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British pound hits record low against the dollar

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Re: British pound hits record low against the dollar

#81

Post by fzeroracer »

seibelj wrote: post #72
fzeroracer wrote: post #63

Earlier quoted context omitted.

What exactly would it take for you to accept that your policy proposals are a failure? Honest question here, because what I see is the UK doing exactly what you are saying they should do, but it's resulting in the general economic destruction of their country.

You mean what they enacted in the last week? I don't think a few days of slightly-reduced taxes is going to move the needle

No, what they've been enacting over the past few decades with the continued move towards privatization and destruction of public services. Like they've been doing what you've suggested for decades now. The 'downward spiral' you call out is because they're following your plans to a T. Cutting taxes and regulation, privatizing industries etc.

So to reiterate my question: At what point would you have to call that off and write off the privatization as a failure? Or would you keep going until you hit absolute rock bottom, then call any upward momentum a success?

Re: British pound hits record low against the dollar

#82

Post by nyokodo »

peanuty1 wrote: post #75
xerxesaa wrote: post #40

Earlier quoted context omitted.

Somehow it strikes me as mean spirited to look forward benefiting from the troubles of a nation.

Many ppl in Scotland and Ireland view it as a gateway to independence they've long sought after.

So they’re moving from being beholden to London to beholden to Brussels? The freedom rings hollow with that move.

Re: British pound hits record low against the dollar

#83

Post by Semaphor »

nyokodo wrote: post #80
woodruffw wrote: post #19

Earlier quoted context omitted.

I'm no economist, but intentionally cutting themselves out of a massive common market probably isn't helping much.

> intentionally cutting themselves out of a massive common market probably isn't helping much. My understanding is that they never intended to leave the common market but to gain a trade deal that would leave market access substantially the same. However, the EU wouldn’t let them keep access in the divorce if for no reason other than as a cautionary tale for other member states. So, it turned ugly and there they are.

My understanding is, that they didn’t want to keep all those laws that would be required for a trade-deal. They wanted their sovereignty.

Re: British pound hits record low against the dollar

#85

Post by siquick »

eric4smith wrote: post #14

"A dollar a pound". A few decades ago this was in the headlines on CNN if I remember correctly. But really, there is no real reason for the GBP to be worth more than the dollar in the last few decades. The UK is a bit of a **hole, except for London. Guess things finally coming into balance now.

> The UK is a bit of a *hole, except for London

Where have you been in the UK to have this opinion?

Re: British pound hits record low against the dollar

#86

Post by jliptzin »

lisper wrote: post #84

I don't get it. The dollar is supposed to be inflating, so it should take more dollars to buy things. But it takes fewer dollars to buy euros and pounds and stocks and bonds. The prices of all of these things, denominated in dollars, is plummeting. WTF?

They are inflating too

Re: British pound hits record low against the dollar

#87

Post by woodruffw »

nyokodo wrote: post #80
woodruffw wrote: post #19

Earlier quoted context omitted.

I'm no economist, but intentionally cutting themselves out of a massive common market probably isn't helping much.

> intentionally cutting themselves out of a massive common market probably isn't helping much. My understanding is that they never intended to leave the common market but to gain a trade deal that would leave market access substantially the same. However, the EU wouldn’t let them keep access in the divorce if for no reason other than as a cautionary tale for other member states. So, it turned ugly and there they are.

I want to have my cake and eat it, too!

From my outsider’s perspective, the EU’s justification is far stronger than a “cautionary tale”: a Union means a Union. No other country or state structure in the world allows its constituent members to carve out only the bits that they themselves like; that would subvert the entire point of the Union.

Re: British pound hits record low against the dollar

#89

Post by chanc3e »

checker659 wrote: post #79
scott_w wrote: post #70

Earlier quoted context omitted.

Doesn’t make a difference because you’ll not get a hospital bed

Why?

Nearly all A&E (ER) rooms are managed by the NHS. Private ones are few and far between so it’s likely that a tourist with insurance will end up in a standard A&E - which can have very long wait times[1].

The NHS is also using private clinics to help clear backlogs - so even private insurance can lead to a long time to see a consultant.

Ambulances also do not have good response times.

[1]https://www.kingsfund.org.uk/projects/urgent-emergency-care/...

Re: British pound hits record low against the dollar

#90

Post by kmeisthax »

lisper wrote: post #84

I don't get it. The dollar is supposed to be inflating, so it should take more dollars to buy things. But it takes fewer dollars to buy euros and pounds and stocks and bonds. The prices of all of these things, denominated in dollars, is plummeting. WTF?

The Fed has also been raising interest rates, and doing so faster than other countries, which makes the US dollar more valuable than those other currencies. But both currencies are still inflating because COVID and the Ukraine war have managed to shut down a lot of productive capacity in the economy. People are too rich to do without the goods being shorted, so instead prices go up.
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