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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

#101

Post by 411111111111111 »

echelon wrote: post #95
chanc3e wrote: post #89

Earlier quoted context omitted.

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/…

I hate to chime in with an ask, but does someone have a good read on healthcare in developed nations and mind commenting? I always hear and read complaints that the US doesn't have a single player public option for health insurance, and that it makes our country one of the worst. Other nations with "good health care" seem to pay their workers less, have higher taxes, have long wait times at the ER, weak militaries, e…

I think a lot of people aren't aware how greed as reduced the previously decently run healthcare systems in a lot of places.

Germany for example had pretty decent healthcare 10 yrs ago, then a few regulations were passed and it's been doing downhill at a staggering pace.

Nowadays hospitals prefer amputations over simple treatments in diabetes cases as a pretty well known example, as it's me profitable.

Re: British pound hits record low against the dollar

#102

Post by imtringued »

currenciessfe wrote: post #94
spaceman_2020 wrote: post #66

Earlier quoted context omitted.

Paul Krugman is probably the most consistently wrong popular economist I can think of.

They are all wrong. You just never heard of them. Taleb loves making fun of economists. One of his jokes: Trader comes to manager and told him he lost 10 mil because he bought treasuries since the bank economist said they would go up. Manager fires him. Trader asks why, is he required to always win? Manager says no, I didn't fire you because you lost money, I fired you because you listened to the bank economist.

Neoclassical economics can't be correct, the obvious problem is the lack of liquidity costs/taxes as a way to balance out liquidity benefits. The system breaks down if you do the right thing, so you must do the wrong thing all the time.

Re: British pound hits record low against the dollar

#104

Post by quickthrower2 »

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

Trading positive alpha from that information

Re: British pound hits record low against the dollar

#106

Post by picsao »

onlyrealcuzzo wrote: post #33
rr808 wrote: post #5

Crazy times it wasn't long ago that a pound bought over $2. The interesting thing this week is that the most fragile and indebted country that the EU has bailed out for 30 years straight (Italy) has elected a govt that doesn't like the EU. Good times ahead.

Greece was more fragile and indebted for sure...

https://m.youtube.com/watch?v=404IeUzGNZ4

Best explanation I ever heard for that phenomenon

Re: British pound hits record low against the dollar

#107

Post by xnorswap »

quickthrower2 wrote: post #105

The UK could now consider making stuff, and exporting that stuff. Probably good to do a London based startup too, sell to the US. Get your seniors for the price of a US junior (say $60k/y)

This is a lazy stereotype. People have been saying for decades about "the decline of manufacturing" all the while manufacturing output was increasing.

It took a hit from Brexit of course, but peaked shortly before that.

Re: British pound hits record low against the dollar

#108

Post by mym1990 »

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 price of goods and services is inflating but currencies/stocks/bonds are not factored into inflation metrics. If you were to take the current environment for assets, you could say we are in a deflationary period for those specific things.

Re: British pound hits record low against the dollar

#109

Post by imtringued »

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.

>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.

This is an internet myth. The EU common market has four pillars of freeeom and one of them is free immigration between EU countries.

The Free Movement of Goods

The Free Movement of People

The Freedom of Services

The Freedom of Movement of Capital

The UK left the EU because it wanted to limit migration and they thought that somehow they could get a special deal even though there are some very carefully chosen reasons why they have these four freedoms in one package.

For example, trading between countries requires people to cross borders and if they need a visa to trade, there is no more free trade as the government could introduce policies to prevent people from trading by denying visas to transportation companies.

If you compromise on the four freedoms, the entire concept of the EU will collapse not because other member states will leave the EU to get concessions, rather because there are plenty of loop holes to reduce 3 freedoms to two freedoms and two freedoms to one freedom to zero freedoms effectively eliminating the EU entirely without having a single member leave.

Re: British pound hits record low against the dollar

#110

Post by dageshi »

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?

Interest rates and interest rate expectations are the most powerful drivers in the currency markets.
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