Ending the year on a high...

[turtle]

It is carpet bagger season for foreign companies who are taking advantage of the fire sale of uk business, assets and intellectual property as sterling remains weak and depleted in value.

I keep telling you Waz,.. the UK own very little of our national treasures as the EU have raped and plundered this country over many years.

[waz-24-7]

News headlines today are suggesting ECONOMISTS have been left red-faced after admitting they were wrong in making doom-mongering predictions about the impact of Brexit as Britain ended the year with one of the healthiest economies in the advanced world.
Contrary to predictions, Britain’s economy post-Brexit has been shown to be thriving, with business activity hitting a 17-month high last month.
Britain’s economy grew by 2.2 per cent last year, which is more than six other leading nations including the US, Germany and Japan.

So much for the predictions from those supposedly in the know!

This is indeed very correct and excellent news.
However.
The UK is still within the EU and it is business as normal for the EU member. Nothing has essentially changed and the UK economy currently relishes within its success following a very difficult time post the 2008 financial crash. It will be certainly the next 12 months and onwards into the next decade that a true and realistic picture and strategy will emerge.
Certainly the crash of sterling has serious more immediate consequences that in the first 1/4 of 2017 will see inflation rise several points.
I expect growth to cool somewhat and the real financial cost of BREXIT to be clear within 3 years.

[waz-24-7]

Global tolerance and union is critical, in my view, for the long-term succession of the human race. Peace in our time should be a global aspiration . The isolationist and protectionist agenda of many is not concussive to that aspiration but promotes unrest, aggression, and a human behaviour that defies any ability to survive.

Your views in the para above do you credit, Waz, but I think you may be muddling your acronyms.! The EU is not an organisation devoted to achieving word peace.

It is, in fact. the organisation with an "isolationist and protectionist" Agenda and is an exclusive club for the financial advantage of its richer and more developed and powerful member nations and meant to form a large protectionist block to face others and become another USA with the loss of individuality and internal decision making of its members. It also provides a home and income to meet the standard of living to which they want tobe accustomed for discredited and dis-elected politicians for the aforesaid powerful member nations.

This is why some of us supported Brexit so the UK could have control of its own destiny and hopefully arrange it own world wide (not just European) alliances where they would do its citizens most good, financially and in the interests of global cooperation and peace[/quote]


RR
Your view is noted.
Is not the UK one of those privileged members? With our strong economy and privileges? Yes without doubt. Therefore that cannot be the reason to leave.
I feel certain that most BREXIT supporters were duped by the cost of membership, immigration and the promise of a newly financed health service from all that money that was to become available. What a joke that was!!
Little was made of the security that comes with an EU type alliance,. The sharing of technology, policing, research, education, are all benefits of EU type alliances.
The Global cooperation that you refer to is indeed encouraging. To achieve this after divorcing our closest neighbours hardly sends out a friendly message of cooperation to the world. Furthermore we have essentially rejected cooperation with Europe. I suspect that the UK could soon become the black sheep of the world family and be isolated to the corner of the field.
I may be incorrect on that but BREXIT has certainly send out a message of NON cooperation.

[waz-24-7]

It is carpet bagger season for foreign companies who are taking advantage of the fire sale of uk business, assets and intellectual property as sterling remains weak and depleted in value.

I keep telling you Waz,.. the UK own very little of our national treasures as the EU have raped and plundered this country over many years.

Turtle,
I think you will find that the big asset buyers from offshore are :
Indian, Chinese, Middle eastern oil wealthy nations and others,
EU member states have , Just as the UK has, taken advantage of freedoms to start businesses, trade and prosper within the EU economic area.
That is a two way trade with no patent upon success or failure.

In the capitalist world money talks and makes things happen. The asset plundering you refer to cannot be halted. The market is global and buyers will buy whatever and wherever they are able. Divorcing Europe will not stop the "plundering"

[turtle]

Waz
I fully accept the capitalist system and don't have a problem with that but it was you who stated that the UK was having "yet another" fire sale which to me is you just getting hysterical yet again.

If you take a look at your posts just after the vote you constantly warned of terrible things would happen around Christmas and New Year and guess what.....yes you were wrong AGAIN.

[waz-24-7]

Waz
I fully accept the capitalist system and don't have a problem with that but it was you who stated that the UK was having "yet another" fire sale which to me is you just getting hysterical yet again.

If you take a look at your posts just after the vote you constantly warned of terrible things would happen around Christmas and New Year and guess what.....yes you were wrong AGAIN.

Turtle,
Yes the fire sale has indeed been happening post referendum. My point is that it is not European plundering that you refer to but carpet baggers with real wealth from those countries I have listed.

The fall in sterling of 17% against primary trading currencies is indeed terrible. The true cost of this will filter down to consumers and the general public during 1st quarter of 2017 and onwards through the year. 3-4% inflation will not be a surprise.

From a Cyprus prospective which will be of interest to many. Turkey is under attack and the tl is very weak. The tl @ 4.5 today is great if you live here this is the weakness of Turkey rather than the strength of the UK. Against the US $ and Euro it is at a consistent low.

WRONG..I think not. Panning out as I thought but I accept that and thankfully markets have stabilised and will remain buoyant until the real fight begins when we are forced to leave (article 50). After all we are still in the EU and still trading, selling and doing good business.

[turtle]

Yeah Waz,... I suppose if you make enough predictions may may get one right at some point.

So c'mon give us some examples of this so called fire sale ?

[waz-24-7]

Yeah Waz,... I suppose if you make enough predictions may may get one right at some point.

So c'mon give us some examples of this so called fire sale ?

A few examples.....Come on when products are a lower price people BUY.

Japanese firms’ appetite for British takeovers looks set to continue into 2017, as Sumitomo Rubber Industries agreed a £215m deal to buy Micheldever Tyre Services (MTS), the UK’s second largest car tyre distributor. Guardian

http://www.cbronline.com/news/internet- ... s-4952343/
6 of UK top IT companies go to offshore buyers.

British businesses are a very attractive proposition for overseas buyers: so what happens when a big player comes to the UK?

Australian retail giant Wesfarmers has recently announced it will acquire the British DIY chain Homebase for £340 million, subject to approval by the shareholders of Homebase owner the Home Retail Group. ASHFORDS Reporting

[turtle]

Hahaha... oh Waz

The 6 IT companies were all sold before the Brexit vote , one in 2011 ? and Homebase was sold in January 2016.

[Dalartokat]

Homebase was in trouble back in 2015, Sainsburys were in negotiations to buy and it fell through. Hence the new takeover. Nothing to do with Brexit, retail in the UK is always being taking over for various reasons. Useless management not upping their game mostly. We've been listening for the past 4 years how M&S are hanging on by the skin of their teeth. It's nothing to do with Brexit or fire sales.

We've had overseas companies taking over businesses in UK for years and property development etc. Any business, in my opinion, that has changed hands recently. has been the result of long negotiations, they havn't just happened since June 23rd 2016.

You cannot make a story just because you could not accept which way the referendum vote went.

I don't expect everything to be plain sailing, change never is, but I am happy that I voted to come out of Europe and happy that Theresa May is dealing with it. If she fails we Brits will pull through.

As for "Come on when products are a lower price people BUY. " I do this every week when I go shopping.

[waz-24-7]

Hahaha... oh Waz

The 6 IT companies were all sold before the Brexit vote , one in 2011 ? and Homebase was sold in January 2016.

I think your are mistaken. Please review the dates of the said reports.
Can I suggest you research the sale of UK companies during 2015/2016 whilst debate on BREXIT was alive and after the referendum when sterling collapsed.
Turtle.
You do not need to follow or digest my analysis of a post BREXIT UK. Too many take the view it is all over just a few months on whilst those with a longer term view and perhaps a better understanding of trade and economics can see through the mist to the potential storm ahead. I say a mist because even now there is no plan, strategy. Just doubt and uncertainty flavoured with some blind and wishful thinking. No bad think if it all comes good.

On another note the economics part of BREXIT is just a relatively short term single generation concern. I have relayed my thoughts and concerns upon the bigger picture for the future of an isolated UK in an insecure and increasingly divided world. The very same divisions that gave Europe the two most terrible and deadly of wars in modern history. This again could be the true consequence of intolerance and non cooperation that now threatens Europe and wider.

[turtle]

You do not need to follow or digest my analysis of a post BREXIT UK. Too many take the view it is all over just a few months on whilst those with a longer term view and perhaps a better understanding of trade and economics can see through the mist to the potential storm ahead. I say a mist because even now there is no plan, strategy. Just doubt and uncertainty flavoured with some blind and wishful thinking. No bad think if it all comes good

Your arrogance,.... the same as most remain politicians Tim Farron, Nick Clegg et al seems to shine through when you come up against a different opinion.
You are indeed a very clever man if you can see into the future perhaps you are wasted in the job you currently do ?

[waz-24-7]

You do not need to follow or digest my analysis of a post BREXIT UK. Too many take the view it is all over just a few months on whilst those with a longer term view and perhaps a better understanding of trade and economics can see through the mist to the potential storm ahead. I say a mist because even now there is no plan, strategy. Just doubt and uncertainty flavoured with some blind and wishful thinking. No bad think if it all comes good

Your arrogance,.... the same as most remain politicians Tim Farron, Nick Clegg et al seems to shine through when you come up against a different opinion.
You are indeed a very clever man if you can see into the future perhaps you are wasted in the job you currently do ?

I express an opinion that can be of course be contested. I contest the opinion of many BREXIT SEPERATISTS that think its all over besed on the weakness of the tl and the buoyant state FTSE whilst we are still in the EU. This shortsighted misguided analysis reflects the error in judgment of the bigger, long term picture of the UK, EUROPE and indeed the WORLD.

Of course I cannot see into the future but certain signals, signs and interpretations can be assessed , analysed and measured in order to secure advantage.

[turtle]

There you go Waz,.... a bit clearer now..

http://www.bbc.co.uk/news/uk-politics-38546820

[waddo]

I wish her luck! With average household debt now at £13,000 and credit card spending up by 2.8%, Scotland planning on another referendum as well - looks like "Making Britain Great" again will actually only be referring to England, Ireland and Wales, that is presuming that Ireland don't jump ship as well. This year could be quite interesting, especially for people who have left the UK and now are permanent residents of other EU countries - wonder how many of them will return to help drain resources?

[Dalartokat]

I wish her luck! With average household debt now at £13,000 and credit card spending up by 2.8%, Scotland planning on another referendum as well - looks like "Making Britain Great" again will actually only be referring to England, Ireland and Wales, that is presuming that Ireland don't jump ship as well. This year could be quite interesting, especially for people who have left the UK and now are permanent residents of other EU countries - wonder how many of them will return to help drain resources?

Well my household is not in debt or has a credit card so someone else can have my share.

So onwards and upwards....................https://www.gov.uk/government/news/dit- ... investment

..and maybe a small hope for those in Spain ............https://www.liveincarejobs.co.uk/resour ... ng-program

[waz-24-7]

There you go Waz,.... a bit clearer now..

http://www.bbc.co.uk/news/uk-politics-38546820

Clear as mud!!
So what do we actually get?
Nobody appears to know.
We have been led into a BREXIT that has no, or indeed has ever had a, strategy, a plan or an ultimate objective.
The cowardly blind have led the blind into a dark corner.
Mrs May has taken her brief from the populous who have no apparent idea upon what they want, expect or how to get it.

I do hope it comes good !!

[waz-24-7]

I wish her luck! With average household debt now at £13,000 and credit card spending up by 2.8%, Scotland planning on another referendum as well - looks like "Making Britain Great" again will actually only be referring to England, Ireland and Wales, that is presuming that Ireland don't jump ship as well. This year could be quite interesting, especially for people who have left the UK and now are permanent residents of other EU countries - wonder how many of them will return to help drain resources?

Well my household is not in debt or has a credit card so someone else can have my share.

So onwards and upwards....................https://www.gov.uk/government/news/dit- ... investment

..and maybe a small hope for those in Spain ............https://www.liveincarejobs.co.uk/resour ... ng-program

Given the fact that the UK is currently a fully fledged member of the EU. Investment and buoyancy within the UK economy remains good. It is business as usual. Investment now in the weeks before the divorce will pay dividends A foot hold in the UK is certainly deemed beneficial and with the weakness of sterling , any investment is both excellent value for money and keeps the door open post brexit.

The forthcoming divorce negotiations are critical and like any divorce the costs will be enormous. Costs to set up and administer a complete new catalogue of UK regulations, guidelines, laws and the implementation of same will likely take many years and require a massive investment in people infrastructure and of course money. Buckets of it!!
Anyone who is counting chickens now is certainly a foolish chicken famer.

[waz-24-7]

Homebase was in trouble back in 2015, Sainsburys were in negotiations to buy and it fell through. Hence the new takeover. Nothing to do with Brexit, retail in the UK is always being taking over for various reasons. Useless management not upping their game mostly. We've been listening for the past 4 years how M&S are hanging on by the skin of their teeth. It's nothing to do with Brexit or fire sales.

We've had overseas companies taking over businesses in UK for years and property development etc. Any business, in my opinion, that has changed hands recently. has been the result of long negotiations, they havn't just happened since June 23rd 2016.

You cannot make a story just because you could not accept which way the referendum vote went.

I don't expect everything to be plain sailing, change never is, but I am happy that I voted to come out of Europe and happy that Theresa May is dealing with it. If she fails we Brits will pull through.

As for "Come on when products are a lower price people BUY. " I do this every week when I go shopping.

Yes of course.
But the UK takeovers that are foreign have saved themselves about 17% .just like your weekly shopping.
Buy a UK company as opposed to an American one because its cheaper in the UK right now.
Not BREXIT related but simply sterling collapse which indeed is a result of the referendum. That is the link.

[TRNCVaughan]

http://www.xe.com/currencycharts/?from= ... Y&view=12h

[waz-24-7]

http://www.xe.com/currencycharts/?from= ... Y&view=12h

Should there be some comment or view accompanying the link please

[PoshinDevon]

http://www.xe.com/currencycharts/?from= ... Y&view=12h

Should there be some comment or view accompanying the link please

Self explanatory for me, especially if you click the yearly view of the TL v GBP.

[waz-24-7]

Yes indeed
£ sterling against tl is a good and a pleasant surprise .
Bad news for Turkey.
Against the main currencies sterling remains abysmal.

[niceone]

Average household debts stands at a record £13,000 - not taking into account mortgages - following a sharp rise in borrowing.

Families are having to take out more loans to supplement their pay, according to research by the TUC.

Nationally, unsecured debt, excluding mortgages, currently stands at a record high of £349 billion.

This figure equates to each homeowner owning roughly £13,000 each.


I am astounded by this figure, many of us have no unsecured debt therefore the people who do must owe far more than that figure, the repayments must be scary !

[waz-24-7]

Money is cheap in the UK and has been for a few years with interest rates so low.
There are numerous very attractive 0% payment plans for cars, furniture, white goods etc. There has been a feeding frenzy the past 3 years at least
The banks have been supporting this strategy and manufacturers are enjoying high demand whilst foregoing margin for higher output.
These same manufacturers are able to borrow money at an all time low rate. investments on plant and machinery to improve productivity is buoyant too.
It has been win win win.
However, inflation is on the horizon in a big way and it could easily go pear shaped for many that are unprepared.

[kerry 6138]

Money is cheap in the UK and has been for a few years with interest rates so low.
There are numerous very attractive 0% payment plans for cars, furniture, white goods etc. There has been a feeding frenzy the past 3 years at least.

This is not my experience of the UK any 0% offers will have the real price loaded and the rise of high street loan shops offering astronomical APR rates.
I remember trying to buy a single bed on the high street (Bright House) they wouldn't give a cash price they only sold goods through their high interest finance scheme.

[Hedge-fund]

Money is cheap in the UK and has been for a few years with interest rates so low.
There are numerous very attractive 0% payment plans for cars, furniture, white goods etc. There has been a feeding frenzy the past 3 years at least
The banks have been supporting this strategy and manufacturers are enjoying high demand whilst foregoing margin for higher output.
These same manufacturers are able to borrow money at an all time low rate. investments on plant and machinery to improve productivity is buoyant too.
It has been win win win.
However, inflation is on the horizon in a big way and it could easily go pear shaped for many that are unprepared.

All these problems....................and whilst in the sacred EU.

Inflation has been over 5% in the last 5 years and interest rates didn't move - again all whilst in the glorious EU.

The reason we have kept rates below zero over the last 10 years is that our banks were bankrupt and the govt (by printing money) has recapitalised them. The EZ did not do this and most of their banks are zombies. The ECB have played catch up over the last 18 months but it is too little too late.

[waz-24-7]

HF
Generally speaking the BOE strategy has succeeded. Since 2008 the UK has moved out of recession and the economy continues to ride on that hard earned impetus. Certainly Sterling has collapsed since the BREXIT referendum and 2017 will present very interesting challenges. In particular the BREXIT deal and the onset of significant inflation.
The European Central Bank now has its own issues which will have a diminished influence upon the UK given BREXIT. It is certainly a distinct advantage that the UK did not enter the European unified currency.

It remains the case that money is cheap in the UK. The 0% deals that I have refereed to have stimulated retail demand for consumer products and consumer borrowings have reflected this. The Brightside high street lender is NOT a suitable example being a quick quid type of lender to those who have little or reduced choice when approaching lenders.

Yes we are currently in the EU and taking all possible advantage of a buoyant economy. I hope the BREXIT deal can come swiftly so at least we know what lies ahead on the battle field.

[kerry 6138]

Average household debts stands at a record £13,000 - not taking into account mortgages - following a sharp rise in borrowing.

Families are having to take out more loans to supplement their pay, according to research by the TUC.

Nationally, unsecured debt, excluding mortgages, currently stands at a record high of £349 billion.

This figure equates to each homeowner owning roughly £13,000 each. !

.Waz wrote-It remains the case that money is cheap in the UK. The 0% deals that I have refereed to have stimulated retail demand for consumer products and consumer borrowings have reflected this. The Brightside high street lender is NOT a suitable example being a quick quid type of lender to those who have little or reduced choice when approaching lenders.



Do you think these may be the type of people the TUC research alludes to.
Employers taking advantage of abundant Labour market not to pay a living wage and being forced only by legislation to pay minimum wage, along with uncontrolled payday lenders have led to the above figures.imo.

[waz-24-7]

Average household debts stands at a record £13,000 - not taking into account mortgages - following a sharp rise in borrowing.

Families are having to take out more loans to supplement their pay, according to research by the TUC.

Nationally, unsecured debt, excluding mortgages, currently stands at a record high of £349 billion.

This figure equates to each homeowner owning roughly £13,000 each. !

.Waz wrote-It remains the case that money is cheap in the UK. The 0% deals that I have refereed to have stimulated retail demand for consumer products and consumer borrowings have reflected this. The Brightside high street lender is NOT a suitable example being a quick quid type of lender to those who have little or reduced choice when approaching lenders.





Do you think these may be the type of people the TUC research alludes to.
Employers taking advantage of abundant Labour market not to pay a living wage and being forced only by legislation to pay minimum wage, along with uncontrolled payday lenders have led to the above figures.imo.

Kerry
Very possible.
Payday lenders pray on the most vulnerable and the gullible. To even consider interest rates that are often 1000% plus is stupidity. I detest those TV adds with an attractive well dressed female who smiles as she welcomes the opportunity to borrow at 1200 %. Hardly the typical client. The audience however is there and it works as the less switched on line up and borrow.

This sector is comparatively small in terms of borrowing. Pay day lenders would very unlikely entertain a £13K loan. I suspect most loans are a couple hundred pounds with extortionate repayment plans that are very difficult to fulfill.
The real high value loans are those that I have refereed to, business loans and consumer credit deals.

[turtle]

To bring it back to the Brexit talks after A50 is triggered I really can't see what all the anticipation is all about.
The EU despots have already made it very clear we get no access to the single market without free movement of people...Well over 17m people will not accept this uncontrolled immigration so it's game over before it starts.

If remainers truly think some cosy deal will be struck then I'm afraid it's not going to happen now is it ?

[turtle]

http://www.express.co.uk/finance/city/7 ... -Committee

Yet another u turn

[jofra]

...Well over 17m people will not accept this uncontrolled immigration so it's game over before it starts.....

As the referendum has now taken place (and another is at the very least unlikely), I don't think 17 people, 17m people or 170 billion people will ever have any say or effect - it will be decided and imposed (like everything is!) by the couple of hundred or so current elected power-hungry, self-seeking individuals who form the government at the time.....
Even if/when a government is changed by us naive, gullible electorate swallowing a different set of quickly-to-be-broken promises, that government will then do what it chooses - and disregard the electorate...

[waz-24-7]

...Well over 17m people will not accept this uncontrolled immigration so it's game over before it starts.....

As the referendum has now taken place (and another is at the very least unlikely), I don't think 17 people, 17m people or 170 billion people will ever have any say or effect - it will be decided and imposed (like everything is!) by the couple of hundred or so current elected power-hungry, self-seeking individuals who form the government at the time.....
Even if/when a government is changed by us naive, gullible electorate swallowing a different set of quickly-to-be-broken promises, that government will then do what it chooses - and disregard the electorate...

Some truth in your comment Jofra. However democracy is the best that we have in the free world. The same power hungry individuals have, by enlarge, been put into power by the majority of the voting public.
Very easy to criticize, which is fair and proper but please ; do you have a better system or an alternative to the current.

[waz-24-7]

http://www.express.co.uk/finance/city/7 ... -Committee

Yet another u turn

Hardly a U turn. An honest and up to date analysis that has substance.
The stance and risks upon the economic effects to the UK remain clear. The deeper negative effects that I have commented upon are not Mr Carney's remit. Certainly the EU will be damaged also by BREXIT. Lose lose has always been the prediction.
Should the man be shot, followed by anyone with a European passport!! ?
Perhaps the trenches of the Somme should be opened up again in preparation for the future!! plus get the Battle of Britain airfields up and operational again!!
Nuclear proliferation will most certainly be on the agenda for most of the G20.

[turtle]

Get ready for Tuesday people.

Theresa May to make major speech on Brexit, the single market and the EU law...... Watch the pound then ?

[geroff]

Get ready for Tuesday people.

Theresa May to make major speech on Brexit, the single market and the EU law...... Watch the pound then ?

Now now Turtle, you mustn't mention Brexit it upsets so many on here reading through the negative ones posts ...

Well said on all your posts any way, off to get a compfy seat and wait for Theresa to tell the EU to go sling their hook ..

[waddo]

Could not care less about Brexit, personally I think it was a huge mistake but what will be, will be. Just wonder if the pound will fall any further back than - according to the financial experts - the 20% it has already lost? If not then what makes the experts think it will recover against all other currencies - apart from the Turkish Lira of course?

I read all the comments about the FTSE being at an all time high but don't understand how that affects the working normal person? I also read about how much money is coming into the country from outside but is this not due to the weak pound and that everything of value in the UK is now for sale at 20% less than it used to be? To me, an outsider looking in, it seems that very soon the UK won't own anything worth having as it will have sold off most things to overseas buyers - what then?

Only interested because I still have children, grandchildren and great grand children trapped in the UK fighting for survival in the future, what is their way forward based on what - and nobody knows yet - Theresa May might say and then maybe do?

[turtle]

Only interested because I still have children, grandchildren and great grand children trapped in the UK fighting for survival in the future

Waddo
That statement is a bit confusing ?,... are you saying your UK based family are fighting for survival now whilst still in the EU ? or are you saying that they will struggle after we brexit,...if that is the case how do you know, do you have some information you wish to share with us ?

[erol]

Only interested because I still have children, grandchildren and great grand children trapped in the UK fighting for survival in the future

Waddo
That statement is a bit confusing ?,... are you saying your UK based family are fighting for survival now whilst still in the EU ? or are you saying that they will struggle after we brexit,...if that is the case how do you know, do you have some information you wish to share with us ?

As much as you want to deny reality turtle the simple fact is a 20% decrease in the value of sterling affects everyone who has income that is in sterling. It is not just that one pound today buys you less Euros or Dollars than a year ago, it means that one pound today pretty much buys you less 'anything' today than a year ago, less petrol, less electricity, less food, less defence, less healthcare and on and on and on. This is true if you have sterling income and live in the TRNC and it is true if you have sterling income and live in the UK. There is differing degrees of delay as to how quickly the decrease in the value of sterling filters through to retail prices depending on numerous factors but the effect is inevitable and unavoidable. The only way such a decrease in Sterling could not affect people with sterling income is in 'things' in which the UK is entirely 'self sufficient', things where all the 'inputs' - raw materials, plant and equipment, power and energy - are themselves priced solely in sterling, which in reality means practically nothing.

The effect of the massive decrease in the value of sterling since we voted to leave the EU has and will continue to directly affect negatively everyone who has income in sterling. The boost this decrease in sterling gives to the stock market only directly affects positively those who own stocks and shares and as such is a smaller number of people than those with income in sterling and generally the 'better off'. Those who have income in dollars and Euros and who also have UK stocks and shares are benefiting more than those who have such stocks and shares and income in sterling.

It really is not rocket science. When Sterling decreases in value then what you can buy with your sterling income also decreases. Can you really not understand that ?

[David]

All other currencies are down against the £ except the Turkish lira is this because the Turkish economy is in such a bad state ?

[waz-24-7]

It disturbs me somewhat that the anti European brigade on the forum are so quick to blame the EU for just about everything wrong in the UK. A real belief that the Uk will be fine and dandy whilst at the same time maintaining a totally antagonistic and almost hateful view of anyone and anything European is worrying. It is this group of people that appear happy to take Europe back into the grey days of 1914 - 1918. I fear the said group of people fail to see that security together with peaceful cooperation and unity are real positives for the proliferation and continuation of mankind.

[waz-24-7]

All other currencies are down against the £ except the Turkish lira is this because the Turkish economy is in such a bad state ?

Yes indeed.
Turkey, given the recent turmoil, attacks and poor security. has had a rough ride. Negative effects on its economy has led to decline in attractiveness of its currency
Investors will not entertain such uncertainty and risk.
Money is going elsewhere into economies where risk is lower and a profit is more certain.

The major world currencies remain quite strong against sterling. Sterling remains weak and is likely to get worse during coming months as BREXIT unfolds.

[erol]

All other currencies are down against the £ except the Turkish lira is this because the Turkish economy is in such a bad state ?

In 2016 Turkey went through a failed coup d'etat, countless terrorist atrocities, shot down a Russian fighter Jet, took in over 3 million refugees and is fighting a war on its own boarders. The lira has fallen pretty much the same amount vs major currencies as Sterling has in that same period.

[turtle]

As much as you want to deny reality turtle the simple fact is a 20% decrease in the value of sterling affects everyone who has income that is in sterling. It is not just that one pound today buys you less Euros or Dollars than a year ago, it means that one pound today pretty much buys you less 'anything' today than a year ago, less petrol, less electricity, less food, less defence, less healthcare and on and on and on. This is true if you have sterling income and live in the TRNC and it is true if you have sterling income and live in the UK. There is differing degrees of delay as to how quickly the decrease in the value of sterling filters through to retail prices depending on numerous factors but the effect is inevitable and unavoidable. The only way such a decrease in Sterling could not affect people with sterling income is in 'things' in which the UK is entirely 'self sufficient', things where all the 'inputs' - raw materials, plant and equipment, power and energy - are themselves priced solely in sterling, which in reality means practically nothing.

The effect of the massive decrease in the value of sterling since we voted to leave the EU has and will continue to directly affect negatively everyone who has income in sterling. The boost this decrease in sterling gives to the stock market only directly affects positively those who own stocks and shares and as such is a smaller number of people than those with income in sterling and generally the 'better off'. Those who have income in dollars and Euros and who also have UK stocks and shares are benefiting more than those who have such stocks and shares and income in sterling.

It really is not rocket science. When Sterling decreases in value then what you can buy with your sterling income also decreases. Can you really not understand that ?

Erol
Wind your neck in for gods sake man.
You and your cronies would have us believe that this is the first time that Sterling has ever crashed against the dollar…it’s a serial crasher tell all our readers about 1985 & 1992 and again in 2009 but do you know what……yes it recovered stronger than ever and that will happen again.
With all the brains popping out of your head anyone would think you would working on Threadneedle St or Wall St but you’re not are you…so stick to selling internet to disgruntled customers.

You will use any negative against Brexit because like the rest you simply can not accept the result of the vote … well that’s tough it’s happening and yes the pound will slide again tomorrow after Mrs May (hopefully) says it like it is and we can get on with the job of getting out.

[waz-24-7]

Turtle.
You are in part blamed for the decline of sterling. Surely you can accept that. You essentially voted for it . I for one hold that against the BREXIT separatists. The result of the referendum is accepted but I really question the motives of separatists who have inflicted economic damage and possibly more importantly have undermined the greatest and most important peace and cooperation protocol that the modern world has ever seen. I sincerely support the European constitution and its objectives. Fortunately those that attempt to destroy that noble objective are destined sooner rather than later to depart this mortal coil.

[turtle]

Waz, you can hardly blame me if you are wedded to an unstable, very expensive to run crumbling organisation.

If it wasn't Brexit today it would have been one of the others tomorrow, the EU is hated by many in all the countries that are members so stop kidding yourself it is a much loved organisation.
It has been warned to change its ways but arrogantly refused to listen so if blame is to be apportioned look a little closer to home.

[erol]

Erol
Wind your neck in for gods sake man.

With as much respect as I can muster I suggest you try looking in the mirror.

You and your cronies ...

I have no cronies. I have my views and opinions just as you and everyone else does.

With all the brains popping out of your head anyone would think you would working on Threadneedle St or Wall St but you’re not are you…so stick to selling internet to disgruntled customers.

Is that a counter against the point I am making, my argument, or is that just an attempt at an attack against me as a person ? Really I would like you to consider this question, genuinely.

..would have us believe that this is the first time that Sterling has ever crashed against the dollar…it’s a serial crasher tell all our readers about 1985 & 1992 and again in 2009 but do you know what……yes it recovered stronger than ever and that will happen again.

I am not, unlike you, making predictions about the future. I am pointing out one of the consequences to date of us voting to leave the EU and doing so primarily in reaction to your attempts to ignore or dismiss or write off this consequences that has already happened.

You will use any negative against Brexit because like the rest you simply can not accept the result of the vote … well that’s tough it’s happening and yes the pound will slide again tomorrow after Mrs May (hopefully) says it like it is and we can get on with the job of getting out.

Again I suggest a mirror. If you are saying - yes sterling has crashed as a result of the referendum vote and yes that has and is and will as long as it continues result in negative impacts on ordinary people, but it is a price worth paying in order to leave the EU, then I would have some respect for that point of view. Yet from where I am sitting this is not what you have been saying at all. It seems to me you have been claiming that the fall in sterling to date is inconsequential, has not and is not affecting ordinary people to any material degree and that you can not even understand how anyone could suggest otherwise. In short it seems to me that you have been and are doing exactly what you accuse me of doing in reverse, though my personal opinion is that from the evidence of what we have respectively posted you are doing it way more consistently and vigorously than I am.

If I believe that to date the effects of the referendum vote have been mainly negative on myself and 'ordinary people' in general, as I do, then I will say that as plainly as I can and try my best to explain why that is my view. No amount of personal attacks, or vitriol or being told to wind my neck in will stop me from doing this. Boredom, tedium, frustration - these may lead me to choose to no longer share my views here on this subject, but that will be my choice not yours. I will not be 'brow beaten' in to doing so. You may not think that 'brow beating' is what you are doing and it may well be that from your perspective it is not what you are doing but I can tell you as fact that is how it feels to me sitting here.

[turtle]

Is that a counter against the point I am making, my argument, or is that just an attempt at an attack against me as a person ? Really I would like you to consider this question, genuinely.

I have genuinely considered your question and to be honest it's just your condescending retorts that gets up peoples hooters,

I am not, unlike you, making predictions about the future.

Please tell me what predictions I have made ?

If I believe that to date the effects of the referendum vote have been mainly negative on myself and 'ordinary people' in general, as I do, then I will say that as plainly as I can and try my best to explain why that is my view. No amount of personal attacks, or vitriol or being told to wind my neck in will stop me from doing this. Boredom, tedium, frustration - these may lead me to choose to no longer share my views here on this subject, but that will be my choice not yours. I will not be 'brow beaten' in to doing so. You may not think that 'brow beating' is what you are doing and it may well be that from your perspective it is not what you are doing but I can tell you as fact that is how it feels to me sitting here.

The problem is Erol with respect you find it incredibly difficult to accept anyone who disagrees with you, if you think that is browbeating then perhaps threads like this may be a bit too much for you...

[turtle]

Oh and by the way please let people answer a question when asked rather than jumping in and answering for them....it is rather rude.