OzTennis

You don't say. The 'blind and uneducated' fell for all the lies about what this thread is about wouldn't you say?

Beoz

Only you can answer that. You keep posting left wing trash forecast propaganda.

astera

The Dollar was way overvalued. I bolted out when it was above parity with the USD as it was only a question of time before it would take a big hit.

Overall the AUD is prone to outside forces to a greater extent than anything to do with the country itself - it's almost like a barometer of global investor sentiment. Similarly, the Yen tends to rise when things get shaky around the world, even if the Japanese economy is in an even worse position itself.

The GBP, on the other hand, is being hit simply because of the stupidity of UK politicians. Everytime they utter the words "hard brexit" the currency takes a pounding. You'd think our leaders would be able to add 2+2 together but it seems that the Conservatives are even more daft than was previously thought...

OzTennis

May and Carney etc post and predict left wing forecast propaganda eh?

Beoz

So what. Nice speech but you sold the idea of inflation on a declining currency. Australia's currency dived and there was only deflation. Explain that one? The cause doesn't matter. The end result does.

And ..... as you say, the pound decline is based on dumb politicians, rather than hard fundamental economic issues. Australia's decline was based on the decline of the resources demand. Not word of mouth. Not left wing rags.

So who can get out of that hole internally rather than relying on external forces better? Australia or the UK. Lessons to be learned sport.

Your arguments are flawed tiger.

OzTennis

Whether Britain will be in the single market or have to negotiate trade deals outwith the EU is not a fundamental economic issue?

Whether the likes of Nissan will go through with their suggestion they will close down the biggest car plant in Europe Sunderland way is not a fundamental economic issue?

Market responses to inflation, unemployment and growth figures and forecasts is not a fundamental economic issue?

It's all down to 'dumb politicians' - dream on, that's one of many factors affecting the pound currently.

i.e. All exchange rates are mainly affected by interest rates, business confidence, balance of payments on current account deficit or surplus, monetary policy, economic growth, relative inflation rates ...... and political factors.

Beoz

Manufacturing in the west is dead. Unless of course you provide a premium product. Nissan is not a premium product. See car makers in the US, see car makers in Germany. What do they do differently and how is does it affect their economy?

Cars mean a lot to Germany, they don't mean shit to the US.

OzTennis

Geez, talk about off at a tangent. Getting back to the decline in the pound is only down to 'dumb politicians'. You neither agree or disagree that economic factors are and always will be the main determinant of an exchange rate? (Nissan and whether they continue to provide employment and be a significant part of the UK economy was an example of an economic factor Sherlock).

Beoz

Oz T. Here's a cracking article for you.

http://www.smh.com.au/business/property/housing-boom-has-peaked-apartment-glut-to-rock-the-economy-morgan-stanley-20161020-gs6t5m.html

Absolute scare mongering at its best. Firstly the Oz market is different in every city. Darwin and Perth are slumping, east cost booming.

Secondly everyone knows there's only a number of ways to kill a boom. Make it unaffordable to borrow or kill of the money source (recessions) ..... jobs. Supply and demand means shit in property.

There are no fundamental to suggest this is going to happen Oz wide. Instead marketing and propaganda shit like this fills your sphere.

You need to read between the lines before you write crap based on media publications on a public forum.

OzTennis

Start a thread on whether the Australian property market has any relevance to 'did the UK do the right thing in voting to leave the EU'.

You are amazing in that if anything doesn't fit into your scheme of things it is propaganda or left wing. I've pointed out a few times that the Tory MP warned about the effects of the Brexit; the Governor of the Bank of England warned about the effects of Brexit; their warnings are coming to pass. You continue to say its crap based on media publications and one has to read between the lines.

Which of the following do you claim (despite categoric evidence to the contrary):

The pound hasn't fallen?

Inflation hasn't risen?

Business confidence hasn't fallen?

Businesses in the UK such as Nissan will relocate if they no longer have access to the single market?

scot47

Remember the old days when the UK Chancellor of the Exchequer used methods to control personal debt ? Controls on Hire Purchase etc ? Now encouraging personal indebtedness and the use of credit including credit cards is seen as an engine to stimulate the economy.


I am also old enough to remember the days when "Full Employment" was seen as a goal by politicians across the spectrum !

OzTennis

Actually you only need to go back to 2014. George Osborne promised, and I quote, to restore the UK to full employment. It is a vague term and means all things to all men.

To Osborne, his definition of full employment was to have more people working in the UK than any other G7 country - which is crap anyway because the size of the work force isn't the same in all countries, he should have said something about the RATE of unemployment. The person on the street would probably think Osborne was promising a 0% rate of unemployment.

What he promised, again quoting him was "more people working [in Britain] than any of the other countries in the G7 group … The best place in the world to create a job; to get a job; to keep a job; to be helped to look for another job if you lose one".

But it's still pretty ambitious: according to the OECD, Britain's employment rate among those aged 16-64 presently stands at 71% – ahead of the US, France and Italy, but behind Germany, Canada and Japan. Leapfrogging them would entail creating up to a million more jobs to achieve the target.

Since 2014 this hasn't happened and the unemployment rate has remained around and just below 5%. George didn't achieve his target.

Beoz

Merely a demonstration about the accuracy of the press. Often they are wrong.

Who cares about Nissan. Let Nissan go. Who the hell wants a Nissan anyway.

Stop reading falling for all that propaganda.

OzTennis

You have statistics to show the truth is otherwise? 'Publish or be damned' or shut up.

Beoz

Stats for what? I'm not the one making the predictions.

We know the pound has slumped. It was even further down against the Euro 6 years ago. Currencies fluctuate. Who cares.

There's a stat if that's what you are looking for.