UK Pound needs further massive devaluation (10Mar10)

[hskoolman]

Yes, the pound is overvalued, and yes a low pound could help us export (if we had any industry to do the exporting, which we don't - we a service country). BUT BUT BUT... everyone is forgetting that Oil is priced in Dollars when the pound devalues the price of Oil and fuel will rise. With a GBP-USD at 1.20 its going to feel like Oil is $115 per barrel! Ouch. And add to that 20% spending cuts across the board, plus loads more unemployed as a result...we're being sucked into a black hole.

[somename99]

The gumpff in the sidebar is painfully wrong. One of the major reasons for the decline of UK manufacturing was the high interest rates pursued by the Tories to keep sterling overvalued for the City of London and to try and prevent housing bubbles, because they were too short sighted to sort out the housing market (not that labour were any better in this regard)

And yes sterling does need devaluation, it has been overvalued for decades.

[jhunted7667]

you have to remember something about devaluating your currency , it will help trade by making your products cheaper for people over seas BUT YOU ALSO MAKE THINGS MORE EXPENSIVE FOR PEOPLE AT HOME,, , I feel for you I'm in the US we are having problems here too but you must remembeer these collapses were engineered to steer us into a cashless society eventually , which would be to our detriment and eventual moral and economic collapse for all countries

[JesseKantstopolis]

Does this guy live with his parents? How can someone that stupid provide for themselves?

[0muffins0]

We are so screwed.

[BloodguardGorak]

The government borrowed £4.3 billion last month. So Brown is saying he is going to reduce public spending by over £2,150 million per month. At a time when corporate UK will be protecting shareholders profits by increasing the price of water, petrol, Gas, insurance, interest rates etc and cutting jobs. And while the £ is being devalued too making imports more expensive.

However he does have a solid immigration policy.

[atwali]

A currency expert that parrots the governments "we must not cut yet?" Whats next? Adam Smith on Most Haunted telling us Gordo is right. Honestly, they should rename this country Lalaland! ...Now on BBC1 over to the 6 o clock tellie-tubbies, who'll talk about what today's weather was like, god forbid its over an inch of snow or heavy rain cos that will take half the bulletin followed by Sports Relief mince and various sportsmen's indiscretions. Oh and finally the pound is buggered. Ffs! @(

[loveEUROPEhateEU]

This is just a euro stunt... Fuck Nu Labour.

[karuspery]

And this from the man that said"NO MORE BOOM AND BUST!"

[dikkydoo1]

hey i have an idea devalue the pound another 90% so we are then cheaper than china! the only problem is that no one will be able to afford to eat, but hey it dont matter cause the banks and exporters will be happy and thats all that maters!

[quinndexter]

Where did they get this currency expert from. The local college?

[MODTRASH]

Anglophobe!