Pound Starting To Stenghen.

[MJP]

'It's like Bedford Falls if George Bailey had never been born', INTERNET QUOTE OF THE DECADE. That deserves a round of applause.

Only slightly off topic but directly related to the discussion thus far - yes, another article from the Daily Mail (sorry) but a really useful and interesting chart embedded in the middle of the article showing how the UK has changed under Labour, the chart specifically describes reductions in the number of public service outlets and facilities (libraries, police stations, hospitals etc) versus the growth of other establishments such as betting shops, lap dancing clubs, supermarkets and the like, a very interesting picture which helps explain to me at least the some of the reasons for the demise of the UK as we once knew it.

http://www.dailymail.co.uk/news/article-12...rn-Britain.html

It's like Bedford Falls if George Bailey had never been born.

[skydiver77]

I think Kinnock prevented Kinnock from becoming Prime Minister.

Back to the election speculation - The Sun are backing the Conservatives.

Anyone remember how The Sun prevented Kinnock becoming Prime Minister.

Kinnock did it all by himself.

It happened while doing a press call and strolling along a deserted beach with the Mrs.

A little wave lapped up and he fell over, pulling the Mrs down with him.

How could a bloke like that, run the country.

The Kinnocks knew how to make money though, once over at Brussels.

[12DrinkMore]

But lets just hope and prey for a clear result regardless and then personally I want to see spending cuts, pay freezes, and those bar stewards in the financial sector hit with just about every windfall and stealth tax under the sun for the next 20 years. SCUM.

Spending cuts and pay freezes with Labour???? I don't think so, all they have ever managed to do in the entire history of the party is to increase spending, increase taxes, increase the size of government and award themselves inflation busting pay increases, with whopping pensions on top.

And, as you rightly observe, the Conservatives look like a bunch of ineffectual twits.

So I do not hold up much hope for the UK. There is nobody with the charisma, mettle and strength of purpose to force the necessary measures through. Basically

- slash the size of government by a third in the first year and then another 20% in the next year

- dissolve all quangos

- stop pissing around wasting shed loads of cash on the army abroad, bring them back

- slash public service salaries, which have risen way out of line with the private sector

- stop pandering to the so-called minority groups, who are taking the majority of the cash and causing the majority of the waste

- stop all family allowances, single mother allowances, brats allowances. If they can't afford to have brats they shouldn't have them, and certainly should not expect the rest of us to pay for propagating their genes.

- no special schooling for minorities/religions/foreigners. They should be integrated, and not be allowed to segregate themselves and have the tax payer pay for it

- allow the banks to fail

- stop printing cash to monetize the debt

- remove the Bank of England. What function does it really perform? Give Merv a permanent government position with a reduced number of staff.

- remove that anachronistic bunch of <deleted> in the house of lords.

- introduce a "Glass-Steagal" act

- decriminalize the whole prostitution scene

- introduce a savers' culture and not have a debtors' culture

- move all pensions to a defined contribution and not defined benefit as soon as possible. And do not allow the pension savings to be used to invest in property.

- educate the population that they are all individually responsible for their own lives and finances, and that it is not the job of government to tax the prudent so that the stupid, idle and hangers-on can sponge off the system

That'll go someway to solve the problems, and I could go on and on....

Edited February 23, 2010 by 12DrinkMore

[MJP]

. . . no do go on! dam_n good stuff!

But lets just hope and prey for a clear result regardless and then personally I want to see spending cuts, pay freezes, and those bar stewards in the financial sector hit with just about every windfall and stealth tax under the sun for the next 20 years. SCUM.

Spending cuts and pay freezes with Labour???? I don't think so, all they have ever managed to do in the entire history of the party is to increase spending, increase taxes, increase the size of government and award themselves inflation busting pay increases, with whopping pensions on top.

And, as you rightly observe, the Conservatives look like a bunch of ineffectual twits.

So I do not hold up much hope for the UK. There is nobody with the charisma, mettle and strength of purpose to force the necessary measures through. Basically

- slash the size of government by a third in the first year and then another 20% in the next year

- dissolve all quangos

- stop pissing around wasting shed loads of cash on the army abroad, bring them back

- slash public service salaries, which have risen way out of line with the private sector

- stop pandering to the so-called minority groups, who are taking the majority of the cash and causing the majority of the waste

- stop all family allowances, single mother allowances, brats allowances. If they can't afford to have brats they shouldn't have them, and certainly should not expect the rest of us to pay for propagating their genes.

- no special schooling for minorities/religions/foreigners. They should be integrated, and not be allowed to segregate themselves and have the tax payer pay for it

- allow the banks to fail

- stop printing cash to monetize the debt

- remove the Bank of England. What function does it really perform? Give Merv a permanent government position with a reduced number of staff.

- remove that anachronistic bunch of <deleted> in the house of lords.

- introduce a "Glass-Steagal" act

- decriminalize the whole prostitution scene

- introduce a savers' culture and not have a debtors' culture

- move all pensions to a defined contribution and not defined benefit as soon as possible. And do not allow the pension savings to be used to invest in property.

- educate the population that they are all individually responsible for their own lives and finances, and that it is not the job of government to tax the prudent so that the stupid, idle and hangers-on can sponge off the system

That'll go someway to solve the problems, and I could go on and on....

[Chaimai]

That'll go someway to solve the problems, and I could go on and on....

12D, I think you have already .

(Some interesting Fantasy League Politics in there though)

[MJP]

. . . and so it gets worse. They never had any intention of stopping the printing press.

Printy Printy!

[chiang mai]

I can agree with many of the points 12DM has posted but doing away with the BOE isn't one of them, babies and bathwater spring to mind! But anyway, I see Merv has been giving interviews again and as usual his gilded tones have had a negative impact on GBP - shame really, I was quite hopeful this morning that Sterling was starting to recover slightly and I had actually thought I might swap some more GBP into SGD before things really get nasty, little chance now however.

[churchill]

I can agree with many of the points 12DM has posted but doing away with the BOE isn't one of them, babies and bathwater spring to mind! But anyway, I see Merv has been giving interviews again and as usual his gilded tones have had a negative impact on GBP - shame really, I was quite hopeful this morning that Sterling was starting to recover slightly and I had actually thought I might swap some more GBP into SGD before things really get nasty, little chance now however.

You could take a chance and swap to us$ short term ( the best of the worst ) to swap to SGD in a couple of months .

[chiang mai]

I can agree with many of the points 12DM has posted but doing away with the BOE isn't one of them, babies and bathwater spring to mind! But anyway, I see Merv has been giving interviews again and as usual his gilded tones have had a negative impact on GBP - shame really, I was quite hopeful this morning that Sterling was starting to recover slightly and I had actually thought I might swap some more GBP into SGD before things really get nasty, little chance now however.

You could take a chance and swap to us$ short term ( the best of the worst ) to swap to SGD in a couple of months .

I agree, that's probably a good option but I was looking for 1.55 before moving on it so now will have to wait a few days.

[MJP]

GBP:THB going back to 1981.

[chiang mai]

GBP:THB going back to 1981.

That's a good graph, some people need reminding of that picture from time to time, oh Mommysboy, cooee!

[MJP]

All my big spend out here was done at 75.75.

I remember making the call to the broker. I was stood on a 40,000 tonne pile of baghouse dust from a zinc smelter (44% lead this stuff, very dangerous) and saying 'BUY!'

GBP:THB going back to 1981.

That's a good graph, some people need reminding of that picture from time to time, oh Mommysboy, cooee!

[mommysboy]

Been said before but there does seem a concerted effort by BoE to drive the pound as low as it can possibly go. Not a bad strategy given that there is buxxer else that can be done until we have a gov. willing to make the odd cut here and there, but it pains me to see the pound in such dire straits, especially when out here there is a concerted effort to drive the currency upwards. Ooch! very painful.

[MJP]

It's going to 40. It will stay there for years.

Been said before but there does seem a concerted effort by BoE to drive the pound as low as it can possibly go. Not a bad strategy given that there is buxxer else that can be done until we have a gov. willing to make the odd cut here and there, but it pains me to see the pound in such dire straits, especially when out here there is a concerted effort to drive the currency upwards. Ooch! very painful.

[Chaimai]

So, in a nutshell, are we currently talking Dollar strength or Sterling weakness ?

[mommysboy]

It's going to 40. It will stay there for years.

Been said before but there does seem a concerted effort by BoE to drive the pound as low as it can possibly go. Not a bad strategy given that there is buxxer else that can be done until we have a gov. willing to make the odd cut here and there, but it pains me to see the pound in such dire straits, especially when out here there is a concerted effort to drive the currency upwards. Ooch! very painful.

No! I always said 45 as it's very lowest, 40 is ludicrous and remember part of the reason is the baht is at the top of its cycle.

At a guess I'd say 48, and not for years.

Ironically, probably the medicine that guarantees the UK safety. Blxxdy upsettiing for yours truly.

[mommysboy]

So, in a nutshell, are we currently talking Dollar strength or Sterling weakness ?

Both! twins

The strength of the dollar is just because it's the reserve currency, but that will hamper recovery.

[MJP]

Just have to adjust budgets to mke it fit. It's still cheaper than chips out here if you're set up and have a strategy, know where to shop etc.

make

It's going to 40. It will stay there for years.

Been said before but there does seem a concerted effort by BoE to drive the pound as low as it can possibly go. Not a bad strategy given that there is buxxer else that can be done until we have a gov. willing to make the odd cut here and there, but it pains me to see the pound in such dire straits, especially when out here there is a concerted effort to drive the currency upwards. Ooch! very painful.

No! I always said 45 as it's very lowest, 40 is ludicrous and remember part of the reason is the baht is at the top of its cycle.

At a guess I'd say 48, and not for years.

Ironically, probably the medicine that guarantees the UK safety. Blxxdy upsettiing for yours truly.

[MJP]

Get rid of the clown and you may have your wish.

This is embarrassing . . .

Edited February 23, 2010 by MJP

[mommysboy]

The irony is my own business is doing really well. The problem I have is the Thais I deal with are just not holding stock at the moment as business is so bad, whereas demand from UK is strong. So I look at the headlines and wonder where the truth lies.

I honestly think Thai figs. are utter BS.

But trends are trends, and I think we will see a combo of weak pound and stong baht for a while.

Yes cost of living still cheap out here if you can live wisely (stay single) otherwise cost of living spirals and as I say on other threads, Thais are just not earning at present.

What a mindfrig! TIT I guess!

[MJP]

My costs are down to under £6k for quite comfortable living. Just me and 6 year old daughter, mother-in-law and father-in-law, it works well now. Yes, I wouldn't trust Thai figures either. The local shopkeeper here reports New Year beer sales down from 400 boxes the previous year to 40 boxes this year, he used to sell 35 mopeds a month, hardly any now, less than 5 anyway.

The irony is my own business is doing really well. The problem I have is the Thais I deal with are just not holding stock at the moment as business is so bad, whereas demand from UK is strong. So I look at the headlines and wonder where the truth lies.

I honestly think Thai figs. are utter BS.

But trends are trends, and I think we will see a combo of weak pound and stong baht for a while.

Yes cost of living still cheap out here if you can live wisely (stay single) otherwise cost of living spirals and as I say on other threads, Thais are just not earning at present.

What a mindfrig! TIT I guess!

[neil324]

I can agree with many of the points 12DM has posted but doing away with the BOE isn't one of them, babies and bathwater spring to mind! But anyway, I see Merv has been giving interviews again and as usual his gilded tones have had a negative impact on GBP - shame really, I was quite hopeful this morning that Sterling was starting to recover slightly and I had actually thought I might swap some more GBP into SGD before things really get nasty, little chance now however.

You not pull the trigger, you was thinking about this December?

If things get really bad who knows where its going.

Where was you going to open an account in SGD?

Citibank do free SGD accounts, HSBC small fee i think. Anyone have any experience of the spread these banks sting you when converting.

Just about sums up the UK,

http://www.bloomberg.com/apps/news?pid=206...id=a5t.xQdllnbo

'Britain has cut interest rates, pumped up government spending, printed money like crazy, and nationalized almost half the banking industry. Just about everything possible has been done to encourage consumption. The results have been miserable. The economy is flat on its back, unemployment is rising, the pound is sinking, and the bond markets are bracketing the country with Greece and Portugal in the category marked “bankruptcy imminent.” What’s needed is a total change of direction. Get the deficit under control. Raise interest rates to restore confidence in the pound, and reward saving. Cut taxes to stimulate enterprise and investment.'

Edited February 23, 2010 by neil324

[neil324]

My costs are down to under £6k for quite comfortable living. Just me and 6 year old daughter, mother-in-law and father-in-law, it works well now. Yes, I wouldn't trust Thai figures either. The local shopkeeper here reports New Year beer sales down from 400 boxes the previous year to 40 boxes this year, he used to sell 35 mopeds a month, hardly any now, less than 5 anyway.

The irony is my own business is doing really well. The problem I have is the Thais I deal with are just not holding stock at the moment as business is so bad, whereas demand from UK is strong. So I look at the headlines and wonder where the truth lies.

I honestly think Thai figs. are utter BS.

But trends are trends, and I think we will see a combo of weak pound and stong baht for a while.

Yes cost of living still cheap out here if you can live wisely (stay single) otherwise cost of living spirals and as I say on other threads, Thais are just not earning at present.

What a mindfrig! TIT I guess!

£6K? 6 thousand Sterling per year?

[MJP]

Yes.

Bit dull though.

My costs are down to under £6k for quite comfortable living. Just me and 6 year old daughter, mother-in-law and father-in-law, it works well now. Yes, I wouldn't trust Thai figures either. The local shopkeeper here reports New Year beer sales down from 400 boxes the previous year to 40 boxes this year, he used to sell 35 mopeds a month, hardly any now, less than 5 anyway.

The irony is my own business is doing really well. The problem I have is the Thais I deal with are just not holding stock at the moment as business is so bad, whereas demand from UK is strong. So I look at the headlines and wonder where the truth lies.

I honestly think Thai figs. are utter BS.

But trends are trends, and I think we will see a combo of weak pound and stong baht for a while.

Yes cost of living still cheap out here if you can live wisely (stay single) otherwise cost of living spirals and as I say on other threads, Thais are just not earning at present.

What a mindfrig! TIT I guess!

£6K? 6 thousand Sterling per year?

[Thongkorn]

I was listening to the BBC to day, Some financial people from around the world, where saying that it will take at least four years for the Recession to peak, that goes for every Country. Russia is now starting to feel the strain So its not just the £ that is under pressure, The UK is up front with its assessment of its Economic situation , unlike a lot of other Country's that are in denial. The UK have the option to de value the £, the EEC country's with the Euro cannot, France and Germany cannot keep bailing out Greece, Spain, Ireland, If they do, watch the Euro tumble, Its Case of biting the bullet and getting on with it .

[MJP]

You're not wrong. China's bubble is likely to pop this year. UK needs a government that's realistic about spending, first off. Not sure (in fact it's pretty obvious) the UK is not upfront at all . . . much is off balance sheet, PFI etc. Muds and poisons . . .

I was listening to the BBC to day, Some financial people from around the world, where saying that it will take at least four years for the Recession to peak, that goes for every Country. Russia is now starting to feel the strain So its not just the £ that is under pressure, The UK is up front with its assessment of its Economic situation , unlike a lot of other Country's that are in denial. The UK have the option to de value the £, the EEC country's with the Euro cannot, France and Germany cannot keep bailing out Greece, Spain, Ireland, If they do, watch the Euro tumble, Its Case of biting the bullet and getting on with it .

[Thongkorn]

The UK is up front, as i have said many Copuntrys are in de nile. I supose you could say what is up front in this day and age,

[MJP]

I notice RBS are about to report the largest ever loss in European banking history . . . yet pay £1.3Bn in bonuses, QE about to be switched on again. In all honesty I don't think the truth will come out until there is a change in government. If ever. It's all a bother.

The UK is up front, as i have said many Copuntrys are in de nile. I supose you could say what is up front in this day and age,

[Chaimai]

I notice RBS are about to report the largest ever loss in European banking history . . . yet pay £1.3Bn in bonuses, QE about to be switched on again. .

mai khao jai ?

I read this:-

"RBS is set to be the only major British Bank to report a loss for 2009. Analysts believe RBS will post a £5bn pre-tax loss due to it's toxic credit investments, bad loans and restructuring costs.

However, revenues are expected to 47% up after a resurgence in it's Investment banking division"

[chiang mai]

Been said before but there does seem a concerted effort by BoE to drive the pound as low as it can possibly go. Not a bad strategy given that there is buxxer else that can be done until we have a gov. willing to make the odd cut here and there, but it pains me to see the pound in such dire straits, especially when out here there is a concerted effort to drive the currency upwards. Ooch! very painful.

Yes, but there is not a concerted effort out here to drive the Thai Baht upwards, if anything, BOT is spending money trying to keep the lid on the Baht - it would make no sense whatsoever for BOT to strive to strengthen THB since that would kill exports and recovery.