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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

#191

Post by kmeisthax »

nxm wrote: post #161
kmeisthax wrote: post #97

Earlier quoted context omitted.

The EU did not want them keeping access because the UK also wanted to write their own rules. This meant that if the UK decided to lower standards to, say, pursue a US or China trade deal, but the EU let them keep their market access, then they would just be able to smuggle goods into the EU single market. Pretty much every sticking point of the UK/EU negotiations boiled down this. And the stated reasoning was an "I'm…

What you label “I’m me” I say is an individual country’s ability to self determination which every sovereign state should have. Globalist elitists have been getting richer and richer and it was time for a change

Great. The EU works on the same principle, that's why they aren't giving the UK the terms they want. Because those other 27 member states still in the EU are still sovereign and have agreed to negotiate as a bloc. Hell, most of the antidemocratic features of the EU boil down to "the EU is accountable to member states first because member states did not surrender sovereignty when joining the union".

Y'know what we call countries who think their right to self-determination overrides others? We call them paraiahs, or war criminals if they really push the issue.

Re: British pound hits record low against the dollar

#192

Post by mirko22 »

rich_sasha wrote: post #113
wsc981 wrote: post #98

Earlier quoted context omitted.

Yes, Germany benefitted hugely from southern European countries joining the Euro as it made it much easier for Germany to export goods to southern Europe. At the same time it was made much easier (at lower interest rates) for southern European countries to borrow money from northern European countries and other markets, as creditors would feel more secure that they'd get their money back. Creditors would assume the n…

This narrative is kind of correct, but it irks me when people somehow blame northern Europe for southern Europe's debt. No one forced them to overborrow, especially since it mostly happened in times prosperity. Generally speaking, access to cheap debt is seen as a uniformly good thing.

It’s the North providing the debt :)

Re: British pound hits record low against the dollar

#194

Post by bb123 »

LatteLazy wrote: post #193

The UK is a good example of how much damage you can do yourself (nationally) by just disregarding facts and reality for a few years. Our own biggest enemy is our massive arrogance.

I presume you're referring to Brexit, but this seems to be mostly a strong US dollar and energy crisis story. Europe is in a similar situation so I'm not sure what difference staying/leaving would have made.

Re: British pound hits record low against the dollar

#195

Post by skywal_l »

bb123 wrote: post #194
LatteLazy wrote: post #193

The UK is a good example of how much damage you can do yourself (nationally) by just disregarding facts and reality for a few years. Our own biggest enemy is our massive arrogance.

I presume you're referring to Brexit, but this seems to be mostly a strong US dollar and energy crisis story. Europe is in a similar situation so I'm not sure what difference staying/leaving would have made.

Indeed EUR/USD is not doing great either: https://www.google.com/search?channel=fs&client=ubuntu&q=EUR....

Re: British pound hits record low against the dollar

#196

Post by bamboozled »

bb123 wrote: post #194
LatteLazy wrote: post #193

The UK is a good example of how much damage you can do yourself (nationally) by just disregarding facts and reality for a few years. Our own biggest enemy is our massive arrogance.

I presume you're referring to Brexit, but this seems to be mostly a strong US dollar and energy crisis story. Europe is in a similar situation so I'm not sure what difference staying/leaving would have made.

See AUD and JPY also, hopeless.

But I agree with the above sentiment anyway, same could be said for the Soviet Union and in many ways, Russia today.

Re: British pound hits record low against the dollar

#197

Post by chitowneats »

bb123 wrote: post #194
LatteLazy wrote: post #193

The UK is a good example of how much damage you can do yourself (nationally) by just disregarding facts and reality for a few years. Our own biggest enemy is our massive arrogance.

I presume you're referring to Brexit, but this seems to be mostly a strong US dollar and energy crisis story. Europe is in a similar situation so I'm not sure what difference staying/leaving would have made.

It's funny how Trump and Brexit have become these catch-all bogeymen that every societal ill is reflexively attributed to.

Re: British pound hits record low against the dollar

#198

Post by mobiuscog »

chitowneats wrote: post #197
bb123 wrote: post #194

Earlier quoted context omitted.

I presume you're referring to Brexit, but this seems to be mostly a strong US dollar and energy crisis story. Europe is in a similar situation so I'm not sure what difference staying/leaving would have made.

It's funny how Trump and Brexit have become these catch-all bogeymen that every societal ill is reflexively attributed to.

That's what happens when you have governments that only care about themselves and their friends, and not the people they are governing - even if not everything is their fault, experience tells people that they're likely to blame in some part as they've lied so much everywhere else.

Re: British pound hits record low against the dollar

#199

Post by squidbeak »

bb123 wrote: post #194
LatteLazy wrote: post #193

The UK is a good example of how much damage you can do yourself (nationally) by just disregarding facts and reality for a few years. Our own biggest enemy is our massive arrogance.

I presume you're referring to Brexit, but this seems to be mostly a strong US dollar and energy crisis story. Europe is in a similar situation so I'm not sure what difference staying/leaving would have made.

I think the point is the UK entered the energy crisis in poor shape thanks to Brexit.

Re: British pound hits record low against the dollar

#200

Post by LatteLazy »

bb123 wrote: post #194
LatteLazy wrote: post #193

The UK is a good example of how much damage you can do yourself (nationally) by just disregarding facts and reality for a few years. Our own biggest enemy is our massive arrogance.

I presume you're referring to Brexit, but this seems to be mostly a strong US dollar and energy crisis story. Europe is in a similar situation so I'm not sure what difference staying/leaving would have made.

Brexit is example number one but there are 101 other examples (including our approach to energy and our approach to "solving" the energy crisis).

The USD is strong, but that's only half the story here. Just look at EUR vs GBP since Brexit: down 20%. We're doing 20% worse than Europe, an economy with the same issues around energy as ours, plus no real decisive government and which just finished dealing with a debt crisis and a migrant crisis.

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