old English gents are you worried

[whatawonderfulday]

5 minutes ago, Watchful said:

May's days are number according to members in her own party. According to your theory, once she is gone the pound will what ... return?

 

You are completely under estimating the ascension of the Labour party. This party is gaining ground on the promise of "free stuff" (increased welfare handouts, free uni education, etc) with no way to pay for it other than borrowing and printing money. The currency speculators pay attention not to politics, but to momentary policy.

 

In short, I believe KarenBravo is reading the results accurately. It's the UK voters supporting an unsustainable monetary policy than is causing them to dump pounds.

Well those rose tinted glasses must be around everywhere these days then.  however your spelling mistake was quite possibly a correct faux pas. You stated "momentary policy", which is possibly very apt for May as she seems to be making up as she goes along.

 

I did not say the pound will strengthen when she is gone, although an improvement will most certainly occur. Once the UK have a stable government the pound will most certainly improve.  And if that comes about by still being part of Europe along the lines of Norway, Iceland and Switzerland than most certainly the pound will recover but it must be based on very long term commitments to that principal.  Not short term knee jerk policy.

 

Please also read the Labour manifesto. All policies were fully coasted, possibly providing a bit of confidence for the voters wheras May's policies are unclear, uncosted which would lead me and others to consider that most would be unworkable.  Certainly in the tin pot coalition she is building with the DUP the rational appears correct.

[Laza 45]

On 6/10/2017 at 11:50 AM, whatawonderfulday said:

Considering how much the pound has lost in value since the conservative/Liberal con artists were in power 7 years ago run by the Cameron/Clegg duo , and has since been compounded by the incompetent T May , I would look forward to any well balanced socialist leaning government prepared to look after the disadvantaged, elderly and even importantly allowing our next generation to have free university places.  We need this next generation to get the UK back where it belongs.  we do not need those borne with a silver spoon or into wealthy families to rape and pillage the UK any further.  Thatcher started the decline and every government since, Labour or conservative, has not stopped it. Of course Tony Blair was not really a true labourite,  just a selfite .

 

The current PM has not only lost the confidence of her own party she has lost the entire world's financial confidence.  The longer she and her aloof cronies stay in power the more the pound will become further devalued.

You can't expect the country to grow and prosper if you drive more people into poverty.. if  you make it impossible for young people to get a university education, if you let the county's infrastructure crumble, if you marginalize and stigmatize minority groups, if you give tax breaks to the rich..   try something different 'trickle down' is a hoax..

[whatawonderfulday]

5 minutes ago, Laza 45 said:

You can't expect the country to grow and prosper if you drive more people into poverty.. if  you make it impossible for young people to get a university education, if you let the county's infrastructure crumble, if you marginalize and stigmatize minority groups, if you give tax breaks to the rich..   try something different 'trickle down' is a hoax..

Absolutely agree which is why I am a supporter of the principal of no university fees. I was lucky , I enjoyed that opportunity and benefited from it.  That opportunity should be re-opened for the long term benefit of the nation as a whole,  not just the well off families.

[Watchful]

25 minutes ago, whatawonderfulday said:

Well those rose tinted glasses must be around everywhere these days then.  however your spelling mistake was quite possibly a correct faux pas. You stated "momentary policy", which is possibly very apt for May as she seems to be making up as she goes along.

 

I did not say the pound will strengthen when she is gone, although an improvement will most certainly occur. Once the UK have a stable government the pound will most certainly improve.  And if that comes about by still being part of Europe along the lines of Norway, Iceland and Switzerland than most certainly the pound will recover but it must be based on very long term commitments to that principal.  Not short term knee jerk policy.

 

Please also read the Labour manifesto. All policies were fully coasted, possibly providing a bit of confidence for the voters wheras May's policies are unclear, uncosted which would lead me and others to consider that most would be unworkable.  Certainly in the tin pot coalition she is building with the DUP the rational appears correct.

Well, since you made fun of my spelling, let me retuning the favor.

 

Labour is coasting and hoping the money for their "give aways" will turn up ... like magic. Don't forget they also want a 250 billion stimulus/infrastructure program financed exclusively by .... WAIT here it comes .... BORROWING!

 

This is nothing more than printing money and as I said before you simply cannot escape the consequences of borrowing.

 

Edited June 12, 2017 by Watchful

[GAZZPA]

On June 9, 2560 BE at 9:30 PM, swissie said:

Old English Gents (from the old school) never worry about anything.

- They show up for high-tea on time.
- They walk and never run.
- They face the world with a stiff upper lip (if necessary).

But a dying breed, some say.
Cheers.

Some may say dying breed but I dont think so. Being polite, a gentleman and dealing with things with some level of control are still very much the British way of life...

 

Not sure what this post is actually about, of course things get a little more difficult as the currency gets hit but currencies go up as well as down so why worry. If you live overseas and rely on money from your home country then currency fluctuation is part of the deal. The UK will, eventually sort itself out for sure and the currency will recover as it always does. I wonder if there will be a post when it recovers thats says "British gentleman, are you enjoying your increased income with the pound gaining strength?" 

 

Of course there won't be such a post because that would not be in line with the negative rubbish we read every single day on this forum. Some people just enjoy reading about other peoples woes, perhaps because it makes them feel better about their own.

 

Enjoy your day. 

[Toscano]

My guess is that all Brits living in Thailand are concerned .  How much lower can the pound go ?

[colinneil]

10 minutes ago, Toscano said:

My guess is that all Brits living in Thailand are concerned .  How much lower can the pound go ?

Well you guess wrong, i am British with a British pension, and not worried at all.

I am married to a lovely l;ady, and she has a good job/salary, so if money gets tight i can live off her money.

[Baerboxer]

On 6/9/2017 at 9:30 PM, swissie said:

Old English Gents (from the old school) never worry about anything.

- They show up for high-tea on time.
- They walk and never run.
- They face the world with a stiff upper lip (if necessary).

But a dying breed, some say.
Cheers.

 

Indeed. And peel our fruit with our Swiss Army pocket knives. The only honest thing to come out of Switzerland.

[Baerboxer]

43 minutes ago, GAZZPA said:

Some may say dying breed but I dont think so. Being polite, a gentleman and dealing with things with some level of control are still very much the British way of life...

 

Not sure what this post is actually about, of course things get a little more difficult as the currency gets hit but currencies go up as well as down so why worry. If you live overseas and rely on money from your home country then currency fluctuation is part of the deal. The UK will, eventually sort itself out for sure and the currency will recover as it always does. I wonder if there will be a post when it recovers thats says "British gentleman, are you enjoying your increased income with the pound gaining strength?" 

 

Of course there won't be such a post because that would not be in line with the negative rubbish we read every single day on this forum. Some people just enjoy reading about other peoples woes, perhaps because it makes them feel better about their own.

 

Enjoy your day. 

 

Indeed. As opposed to some whiny theatrical southern European have a tissy fit over some trivia. 

 

Thailand is a country that respects and likes calm, polite untheatrical acts. Not drama queens we see from so many of the "civilized" Western nations. 

[Laza 45]

55 minutes ago, Watchful said:

Well, since you made fun of my spelling, let me retuning the favor.

 

Labour is coasting and hoping the money for their "give aways" will turn up ... like magic. Don't forget they also want a 250 billion stimulus/infrastructure program financed exclusively by .... WAIT here it comes .... BORROWING!

 

This is nothing more than printing money and as I said before you simply cannot escape the consequences of borrowing.

 

Borrowing for things that grow the GDP and create employment is good investment for future prosperity.. especially in the current low interest environment..  The UK's borrowings are quite large at the moment (1.7 Trillion..)  but don't put the country in the basket case group.. borrowing at the moment are about 80% of GDP which is reasonably low by world standard at the moment.. Australia has just had 26 years of continuous growth... much of it stimulated by government spending.. If the UK doesn't invest in its future the prospects look dismal, I think.  Austerity and trickle down economics only benefit the 1%   ..  have a look at these charts..  the chart for the last 100 years puts the present UK debt into perspective..  http://www.ukpublicspending.co.uk/uk_national_debt_chart.html

[Kwasaki]

1 hour ago, Toscano said:

1. My guess is that all Brits living in Thailand are concerned .  

2. How much lower can the pound go ?

1st.  Nah !!   Rubbish why would the ones who planned retirement properly be concerned or worried,  it be those who came on a shoe-string.

That said l still feel a great deal of sadness for those who have families here and can't stay,  that must be devastating.

 

2nd.  Funny l thought about that some time back,  l budgeted our living costs without adding in renewable stuff and if the baht went below  (  15 for £ )   l'd  have to eat rice & noodles etc everyday and forget the beer and brew my own Lao khao. 

 

Edited June 12, 2017 by Kwasaki

[Zyxel]

On 6/10/2017 at 11:52 PM, chickenslegs said:

News sources like to get your 'clicks'.

 

"Crashed" is when you have to take a wheelbarrow of bank notes to the shops to buy a bottle of milk and a loaf of bread.

 

A drop from 44THB to 43THB is not "crashed".

 

 

[toofarnorth]

I am reading on here about those going home as it must be too expensive to stay here. Who are these folk , I am not having a pop at them but the few ferlung I know up here in woop- woop just have to tighten our belts and carry on.  I bought my house in Hua - Hin in '2005 when I was getting 73 - quid .   If I had the fare to go back to the UK who would look after me , where would I live etc. My upper lip is as stiff as a Field Marshall's back and I am staying put. Oh yesterday I was sharing a pot of PG tips tea with my nearest ferlung mate for afternoon Tiffin , no wucking forries he said.

[abrahamzvi]

On 6/10/2017 at 9:13 AM, Watchful said:

The OP asked about "faith in the pound". Interesting question with Labour gaining so much ground in the recent vote. Somewhere I read that Labour wants to spend/borrow $250 billion on stimulus/infrastructure.

 

If Labour continues to make gains this may become a reality. Think about it, once again politicians are going to "spend our way to prosperity". The only potential outcome of this disastrous policy is continued weakening of the pound and the enriching of politicians who let the contracts.

I am not sure I quite agree with you. To start with the strength (or weakness) of the Pound depends very much on the terms of Brexit. Obviously a hard Brexit will probably see the Pounds at $1.15 -1.20. A soft one, like the Swiss, Norwegian and Iceland ones, would strengthen the Pound, maybe even to the pre Brexit level.

 

Next, investing on infra structure, even on borrowed money, does not always lead to the weakening of currencies. It depends entirely on the way it is done and also on the taxation system, as well as other internal and external factors.

 

Please note that I really am not a Labourite. However, I would prefer a stable government under Labour than a very unstable and unreliable one under May.

[peterb17]

On 10 June 2017 at 9:13 AM, Watchful said:

The OP asked about "faith in the pound". Interesting question with Labour gaining so much ground in the recent vote. Somewhere I read that Labour wants to spend/borrow $250 billion on stimulus/infrastructure.

 

If Labour continues to make gains this may become a reality. Think about it, once again politicians are going to "spend our way to prosperity". The only potential outcome of this disastrous policy is continued weakening of the pound and the enriching of politicians who let the contracts.

 

Can you give one recent example or reference where British politicians have been specifically involved in corruption over contracts?

 

I can't say I have particular faith in politicians these days - but I do not believe there is much corruption in parliament ( some local authorities - yes) 

 

 

[steven100]

38 minutes ago, Kwasaki said:

brew my own Lao khao. 

could we possibly share the brew 50-50 ....

[Kwasaki]

4 minutes ago, steven100 said:

could we possibly share the brew 50-50 ....

Well lets just hope we can always just carry on buying a beer for one another.  

 

[Jonnapat]

Of course many people are concerned and why not? Most seem to have forgotten that just before the idiots that voted for Brexit the £ was valued at around 55 baht as against 43 at the moment. Not everyone is lucky enough to hold a large bank balance and a 20% depreciation is no joke for the rest.         

You can be sure that the worst of Brexit has hardly yet started to happen and what that will mean for the £

[Kwasaki]

2 minutes ago, Jonnapat said:

Most seem to have forgotten that just before the idiots that voted for Brexit the £ was valued at around 55 baht as against 43 at the moment.

No l haven't forgotten,  what makes you think £ wouldn't of gone down with Euro anyhow. 

 

A good thing happen of getting England out of the corrupt collective EU,  reckon Star-Trek  based the  " Borg "  on the head of the EU.  

 

[Retiredandhappyhere]

Whatawonderfulday said:

 

"Thatcher started the decline and every government since, Labour or conservative, has not stopped it. Of course Tony Blair was not really a true labourite,  just a selfite.".

 

 

Margaret Thatcher was a "doctor" who was voted in three times by the public to cure "the sick man of Europe" and, in that regard, she did a pretty good job, until voted out by a few jealous colleagues, who probably never liked the idea of being led by a mere woman.  She was more of a man than any of the so-called men in her cabinet, who would never have dared to face up to the (then) arrogant and over-powerful unions as she did. 

 

Nor, I would suggest, would they have ever taken her decisive action over the Falklands.

 

The UK could do with another politician of her calibre in this hour of need.   If you can name one, currently in the Conservative or Labour ranks, then please do,

[KBsinter]

The UK could do with another politician of her calibre in this hour of need.   If you can name one, currently in the Conservative or Labour ranks, then please do,

 

Unfortunately, there is no one of that calibre available,not even near it,,,,,,,,,,,,,

[Retiredandhappyhere]

4 hours ago, theoldgit said:

Whilst it's good to see that many of us with incomes from the UK aren't unduly concerned over the prospect of further massive reductions in the value of Sterling, some people are, many of whom are really beginning to feel the pinch.

Whilst most of my closer friends have no immediate plans to change their lifestyle, some have no option but to do so, three of my closest friends have reached the tipping point and are planning to return to the UK in the coming weeks

In many ways, this highlights the stupidity of the UK's policy of restricting the State pension to its starting point for expats living outside the EU.  When things become tight as with many suffering from the depreciation in Sterling, the need to return to the UK is largely forced upon them by the need to take advantage of the substantial benefits to be gained there.  An upgraded pension, free health benefits for the whole family, fuel allowance, free education for children, possible tax credits and family allowances, to mention just a few.

 

These benefits will cost the UK Government much more than the saving they have made in not allowing inflationary increases in the State Pension as enjoyed by UK residents.  

[PeCeDe]

Fortunately for me, and due to no particular expertise in Foreign exchange, my pension funds come in three different currencies, GBP, CAD, and USD, as it has turned out, one seems to go up while another goes down thus offsetting, however the GBP fall has been quite dramatic, (50THB to 43THB), and affected my income more than I would like.

 

I fail to understand why Brits keep on figuratively shooting themselves, don't they understand that gunshot wounds hurt like hell!

 

With Brexit looming, potential trouble in N. Ireland, perhaps another Scottish referendum, now is not the time to be humming and hah'ing over who should govern them, but to quote Winston Churchill (not exactly) "When you walk through the gates of hell, the only thing you can do, is keep walking,"  Brits have created the Hell they're walking into, and I can only hope they miraculously find some brave soul that can safely bring them out the other side... Selfishly speaking, if only because one third of my pension depends on it.

[nontabury]

4 hours ago, whatawonderfulday said:

 

 

Please also read the Labour manifesto. All policies were fully coasted, possibly providing a bit of confidence for the voters 

Very true, costed by Diana Abbott, while on her way to deliver her children to a very expensive and exclusive school.

[Homburg]

1 hour ago, Retiredandhappyhere said:

The UK could do with another politician of her calibre in this hour of need.   If you can name one, currently in the Conservative or Labour ranks, then please do,

There is no-one, because such a person would never be elected. There was a time when people went into politics because they wanted to do something for the public good.  These days all politicians want to do something for themselves, even if the Country is destroyed in the process. Don't blame the politicians for this, blame the electorate. The UK will always get the government it deserves.

Edited June 12, 2017 by Homburg
correction

[nontabury]

I'm just relieved that Corbyn did't get in. If he had,where would the £ be now?

[Dene16]

3 hours ago, Laza 45 said:

Borrowing for things that grow the GDP and create employment is good investment for future prosperity.. especially in the current low interest environment..  The UK's borrowings are quite large at the moment (1.7 Trillion..)  but don't put the country in the basket case group

Although  logically you are correct, in reality that has not happened,  in the last 2 labour governments in power  they have squandered all the money they have borrowed to implement the terms of their manifesto having taken over from a very stable economy, on both occasions

Tory's on the other hand have taken over from a failed/faltering economy and returned it to a stable one on each occasion, having been replaced on the basis of the fickle voting public of the UK, being promised agendas, we as a country, cannot afford.

Leaving the EU was not a good idea, but we could not sustain the continued migration, it was a time bomb waiting to happen, Better to weather the storm now then try to bail out a sinking ship later. (people only see the present and fail to see the future impact)

Once again labour has placed a nail in our coffin by offering the fickle UK public something they cannot afford to offer. Even Gordon brown has had to admit his mistakes on so many points in the past

What do you think would of happened if Labour had won. I dread to think 

This is a simple analogy of what i have seen in my life time

[whatawonderfulday]

2 hours ago, Retiredandhappyhere said:

Whatawonderfulday said:

 

"Thatcher started the decline and every government since, Labour or conservative, has not stopped it. Of course Tony Blair was not really a true labourite,  just a selfite.".

 

 

Margaret Thatcher was a "doctor" who was voted in three times by the public to cure "the sick man of Europe" and, in that regard, she did a pretty good job, until voted out by a few jealous colleagues, who probably never liked the idea of being led by a mere woman.  She was more of a man than any of the so-called men in her cabinet, who would never have dared to face up to the (then) arrogant and over-powerful unions as she did. 

 

Nor, I would suggest, would they have ever taken her decisive action over the Falklands.

 

The UK could do with another politician of her calibre in this hour of need.   If you can name one, currently in the Conservative or Labour ranks, then please do,

yes need something like here just as a hole in the head is needed.  Hope the evil bitch is rotting in the hell she created for the UK's working classes

[PeCeDe]

4 minutes ago, nontabury said:

I'm just relieved that Corbyn did't get in. If he had,where would the £ be now?

I would add, the following word to your sentence, "Yet"

 

"I'm just relieved that Corbyn did't get in yet. If he had,where would the £ be now?"

 

And to answer your question about value... If you can, don't even think of betting on a meaningful GBP uptick. A couple of years ago, you could have made approx. 25% by selling GBP together with buying and keeping Thai Baht,  my guess would be there isn't currently a GBP bottom in sight. I don't like predicting bad things, maybe I've had too many years on this earth, (soon to be fixed) :-)

[ChiangMaiLightning2143]

Not all "old English gents" are skint now are they?