UK just got downgraded.
Feb 25th 2013, 5:26 am
#16
Melbourne - NE suburbs
Joined: Jun 2008
Posts: 1,032
Re: UK just got downgraded.
from BBC article:
http://www.bbc.co.uk/news/business-21554311
"Moody's announcement sent the pound falling further in value, but financial analysts said the impact was likely to be limited because the markets had been expecting a downgrade for some time."
I reckon it might go down to GBP1.40 or 1.42 this week. Anyone else?
http://www.bbc.co.uk/news/business-21554311
"Moody's announcement sent the pound falling further in value, but financial analysts said the impact was likely to be limited because the markets had been expecting a downgrade for some time."
I reckon it might go down to GBP1.40 or 1.42 this week. Anyone else?
http://britishexpats.com/forum/showt...2#post10355272
Feb 25th 2013, 7:58 am
#17
Happy migrant
Joined: Oct 2006
Location: Newcastle , NSW
Posts: 6,756
Re: UK just got downgraded.
Of course it got downgraded. I am due to arrive in Australia with my life savings in the next few months 
Feb 25th 2013, 10:07 am
#18
Account Open
Joined: Jan 2005
Location: Brisbane
Posts: 4,298
Re: UK just got downgraded.
ups and downs...but still no real change from 4 months ago, or 2 years ago before that I think.
http://britishexpats.com/forum/showt...2#post10355272
http://britishexpats.com/forum/showt...2#post10355272
Feb 26th 2013, 8:25 pm
#21
BE Enthusiast
Joined: Feb 2008
Location: Canberra
Posts: 899
Re: UK just got downgraded.
http://www.telegraph.co.uk/finance/e...#disqus_thread
Talk about desperation. This will make a debased currency even more debased by killing savers in the vain hope that they will start pumping their money into the economy.
Feb 26th 2013, 11:10 pm
#22
Banned
Joined: Aug 2008
Posts: 22,348
Re: UK just got downgraded.
Leaving money in the UK mightn't be such a great idea either:
http://www.telegraph.co.uk/finance/e...#disqus_thread
Talk about desperation. This will make a debased currency even more debased by killing savers in the vain hope that they will start pumping their money into the economy.
http://www.telegraph.co.uk/finance/e...#disqus_thread
Talk about desperation. This will make a debased currency even more debased by killing savers in the vain hope that they will start pumping their money into the economy.
Feb 26th 2013, 11:25 pm
#23
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Thread Starter
Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Feb 26th 2013, 11:28 pm
#24
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Feb 26th 2013, 11:56 pm
#25
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Thread Starter
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Feb 27th 2013, 12:07 am
#26
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: UK just got downgraded.
Not good.
Feb 27th 2013, 7:11 am
#27
BE Enthusiast
Joined: Feb 2008
Location: Canberra
Posts: 899
Re: UK just got downgraded.
As always, Max Keiser nails it with this episode of his show The Kaiser Report.
http://www.youtube.com/watch?v=_ZbhcGs0Fio
In this episode Max highlights the Keynsian cargo cult which controls the Bank of England. In essence, the BoE is trying to engineer the British economy to achieve "escape velocity" so that it escapes its multi trillion pound debt trap. The strategy is to basically inflate Britain out of its death/debt trap by making money incredibly cheap (zero or even negative interest rates) and driving the currency into the ground. Like a shonky space shuttle, the likely outcome will be an economic explosion of bursting asset bubbles and hyper-inflation.
The sane alternative would be to allow the zombie insolvent banks to go bankrupt, nationalise them and slowly rebuild an economy which actually makes things.
http://www.youtube.com/watch?v=_ZbhcGs0Fio
In this episode Max highlights the Keynsian cargo cult which controls the Bank of England. In essence, the BoE is trying to engineer the British economy to achieve "escape velocity" so that it escapes its multi trillion pound debt trap. The strategy is to basically inflate Britain out of its death/debt trap by making money incredibly cheap (zero or even negative interest rates) and driving the currency into the ground. Like a shonky space shuttle, the likely outcome will be an economic explosion of bursting asset bubbles and hyper-inflation.
The sane alternative would be to allow the zombie insolvent banks to go bankrupt, nationalise them and slowly rebuild an economy which actually makes things.
Feb 27th 2013, 7:15 am
#28
Happy migrant
Joined: Oct 2006
Location: Newcastle , NSW
Posts: 6,756
Re: UK just got downgraded.
Leaving money in the UK mightn't be such a great idea either:
http://www.telegraph.co.uk/finance/e...#disqus_thread
Talk about desperation. This will make a debased currency even more debased by killing savers in the vain hope that they will start pumping their money into the economy.
http://www.telegraph.co.uk/finance/e...#disqus_thread
Talk about desperation. This will make a debased currency even more debased by killing savers in the vain hope that they will start pumping their money into the economy.
Feb 27th 2013, 8:11 am
#29
(It's not my real name)
Thread Starter
Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Feb 27th 2013, 8:12 am
#30
(It's not my real name)
Thread Starter
Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: UK just got downgraded.
As always, Max Keiser nails it with this episode of his show The Kaiser Report.
http://www.youtube.com/watch?v=_ZbhcGs0Fio
In this episode Max highlights the Keynsian cargo cult which controls the Bank of England. In essence, the BoE is trying to engineer the British economy to achieve "escape velocity" so that it escapes its multi trillion pound debt trap. The strategy is to basically inflate Britain out of its death/debt trap by making money incredibly cheap (zero or even negative interest rates) and driving the currency into the ground. Like a shonky space shuttle, the likely outcome will be an economic explosion of bursting asset bubbles and hyper-inflation.
The sane alternative would be to allow the zombie insolvent banks to go bankrupt, nationalise them and slowly rebuild an economy which actually makes things.
http://www.youtube.com/watch?v=_ZbhcGs0Fio
In this episode Max highlights the Keynsian cargo cult which controls the Bank of England. In essence, the BoE is trying to engineer the British economy to achieve "escape velocity" so that it escapes its multi trillion pound debt trap. The strategy is to basically inflate Britain out of its death/debt trap by making money incredibly cheap (zero or even negative interest rates) and driving the currency into the ground. Like a shonky space shuttle, the likely outcome will be an economic explosion of bursting asset bubbles and hyper-inflation.
The sane alternative would be to allow the zombie insolvent banks to go bankrupt, nationalise them and slowly rebuild an economy which actually makes things.