51–60 of 379 posts
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Maybe this has nothing to do with Brexit, but more with energy prices and Tory tax cuts. As far as I know, not a single doomsaying Brexit prediction has come to pass.
Really? I have trouble spotting a doomsaying Brexit prediction that hasn't come to pass at this point.
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That's hilarious, but is it a currency crisis or is it just trading down a bit?
I feel that's a fairer reading of what he's saying. But you can just feel his ego through his tweets "I'm supposed to know something about currency crises — I did invent the academic field!"
It doesn't follow that he can make money trading it.
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The Euro and Yen and almost all currencies are also down significantly vs the dollar, so I don’t think this is a Brexit thing. This is a strong US dollar thing as the world grapples with collateral shortages and a relative dollar shortage. Edit: I highly recommend the podcast “Eurodollar University” on the subject.
In the last 60 days, the GBP has slid from 1.20 EUR to 1.09 EUR, fwiw. It definitely looks like something other than a strong dollar.
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Ok, so what happens next then?
Continuing a globally rough pace of growth until economists wake up and remake the broken monetary plumbing system.
Maybe the economic ramifications of Brexit were not fully thought out before everyone decided to vote for it.
The Bank of England monetary policy committee deciding on Thursday to show “restraint” in only putting the interest rate up by 0.5%, because they want to wait and see what the Chancellor’s “mini-budget” would bring on Friday.
That mini budget being a clusterfuck of unfunded tax giveaways to the already high-earning and wealthy.
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In the last 60 days, the GBP has slid from 1.20 EUR to 1.09 EUR, fwiw. It definitely looks like something other than a strong dollar.
So almost 10% drop relative to the Euro in addition to both of them falling against the dollar. I wonder what's behind that particular weakness for the pound.
Finally the market is settling in to the reality of Brexit! Looking forward to continued fall of the sterling as the united kingdom loses its unity. Will Northern Ireland or Scotland be first to go?
Somehow it strikes me as mean spirited to look forward benefiting from the troubles of a nation.
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In the last 60 days, the GBP has slid from 1.20 EUR to 1.09 EUR, fwiw. It definitely looks like something other than a strong dollar.
EUR sliding against USD as well, right?