Toepoke Posted August 31, 2022 Share Posted August 31, 2022 One third of Pakistan is under water! 😮 https://www.nbcnews.com/news/world/pakistan-floods-un-appeal-aid-monsoon-climate-change-rcna45219 Quote Link to comment Share on other sites More sharing options...
phart Posted September 1, 2022 Share Posted September 1, 2022 11 hours ago, Toepoke said: One third of Pakistan is under water! 😮 https://www.nbcnews.com/news/world/pakistan-floods-un-appeal-aid-monsoon-climate-change-rcna45219 Aye was saying that in another thread, also China undergoing a heatwave that is totally unprecedented(well in modern times of course the earth is pretty old). Quote Link to comment Share on other sites More sharing options...
Toepoke Posted September 1, 2022 Share Posted September 1, 2022 27 minutes ago, phart said: Aye was saying that in another thread, also China undergoing a heatwave that is totally unprecedented(well in modern times of course the earth is pretty old). My MMGW denying faither always comes out with that line "They keep saying hottest day ever, the planet was around for billions of years before they recorded temperatures." Of course it wasn't particularly habitable for a lot of that time... Quote Link to comment Share on other sites More sharing options...
Malcolm Posted September 1, 2022 Share Posted September 1, 2022 we won’t need to worry about global warming when we are picking through the wastelands of the UK in a few years. Prosperity is over. The ftse is falling and the pound is dropping as the rest of the world realises we are fucked and money takes flight from the UK. The worst fall in living standards in a century. This new Great Depression. Quote Link to comment Share on other sites More sharing options...
phart Posted September 1, 2022 Share Posted September 1, 2022 1 hour ago, Toepoke said: My MMGW denying faither always comes out with that line "They keep saying hottest day ever, the planet was around for billions of years before they recorded temperatures." Of course it wasn't particularly habitable for a lot of that time... Indeed a lot hotter when the universe was millionths of a second old. Pity not even protons could form though. Quote Link to comment Share on other sites More sharing options...
phart Posted September 1, 2022 Share Posted September 1, 2022 1 hour ago, Toepoke said: My MMGW denying faither always comes out with that line "They keep saying hottest day ever, the planet was around for billions of years before they recorded temperatures." Of course it wasn't particularly habitable for a lot of that time... It's not even the heat that is the problem , in the sense the numerical number is irrelevant. It's the knock on effect of what the heat does to things, like rivers, food production, cooling, mass migration etc. Quote Link to comment Share on other sites More sharing options...
Malcolm Posted September 1, 2022 Share Posted September 1, 2022 vast number of small businesses will close in early 2023. Quote Link to comment Share on other sites More sharing options...
Malcolm Posted September 1, 2022 Share Posted September 1, 2022 Pound down to $1.15. Quote Link to comment Share on other sites More sharing options...
TDYER63 Posted September 1, 2022 Share Posted September 1, 2022 25 minutes ago, Malcolm said: Pound down to $1.15. Heading to 1.14 , possibly parity . Quote Link to comment Share on other sites More sharing options...
TDYER63 Posted September 1, 2022 Share Posted September 1, 2022 https://www.bloomberg.com/news/articles/2022-09-01/latest-threat-to-the-uk-s-economy-is-its-crumbling-currency Quote Link to comment Share on other sites More sharing options...
Malcolm Posted September 1, 2022 Share Posted September 1, 2022 It’s awful. The implications of this are terrible. 30s style depression ahead. An impossible job for the new PM I think. It’s almost impossible to see anything other than a labour win next election Quote Link to comment Share on other sites More sharing options...
ThistleWhistle Posted September 2, 2022 Share Posted September 2, 2022 11 hours ago, TDYER63 said: Heading to 1.14 , possibly parity . Is the Euro getting battered and all with the dollar getting stronger? Quote Link to comment Share on other sites More sharing options...
aaid Posted September 2, 2022 Share Posted September 2, 2022 35 minutes ago, ThistleWhistle said: Is the Euro getting battered and all with the dollar getting stronger? A bit of both, but largely the relative strength of the dollar. Quote Link to comment Share on other sites More sharing options...
phart Posted September 2, 2022 Share Posted September 2, 2022 It's cause Federal reserve is increasing interest rates for the dollar and then you get Capital flight towards the dollar by investors. Economists have talked about it for ages(at least the ones i've read or listened to), how the zero interest rates of the dollar enables other currencies to be more attractive for capital. That's why the FR is always reluctant to increase interest rates too much cause it can tank other economies (Mark Blyth has gone on about this for as far back as he hs been doing podcasts, plus others) Now there's a global fuel and food problem driving inflation the dollar goes up as it's the safest port. Large multinational corporations don't always like it though cause of the exchange rate hurting their profits. Quote Link to comment Share on other sites More sharing options...
thplinth Posted September 2, 2022 Share Posted September 2, 2022 (edited) 52 minutes ago, ThistleWhistle said: Is the Euro getting battered and all with the dollar getting stronger? Yep. Not just the Euro but all European currencies I think. Everyone is raising interest rates that has an inflation problem. So the US and UK rates have risen almost identically. This is about the sanctions. Looks like it will get worse as well. This from the Russian media. Europeans Paying for Brussels' 'Irrational and Absurd' Energy Policy While US Profits: Kremlin The European Union and individual bloc members have taken a series of measures in recent months to reduce reliance on Russian oil, gas and coal. These efforts sent energy prices skyrocketing, and are threatening to plunge the bloc into a cold winter. Russian President Vladimir Putin has characterized European policymakers' actions as "suicidal." Ordinary Europeans are being made to pay for their leaders' "irrational" policies in relation to Russia, while Brussels' American allies get rich from an energy bonanza, presidential spokesman Dmitry Peskov has said. "Step by step, unfortunately, both Brussels and individual European countries are demonstrating their absolute lack of reason," Peskov told reporters on Tuesday. Another currency doing really well is the Russian Ruble. We are the ones getting fucked in the middle. Edited September 2, 2022 by thplinth Quote Link to comment Share on other sites More sharing options...
TDYER63 Posted September 2, 2022 Share Posted September 2, 2022 5 hours ago, ThistleWhistle said: Is the Euro getting battered and all with the dollar getting stronger? As others have said, the dollar is battering just about everything at the moment, and has been for a while . Initially the euro was taking the brunt of it as they were not increasing interest rates whereas other countries had started moving rates higher. However the ECB have indicated more rate hikes therefore sterling has now taken a hit against the euro, we are currently looking at identical rates on gbp/usd and gbp/eur. I dont really see gbp/eur dropping further to the same extent gbp/usd could though. Often , markets are driven by momentum rather than specifics. At the moment the momentum is well and truly bearish on sterling and it is being driven down against most currencies. There is almost an inevitability that it is moving lower and it will take something major to reverse it . Normally you see currency strategists with different views, but most seem to be in agreement at the moment. Quote Link to comment Share on other sites More sharing options...
ThistleWhistle Posted September 2, 2022 Share Posted September 2, 2022 37 minutes ago, TDYER63 said: As others have said, the dollar is battering just about everything at the moment, and has been for a while . Initially the euro was taking the brunt of it as they were not increasing interest rates whereas other countries had started moving rates higher. However the ECB have indicated more rate hikes therefore sterling has now taken a hit against the euro, we are currently looking at identical rates on gbp/usd and gbp/eur. I dont really see gbp/eur dropping further to the same extent gbp/usd could though. Often , markets are driven by momentum rather than specifics. At the moment the momentum is well and truly bearish on sterling and it is being driven down against most currencies. There is almost an inevitability that it is moving lower and it will take something major to reverse it . Normally you see currency strategists with different views, but most seem to be in agreement at the moment. Cheers for that - what's driving the strength of the dollar out of interest? Quote Link to comment Share on other sites More sharing options...
Malcolm Posted September 2, 2022 Share Posted September 2, 2022 16 minutes ago, ThistleWhistle said: Cheers for that - what's driving the strength of the dollar out of interest? they are far more energy secure than Europe. They have also aggressively raised interest rates which attracts currency as it offers a good return. Quote Link to comment Share on other sites More sharing options...
Malcolm Posted September 2, 2022 Share Posted September 2, 2022 Well it’s starting to happen. Seeing anecdotal evidence of small businesses starting to fold after being presented with energy bill rises of ten fold. Folk just handing back the keys. Staff out of a job, suppliers one less customer to supply. Cafes, music venues, chip shops, etc. I was called alarmist when I suggested we are looking at Dickensian Britain, but that’s where we are heading. There will be £6m unemployed next year coinciding with entirely unaffordable domestic bills. I hope Liz has something miraculous to reveal next week. Quote Link to comment Share on other sites More sharing options...
Ally Bongo Posted September 2, 2022 Share Posted September 2, 2022 3 minutes ago, Malcolm said: I hope Liz has something miraculous to reveal next week. That's a bit like hoping Benny from Crossroads can give you dating tips It can't be emphasised enough how much of a fucking idiot Liz Truss is - she will instigate civil unrest Quote Link to comment Share on other sites More sharing options...
TDYER63 Posted September 2, 2022 Share Posted September 2, 2022 23 minutes ago, ThistleWhistle said: Cheers for that - what's driving the strength of the dollar out of interest? A number of things, many of which have been mentioned . The dollar is generally the currency of choice during global uncertainty. It is the safe haven ‘go to’ currency . They have also led the way on interest rate increases and, unlike the BOE , have taken an aggressive stance. Money will flood to currencies attracting a higher yield particularly when there is deemed to be little risk in that particular country, demand for a currency strengthens the currency further . Also, as Malcolm said , their position on energy is attractive compared to Europe and the UK . The US economy seems to be holding up as well. Its like the opposite of ‘the perfect storm ‘ for the USD , whatever the fook that is called 🙂 Quote Link to comment Share on other sites More sharing options...
Och Aye Posted September 2, 2022 Share Posted September 2, 2022 https://www.bbc.co.uk/news/uk-scotland-62756460 Quote Link to comment Share on other sites More sharing options...
vanderark14 Posted September 2, 2022 Author Share Posted September 2, 2022 Quote Link to comment Share on other sites More sharing options...
vanderark14 Posted September 2, 2022 Author Share Posted September 2, 2022 She's done good here Quote Link to comment Share on other sites More sharing options...
aaid Posted September 2, 2022 Share Posted September 2, 2022 33 minutes ago, vanderark14 said: Daily Record must still be on strike judging by the tone of that piece. Quote Link to comment Share on other sites More sharing options...
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