Brexit Latest: Pound worth less than the Euro at some Bureaux de Change - Polidicks

[QUOTE=Blizzerd;50907916]this is actually good for the british economy.[/QUOTE] Not if imports are growing faster than exports. Which they are. Whoops

[QUOTE=Blizzerd;50907916]this is actually good for the british economy.[/QUOTE] This is good for [I]tourism[/I], which is not a sustainable economic model. It's not good for anything else - your purchasing power decreases relative to the rest of the globe. Imagine you're importing a pineapple from Haiti or something, and pretend one Haitian dollar used to be worth exactly one pound. Now, post-Brexit, let's say that one Haitian dollar is now worth 50p (for the sake of simplicity). If it used to cost you 100 pounds to import those pineapples when it was 1-1, it'll cost you 200 pounds to import the exact same amount of pineapples now, because the value of the pound has depreciated compared to the Haitian dollar. My dad's a writer and his editor is from the UK. My dad pays him a flat salary on yearly contract. Because of Brexit, my dad saved several hundred dollars, because when he paid his editor's salary, the depreciated value of the pound meant that the editor literally received [I]a smaller relative salary[/I] than he would have before Brexit made the pound depreciate as a currency. But sure, it's good for the British economy.

[QUOTE=ChaosUnleash;50907467]Yes, then it sharply dropped once and has remained at where it is now since, despite constant media posts claiming it's getting lower and lower.[/QUOTE] I'm not sure it needs to drop down lower than what it is, to be considered a significant drop. Here's XE's 10-year graph for USDGBP [img]http://i.imgur.com/0lNnkyu.png[/img]

[QUOTE=Cloak Raider;50907546]the terms that the UK isn't getting until it triggers article 50?[/QUOTE] You actually believe backroom deals aren't happening They can't negotiate with the EU itself. They already are negotiation with the constituent countries

[QUOTE=nikomo;50908146]I'm not sure it needs to drop down lower than what it is, to be considered a significant drop. Here's XE's 10-year graph for USDGBP <image of said drop>[/QUOTE] Oh yeah, it's not ideal. I didn't want to leave Europe, either. The point I was making was that ever since that initial drop down to 1.30 ish it's remained PRETTY much stable in terms of rate vs the dollar (although I'm sure there will be some graph somewhere disproving this). Thus, it seems a bit odd that the media constantly insist on trying to tell me it's still dropping vs the dollar when I can see that it's still basically what it was a week ago. I'd rather not have constant doom and gloom on my mind. I didn't want Brexit to happen, but I don't want to see everything just go completely to shit either - which is what these media articles seem to be aiming for (since it's basically saying that there is some exchange somewhere offering terrible rates - therefore it's all terrible!)

[QUOTE=FlashMarsh;50908877]You actually believe backroom deals aren't happening They can't negotiate with the EU itself. They already are negotiation with the constituent countries[/QUOTE] source?

[QUOTE=Cloak Raider;50909727]source?[/QUOTE] [url]http://www.theguardian.com/politics/2016/jul/09/philip-hammond-eu-leaders-happy-to-hold-informal-brexit-talks[/url] Do you seriously, seriously believe that EU constituent countries wouldn't hold informal talks with the UK? Get real. Germany does what it likes. The EU itself has no power and derives all its power from Germany and France and as such will not be respected unless they want to, which given the noises recently about what may or may not be an acceptable agreement, it seems that they are not being respected.

[QUOTE=FlashMarsh;50909985][URL]http://www.theguardian.com/politics/2016/jul/09/philip-hammond-eu-leaders-happy-to-hold-informal-brexit-talks[/URL] Do you seriously, seriously believe that EU constituent countries wouldn't hold informal talks with the UK? Get real. Germany does what it likes. The EU itself has no power and derives all its power from Germany and France and as such will not be respected unless they want to, which given the noises recently about what may or may not be an acceptable agreement, it seems that they are not being respected.[/QUOTE] okay so you've gone from saying that backdeal negotiations are happening, to "informal discussions", which, in the article you've linked, says "In practice, a total ban on informal talks is unenforceable, but the UK will have to tread carefully not to overstep the commission’s attempt to block such talks." the word "informal" has somewhat crept into your argument there, and the word "negotiation" has fallen out of it

[QUOTE=nikomo;50908146]I'm not sure it needs to drop down lower than what it is, to be considered a significant drop. Here's XE's 10-year graph for USDGBP [img]http://i.imgur.com/0lNnkyu.png[/img][/QUOTE] What caused it to go down so much on mid 2008?

[QUOTE=Ctrl;50912971]What caused it to go down so much on mid 2008?[/QUOTE] The global financial crisis aka credit crunch aka great recession

[QUOTE=mdeceiver79;50913002]The global financial crisis aka credit crunch aka great recession[/QUOTE] Oh yeah, I forgot about that, thanks.

[QUOTE=Ctrl;50913016]Oh yeah, I forgot about that, thanks.[/QUOTE] What do you call it in spain/spanish?

[QUOTE=mdeceiver79;50913023]What do you call it in spain/spanish?[/QUOTE] Same as you, however, it is still talked about today and some people consider we are still living the end of it. I remember it as a phenomenom that lasted for a wide period of time along with the housing bubble, not as a one time drop like in the graph.

[QUOTE=Ctrl;50913034]Same as you, however, it is still talked about today and some people consider we are still living the end of it. I remember it as a phenomenom that lasted forma a wide period of time along with the housing bubble, not as a one time drop like in the graph.[/QUOTE] I think you would be right in saying that. Lower wages, higher unemployment, higher social stratification, lower social mobility. The middle class haven't recovered from the great recession or maybe the "normal" has changed and this is how things are now so we should just give up on any hope of recovery to that state.