Is the end nigh for the Euro? [vol. 3]

[Digga]

I agree with Borghetto. There was a train of thought that said the pound had been over-valued for some time and that we'd been spending (importing) beyond our means.

[Driller]

Borghetto said:

Driller said:

Propaganda. If the pound had stayed strong the speech would be "look at this, inspite of all the fears of Brexit, the British economy is staying competitive" or whatever.

I don't doubt you are right, but how is their statement wrong

Whether it was wrong or right wasn't my point, it was that they felt it necessary to trumpet about it.

"There is oxygen in the air today, which means we can breathe, yay!"

"There is much less oxygen in the air today, our cars will rust less!"

Has an air of desperation about it.

Edited by Driller on Tuesday 18th October 12:10

[anonymous-user]

Driller said:

Propaganda. If the pound had stayed strong the speech would be "look at this, inspite of all the fears of Brexit, the British economy is staying competitive" or whatever.

Indeed but that has got little to do with the 'shock absorber' comments you appear to be dismissing. If you haven't figured it out yet the reason half of Europe is STILL mired in chronic unemployment is precisely because their currency can't weaken. You seem to be confusing the reason for a weaker currency (bad news/uncertainty) with the effects of a weaker currency (stimulus)

[London424]

But any guesses on which country in the EU that uses the Euro actually is benefiting from a weaker currency than they ordinarily would have??

[gruffalo]

London424 said:

But any guesses on which country in the EU that uses the Euro actually is benefiting from a weaker currency than they ordinarily would have??

Italy or Greece, it has to be one of them?

[Digga]

gruffalo said:

London424 said:

But any guesses on which country in the EU that uses the Euro actually is benefiting from a weaker currency than they ordinarily would have??

Italy or Greece, it has to be one of them?

Anyone would think they're the only places you can make olive oil.

[Enricogto]

Digga said:

gruffalo said:

London424 said:

But any guesses on which country in the EU that uses the Euro actually is benefiting from a weaker currency than they ordinarily would have??

Italy or Greece, it has to be one of them?

Anyone would think they're the only places you can make olive oil.

It's Germany

[AstonZagato]

Enricogto said:

Digga said:

gruffalo said:

London424 said:

But any guesses on which country in the EU that uses the Euro actually is benefiting from a weaker currency than they ordinarily would have??

Italy or Greece, it has to be one of them?

Anyone would think they're the only places you can make olive oil.

It's Germany

I didn't know they made olive oil in Germany

[maffski]

Enricogto said:

It's Germany

And as they're being paid for those nice German cars in Euros rather than Drachma they don't even have to worry about buying an Olive farm with their foreign money.

[Digga]

AstonZagato said:

Enricogto said:

Digga said:

gruffalo said:

London424 said:

But any guesses on which country in the EU that uses the Euro actually is benefiting from a weaker currency than they ordinarily would have??

Italy or Greece, it has to be one of them?

Anyone would think they're the only places you can make olive oil.

It's Germany

I didn't know they made olive oil in Germany

Synthetic olive oil, patented by Bayer. Manufactured in Dusseldorf. It's the only thing keeping the prices below £25 /litre.

[Gargamel]

London424 said:

But any guesses on which country in the EU that uses the Euro actually is benefiting from a weaker currency than they ordinarily would have??

Any guesses on which country is most benefiting from the free movement of cheap labour, or a guaranteed million economic migrants to the country ?

Edited by Gargamel on Tuesday 18th October 14:48

[Driller]

fblm said:

Driller said:

Propaganda. If the pound had stayed strong the speech would be "look at this, inspite of all the fears of Brexit, the British economy is staying competitive" or whatever.

Indeed but that has got little to do with the 'shock absorber' comments you appear to be dismissing.

Yes it has because I was dismissing them for the highly-charged-oratory-whipped-up-king-and-country-rhetoric that they are

[anonymous-user]

Driller said:

fblm said:

Driller said:

Propaganda. If the pound had stayed strong the speech would be "look at this, inspite of all the fears of Brexit, the British economy is staying competitive" or whatever.

Indeed but that has got little to do with the 'shock absorber' comments you appear to be dismissing.

Yes it has because I was dismissing them for the highly-charged-oratory-whipped-up-king-and-country-rhetoric that they are

Highly charged oratory? Whipped up rhetoric? Are you for real? He's just making a simple economic point. Apparently not simply enough.

"The fall in the value of sterling has acted as an important "shock absorber" for the economy, according to Bank of England deputy governor Ben Broadbent.

...a flexible currency was "extremely important" to cope with shocks.

..."In the shape of the referendum, we've had exactly one of those shocks," he said, but added the Bank would not intervene to boost the pound's value.

... "Having a flexible currency is an extremely important thing especially in an environment when your economy faces a shock that is different to your trading partners".

... Allowing the pound to react "is a very important shock absorber".

[Enricogto]

AstonZagato said:

Enricogto said:

Digga said:

gruffalo said:

London424 said:

But any guesses on which country in the EU that uses the Euro actually is benefiting from a weaker currency than they ordinarily would have??

Italy or Greece, it has to be one of them?

Anyone would think they're the only places you can make olive oil.

It's Germany

I didn't know they made olive oil in Germany

Weather is too crap there. My answer was of course in relation to London424's question.

[LongQ]

fblm said:

Driller said:

fblm said:

Driller said:

Propaganda. If the pound had stayed strong the speech would be "look at this, inspite of all the fears of Brexit, the British economy is staying competitive" or whatever.

Indeed but that has got little to do with the 'shock absorber' comments you appear to be dismissing.

Yes it has because I was dismissing them for the highly-charged-oratory-whipped-up-king-and-country-rhetoric that they are

Highly charged oratory? Whipped up rhetoric? Are you for real? He's just making a simple economic point. Apparently not simply enough.

"The fall in the value of sterling has acted as an important "shock absorber" for the economy, according to Bank of England deputy governor Ben Broadbent.

...a flexible currency was "extremely important" to cope with shocks.

..."In the shape of the referendum, we've had exactly one of those shocks," he said, but added the Bank would not intervene to boost the pound's value.

... "Having a flexible currency is an extremely important thing especially in an environment when your economy faces a shock that is different to your trading partners".

... Allowing the pound to react "is a very important shock absorber".

And there seems to have been some context that the report sort of somehow didn't quite stress ...

"The deputy governor spoke to the BBC after a forum with university and A-level students in Derby where he explained what the Bank does.

At the moment "we don't really teach" financial education, he told the BBC.

To help people understand the issues better, schools should teach about debt, the banking system and financial decision-making, he said."

So when he "spoke to the BBC" was he discussing the lack of financial education or was that when he mentioned "shock absorber" as if he was making a policy statement of sorts?

My guess is that the "shock absorber" comment was part of his forum content and intended to be understood in an educational context after which he spoke to the BBC and explained his interest in attending the forum based on a "At the moment "we don't really teach" financial education,..." observations - but even that has a very dubious quotation at its core.

The "shock absorber" headline would be much more interesting for the article writer. Context can be tossed away for that attraction.

[cayman-black]

Digga said:

Anyone would think they're the only places you can make olive oil.

The Olives are poor this year , to add to the problems.

[LongQ]

cayman-black said:

Digga said:

Anyone would think they're the only places you can make olive oil.

The Olives are poor this year , to add to the problems.

But why should Olives be rich?

Purely on gut feel, is the "Olive oil price to go up" report recycled annually?

In fact there are so many things that are repeatedly reported as "about to go up" that I'm wondering if they ever do, in reality, and if they do, should they?

Cloud storage cost seems to be going up and any software developer or Broadband provider would not be worth their executive bonuses and share options if they were not gouging subscription models for all they were worth.

But olive oil? Was it not suppose to go up on price last year (or was it the year before) due to a bad crop?

And did it?

Or is it the EU looking at the CAP claims from Olive Grove farmers, totaling the area claimed as being under cultivation, adding up the actual weight coming to market and deciding there has been a poor crop?

I had my car insurance renewal a few weeks ago. Plus 10% (approx) on last year - so back to what it was the year before. I could not be bothered to shop around lacking the time to do it and having decided that it was pretty much impossible to identify genuine like for like policies.

Realising that the Auto renewal would fail as the bank had decided to issue an alternative credit card a few month ago, I went on line to record the change but for some reason could not do so. So I called them. Since I was speaking to a human in the UK I asked if there was any chance of matching last year's cost. They could. In fact they more than matched and significantly reduced the excess.

How come, I wondered?

Yes I know the car insurance market is unfathomable and premiums may depend on any number of odd factors including the time of day and day of week, but all recent reports have suggested that premiums will be increasing significantly with immediate effect because .... well, anything you want to insert it seems.

It seems the reality may be different - or at least selectively different.

So why should we believe that Olive Oil demand and prices will be any different?

[Driller]

fblm said:

Driller said:

fblm said:

Driller said:

Propaganda. If the pound had stayed strong the speech would be "look at this, inspite of all the fears of Brexit, the British economy is staying competitive" or whatever.

Indeed but that has got little to do with the 'shock absorber' comments you appear to be dismissing.

Yes it has because I was dismissing them for the highly-charged-oratory-whipped-up-king-and-country-rhetoric that they are

Highly charged oratory? Whipped up rhetoric? Are you for real? He's just making a simple economic point. Apparently not simply enough.

"The fall in the value of sterling has acted as an important "shock absorber" for the economy, according to Bank of England deputy governor Ben Broadbent.

...a flexible currency was "extremely important" to cope with shocks.

..."In the shape of the referendum, we've had exactly one of those shocks," he said, but added the Bank would not intervene to boost the pound's value.

... "Having a flexible currency is an extremely important thing especially in an environment when your economy faces a shock that is different to your trading partners".

... Allowing the pound to react "is a very important shock absorber".

Good god man, lighten up, I was being facetious

It's clearly a statement to the press designed to keep up moral and keep the beloved "confidence in the markets". Sorry if you don't like it but it's marketing type babble. Like I said, he could just have easily come out with something positive to say about a strong pound like "the international community are investing heavily in the UK economy". When you have the phrase "shock absorber" in screaming headlines about a currency, it's sounds farcical to me and therefore funny. You're sense of humour clearly doesn't work...in the same way

[jjlynn27]

Jimboka said:

Gargamel said:

Yes, and by Autumn

Post 1, over 3 years ago...
I bet its still going in 2020

That was vol3, vol2 started in 2012, vol1 is already in archives. And yet reading this thread is like seing;

[anonymous-user]

Driller said:

Good god man, lighten up, I was being facetious

Oh right. Obviously.