£ Could Collapse in Weeks!!
Feb 28th 2010 | 12:49 am
#31
Proudly Deplorable
Joined: May 2003
Posts: 24,249
From: Alloha snack bar
Re: £ Could Collapse in Weeks!!
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.
:thumbd own:
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.
:thumbd own:
Feb 28th 2010 | 2:54 am
#32
Banned
Joined: Feb 2009
Posts: 1,855
Re: £ Could Collapse in Weeks!!
Maybe Brown will bring in his plan to print out more banknotes and the Uk will be OK/
Last edited by mohogony; Feb 28th 2010 at 3:11 am.
Feb 28th 2010 | 7:29 am
#33
Forum Regular
Joined: Oct 2008
Posts: 49
Re: £ Could Collapse in Weeks!!
.
Last edited by Matello; Feb 28th 2010 at 7:39 am. Reason: Already been said by another poster.
Feb 28th 2010 | 8:10 pm
#35
BE Enthusiast
Joined: Aug 2002
Posts: 457
Re: £ Could Collapse in Weeks!!
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.
Feb 28th 2010 | 8:18 pm
#37
BE Enthusiast
Joined: Aug 2002
Posts: 457
Re: £ Could Collapse in Weeks!!
So what if the currency falls - it'll make exports cheaper & imports more expensive....result!.
Feb 28th 2010 | 11:21 pm
#40
Proudly Deplorable
Joined: May 2003
Posts: 24,249
From: Alloha snack bar
Re: £ Could Collapse in Weeks!!
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!.
So what if the currency falls - it'll make exports cheaper & imports more expensive....result!.
Feb 28th 2010 | 11:38 pm
#42
BE Enthusiast
Joined: May 2005
Posts: 511
Re: £ Could Collapse in Weeks!!
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
Mar 1st 2010 | 12:04 am
#43
Proudly Deplorable
Joined: May 2003
Posts: 24,249
From: Alloha snack bar
Mar 1st 2010 | 12:05 am
#44
Proudly Deplorable
Joined: May 2003
Posts: 24,249
From: Alloha snack bar
