Stock Markets Crash In Blind Panic

#41
LordVonHarley said:
Buy a little and often all the way down. Mining stock is taking a battering - Gold mines any one? :D
Western United Mines have recently discovered commercially recoverable quantities of gold at South Crofty in Cornwall.
They are working the mine for tin anyway (or will be when development work completes) but the gold content makes it even more atractive!
 

Alsacien

MIA
Moderator
#42
midnight said:
Would it have been so bad if Britain had joined the Euro?the EU would have at least tried to stop Brown´s spend spend spend policies as it would have surely gone against the EU´s monetary restraints, just as Greece has and must now act to get their house in order.
Other than Brits don´t like to be told what to do even if it saves their country from financial ruin,why keep the Pound It´s now too small and has become a plaything for international Hedge Fund managers etc.
The Euro is overvalued and a drop would help Germany´s already rosy export industry,It´s just a shame that Sterling is dropping and that Britains got nothing to export anymore.

When the incoming starts I haven´t run off, I´m off to work! :oops:
The only time it would have made sense for the UK to join the Euro would have been mid '90's, get the ECB in London, financial lead etc.
That window has closed, don't see much need to open it for another 20 years.....
The EU could not have controlled Brown either. The rest I agree with.
 

BuggerAll

LE
Kit Reviewer
Book Reviewer
#43
Alsacien said:
midnight said:
Would it have been so bad if Britain had joined the Euro?the EU would have at least tried to stop Brown´s spend spend spend policies as it would have surely gone against the EU´s monetary restraints, just as Greece has and must now act to get their house in order.
Other than Brits don´t like to be told what to do even if it saves their country from financial ruin,why keep the Pound It´s now too small and has become a plaything for international Hedge Fund managers etc.
The Euro is overvalued and a drop would help Germany´s already rosy export industry,It´s just a shame that Sterling is dropping and that Britains got nothing to export anymore.

When the incoming starts I haven´t run off, I´m off to work! :oops:
The only time it would have made sense for the UK to join the Euro would have been mid '90's, get the ECB in London, financial lead etc.
That window has closed, don't see much need to open it for another 20 years.....
The EU could not have controlled Brown either. The rest I agree with.
I don't agree at all. The EU did not stop Greece or the Peninsular countries or Ireland why would it have stopped the idiot.

One of the reasons that we have nothing to export is that EU membership perverted our import and export trade so much that we no longer have markets outside the EU and guess what: Our EU markets are screwed.

Not only is it not time that we should join the Euro it is time that we should leave the EU.
 
#44
Genuine question, what does all this mean for the average joe on the street. Can someone put it in a nutshell

I'm hoping for jungle rules apocalyptic chaos
 

Alsacien

MIA
Moderator
#46
BuggerAll said:
Alsacien said:
midnight said:
Would it have been so bad if Britain had joined the Euro?the EU would have at least tried to stop Brown´s spend spend spend policies as it would have surely gone against the EU´s monetary restraints, just as Greece has and must now act to get their house in order.
Other than Brits don´t like to be told what to do even if it saves their country from financial ruin,why keep the Pound It´s now too small and has become a plaything for international Hedge Fund managers etc.
The Euro is overvalued and a drop would help Germany´s already rosy export industry,It´s just a shame that Sterling is dropping and that Britains got nothing to export anymore.

When the incoming starts I haven´t run off, I´m off to work! :oops:
The only time it would have made sense for the UK to join the Euro would have been mid '90's, get the ECB in London, financial lead etc.
That window has closed, don't see much need to open it for another 20 years.....
The EU could not have controlled Brown either. The rest I agree with.
I don't agree at all. The EU did not stop Greece or the Peninsular countries or Ireland why would it have stopped the idiot.

One of the reasons that we have nothing to export is that EU membership perverted our import and export trade so much that we no longer have markets outside the EU and guess what: Our EU markets are screwed.

Not only is it not time that we should join the Euro it is time that we should leave the EU.
Now you are just talking nonsense - the UK has destroyed its own manufacturing export industry without any complaint along the way from anyone until recently.....but if you want to blame the EU for everything that is wrong in the UK, crack on, but you sound like a Greek :)
 
#47
Alsacien said:
thegimp said:
Genuine question, what does all this mean for the average joe on the street. Can someone put it in a nutshell

I'm hoping for jungle rules apocalyptic chaos
Your pension has lost value.
I'd posit too early to tell for the UK; because the numbers haven't flushed out fully. When Camo's team have done the due diligence on the hospital pass he's received as incoming govt then we'll see the extent.

No-one has fully got the 'economic picture' yet; not least with one trillion euros pumped into europe - it's all flux.

As far as burning council buildings and dragging bloated career officials naked through the streets whilst policeman cower outside the no go zone... we could start that tomorrow!
 
#48
thegimp said:
Genuine question, what does all this mean for the average joe on the street. Can someone put it in a nutshell

I'm hoping for jungle rules apocalyptic chaos
Contrary to what that other idiotic labour PM, Harold Wilson said in the 70's when he devalued the pound then, "this WILL affect the pound in your pocket"!! Basically the value of the pound will drop against other currencies, the important one being the dollar, this will mean we will be paying MORE for our imports! When you consider that we have to import nearly 80% of our foodstuffs, lump that together with the host of other goods & raw materials we import and you can see it wont take long for it to affect prices in the shops! :x
 
#49
ex_colonial said:
thegimp said:
Genuine question, what does all this mean for the average joe on the street. Can someone put it in a nutshell

I'm hoping for jungle rules apocalyptic chaos
Contrary to what that other idiotic labour PM, Harold Wilson said in the 70's when he devalued the pound then, "this WILL affect the pound in your pocket"!! Basically the value of the pound will drop against other currencies, the important one being the dollar, this will mean we will be paying MORE for our imports! When you consider that we have to import nearly 80% of our foodstuffs, lump that together with the host of other goods & raw materials we import and you can see it wont take long for it to affect prices in the shops! :x
Do we import 80% of our foodstuff from the US? I wasn't aware of this. If not, what you just said is a case of linguistic "find the lady".

A more balanced view would be that we both import and export against a range of trading partners, and therefore against a basket of currencies (of which the Euro and US$ figure highly). Perhaps that is what you mean?
 

Mr Happy

LE
Moderator
#50
Alsacien said:
thegimp said:
Genuine question, what does all this mean for the average joe on the street. Can someone put it in a nutshell

I'm hoping for jungle rules apocalyptic chaos
Your pension has lost value.
Just that, most non-cash or house savings have lost value. The loss however won't be realised (e.g. hit you) unless you are in the process of cashing in that pension or saving. In essence, sweet FA unless you are in your last few years of work. In which case you've had a long run and done damned well, just not at the last hurdle.

to use a five year view its not good:
http://uk.ichart.yahoo.com/z?s=^FTSE&t=5y&q=b&l=on&z=m&a=v&p=s


But to use the 25 year view:
http://uk.ichart.yahoo.com/z?s=^FTSE&t=my&q=b&l=on&z=m&a=v&p=s

its stonking.
 
#51
Bazzinho1977 said:
ex_colonial said:
thegimp said:
Genuine question, what does all this mean for the average joe on the street. Can someone put it in a nutshell

I'm hoping for jungle rules apocalyptic chaos
Contrary to what that other idiotic labour PM, Harold Wilson said in the 70's when he devalued the pound then, "this WILL affect the pound in your pocket"!! Basically the value of the pound will drop against other currencies, the important one being the dollar, this will mean we will be paying MORE for our imports! When you consider that we have to import nearly 80% of our foodstuffs, lump that together with the host of other goods & raw materials we import and you can see it wont take long for it to affect prices in the shops! :x
Do we import 80% of our foodstuff from the US? I wasn't aware of this. If not, what you just said is a case of linguistic "find the lady".

A more balanced view would be that we both import and export against a range of trading partners, and therefore against a basket of currencies (of which the Euro and US$ figure highly). Perhaps that is what you mean?
No we dont import 80% of our food from the USA, however OFTEN when buying goods from abroad, the price is quoted and charged for in DOLLARS! Happy now?
 

Mr Happy

LE
Moderator
#52
ex_colonial said:
Bazzinho1977 said:
ex_colonial said:
thegimp said:
Genuine question, what does all this mean for the average joe on the street. Can someone put it in a nutshell

I'm hoping for jungle rules apocalyptic chaos
Contrary to what that other idiotic labour PM, Harold Wilson said in the 70's when he devalued the pound then, "this WILL affect the pound in your pocket"!! Basically the value of the pound will drop against other currencies, the important one being the dollar, this will mean we will be paying MORE for our imports! When you consider that we have to import nearly 80% of our foodstuffs, lump that together with the host of other goods & raw materials we import and you can see it wont take long for it to affect prices in the shops! :x
Do we import 80% of our foodstuff from the US? I wasn't aware of this. If not, what you just said is a case of linguistic "find the lady".

A more balanced view would be that we both import and export against a range of trading partners, and therefore against a basket of currencies (of which the Euro and US$ figure highly). Perhaps that is what you mean?
No we dont import 80% of our food from the USA, however OFTEN when buying goods from abroad, the price is quoted and charged for in DOLLARS! Happy now?
Apart from Oil & Gas, can you tell me any other non-US import that is quoted in dollars. Not being a cnut, just reckon that O&G is the only thing and that its skewing the figures. Happy to be edumacated...
 

Alsacien

MIA
Moderator
#53
ex_colonial said:
Bazzinho1977 said:
ex_colonial said:
thegimp said:
Genuine question, what does all this mean for the average joe on the street. Can someone put it in a nutshell

I'm hoping for jungle rules apocalyptic chaos
Contrary to what that other idiotic labour PM, Harold Wilson said in the 70's when he devalued the pound then, "this WILL affect the pound in your pocket"!! Basically the value of the pound will drop against other currencies, the important one being the dollar, this will mean we will be paying MORE for our imports! When you consider that we have to import nearly 80% of our foodstuffs, lump that together with the host of other goods & raw materials we import and you can see it wont take long for it to affect prices in the shops! :x
Do we import 80% of our foodstuff from the US? I wasn't aware of this. If not, what you just said is a case of linguistic "find the lady".

A more balanced view would be that we both import and export against a range of trading partners, and therefore against a basket of currencies (of which the Euro and US$ figure highly). Perhaps that is what you mean?
No we dont import 80% of our food from the USA, however OFTEN when buying goods from abroad, the price is quoted and charged for in DOLLARS! Happy now?
As the worlds second reserve currency, and the market currency for the majority of our imports, I would say the Euro is more important to Sterling than the dollar.
This view is supported by the way Sterling has been dragged around by the Euro the last week or so....even in circumstances where I would have expected the opposite. Ironically, the US problem since yesterday seems to be hitting Sterling harder than the Euro, which would not be case if we were a huge dollar importer either.
 
#54
Mr Happy said:
ex_colonial said:
Bazzinho1977 said:
ex_colonial said:
thegimp said:
Genuine question, what does all this mean for the average joe on the street. Can someone put it in a nutshell

I'm hoping for jungle rules apocalyptic chaos
Contrary to what that other idiotic labour PM, Harold Wilson said in the 70's when he devalued the pound then, "this WILL affect the pound in your pocket"!! Basically the value of the pound will drop against other currencies, the important one being the dollar, this will mean we will be paying MORE for our imports! When you consider that we have to import nearly 80% of our foodstuffs, lump that together with the host of other goods & raw materials we import and you can see it wont take long for it to affect prices in the shops! :x
Do we import 80% of our foodstuff from the US? I wasn't aware of this. If not, what you just said is a case of linguistic "find the lady".

A more balanced view would be that we both import and export against a range of trading partners, and therefore against a basket of currencies (of which the Euro and US$ figure highly). Perhaps that is what you mean?
No we dont import 80% of our food from the USA, however OFTEN when buying goods from abroad, the price is quoted and charged for in DOLLARS! Happy now?
Apart from Oil & Gas, can you tell me any other non-US import that is quoted in dollars. Not being a cnut, just reckon that O&G is the only thing and that its skewing the figures. Happy to be edumacated...
The Dollar is one of the 2 main RESERVE currencies, the other being the Euro see http://en.wikipedia.org/wiki/World_currency#Dominant_global_reserve_currencies

If you were buying goods from Zimbabwe or another country with high inflation, the producer wouldn't want to quote a price in his own currency as it would have devalued before he received payment so they normally quote a price in a reserve currency which has the effect of safeguarding the value of their sales! Zimbabwe is an extreme case where inflation was running at over 100,000 % per annum, one hundred THOUSAND %! So if someone quoted the zimbabwean equivalent of $1000 per kilo for a mineral and you ordered 1000 Kilo's per month for 3 months, that is $1,000,000 per month, by the time the last shipment arrived the supplier would only receive a tiny fraction of the dollar price even though he would have the full zimbabwean currency! Hope this explains why MANY countries quote & charge for exports in dollars! The Euro has dropped in popularity so many countries outside of the EU now want dollars!
 

Alsacien

MIA
Moderator
#55
Euro dropping in "popularity" as a reserve currency, what crap are you on about? Check the Treasury market data rises in the last day or two....

The Euro is only a popularity contest on ARRSE, don't forget it is still up 25% on the $ since launch 10 years or so ago - on the markets it is the second biggest reserve currency, and until recently was likely to become the first......
 

Goatman

ADC
Book Reviewer
#56
Alsacien said:
As the worlds second reserve currency, and the market currency for the majority of our imports, I would say the Euro is more important to Sterling than the dollar
But...but.....(making wild assumptions from your nom de guerre and locstat) you seem to be resident in the only country in the EU to have benefitted out of all proportion to its size and historic importance ....and shurely you take your salary in ....er...Euros? Do you not have an axe to sharpen here ?

(adjusts tinfoil chapeau) forgive me for doubting your impartiality as a witness for Prosecution/ Pro Euro camp mon vieux......I await further direction from the Bench on this matter..... :crazy:
 

Mr Happy

LE
Moderator
#57
Alsacien said:
Euro dropping in "popularity" as a reserve currency, what crap are you on about? Check the Treasury market data rises in the last day or two....

The Euro is only a popularity contest on ARRSE, don't forget it is still up 25% on the $ since launch 10 years or so ago - on the markets it is the second biggest reserve currency, and until recently was likely to become the first......
If the Oil Sheiks did not have so many dollar denominated share holdings they'd have switched to the EUR some time back I suspect. I believe its only a matter of time until it switches.

Saddam only wanted EUR for his oil, the conspriacy theorists do say that the reason for the invasion was his idea was picking up popularity amongst other leaders...
 
#58
"Apart from Oil & Gas, can you tell me any other non-US import that is quoted in dollars. Not being a cnut, just reckon that O&G is the only thing and that its skewing the figures. Happy to be edumacated"

Yes,
Telecom Equipment mainly comes from the US of A as that is where the big manufacturers are based.
 

Mr Happy

LE
Moderator
#59
Goatman said:
Alsacien said:
As the worlds second reserve currency, and the market currency for the majority of our imports, I would say the Euro is more important to Sterling than the dollar
But...but.....(making wild assumptions from your nom de guerre and locstat) you seem to be resident in the only country in the EU to have benefitted out of all proportion to its size and historic importance ....and shurely you take your salary in ....er...Euros? Do you not have an axe to sharpen here ?

(adjusts tinfoil chapeau) forgive me for doubting your impartiality as a witness for Prosecution/ Pro Euro camp mon vieux......I await further direction from the Bench on this matter..... :crazy:
I don't think the rank and file in Germany have benefitted at all ;-)
 

Mr Happy

LE
Moderator
#60
bobthedog said:
"Apart from Oil & Gas, can you tell me any other non-US import that is quoted in dollars. Not being a cnut, just reckon that O&G is the only thing and that its skewing the figures. Happy to be edumacated"

Yes,
Telecom Equipment mainly comes from the US of A as that is where the big manufacturers are based.
Yeah, so thats not an example I meant. see my bold above.
 

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