Originally Posted by Wol (Post 8379243)

I would be very wary of making predictions at the moment. We are in uncharted territory.

There are a scary number of financial "stress lines" all over the world - including Australia: huge debts by individuals and countries, breakneck printing of money - which is devaluing currencies as we speak, artificially anomalous interest rates which can't continue yet can't be moved for political reasons to name a few.

If it was just one country a dozen economists could probably come up with just eight or nine projections, but I think the whole global economy is so intertwined and fragile that a dozen economists no would come up with thirteen answers - all of which would be wrong.

:fingerscrossed::thumbdown::fingerscrossed::thumbd own::fingerscrossed::thumbdown:

Originally Posted by Matello (Post 8382410)

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Originally Posted by mulben (Post 8376968)

George Soros is not respected and any close associate of his would be in the same s**t bucket . His currency manipulation via hedge funds is reason enough to suspect this to be another scam to drive the currency down so" guess who" benefits.

Originally Posted by rajj (Post 8383608)

It's not relevant what Soros is like. What's important is that he CAN initiate a run on sterling rather like the one he did many years ago.

Originally Posted by mohogony (Post 8381872)

Maybe Brown will bring in his plan to print out more banknotes and the Uk will be OK/:thumbup:

Originally Posted by charlie brown (Post 8383625)

but the best question is how long did it take for the pound ot recover:eek:

Originally Posted by rajj (Post 8383632)

Recover against what? Does it matter if it does not recover against say the USD?

Originally Posted by rajj (Post 8383626)

OK here's an odd question: What is wrong with just printing money to deal with the crisis. Can someone articulate the answer so that I can understand it? Afterall the US is currently doing precisely that.
So what if the currency falls - it'll make exports cheaper & imports more expensive....result!.

Originally Posted by Amazulu (Post 8384000)

Weaker GBP will help the UK economy to a certain degree in regard to exports but if it gets too weak then it will hurt other parts of the economy.

Originally Posted by Amazulu (Post 8384000)

Weaker GBP will help the UK economy to a certain degree in regard to exports but if it gets too weak then it will hurt other parts of the economy.

Originally Posted by mindblower (Post 8384003)

Zimbabwe prints money.

Originally Posted by charlie brown (Post 8384037)

not if you are having to buy in raw materials in another currency because they won't accept pounds,which is happening now as we type it is really getting tough

Originally Posted by Amazulu (Post 8384084)

Do you have any examples?