G B P Warning For Brits; Possible Sterling Crisis !

[bungy007]

I was also talking about the "doom & gloom" with a friend yesterday, we were reflecting on the fact neither of us had managed to park in a very full shopping centre and were having problems trying to find somewhere to eat because restaurant queues were too long. Recession...what recession ? Don't get me wrong, I'm aware that two swallows don't make a summer and there is a long way to go, maybe those queues won't be so long when the tax hikes start, there will be a lot less foreign holidays...but i think there is a begrudging acceptance that's going to happen. I still think that the institutions and the fundamentals are strong and transparent and we will weather this, I also think the majority of foreign investors feel the same and that there will be buyers for sterling, I don't see a run or even a slide, just a few bumps along the way.

I think that the SS Great Britain will keep afloat, I prefer the accommodation and decor on the Thaitanic but less sure about its navigational ability.

I agree - all these stories about how the UK is doomed sell newspapers, but I'm sure that the place will muddle through. Sure, there will have to be some belt tightening, but life goes on.

Yes. Agreed. As Pink Floyd put it 'Hanging on in quiet desperation is the English way'.

[DarloKnight]

Just like to let you know that on my way to work this morning I was listening to the radio in the car (local raidio station) On the news it is reported that local business say they are now getting out of the recession and business looks good, so someone please explain that?? I have stated in a previous post how we have more than doubled our work force in the last 3 months. My personal opinion is that alot of expats from the UK would love to see the Country they were born in go under if I'm wrong I'm sure you will let me know

[Chaimai]

My personal opinion is that alot of expats from the UK would love to see the Country they were born in go under if I'm wrong I'm sure you will let me know

Not when their income/pension is denominated in Sterling

[LaoPo]

As I remember the last time the IMF told The Uk that We were not up to standards, and through us out , The pound flurished, The Euro is unstable, because of the down turn in the world econamy, Small Countries cannot keep contributing to the IMF, to keep the value of the Euro High.The dollor is used by countries that are not American so that can affect its value,The Russian ruble has its problems , So has the Chines yen, Even India , Britain is not a safe bet but I would put my Money on it to recover better than most, At least Britain has admited the problem and has started to deal with it , Other Countrys have just ignored it and hope it goes away , or have not exactly told the truth, as to how much trouble they are in ,

1. China has the Renminbi currency, shortened RMB, which consists of Yuan units. Japan has the Yen.

2. That's pure nonsense. Every single country in the world is fully aware about their own current financial and economical problems.

Now you suggest that Britain is the only country that has shown it's bare butt by admitting it's problems and is honest to itself and their citizens....really ?

I think you will burn yourself quite severely when you put all of your money on the GBP and/or in the country's assets now like you say.

LaoPo

Now you suggest that Britain is the only country that has shown its bare butt by admitting its problems and is honest to itself and their citizens....really ?

The poster didn't say UK was the only country; but are you saying your comment applies to Thailand?

No, indeed, he didn't say that but he suggested it by writing: "Other Countrys have just ignored it....."

No, my comments were not addressed to/about Thailand. I was talking about the world and it's countries

LaoPo

[chiang mai]

One of the unique features of this recession is the degree to which the media is being used in various "hearts and minds" campaigns by all manner of people. Given that consumer confidence is one of the main keys to recovery it's not surprising that we've seen a whole host of positive spin reports from vested interest groups and doubtless various governments have used this tool also. When the FTSE was at 3,500 Anthony Bolton called bottom and said buy, was he right, I don't know. But his role as President of investments for Fidelity makes me somewhat suspicious although history has now shown that was a good call. Jim Rodgers on the other hand called GBP "toast" at 1.40 and as an ex partner in the Soros Quantum fund he must know a few tricks - history shows however that was not a good call. Hearts and Minds, vested interest or knowledgeable informed source, can't really tell!

On the other hand we have the Motley Fools, Finance Guru, HousePriceCrash Forum and a whole host of others who would like to believe that they have a scoop and are publishing the "real truth" about what's happening in various market segments or indeed over all. Some of them are actually pretty good and point to their track record of being right on this that and the other which often makes them more credible. One chap that I read has an outstanding track record and has been spot on with most of his major calls and he doesn't seem to want to sell me anything or indeed to have any vested interest other than to be right, highly commendable I reckon.

Trying therefore to assess the true state of play at any point in time so that individuals can make informed judgments is really difficult - should I take the Central Banks, OECD or IMF report at face value or should I listen to what's being said elsewhere? Difficult to know who or what to believe! It therefore comes as no surprise that there is a such a diversity of opinion on the subject of GBP recovery or not - great reports from some people in the UK say business is booming, others suggest the situation is dire, perhaps both are true and correct based on location. But for most folks in Thailand, trying to make sense of GBP futures will almost certainly come down to one simple truth, who and what do you read on this subject. Unfortunately, too many posters don't read much at all on the subject and simply pick up a headline or sound bite and run with that thought as a direction. That's not a criticism since TV is designed for such things but for those readers trying to find serious answers to the question of futures, best not to take much of what's said here too seriously and better just to treat it as yet another information feed, one of hopefully many.

[DarloKnight]

One of the unique features of this recession is the degree to which the media is being used in various "hearts and minds" campaigns by all manner of people. Given that consumer confidence is one of the main keys to recovery it's not surprising that we've seen a whole host of positive spin reports from vested interest groups and doubtless various governments have used this tool also. When the FTSE was at 3,500 Anthony Bolton called bottom and said buy, was he right, I don't know. But his role as President of investments for Fidelity makes me somewhat suspicious although history has now shown that was a good call. Jim Rodgers on the other hand called GBP "toast" at 1.40 and as an ex partner in the Soros Quantum fund he must know a few tricks - history shows however that was not a good call. Hearts and Minds, vested interest or knowledgeable informed source, can't really tell!

On the other hand we have the Motley Fools, Finance Guru, HousePriceCrash Forum and a whole host of others who would like to believe that they have a scoop and are publishing the "real truth" about what's happening in various market segments or indeed over all. Some of them are actually pretty good and point to their track record of being right on this that and the other which often makes them more credible. One chap that I read has an outstanding track record and has been spot on with most of his major calls and he doesn't seem to want to sell me anything or indeed to have any vested interest other than to be right, highly commendable I reckon.

Trying therefore to assess the true state of play at any point in time so that individuals can make informed judgments is really difficult - should I take the Central Banks, OECD or IMF report at face value or should I listen to what's being said elsewhere? Difficult to know who or what to believe! It therefore comes as no surprise that there is a such a diversity of opinion on the subject of GBP recovery or not - great reports from some people in the UK say business is booming, others suggest the situation is dire, perhaps both are true and correct based on location. But for most folks in Thailand, trying to make sense of GBP futures will almost certainly come down to one simple truth, who and what do you read on this subject. Unfortunately, too many posters don't read much at all on the subject and simply pick up a headline or sound bite and run with that thought as a direction. That's not a criticism since TV is designed for such things but for those readers trying to find serious answers to the question of futures, best not to take much of what's said here too seriously and better just to treat it as yet another information feed, one of hopefully many.

Wow!! Very good post.

As you have pointed out it depends on the area of the UK I'm based in Yorkshire and it is all very positive where I am. Also I know things can change as they have done in the past 3 months. Only time will tell.

[neil324]

Just like to let you know that on my way to work this morning I was listening to the radio in the car (local raidio station) On the news it is reported that local business say they are now getting out of the recession and business looks good, so someone please explain that?? I have stated in a previous post how we have more than doubled our work force in the last 3 months. My personal opinion is that alot of expats from the UK would love to see the Country they were born in go under if I'm wrong I'm sure you will let me know

Ok great...

Being a bricklayer, i can get my very large and extensive contacts book out with excitement and confidence of obtaining some work then.....?

Shall i hold my breath

Talk is cheap and <deleted> on radios talking shit dont pay the bills....

[khunsook]

I have a government pension which is exactly half of my salary when I was working. However I paid into the retirement system for the whole time I was working so this is really my own money. This is the case with many if not most govt. employee pension systems. However the govt. has lent money from this fund and used it for other purposes so now the whole pension system is in a big mess.

[DarloKnight]

Just like to let you know that on my way to work this morning I was listening to the radio in the car (local raidio station) On the news it is reported that local business say they are now getting out of the recession and business looks good, so someone please explain that?? I have stated in a previous post how we have more than doubled our work force in the last 3 months. My personal opinion is that alot of expats from the UK would love to see the Country they were born in go under if I'm wrong I'm sure you will let me know

Ok great...

Being a bricklayer, i can get my very large and extensive contacts book out with excitement and confidence of obtaining some work then.....?

Shall i hold my breath

Talk is cheap and <deleted> on radios talking shit dont pay the bills....

Work is there if you look for it!!! We are setting on at the minute for packers not bricklayers but a job is a job , I would clean public toilets has long as I had a wage coming in and I am a accountant!!! Some people either want work or not. You have to look for it it ain't going to come knocking on your door!!

So please get off you high horse and look for a bloody job instead of wasting your time on the internet while you could be looking.

[chiang mai]

Just like to let you know that on my way to work this morning I was listening to the radio in the car (local raidio station) On the news it is reported that local business say they are now getting out of the recession and business looks good, so someone please explain that?? I have stated in a previous post how we have more than doubled our work force in the last 3 months. My personal opinion is that alot of expats from the UK would love to see the Country they were born in go under if I'm wrong I'm sure you will let me know

Ok great...

Being a bricklayer, i can get my very large and extensive contacts book out with excitement and confidence of obtaining some work then.....?

Shall i hold my breath

Talk is cheap and <deleted> on radios talking shit dont pay the bills....

Work is there if you look for it!!! We are setting on at the minute for packers not bricklayers but a job is a job , I would clean public toilets has long as I had a wage coming in and I am a accountant!!! Some people either want work or not. You have to look for it it ain't going to come knocking on your door!!

I'd have to agree with that sentiment, trouble is these days that folks are so used to earnings in a certain range that many have yet to adjust to accepting anything below that range - I have a couple of friends/colleagues going through this at the moment, people who are used to earning six figure sums and who could pick and chose their assignments. Today, times are much harder and they can't find work in their own field and are setting their sights lower, notch by notch. It's not easy but it has to be done and I also would be happy to pack bags in Tesco's rather than have no income at all.

[DarloKnight]

Just like to let you know that on my way to work this morning I was listening to the radio in the car (local raidio station) On the news it is reported that local business say they are now getting out of the recession and business looks good, so someone please explain that?? I have stated in a previous post how we have more than doubled our work force in the last 3 months. My personal opinion is that alot of expats from the UK would love to see the Country they were born in go under if I'm wrong I'm sure you will let me know

Ok great...

Being a bricklayer, i can get my very large and extensive contacts book out with excitement and confidence of obtaining some work then.....?

Shall i hold my breath

Talk is cheap and <deleted> on radios talking shit dont pay the bills....

Work is there if you look for it!!! We are setting on at the minute for packers not bricklayers but a job is a job , I would clean public toilets has long as I had a wage coming in and I am a accountant!!! Some people either want work or not. You have to look for it it ain't going to come knocking on your door!!

So please get off you high horse and look for a bloody job instead of wasting your time on the internet while you could be looking.

I think I have hit a raw nerve. I would clean toilets if it ment my family eating and paying the mortgage.

As for my grammer I never claimed to have a high education as I stated in my very first post on this thread.

[JimsKnight]

Pensions are screwed, which is going to screw the retired so they claim social security which in turn goes to screw that system. The fundamental haven't added up for years and the writing was on the wall well before this crisis.

The fact is that you cannot have people spending so long in education and so long in retirement which leaves only a limited time in the productive working environment. People are not going to start dying younger nor are they going to start going to work younger, so the only two options are either to tax them more or make them work longer, in terms of raising the retirement age. The answer is simple, higher taxes and a higher retirement age.

Indeed.

LaoPo

Yep, a lot of folk who've sneaked out to Thailand while raking in the dole / medical / disability benefits (under the precedent of being a UK resident) may be in for a rude awakening if spending gets cut and clampdowns occur....

[Chaimai]

Talk is cheap and <deleted> on radios talking shit dont pay the bills....

...neither does sitting on your arse and doing <deleted> all. "Get on yer bike" I believe was the message........

[thaibeachlovers]

Pensions are screwed, which is going to screw the retired so they claim social security which in turn goes to screw that system. The fundamental haven't added up for years and the writing was on the wall well before this crisis.

The fact is that you cannot have people spending so long in education and so long in retirement which leaves only a limited time in the productive working environment. People are not going to start dying younger nor are they going to start going to work younger, so the only two options are either to tax them more or make them work longer, in terms of raising the retirement age. The answer is simple, higher taxes and a higher retirement age.

Indeed.

Tens of thousands of Brits who own a second- or retirement home overseas, whether on Europe's mainland, Thailand or elsewhere are in deep trouble. In Spain thousands of Brits don't know how to cope with the situation, especially also because real estate is way down and there are no buyers.

The Spanish coast and islands are filled with apartments and villas for sale, totaling more than a million houses.

Personally I know of a couple who had to sell their villa. Asking price was € 580.000.-. They sold for € 300K

And that's just one example; most stories aren't even known or told...

LaoPo

As someone who has worked in the NHS for 10 years, I have always wondered how "tens of thousands" of Brits are able to afford to pay so much for SECOND homes abroad. I can barely afford my holidays in Thailand, let alone pay for a house. I couldn't even buy a first home in the UK. Just what did these people do to have so much money? Sure beats me.

My other observation is that the credit problems of the Brits are entirely their own fault. No one forced them to borrow beyond their ability to repay, no one forced them to take out ridiculous mortgages. I could see that it was all going to end in tears years ago, so why couldn't they? ( I know the answer, but better not write it here )

It's ironic that the man who was primarily responsible for getting the UK into the poo in the first place now has the gall to claim that only he can sort the problem!

To see how it should have been done, just look to Norway, which is sitting pretty now, but they didn't waste all their oil money on dodgy computer systems and illegal wars!

[thaibeachlovers]

Just like to let you know that on my way to work this morning I was listening to the radio in the car (local raidio station) On the news it is reported that local business say they are now getting out of the recession and business looks good, so someone please explain that?? I have stated in a previous post how we have more than doubled our work force in the last 3 months. My personal opinion is that alot of expats from the UK would love to see the Country they were born in go under if I'm wrong I'm sure you will let me know

Ok great...

Being a bricklayer, i can get my very large and extensive contacts book out with excitement and confidence of obtaining some work then.....?

Shall i hold my breath

Talk is cheap and <deleted> on radios talking shit dont pay the bills....

Work is there if you look for it!!! We are setting on at the minute for packers not bricklayers but a job is a job , I would clean public toilets has long as I had a wage coming in and I am a accountant!!! Some people either want work or not. You have to look for it it ain't going to come knocking on your door!!

So please get off you high horse and look for a bloody job instead of wasting your time on the internet while you could be looking.

Well said. A lot of the problem is the British dole system which allows 3 generations of unemployed in the English north, while there were plenty of jobs in the south.

Another problem that people don't want to discuss, is paying young girls to keep their bastards. That alone costs the taxpayer millions a year, if not billions. IMO, the only thing the taxpayer should pay for is a free abortion. If they don't accept that, they should either give the child up for adoption, or pay for it themselves.

Plus there is the trend to paying for longer maternity leave ( having a child is not a disability, and if people choose to have a child, they should be prepared to pay for it themselves, not expect me to pay for them to take time off at my expense ). Now they are even discussing giving fathers paternity leave as well.

They should also stop giving IVF on the NHS. Infertility is not a disease!

Pity none of the political parties have enough guts to advocate cuts in that sort of benefit.

[mommysboy]

One of the unique features of this recession is the degree to which the media is being used in various "hearts and minds" campaigns by all manner of people. Given that consumer confidence is one of the main keys to recovery it's not surprising that we've seen a whole host of positive spin reports from vested interest groups and doubtless various governments have used this tool also. When the FTSE was at 3,500 Anthony Bolton called bottom and said buy, was he right, I don't know. But his role as President of investments for Fidelity makes me somewhat suspicious although history has now shown that was a good call. Jim Rodgers on the other hand called GBP "toast" at 1.40 and as an ex partner in the Soros Quantum fund he must know a few tricks - history shows however that was not a good call. Hearts and Minds, vested interest or knowledgeable informed source, can't really tell!

On the other hand we have the Motley Fools, Finance Guru, HousePriceCrash Forum and a whole host of others who would like to believe that they have a scoop and are publishing the "real truth" about what's happening in various market segments or indeed over all. Some of them are actually pretty good and point to their track record of being right on this that and the other which often makes them more credible. One chap that I read has an outstanding track record and has been spot on with most of his major calls and he doesn't seem to want to sell me anything or indeed to have any vested interest other than to be right, highly commendable I reckon.

Trying therefore to assess the true state of play at any point in time so that individuals can make informed judgments is really difficult - should I take the Central Banks, OECD or IMF report at face value or should I listen to what's being said elsewhere? Difficult to know who or what to believe! It therefore comes as no surprise that there is a such a diversity of opinion on the subject of GBP recovery or not - great reports from some people in the UK say business is booming, others suggest the situation is dire, perhaps both are true and correct based on location. But for most folks in Thailand, trying to make sense of GBP futures will almost certainly come down to one simple truth, who and what do you read on this subject. Unfortunately, too many posters don't read much at all on the subject and simply pick up a headline or sound bite and run with that thought as a direction. That's not a criticism since TV is designed for such things but for those readers trying to find serious answers to the question of futures, best not to take much of what's said here too seriously and better just to treat it as yet another information feed, one of hopefully many.

Terrific posting.

I was about to write a few lines on the same subject. I'm glad I didn't as this posting says it all.

Only last night I researched the 'state of play' regarding the solvency of the UK banks, this being a major threat to the stability of the UK . The major alert was an article in the Times regarding Lloydstsb. It had me going I can tell you, but it seems it was nothing more than sensationalist Sunday journalism, and the market dead panned it, and the article is now nowhere to be read. Now! the Times for heaven's sake.

Strange times indeed.

Perhaps there will come a time when the media will publish numerous versions of the daily news a, b,c, etc- you know! just pick what you want to hear.

[Spee]

I have a government pension which is exactly half of my salary when I was working. However I paid into the retirement system for the whole time I was working so this is really my own money. This is the case with many if not most govt. employee pension systems. However the govt. has lent money from this fund and used it for other purposes so now the whole pension system is in a big mess.

Bingo! Spot on assessment! You are at risk for getting screwed out of your money.

The guvvies will always get theirs because they make the rules. It's all a matter of how big of a screw-job they can put over on you. It's not unlike the US where social security was once intended to be a retirement supplement, but has evolved to the point where people think it will be a majority or all of their retirement income. The problem is that all of this money was not "invested" for the benefit of those people. It was callously thrown into the general spending fund and pissed away on one political pet project or another.

In the US, the social security retirement fund is essentially bankrupt. But we don't hear any calls for reduction in public sector pensions, where guvvie slugs can malperform their tasks without risk of getting canned, and then have a fantastic pension after twenty years.

[neil324]

Talk is cheap and <deleted> on radios talking shit dont pay the bills....

...neither does sitting on your arse and doing <deleted> all. "Get on yer bike" I believe was the message........

Don't have a bike. Also don't need to work and i'm also not a burden to the state.

[neil324]

Just like to let you know that on my way to work this morning I was listening to the radio in the car (local raidio station) On the news it is reported that local business say they are now getting out of the recession and business looks good, so someone please explain that?? I have stated in a previous post how we have more than doubled our work force in the last 3 months. My personal opinion is that alot of expats from the UK would love to see the Country they were born in go under if I'm wrong I'm sure you will let me know

Ok great...

Being a bricklayer, i can get my very large and extensive contacts book out with excitement and confidence of obtaining some work then.....?

Shall i hold my breath

Talk is cheap and <deleted> on radios talking shit dont pay the bills....

Work is there if you look for it!!! We are setting on at the minute for packers not bricklayers but a job is a job , I would clean public toilets has long as I had a wage coming in and I am a accountant!!! Some people either want work or not. You have to look for it it ain't going to come knocking on your door!!

So please get off you high horse and look for a bloody job instead of wasting your time on the internet while you could be looking.

Well said. A lot of the problem is the British dole system which allows 3 generations of unemployed in the English north, while there were plenty of jobs in the south.

Another problem that people don't want to discuss, is paying young girls to keep their bastards. That alone costs the taxpayer millions a year, if not billions. IMO, the only thing the taxpayer should pay for is a free abortion. If they don't accept that, they should either give the child up for adoption, or pay for it themselves.

Plus there is the trend to paying for longer maternity leave ( having a child is not a disability, and if people choose to have a child, they should be prepared to pay for it themselves, not expect me to pay for them to take time off at my expense ). Now they are even discussing giving fathers paternity leave as well.

They should also stop giving IVF on the NHS. Infertility is not a disease!

Pity none of the political parties have enough guts to advocate cuts in that sort of benefit.

I know, just bring in gas chambers.

[LaoPo]

As someone who has worked in the NHS for 10 years, I have always wondered how "tens of thousands" of Brits are able to afford to pay so much for SECOND homes abroad. I can barely afford my holidays in Thailand, let alone pay for a house. I couldn't even buy a first home in the UK. Just what did these people do to have so much money? Sure beats me.

Well, first of all, most of them are probably older than yourself and secondly not all of them bought a second home but sold their homes on top of the market in the UK and changed that (money) buying another house in Spain, much cheaper.

In Spain, there have always been a first wave of Brits who bought first- or second houses. That was already the case in the early sixties and '70's. The Brits were always first before the Dutch, Germans, French and Italians next to the Scandinavians.

I watched those same Brits selling their houses in the latter '70's but also mainly early '80's when they were forced to sell because of the -then- crisis.

After that, a second wave of Brits came and bought -still cheap- houses/apartments and villas until they were forced again to sell, since last and present year.

LaoPo

[thaibeachlovers]

Well said. A lot of the problem is the British dole system which allows 3 generations of unemployed in the English north, while there were plenty of jobs in the south.

Another problem that people don't want to discuss, is paying young girls to keep their bastards. That alone costs the taxpayer millions a year, if not billions. IMO, the only thing the taxpayer should pay for is a free abortion. If they don't accept that, they should either give the child up for adoption, or pay for it themselves.

Plus there is the trend to paying for longer maternity leave ( having a child is not a disability, and if people choose to have a child, they should be prepared to pay for it themselves, not expect me to pay for them to take time off at my expense ). Now they are even discussing giving fathers paternity leave as well.

They should also stop giving IVF on the NHS. Infertility is not a disease!

Pity none of the political parties have enough guts to advocate cuts in that sort of benefit.

I know, just bring in gas chambers.

Ha ha, indeed.

However, it's precicely that sort of attitude that has spawned a generation of bludgers who think that they have some sort of RIGHT to state assistance, while they are capable of getting a job, if they were prepared to get out of bed and go look for one.

Remember that it's people who actually get up everyday, go to work and pay taxes that provide the money for the bludgers, not some magic money tree.

If the UK ever had a money tree, it was North Sea oil, and they pi**ed that away.

For all it's imperfections, Thailand has yet to go down the dole budger route, and good on them for not doing so.

[Chaimai]

Talk is cheap and <deleted> on radios talking shit dont pay the bills....

...neither does sitting on your arse and doing <deleted> all. "Get on yer bike" I believe was the message........

Don't have a bike. Also don't need to work and i'm also not a burden to the state.

A brickie who doesn't have to work - an excellent fit with the UK building scene where brickies are 2 a Penny.

[bojo]

Could be one of the main reasons that some Brits move to Thailand in the knowledge that their hard earned cash is not given out to the lazy through their expensive tax payments. At least here in the Kingdom a taxpayer (basic rate 5% and up to 30% corporate) has the choice of what they would like.

Use government hospitals and schools (pretty useless all round) or pay through the private sector at a fair cost. Even as a taxpayer one is made to wait for ages on the NHS and whatever happenned to dental care, its almost unaffordable for most. Thai's retire around 50 from what I can gather , looks like Brits could be working till death is knocking at their door and then what will they receive?

The money spent on defence is probably less than 10% of what we pay in the UK, so at least those that don't agree with wars waged abroad are not paying for it.

Alot has to be said for a state with no welfare system, although obviousely it's not perfect. Personally I think only those that are truly disabled and can prove it should have a safety net to fall back on, never mind the ones with sick notes for a bad back. Shame on them and their like.

regards Bojo

[G54]

'Add to that that the only people every to try to pick a fight with me or friends in all these years...have been British'

yawn, funny i've never had anyone try to pick a fight with me maybe it's just your attitude? just a thought

I agree. Seems some peoples attitude is to piss off others and then they wonder why those others are aggressive. Is it not the case that the idiots and a*holes are the ones involved in the fights and not just the aggressors?

Back on topic

As to the £. Not so long ago it was 49 Baht to the £ and $139 to the £. Now it is in a better position.

Too often the doomsayers are like the idiots who find themselves in the aggression stakes. Plenty of mouth and attitude with little to back it up. Then when they are found out to be sh*t stirring idiots they have some slimeball excuse ready for their own defence.

We need to be wary of both.

[jubby]

Well said. A lot of the problem is the British dole system which allows 3 generations of unemployed in the English north, while there were plenty of jobs in the south.

Another problem that people don't want to discuss, is paying young girls to keep their bastards. That alone costs the taxpayer millions a year, if not billions. IMO, the only thing the taxpayer should pay for is a free abortion. If they don't accept that, they should either give the child up for adoption, or pay for it themselves.

Plus there is the trend to paying for longer maternity leave ( having a child is not a disability, and if people choose to have a child, they should be prepared to pay for it themselves, not expect me to pay for them to take time off at my expense ). Now they are even discussing giving fathers paternity leave as well.

They should also stop giving IVF on the NHS. Infertility is not a disease!

Pity none of the political parties have enough guts to advocate cuts in that sort of benefit.

I know, just bring in gas chambers.

There's a lot of truth in what he's saying , Having a B*stard does seem to be becomming a 'Career' choice rather than an accident. And what exactly will the B*stard do when he/she grows up complete with his/her 'Home school Degree ' of how to screw the system ?. I suspect they'll just continue the Cycle. Its a Huge, Huge problem.

Back on Topic, Who really knows whats going to happen to Sterling. Its heavily influenced by Sentiment; Economics; Social and Political Issues unlike it would seem the Baht ;-) I suspect it'll stay around 55 until Christmas.

Edited July 14, 2009 by jubby

[chiang mai]

There's that word again, "doomsayers" and I really don't know what it means. Is a doomsayer simply someone who says that things are going to get worse and if so, that must mean that their opinion of what is likely to happen is at odds with that of the name caller? That being the case, how do we refer to people who think that things are going to get better, perhaps we should call them "happy speakers"! Andd what about a tag for those who things are going to remain the same, "status quo person" perhaps!

I think that being referred to as a doomsayer has a negative connotation, makes me think of those folks with sandwich boards stating the end of the world is nigh. But that's not really the case is it, a doomsayer is merely someone who thinks that things will not improve but most importantly, it's someone whose view you disagree with - if that's the case, why do we need to refer to them in such a derogatory manner.

[Chaimai]

There's that word again, "doomsayers" and I really don't know what it means.

.

Doomsayer:-

doom·say·er (dmsr) n.

One who predicts calamity at every opportunity

... You know who you are......

Edited July 14, 2009 by Chaimai

[chiang mai]

There's that word again, "doomsayers" and I really don't know what it means.

.

Doomsayer:-

doom·say·er (dmsr) n.

One who predicts calamity at every opportunity

... You know who you are......

Yes you are right, that is the literal translation. But I see very few posters on this forum who predict calamity at every opportunity, rather I see people who have a negative view of a particular aspect of the economy and often that view is quite justified. That doesn't however mean that they are doomsayers in the literal sense of the word. Look, not a big issue, just wanted to make the point generally that a downside view is just as valid as an upside view.

[Mosha]

How to save the UK economy.

There are 20M people in the labour force over 50. Give these people 1 Million pound to take early retirement. Out of that money they must:

1 Have a house built. This has builders gainfully employed

2 Buy a British built car, again people gainfully employed

3 1 Weeks holiday in the Uk

4 Spend 50K on Booze or tobacco. This puts money into the treasury.

Problem solved.

[Orac]

How to save the UK economy.

There are 20M people in the labour force over 50. Give these people 1 Million pound to take early retirement. Out of that money they must:

1 Have a house built. This has builders gainfully employed

2 Buy a British built car, again people gainfully employed

3 1 Weeks holiday in the Uk

4 Spend 50K on Booze or tobacco. This puts money into the treasury.

Problem solved.

Excellent idea. Just one small problem - where does the £20 trillion come from to pay for this ??