Single Status Update
Decided on what rifle to get next, but the pound is doing terribly against the Euro. Going to have to hold off for now and hope the exchange rate gets a little better... But there are only 2 left in the entire EU!
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Well, since you went there, Sterling has been over-valued for decades.
Here's our 10 year balance of trade. Note that in February this year it was over £7 billion, just in one month - the wrong way.
That reflects money leaving our economy, and ultimately it only comes back in when DeM MusLaMiCs (or the Russians and Chinese) purchase up our infrastructure for rent-seeking purposes, which just leads to even more money flowing out.
Those of us who work in exports (you're welcome) would like to see Sterling come down a fair bit yet to make us more competitive in a global consumer market that values low price over high quality.
It doesn't have to be that way: historically we've had period of trade surplus.
I'm sorry if the long overdue correction to Sterling makes toy gun purchases or booze cruises in Shagaluf more expensive, but it's an inevitable result of living in a high cost, high tax economy with an inflated currency.
Also, send 'em all back, mine the channel, mandatory gammon three meals a day, and so on.
@Rogerborg I am aware of that. Interest rates have been artificially low for a very long time to try and increase growth, but it's just not effective anymore and we are trapped as an economy.
In terms of buying a toy gun, this is still a good time to buy... so we'll see.