Originally Posted by astera (Post 12087436)

Beoz on brexit: "Just imagine if it didn't happen [a negative scenario after brexit] and the UK became the next Switzerland." :thumbsup:

One only has to look at your posts to see someone who is on cloud 9 whilst being oblivious to reality itself.

The Pound is about to hit its lowest level, at least in my lifetime (or possibly in history) - that pretty sums up the prospects on how this is going to affect us. Switzerland, LOL! :rofl:

Originally Posted by bcworld (Post 12087498)

It's kind of how it works in Australian referendums...maybe that's what Astera is thinking of. For a referendum to carry it needs a 'double majority'...i.e. a popular majority, plus a majority in the majority of states...i.e. at least 4 out of 6.

Originally Posted by astera (Post 12087436)

The Pound is about to hit its lowest level, at least in my lifetime

Originally Posted by commonwealth (Post 12088486)

Latest News today

U.K. GDP Grows 0.5% After Brexit, Beating Estimates - Bloomberg

http://az705044.vo.msecnd.net/20161027/uk-q3-gdp.png

Originally Posted by Beoz (Post 12088542)

A surge in services .... ha .... I wonder if that was on the back of a softer pound and cheaper services. The article didn't say.

Originally Posted by Beoz (Post 12088542)

A surge in services .... ha .... I wonder if that was on the back of a softer pound and cheaper services. The article didn't say.

Originally Posted by Amazulu (Post 12088575)

Nissan committing to Sunderland:
https://www.theguardian.com/business...els-in-britain

UK economy still growing, not strongly but not bad either:
https://www.theguardian.com/business...slowdown-fears

I wouldn't mind trying to get on to that new phosphate mine project in Yorkshire that's recently been given FID - the one that Gina Rinehart is backing (a good tip would be to back what she's backing, the woman knows her onions). 37kms of underground conveyors - now that's a project

Originally Posted by OzTennis (Post 12088603)

So you quote the Guardian when it suits you but when others do and it doesn't suit you, you go on a rant about left wing rags, don't believe them etc? Your right wing friend also says you should read between the lines. :rofl:

Nissan are going to produce the new models at Sunderland AFTER receiving assurances and grants from Theresa May post Brexit i.e. they would have stayed there and produced them without the financial incentives which had to be offered or they probably would have made the models in Portugal, their other EU base without the incentives. (hardly a triumph for Brexit)

Originally Posted by Amazulu (Post 12088590)

Say you owned an airline and were buying new planes. Usually you have a choice of engine providers - Rolls Royce, Pratt & Whitney, GE. They all will have similar performance and any of them would be a viable choice. I would imagine that they all cost pretty much the same in USD terms, but now RR suddenly have an advantage. Their costs are mainly in GBP, so they can afford to sell their engines for less and still make good profits - a competitive advantage. Great news if you are a RR employee or shareholder or own a business/service provider in the Derby or Bristol areas. Not so good news if you are a GE employee in Connecticut

I laugh at the many on BE who fret about exchange rates and spout on with dire predictions and consequences when in reality, different points in the XR cycle favour different people/circumstances

It's all just basic economics and the way shit works

Originally Posted by Garbatellamike (Post 12088389)

Ah so the lowest in 12 or 13 years then ;):sneaky:

Originally Posted by Beoz (Post 12087565)

You keep going on about currency. Sounds like there is a personal bitter pill there. Are you being crippled by you ability to pay for some bad habit in Oz with pounds? Perhaps that bad habit might be property?

Originally Posted by astera (Post 12089107)

You really need to share with us the logic of that response as the last time it was this low was in the mid 80's. :)

Plus I wasn't even writing about that but what will happen shortly when Theresa May(day) enacts Article 50 (since my lifetime goes beyond those years)...



Not at all. I ditched the Pound for the AUD to ride that wave at the time, before offloading everything into the USD when the Aussie Dollar was above parity. My only exposure right now remains in USD.

I hold no significant balance in GBP and certainly no property there. I do wonder whether I should set an automatic conversion rate to GBP to maybe catch a deal when the gov't pushes the self-destruct button. We might see similar volatility to when the Swiss Franc (albeit in the opposite direction) gave up it's fixed rate polity, where a currency makes a huge swing before making a decent-enough correction to cash in upon.

Originally Posted by mrken30 (Post 12088914)

that would all be true if RR didn't assemble their engines in SA

Rolls-Royce rolls out MTU South Africa’s upgraded facility in Cape Town

and the US

Rolls-Royce's $400M modernization is massive juggling act | 2016-10-15 | Indianapolis Business Journal | IBJ.com

A lot of companies moved manufacturing when the exchange rate was over $2 to the pound. that was only 10 years ago.