GBP at three decade low

kek

Other urls found in this thread:

bloomberg.com/markets/currencies
ft.com/cms/s/0/b17b4250-427f-11e6-9b66-0712b3873ae1.html
theguardian.com/business/live/2016/jul/04/stimulus-hopes-markets-ftse-100-construction-business-live
en.wikipedia.org/wiki/Internal_market
en.wikipedia.org/wiki/Free_trade_area
twitter.com/AnonBabble

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.

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.

If Canadian Dollar was at three decade low against US Dollar, 1 USD would be 1.62 CAD.

It's at 1.29 now.

currency valuation is a double edged sword. the current value is good for exporters, bad for importers.

meanwhile the FTSE100 is at 6537

the UK economy is, by and large, very stable, give or take a few high street retailers.

(((Soros)))

>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.

>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.

/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.

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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.

>DUDE GOLD LMAO
>DUDE VANCOUVER PROPERTY BUBBLE LMAO

shut the fuck up leaf, you can't shit talk anyone else's economy

Cucks

a 10% drop isn't that bad though. It's actually quite enviable.

>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.

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.?

>export financial services

Enjoy doing that without E.U. passporting.

Enjoy Wilders at 40% next year :^)

Because freedom without security or responsibility, is not freedom.

Because Sup Forums 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.

i love it when the basement dwellers on here suddenly become experts

>ALL currencies

Not Swiss Francs or Japanese Yen.

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

bloomberg.com/markets/currencies

Serious question, how is it a "3 decade low" when the graph you posted has a dip lower than where it currently sits?

They're talking about daily low.

>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.

Americans? What did we celebrate yesterday eurofuck? Wouldn't be our sovereignty would it? kys faggot

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.

Yeah is stupid. Didnt take years for our manufacturing to hop over to china...took years for people to figure out what the fuck happened.

No one knows what resilience is anymore :(

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.

I thought no one else had noticed the influx.

>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.

Yeah I love when Sup Forums memesters claim to know more than actual experts.

>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

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.

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!!!

>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.

"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.

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.

If only it were possible for economies to change with time. :^)

I don't think you know what you're talking about.

>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

It was bloated because they expected remain to win. Go back a few months.

Your three posts here say you have zero knowledge of real life economy.

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

>he thinks you need to follow the regulations of every country you trade with during every trade

GBP is very likely to drop further.

>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.

freedom has a price. our ancestors paid in blood. what would you pay? 10% GDP? 5%? 2%?

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.

Oh God Sup Forums is stupid as fuck. You guys might have it right on some topics, but when it comes to economy, Sup Forums is miserably stupid. Brexit showed this.

Jesus christ

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.

>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?

I'm glad the Slovenes and the Spaniards are here to set us straight on macroeconomics.

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.

>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.

>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.

read
and

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.

This kind of thinking got you where you are right now. Keep doing it, why would I care...

Tranquilo Pancho, recuerda lo que pasó la última vez que fuimos para allí

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)

>muh UK is spucial rules don't apply

Cringing hard tbqh

Canada doesn't have access to the EUs single market, you dumb fuck.

>single market
We don't want access to the single market. The single market IS the free movement of people.

>We don't want access to the single market.
Whatever you say champ. You don't even know what that means.

...

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.

>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?

>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.

>We don't want access to the single market

oooh boy you're in for a treat when the negotiations begin lad

Tell me then, what is the EU single market? :^)

Are you one of those people who Googled "what is the EU" on the 25th?

...

Every candidate has said flat out there won't be free movement of people. The single market IS the free movement of people.

dont know why they want to boost export UK dont export anything :D

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.

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?

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.

>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.

>"Cringing hard tbqh", posted pablo from the unemployment line

my sides

>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

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

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%.

>free movement of goods and services
That isn't the single market. Even Mexico has access to this.

Property funds suspended

ft.com/cms/s/0/b17b4250-427f-11e6-9b66-0712b3873ae1.html

theguardian.com/business/live/2016/jul/04/stimulus-hopes-markets-ftse-100-construction-business-live

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.

Every country in the world that the EU doesn't have sanctions against has "access" to the single market

>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.

>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

No. Free movement of goods means a customs union, no tariffs etc.
Educate yourself.
en.wikipedia.org/wiki/Internal_market

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.

>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

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.

en.wikipedia.org/wiki/Free_trade_area