wonder we need a blanket of nuclear fire
>>79831768
>>79831842
No. Free movement of goods means a customs union, no tariffs etc.
Educate yourself.
https://en.wikipedia.org/wiki/Internal_market
>>79832352
My point is there's a difference between being IN the single market, and having ACCESS TO the single market.
People trying to claim that the UK won't have ACCESS TO the single market are lying. That literally just means being able to buy goods from and sell goods to EU countries.
>>79832352
>mfw he posts a link telling me what I've already been telling him as if it were a contradictory
>also known as the European single market, is a single market that seeks to guarantee the free movement of goods, capital, services, and people
>>79832352
The EU has free trade agreements which do not include adopting "freedom of movement" you know? This is what they're about to agree with Canada. This idea of freedom of movement being a prerequisite to free trade is a lie you were sold to trick you into merging into one huge country. Nowhere else in the world is this practiced.
https://en.wikipedia.org/wiki/Free_trade_area
>>79827419
oh noes, I hope those big merchant banks are going to be ok.
>>79830435
My thoughts exactly, economies smaller than Canada should not be permitted to speak about Brexit.
>>79831850
Most of UK's savings are worth less too, their economy keeps on depending on imports for everything, People got instantly fucked by this even before anything is done and the brexit shills are still drinking champagne as their Ieaders jump ship. Carney was worried as fuck and admitted there was only so much he can do the other day. I don't really know how can anyone defend this.
Only the amerifat who unironically thinks the UK within the EU was in the same position as Mexico in terms of trade is commited to this fuck up anymore, I think
>>79827948
>>79828029
>>79832058
You're mixing stuff up. You were trying to show me I was wrong by posting picture from article from March 2015 (a lot has happened since) which has little to do what is going on right now. And now you're posting another picture showing UK inflation rate, which by itself says nothing (almost) about an economy without other factors. At least get your facts straight and stop mixing shit up.
Talking about intelligence...
>>79827419
(((Economics)))
>>79827948
>>79828029
>>79832948
http://www.telegraph.co.uk
/news/worldnews/europe/eu/9845442/EU-to-set-up-euro-election-troll-patrol-to-tackle-Eurosceptic-surge.html
>>79828480
whatever you say m8
>>79832980
>being this retarded
>>79830470
small-minded English exceptionalism on display here, folks.
keep pretending that your dead empire still matters. the rest of the world couldn't care less.
>>79832868
>Most of UK's savings are worth less too, their economy keeps on depending on imports for everything
And like I said, there are more pro's than cons. This is why it;s been the BoE policy to devalue the pound.
There is much more debt in the UK than savings, so devaluing the pound is a net positive on average.
>their economy keeps on depending on imports for everything
No, not everything. Many things. But they also export a lot of shit. Most jobs and business depends more on being able to sell exports than afford imports.
>People got instantly fucked by this even before anything is done and the brexit shills are still drinking champagne as their Ieaders jump ship.
How so? Stock market is better than ever. In what sense are people instantly fucked?
>>79827520
>t. Sarcastic American day after the 4th
KYS
>>79833153
Kill yourself leftist cuckold
>>79833153
Interesting how they were the first lining up to arrange new trade agreements though.
>>79833223
Intredasting mix-up, and timely
>>79832727
Rare
>>79827520
freedom of a monarch to dictate us then yes we have freedom.
>>79829338
>you think it's expensive to, in the worst case scenario, set up a small office in each country for passporting activities?
Why would they do that? They'd just move their Euro headquarters out of London and leave a small office there instead.
>>79832980
>moving the goalposts
>>79833166
>There is much more debt in the UK than savings, so devaluing the pound is a net positive on average.
Not for the people who has the savings, no. I'm talking about the common people and you keep answering me with macro shit.
>Most jobs and business depends more on being able to sell exports than afford imports.
Not really either. The UK has one of the worst balance of trade in the entire world. Also the main destination of UK exports is the EU, so take into account that exports depends on no tariffs being implemented, which also means the four freedoms being implemented, making the brexit meaningless.
>How so? Stock market is better than ever. In what sense are people instantly fucked?
Because the money in their pocket is worth less. If they were planning a nice holidays in France or going to some US college, that shit got 10% more expensive in a couple of weeks. That's being fucked.
And I'll like to see how FTSE reacts the day some UK guy goes to Brussels to talk about art50.
>>79831836
Yeah, I catch it all on here with the EUfags and 48% acting like it's the apocalypse.
I would try spread the word that you're a country that has friends outside of the EU. Despite the banter your ties with Aus/Nz will always be strong. Not sure if you're still on speaking terms with India but there's options there and also in the Caribbean.
In 10 years we will reflect on this and laugh at how retarded they were.
DON'T MIND US, GUYS. JUST HALTING TRADING ON PROPERTY FUNDS HERE FOR BANTZ. NOTHING IS WRONG
>http://www.bbc.co.uk/news/business-36715806
>>79828377
>You are only free if you are a slave.
Learn brevity.
>>79833716
How little you understand of your own history.
>>79832980
First you said "A strong pound is good for the UK". So I posted screenshots of articles from about a year ago showing that the BoE considered the strong pound to be a serious threat the the economy.
Then you said "There's a reason that central banks have inflation targets of 2%", and that is indeed the BoE's inflation target. So I showed that the UK's inflation rate is still running far below that target, therefore a devalued GBP should be welcomed by the BoE because it means they have less work to do to meet their target.
Any way you slice it you got BTFO.
>>79834011
>Because the money in their pocket is worth less. If they were planning a nice holidays in France or going to some US college, that shit got 10% more expensive in a couple of weeks. That's being fucked.
It's not bad for the UK economy though.
>Brits take fewer vacations and buy fewer imports, spend more money at home instead
>This fuels domestic demand and boosts the economy
>>79827520
Freedom is not free.I thought a burger would know that.
I swear Mark Carney is a fucking plant deliberately trying to fuck things for us
>>79831133
Some of the locals I talked to are almost butthurt about Brits choosing sovereignty. You'd think they would appreciate a country's desire for self-determination when we whine so much about a history of being shafted so much by the USSR and other empires before. But nope, "this time it will work, the masters will be good this time!" apparently. I can't believe these people.
Good job on choosing democracy over fear, lads.
>>79827419
it's to be expected. uncertainty is never a good thing for any market. GBP 10 and 20 year futures are doing better than any other country in the world right now dumb assholes. besides, the GBP has been falling for 3 years stright. its only had 1 up quarter in the last 11. go away economics niggers http://www.bloomberg.com/news/articles/2016-06-21/deutsche-prefers-u-k-stocks-to-germany-s-brexit-or-no-brexit
>>79834409
There isn't US colleges and french beaches, nor cheap oil, copper, aluminum, fruits etc. There is no easy national substitute for most thing the brits import, otherwise they would be buying that instead of the foreign product.
You can do as much mental gymnastics as you want, people being poorer is bad for the people.
buy-to-let parasites bailing on the market. not a bad thing. maybe now brits can have some fucking regulation and reduction of restrictions on first time buyers
>>79834750
>There isn't US colleges and french beaches, nor cheap oil, copper, aluminum, fruits etc in the UK*
fuck sorry
GBP falling for almost 3 years striaght 31/36 months finished down
>>79834214
>So I posted screenshots of articles from about a year ago showing that the BoE considered the strong pound to be a serious threat the the economy.
Yes, back then it was. Inflation trend was on it's way to reach zero and even further, to deflation zone. But those were different times and don't have as much in common with what's happening right now as you probably think.
>Then you said "There's a reason that central banks have inflation targets of 2%", and that is indeed the BoE's inflation target. So I showed that the UK's inflation rate is still running far below that target, therefore a devalued GBP should be welcomed by the BoE because it means they have less work to do to meet their target.
Yes, the inflation target will likely be reached.
But:
>which by itself says nothing (almost) about an economy without other factors.
Inflation will likely be one positive side of the whole Brexit thing, but all in all their economy has already entered a downward trend.
>>79828377
You mean promises of security and responsibility. Which end up being empty, letting them take away yet more freedom for even more promises of stability and security.
How is it like being a cuck?
What about the interest rates you keynesian fuck?
>>79827419
Meh so we will be poor for a while. But I would rather be a britpoor than a europoor!
On a serious note, Brexit shook the entire economic world so of course the was going to happen. Yes it may take years to fix but we will be ok.
>>79827419
ALMOST REACHING PARITY WITH THE EURO HNNNNNNNNNGGGGGGG
TIME TO BUY SHIT FROM UK RETARDS ON EBAY
>>79834901
>Inflation will likely be one positive side of the whole Brexit thing, but all in all their economy has already entered a downward trend.
But my original post that you and the Spaniard took umbrage with was strictly about the declining value of the pound being something the BoE would likely be happy about.
So you're now admitting that I was right to begin with?
>>79835504
I didn't follow your discussion but I know for a fact the BoE is not happy about the pound dropping and Brexit in general because of Carney's speech
>>79834901
>>79835504
Btfo. You literally agreed with the post you took such offense too. Fucking slavs and Spaniards.
>>79835768
>the BoE is not happy about the pound dropping and Brexit in general because of Carney's speech
I'd agree that they're not happy about Brexit in general.
I absolutely disagree that they're not happy about the pound dropping since it will help them meet their inflation target, which they are very far from reaching at the moment.
>>79835947
Actually the inflation rate is so low because the oil prices, which is coyuntural and the pound dropping all these years was because the monetary stimulus packages all those years and the BoE interest rates (you lower the interest rate of the central bank -> more people are going to ask you for money -> you're printing more money -> the money is worth less). It's not the same as losing a 10% in two weeks because that reeks of investors losing confidence.
>b-but muh FTSE
Nothing has happened yet, you need to be a big pussy or the jewest especulator on earth to short on all your shares when you don't even know if the UK is leaving for real or not. Currency is where you can see the real reaction
>>79835504
>But my original post that you and the Spaniard took umbrage with was strictly about the declining value of the pound being something the BoE would likely be happy about.
You were wrong.
>>79836600
>Actually the inflation rate is so low because the oil prices, which is coyuntural and the pound dropping all these years was because the monetary stimulus packages all those years and the BoE interest rates (you lower the interest rate of the central bank -> more people are going to ask you for money -> you're printing more money -> the money is worth less). It's not the same as losing a 10% in two weeks because that reeks of investors losing confidence.
A decline in the value of the pound is a decline in the value of the pound. The BoE is not going to look a gift horse in the mouth because their open market operations weren't the root cause of it.
>You were wrong.
So you agree that the BoE wants to increase inflation, but you disagree that they want a weaker pound? Explain.
>>79833381
are we just going to ignore this flag?
>>79837254
Who cares about the place where muslims who blow themselves go.
>>79837185
Here, from 5 minutes ago:
http://www.telegraph.co.uk/business/2016/07/05/ftse-100-falters-and-pound-plunges-back-towards-31-year-lows-as/
>In March, Carney had warned that Brexit posed significant near-term domestic risks to financial risks. Today, Carney said: "Some of those risks have begun to crystallise"
How does this sound like to you?
>>79837254
It does appear to count as rare.
>>79837626
>How does this sound like to you?
That he's concerned about the effects on the UK economy that a Brexit might have, which is separate from concern about the value of its currency.
>>79828480
OK m8
>>79837626
>inb4 telegraph
There are other sources too, it was just first to appear on my search. I watched his speech since it's relevant to my interests but didn't want to give my review based on my memory which might have been wrong to a degree.
>>79837946
The value of currency has significant effect on economy.
>>79834011
>Not for the people who has the savings, no
That's why i said "on average"
>The UK has one of the worst balance of trade in the entire world.
All the more reason to weaken the currency.
>Because the money in their pocket is worth less.
And for the reasons I said, that's not a big deal.
>If they were planning a nice holidays in France or going to some US college, that shit got 10% more expensive in a couple of weeks. That's being fucked.
Like I said, the pros outweigh the cons for the economy. Obviously some people get completely fucked by a weak pound.
>And I'll like to see how FTSE reacts the day some UK guy goes to Brussels to talk about art50.
Why? The market obviously isn't worried about what will happen or it would be factored in to the current stock prices. The market is always thinking 10 steps ahead.
>>79838291
Yes, it does, but Brexit fears are about uncertainty over trade agreements and the possibility of UK-based financial institutions leaving the UK.
The BoE's response to the 'crisis" is to cut interest rates. If they were concerned about the value of the GBP dropping, wouldn't they do the opposite?
>>79837185
Right, like if you're losing weight and suddenly you get cancer, you should be happy about the chemo leaving you like a skeleton. No man, the pound dropping was a side effect of the other shit they were doing and actually one of the reasons they didn't do even more shit. It goes like this: you fight inflation by printing money, and by printing money, as an unwanted side effect, the currency drops. So yeah, they wanted to control the drop with the OMO and now they can't.
Also it was quite clear lately it wasn't working as expected because the balance of trade was getting worse and worse as the years passed. People in the UK were buying just the same just more expensive, which is exactly what's going to happen now.
>>79834409
What does the UK economy even do, except juggle numbers and produce wine gums?
>>79838975
>as an unwanted side effect, the currency drops.
That's not remotely unwanted. It's been a policy every major economy has been pursuing since 2008. Have to to literally not read any financial news in the last 8 years to not know this.
>>79838968
Which would mean deflation. It's a double-edged sword. See
>>79838968
I don't know what exactly are they doing, they are trying to minimise the damage however they can. The problem is, all major central banks are doing the same thing: quantitative easing + cutting rates. And if all of them are doing it, it has little effect on global scale. BOE will do whatever little they can and probably hope for the best.
>>79839915
Dammit, I meant. See
>>79838975
>>79827419
hmmmmm
>>79838517
>All the more reason to weaken the currency.
Like I said, no. The reason a currency drop helps an economy is by switch imports for national products, but when you don't have a lot of industry, there's no national substitute and you have to buy the same things at whatever price. They tried to do something like this in South America in the 70s, it didn't work
https://en.wikipedia.org/wiki/Import_substitution_industrialization
As I said to the other guy, the pound was dropping steadily since 2009 or so and the balance of trade was at the worst in history.
>>79827419
>3 year low
>shows a 12-hour graph
LEAF
>>79840487
>Like I said, no.
Why no? Nothing you said implies I'm wrong. A weaker currency encourages people to buy less imports and more national products. Just because it doesn't reverse the trade deficit doesn't mean it's not a help. If you have a trade deficit like that in the first place it implies your currency is overvalued. This was impossible when the gold standard was going, because running a trade deficit would mean all your gold leaves the country and you would have to devalue your currencies exchange rate for gold to compensate until the trade imbalance fixed itself.
>>79840526
>FTSE100 is GBP now
burgers
everytime
>>79838975
>you fight inflation by printing money
Exactly wrong.
>>79839915
>cutting interest rates causes deflation
Holy fuck, you guys are both fucking retarded.
>>79827419
Patently false because it dropped to 1.2X after brexit.
>>79827419
>Dont worry guys it's gonna bounce back any minute now
>>79830470
It seems that you're forgetting that it's YOUR country that is trying to get access to the European single market, not the other way around. UK is the bitch in the negotiations here.
>the EU is in a massive panic. it's going to implode over the next couple of years
Meanwhile in real world - Brexit causes countries like Denmark to lower their desire to have their own EU referendum
http://jyllands-posten.dk/politik/ECE8820891/dansk-lyst-til-at-stemme-sig-ud-af-eu-er-dykket-efter-brexit/
All while British economy (eg. pound) is crumbling, the political scene is in complete chaos and there are talks of an independent Scotland.
So pretty much everything that /pol/ predicted taken upside down. Have fun Britfags.
Fucking neets and chavs are fucking my shit up this year.
Hope the job center stops your benefits for a few weeks. Cunts
>>79827520
Stop speaking like a nigger.
What you just wrote was Haitian-tier.
You'll end up like them if your politicians don't get their shit together.
>>79829807
It was bloated to 1.44, then went to 1.34. now 1.14. YOU go back and look at it lol
>>79841971
Is it bad for Japan? Why?
>>79841642
You misunderstood. It's the opposite. Do you even read your own text?
> wouldn't they do the opposite?
>Which would mean deflation
>>79841178
>Why no?
Because you're thinking this from the perspective of an industry based economy when the UK is a service based economy. Excluding tourism (which it's obviously going to go well), services tend to have a high added value and not to be affected by fluctuations in prices that much. A currency drop in an economy that works as a net importer and with a hard time offering national substitutes just makes the people poorer. What I'm saying is that in the UK there's no industry enough to compensate the higher demand of national products (and this demand won't be enough to create one short term), and that's why they have more and more trade deficit as the pound was dropping. Screencap this: this new currency drops won't help the balance of trade either. They'll just make the people poorer and that's that.
>>79841530
I meant deflation, fuck.
>>79842231
You're right, I misunderstood you; you weren't clear on what you were saying would cause deflation. It didn't help that your Spanish compatriot was claiming that central banks fight inflation by printing money.
I think the pound is falling because markets are predicting that the BoE will be cutting interest rates/printing more money. I think the BoE is will do what it feels it needs to do to stabilize the economy (and I think the threat is overblown, which is reflected in the FTSE stock prices), but I sincerely doubt that they are sweating the lower pound.
>>79842380
>A currency drop in an economy that works as a net importer and with a hard time offering national substitutes just makes the people poorer.
Doesn't matter. My point is weakening the currency would help the trade deficit. If exports become more expensive, then people people buy less of them. If national products, be they services or whatever do not get more expensive, they become more attractive. Maybe everyone is worse off in terms of total buying power, but it helps the trade deficit. Which was my point. It also encourages british business to start up to make and sell the products that are currently imported at a higher price. This is how trade deficits are balanced.
>>79827862
Actually, they dont give a fuck about the trade deficit as long as they get the lion share of the City business.
Switzerland is renegociating now. Its share to the EU bodget will double. So is yours if you want access to the single market.
Plus you will be under EU laws to access it.
Canada is irrelevant since their access is very limited and have a deal with Us of A that makes them the 52nd state after Mexico.
60% of your business is eith EU. It is not like you can do without.
Norway pays proportionnaly 2.5 times more to access the simgle market.
Brexit is an auto goal for sovereignists
>>79842171
Its bad for me, someone who needs to exchange £ into ¥
>>79842827
This. And having a short term time preference over a long term time preference when doing economic policy is short sighted.
inb4 "in the long run we're all dead"
>>79842827
It'll help but just because the brits will buy less imports, because they will be poorer. If that was what you were saying, then we agree. But it's actually a bad thing. It's just like a recession helps the balance of trade too. Importing is not a bad thing per se.
>>79843415
>But it's actually a bad thing.
So are trade deficits. Sometimes you need to let the economy shrink in order to fix shit that's unsustainable.
>It's just like a recession helps the balance of trade too.
No they don't. They just reduce imports and exports. Things are still bad proportionally.
>>79842641
The Pound has broken through multi-decade support line, which is more than worrying.
>>79843588
>They just reduce imports and exports. Things are still bad proportionally.
That's quite a globalist thing to say, lol. A local recession only reduce imports (why would the exports be affected?), a world wide recession does what you say
>>79827948
haha montenegro you would say this you don't even have your own currency
>>79829338
I dpeak from experience.
Swizzerland lost 2 tirds of the banking jobs since it refused to join the EU . The labor market is awefull compared to what it was only 5 years. This without any economic contraction....
The city is going to get raped.
>>79843788
>why would the exports be affected?
reduced exports are likely a factor in most recessions. Hard to have one without the other.
>>79829648
Export in EU is doing buisiness in EU.
THERE GOES ANOTHER PROPERTY FUND
>http://www.bbc.co.uk/news/business-36715806
>https://twitter.com/econbuttonwood/status/750350102670274560/photo/1?ref_src=twsrc%5Etfw
>>79827419
lol the pound stabilized almost immediately
>>79843704
Against the USD. Forgot to add, it matters.
>1.33 to 1.31
>depicted as a giant chasm
lol
>>79828036
All the shitskins will fuck off.
>>79844058
M&G fund is bigger than both the Aviva and Standard ones.
>it's all going so well
>>79843820
You can barely dpeak at all
>not buying the dip
>>79828377
Those who surrender freedom for security will not have, nor do they deserve, either one.
-Benjamin Franklin
>WE $1.30 NOW
>WE $1.30 NOW
>WE $1.30 NOW
>WE $1.30 NOW
>WE $1.30 NOW
>>79827520
LOL YOU GOYS
filthy kike
