$1.48 to the £ today....this is getting ridiculous
Mar 15th 2013, 9:39 pm
#526
Lost in BE Cyberspace
Joined: Mar 2008
Location: Sydney, NSW
Posts: 7,580
Re: $1.48 to the £ today....this is getting ridiculous
Yes, during the (unprecedented) GFC. Before just saying, '...therefore it was totally Labour's fault' I'd be interested to see how a range of other countries performed 2007-10 in comparison.
Back in Australia...Howard & Costello left office almost to the day the GFC got underway. If your politics suits then it's very easy to just say that Labor governments are solely responsible for any worsening of the fiscal position since then. Personally I didn't agree with some/most of the stimulus spending but to an extent it seems to have worked. Yesterday there was the story about the highest number of jobs created since 2000...yet we're all supposed to sack the government in September because of their terrible economic mismanagement. Something doesn't add up somewhere.
Back in Australia...Howard & Costello left office almost to the day the GFC got underway. If your politics suits then it's very easy to just say that Labor governments are solely responsible for any worsening of the fiscal position since then. Personally I didn't agree with some/most of the stimulus spending but to an extent it seems to have worked. Yesterday there was the story about the highest number of jobs created since 2000...yet we're all supposed to sack the government in September because of their terrible economic mismanagement. Something doesn't add up somewhere.
Mar 15th 2013, 11:39 pm
#527
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Joined: Dec 2008
Posts: 3,396
Re: $1.48 to the £ today....this is getting ridiculous
Over all though, it was better than the approach of throwing money at financial institutions like in other countries, which were the source of all the financial woes of the GFC.
Mar 16th 2013, 7:40 am
#529
Banned
Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: $1.48 to the £ today....this is getting ridiculous
The jobs created were mainly part time, or casual, not the permanent jobs. They are using part timers and casual labour to replace full time workers, so they can save on all the underlying expenses and sack them without huge redundancy payouts. NOT new jobs at all, and if you look at IT there is a huge fudge going on with outsourcing jobs to asia and then using 475-ers to fill the gaps of the so-called skills shortage, so that they work for less money than the old permanent staff.
Mar 16th 2013, 3:00 pm
#530
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: $1.48 to the £ today....this is getting ridiculous
You kay is the economic standout of the world
We're all happy!
We're all happy!
Mar 16th 2013, 5:22 pm
#531
BE Enthusiast
Joined: Feb 2008
Location: Canberra
Posts: 899
Re: $1.48 to the £ today....this is getting ridiculous
The jobs created were mainly part time, or casual, not the permanent jobs. They are using part timers and casual labour to replace full time workers, so they can save on all the underlying expenses and sack them without huge redundancy payouts. NOT new jobs at all, and if you look at IT there is a huge fudge going on with outsourcing jobs to asia and then using 475-ers to fill the gaps of the so-called skills shortage, so that they work for less money than the old permanent staff.
http://www.businessspectator.com.au/...apt=commentary
Labor has generally done a better job managing the economy over the last 40 years.
Mar 16th 2013, 5:33 pm
#532
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: $1.48 to the £ today....this is getting ridiculous
part time is better than no time.
Mar 17th 2013, 12:56 am
#533
snɐןɔ ʎʇıuɐs
Joined: Nov 2006
Posts: 6,558
Re: $1.48 to the £ today....this is getting ridiculous
Can I just point out that, come Monday, its quite likely that all hell will break lose in the financial markets.
http://www.bbc.co.uk/news/world-europe-21814325
This really is a case of the lunatics running the asylum - not exactly sure how they think the euro will survive this.
http://www.bbc.co.uk/news/world-europe-21814325
This really is a case of the lunatics running the asylum - not exactly sure how they think the euro will survive this.
Mar 17th 2013, 1:35 am
#534
(It's not my real name)
Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: $1.48 to the £ today....this is getting ridiculous
Can I just point out that, come Monday, its quite likely that all hell will break lose in the financial markets.
http://www.bbc.co.uk/news/world-europe-21814325
This really is a case of the lunatics running the asylum - not exactly sure how they think the euro will survive this.
http://www.bbc.co.uk/news/world-europe-21814325
This really is a case of the lunatics running the asylum - not exactly sure how they think the euro will survive this.
Mar 17th 2013, 2:05 am
#535
Banned
Joined: Aug 2008
Posts: 22,348
Re: $1.48 to the £ today....this is getting ridiculous
Can I just point out that, come Monday, its quite likely that all hell will break lose in the financial markets.
http://www.bbc.co.uk/news/world-europe-21814325
This really is a case of the lunatics running the asylum - not exactly sure how they think the euro will survive this.
http://www.bbc.co.uk/news/world-europe-21814325
This really is a case of the lunatics running the asylum - not exactly sure how they think the euro will survive this.
It's making me wonder if a similar thing could happen in the UK
Mar 17th 2013, 2:07 am
#536
snɐןɔ ʎʇıuɐs
Joined: Nov 2006
Posts: 6,558
Re: $1.48 to the £ today....this is getting ridiculous
At a minimum its a run on the banks across southern europe - at a minimum.
Money will pile out, and into 'safe' countries and banks. Politicians and banksters will get lynched on the streets.
You have to assume that this stupidity is a planned act, and that somewhere, someone will be profiting significantly from what will be massive upheaval at best. Something stinks, this is too stupid a move to not be someone kicking over the first domino in the understanding that they have a way to benefit.
Frankly, I just don't see how the euro can survive this. They just made repudiating debts, dumping the euro and walking away the best move for voters.
http://www.telegraph.co.uk/finance/c...ts-people.html
Money will pile out, and into 'safe' countries and banks. Politicians and banksters will get lynched on the streets.
You have to assume that this stupidity is a planned act, and that somewhere, someone will be profiting significantly from what will be massive upheaval at best. Something stinks, this is too stupid a move to not be someone kicking over the first domino in the understanding that they have a way to benefit.
Frankly, I just don't see how the euro can survive this. They just made repudiating debts, dumping the euro and walking away the best move for voters.
http://www.telegraph.co.uk/finance/c...ts-people.html
Mar 17th 2013, 2:46 am
#537
Lost in BE Cyberspace
Joined: Feb 2005
Posts: 15,526
Re: $1.48 to the £ today....this is getting ridiculous
At a minimum its a run on the banks across southern europe - at a minimum.
Money will pile out, and into 'safe' countries and banks. Politicians and banksters will get lynched on the streets.
You have to assume that this stupidity is a planned act, and that somewhere, someone will be profiting significantly from what will be massive upheaval at best. Something stinks, this is too stupid a move to not be someone kicking over the first domino in the understanding that they have a way to benefit.
Frankly, I just don't see how the euro can survive this. They just made repudiating debts, dumping the euro and walking away the best move for voters.
http://www.telegraph.co.uk/finance/c...ts-people.html
Money will pile out, and into 'safe' countries and banks. Politicians and banksters will get lynched on the streets.
You have to assume that this stupidity is a planned act, and that somewhere, someone will be profiting significantly from what will be massive upheaval at best. Something stinks, this is too stupid a move to not be someone kicking over the first domino in the understanding that they have a way to benefit.
Frankly, I just don't see how the euro can survive this. They just made repudiating debts, dumping the euro and walking away the best move for voters.
http://www.telegraph.co.uk/finance/c...ts-people.html
Mar 17th 2013, 3:27 am
#539
My hovercraft is full of
Joined: Jan 2011
Location: Innaloo
Posts: 507
Re: $1.48 to the £ today....this is getting ridiculous
Much the same as the UK blaming all and sundry for their woes.
Mar 17th 2013, 4:23 am
#540
(It's not my real name)
Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: $1.48 to the £ today....this is getting ridiculous
The prices are so heavily manipulated I wouldn't be surprised by more price falls on the back of dollar strength and even more naked short selling by the criminal cartel of JPM and HSBC who set the price of gold and silver the same way Barclay's set the price of LIBOR.