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Airhead

Member since Oct 2010 • Last active Sep 2022
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  • in Miscellaneous and Meaningless
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    Thatchers first recession was ignored by the electorate.

    Were you alive during this period? There are people still ready to dance on her grave. Investment income tax was at 98% before Thatcher. That's why they kept getting elected, they reduced personal tax.

  • in Miscellaneous and Meaningless
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    Interesting though that we've been seeing recently more acutely that governments job is to protect the market place. Industry has to function within the protection it's given. The cost of the protection depends on the capacity of the government to solve problems and recently they've been really bad at that.

  • in Miscellaneous and Meaningless
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    Yes, big picture we have been allowing investment in the country which we then devalue by one means or another. QE on an international scale is like musical chairs though. Someone big is going to fail to make repayments and won't be able to cover it up sooner or later.

  • in Miscellaneous and Meaningless
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    I do wonder a bit about how this plays out but surely there are discussions ahead of the kind of announcements made which lead to conversations with the Treasury and given that they will have strong beliefs about what the announcements will create in the markets they then go ahead forewarned and prepare a strategy (i.e. short the pound in some way).

    Certainly this was what Carney alluded to around the Brexit referendum.

  • in Miscellaneous and Meaningless
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    Being a bit pedantic

    I would expect nothing less from you 😉

  • in Miscellaneous and Meaningless
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    You only really have a ledge and brace door for economy of materials and low cost of manufacture. Hacking that into an insulated door with more labour and materials is fine unless you introduce any traps for moisture.

  • in Miscellaneous and Meaningless
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    It's all a bit up the ladder/down the ladder but we have needed to reverse the direction of the trade deficit for quite a while and part of what we're seeing now are the consequences.

    Higher oil prices and a weak currency should affect imports as they will become more expensive where goods manufactured in the UK will become more competitive with imports and our exports may start to look cheaper.

    For example we've been selling ships and stuff to France and Germany. The cost of the oil to deliver them is not such a big part of that deal. If you are negotiating with Rolls Royce for supply of engines and your alternative engine supplier is pricing in dollars with a contract potential lasting ten years you now might favour the Rolls Royce option.

    Really we could separate the big business of import/export from the aliexpress/amazon type goods.

    Another point worth bearing in mind is the treasury doesn't just sit on it's hands. They hold very large quantities of foreign currency to hedge the markets.

  • in Miscellaneous and Meaningless
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    UK exports have declined compared to several years ago.

    Yes, that's part of the balance that needs redressing. A weak currency helps as long as the materials are not imported, which of course they are largely.

  • in Miscellaneous and Meaningless
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    That can happen if doors are really tightly fitting. Usually it's enough to move the lock keep back 1mm or so, easy enough to achieve if you're used to it but can be a pain. I've just found them the most effective.

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