It says a whole goddamn lot that the Tories managed to fuck up their currency so bad that even the Złoty (which is losing value against basically everything else) is gaining against it.
I better cash in those 500 pounds my mother in law gave me before it becomes fancy toilet paper.
If our Euro goes down, you Brits come with us!
Can we assume that it is automatically bad when a said currency loses value? Certainly, stuff imported and thus at least some stuff on the shelves will get automatically more expensive by the amount currency loses value. But imports and consumption is only on side of a penny, other being exports and production.
If energy gets so many times more expensive in such a short timeframe, it tremendously hurts exports and thus production and thus overall the economy. Among other methods, one method to help producers to become competitive again, is to deliberately devalue currency.
Could it be that this is what European Central Bank and Bank of England (among others) have been doing all along? Was our currencies losing value not pure incompetence on behalf of central banks and governments and perhaps a tool to help producers, or am I thinking too highly of them?
I have heard that Japan and China have been doing this way back in a day, but I am not really well versed on economy so I have no idea what is actually going on. lol
The pound has fallen!
Netherlands: “Our country has two names.”
UK: “Our currency has 3 names”.
Do people think that the Pound will sink further beyond that record 1985 low?
6 comments
It says a whole goddamn lot that the Tories managed to fuck up their currency so bad that even the Złoty (which is losing value against basically everything else) is gaining against it.
I better cash in those 500 pounds my mother in law gave me before it becomes fancy toilet paper.
If our Euro goes down, you Brits come with us!
Can we assume that it is automatically bad when a said currency loses value? Certainly, stuff imported and thus at least some stuff on the shelves will get automatically more expensive by the amount currency loses value. But imports and consumption is only on side of a penny, other being exports and production.
If energy gets so many times more expensive in such a short timeframe, it tremendously hurts exports and thus production and thus overall the economy. Among other methods, one method to help producers to become competitive again, is to deliberately devalue currency.
Could it be that this is what European Central Bank and Bank of England (among others) have been doing all along? Was our currencies losing value not pure incompetence on behalf of central banks and governments and perhaps a tool to help producers, or am I thinking too highly of them?
I have heard that Japan and China have been doing this way back in a day, but I am not really well versed on economy so I have no idea what is actually going on. lol
The pound has fallen!
Netherlands: “Our country has two names.”
UK: “Our currency has 3 names”.
Do people think that the Pound will sink further beyond that record 1985 low?