Seeking Alpha

Another decline in the pound (FXB) has it down to $1.4883, the lowest level in nearly 3 years....

Another decline in the pound (FXB) has it down to $1.4883, the lowest level in nearly 3 years. While most are focused the yen, the devaluation of cable is an even more impressive sight. What has changed is the appointment of Canada's Mark Carney as governor (he starts in July). Carney is no more dovish than current chief Mervyn King, but he's perhaps more open to experimenting with new easing measures.
Comments (6)
  • UK and Japan are the perfect Keynesian lab experiments.

     

    Devaluing should fix all of their problems... cures demographics, sloth, inefficiencies, and lack of resources.
    11 Mar 2013, 08:02 AM Reply Like
  • Japan devalued in the 1930's. Great Britain followed. A little later we were all at war.
    11 Mar 2013, 08:16 AM Reply Like
  • Different setup. Japanese does not have the will to wage war. Rhetorics, sure, but they'll need the US to fight their war.
    11 Mar 2013, 08:37 AM Reply Like
  • UK did default on their bonds in 70's . IMF stepped in; not for discovery of oil in north sea what is happening to UK now would have happened long time ago. economically they never really did recover from losing their empire. Napoleon called em a nation of shopkeepers, always liked that one. Still have that class system, A few cos. I think dominate the FTSE market cap wise. Japan's debt has got to be moving closer and closer to 200% of their GDP .
    11 Mar 2013, 09:42 AM Reply Like
  • @june1234,

     

    Isn't that nice? With a 'class system' there is something like a goal post for anyone to swim up to! Besides, how romantic and nostalgic it is be knighted, as one of the chose few of Arthur's Round Table?

     

    Don't you want to be called, like, 'The Lord something'? And to add numerous post-nominals after to your name, extended to the next line with 'Carriage Return'?

     

    Mind you, the Brits are often rumored to view the Americans with disdain as a bunch of 'These let Loose'!
    11 Mar 2013, 10:33 AM Reply Like
  • The pound ceased being sterling decades ago.
    Since then the debasement has continued and will continue until this fiat and increasingly fake currency is extinct.
    11 Mar 2013, 12:07 PM Reply Like
DJIA (DIA) S&P 500 (SPY)