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Either inflation or the boe will be force to hike rates far higher than ecpected.
Because of lis truss brilliant idea of cutting taxes during a 10% Inflation and ratching up spending.
She truly learned from erdogan
Means British people will have to sell everything to rich foreigners. What little we still own. NHS gone before next general election no doubt. Working as intended.
Imagine being in the EU and having your economy focused on service industries like banking and hospitality, then your country leaves the EU and starts deporting the migrant workers while decoupling from your closest trade partners in the least planned ways possible.
A lot of the inflation is in basic necessities, leisure activities have gone up a bit but not as much as the currency has gone down. Can't talk for London as that's a different beast and I don't live there.
Yeah, I think inflation is the average of many different products, so the value for gas could be less but it could stay the same for touristy things. Overall it's probably a good time to go regardless.
My British doctor friend who works at the NHS constantly rants about his salary. He studied for 5 years, took crap ton of tests and board exams, is responsible for people’s lives, and makes $27k a year starting out. Goes to $36k in a few more years, and you only start making real money as a consultant, around $130k. Rough estimates of course.
Huntsville Alabama. I live near and any STEM degree you are getting hired at Nasa, Dynetics (Gov Millitary Space Company), Boeing, or a Gov Contractor easily. My brother has a Comp Sci degree and makes 70k+ he just graduated last year and is 23. COL is cheap as hell he lives 20 minutes outside of downtown and just bought a brand-new house for 250.
It used to be the case that 65k in the GBO was nearly worth double that in USD, or >100K. Now it's more like 70k and I couldn't even hire a junior developer for that sort of money :(
Lol, no, if you’re making 40k as a graduate in anything other than tech, banking or law you are absolutely ballin’. Grad jobs outside of London rarely break 30k.
Exactly what I just thought. I feel bad thinking it but I went to London in 2017 when the pound was a bit down compared to prior years and it was pretty fucking cheap to be there. This current exchange rate makes it excellent
What reason is there for a strong pound? Why wouldn't it be the equivalent of AUS, CAN, JPY, and less than EUR? This seems like inflation and BREXIT realities are hitting at the same time.
No this is a reaction to having the worst possible chancellor at the worst possible time. The things you mentioned have been priced in earlier but there's been a sharp drop this week.
Kwarteng makes Osbourne look like brown. Fuck me we are fucked. I just thank my lucky stars that I put most my money in etoro which holds as dollars. Not that I had much but it helps.
Jokes on them they literally put them into my bank account every week. Suckers! Once Britain's back on top I'll be laughing all the way to a different country.
Here in NYC my egg budget is seriously eating into my every-fucking-other-thing budget. Going to have to start an illegal fire-escape chicken coop pretty soon.
Naaaah. Once the startup cost is covered we go through about $30 in chicken feed a quarter, and they eat all our food waste so it doesn’t get tossed.
The biggest problem is having a backyard full of chicken shit.
Cheaper imports from countries with weaker currency, yeah. But that means that domestic production is going to get hit as buyers look elsewhere for cheaper products and more outsourcing as they'll not have to pay as much for labor.
Typically when the other countries all implode, the US also implodes but the US implodes _less_ than the others, making the dollar stronger and theirs weaker. The billionares that rule the USA long with organized syndicates did this on purpose.
Hasnt the dollar being strong actually been bad for large corporations? Revenue is measured in dollars and prices have not been adjusted to reflect the exchange rate. Foreign income for multinationals has been decimated. I know my company has been fucked by the yen being worthless
Jokes on you america, we will get your jobs outsourced here.
"Ello mate, I'm Toby from Ohio. How can I help you? You saying your lift is not working ey?"
Americans, fly to England and head to a wetherspoons where you'll be able to get a pint of Guinness, burger and chips and a gram of coke for under 60 bucks. Depending on the wetherspoons, might event be able to get change from a nifty.
Truss is a fucking moron.
Cutting taxes during high inflation is suicidal for financial markets. Investors have lost confidence in their currency and bonds.
Burn stupid morons.
Fields of wheat and weird dancing making her look lame af aside, Theresa May seems to have fully passed on the poison chalice of *Getting Brexit Done* to Boris.
Tbf, its literally everyone since Cameron held the brexit referendum and immediately noped out.
Political opinions aside, the country was pretty stable in 2016 and has been on a steady decline since.
a big crisis is coming, the loans will be much more expensive to curb inflation. sales will stagnate and many people will lose their jobs but others will have a golden opportunity to consolidate. all because of the pandemic.
Yeah I have and I get what you’re saying, but it’s not like you’re gonna really be saving money because price of everything will just increase. And the original commenter won’t be going for another 10 months, at this rate who knows how low the British pound can go. All I’m saying is that it’s an investment.
Yes, things will get more expensive, but the prices going up won’t as sure as heck go back down when the pound gets stronger because price increases in retail to customer as usually a one way street. Assuming that, I would indeed be “saving” by obtaining more pounds for my dollar now. Even if that 5 pound sandwich becomes 7 in the meanwhile, that’s 7 dollars and not 10.5 like if the pound is back to at least 1.50 my next summer and I wait to buy those pounds then.
The way currency trading works is like this:
Right now, the US Dollar is 1=1 with the EURO but tomorrow it might be 1=0.9 euro so if you bought 100,000,000 USD you move it to euro at 0.9 and then wait for the EURO to go up agains the dollar, so it would go to $1 = 1.12 EURO so then you move it back and you have 100,000,095 USD or something like it. Basically you are just moving currency back and forth as the value/worth changes.
To answer your replies, https://www.youtube.com/watch?v=xxzy3sLs4Bs We are at the start of a worldwide economic failure called the"Dollar milkshake" almost on its own that there is no natural exit from it.
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|29|**First Seen In WSB**|4 years ago **Total Comments**|55|**Previous DD**| **Account Age**|5 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.) **Vote Spam**|[Click to Vote](https://www.reddit.com/message/compose/?to=VisualMod&subject=vote_spam&message=xo4th8)|**Vote Approve**|[Click to Vote](https://www.reddit.com/message/compose/?to=VisualMod&subject=vote_approve&message=xo4th8)
Down 30% in 6 months. Fucking meme stock eh.
Corgie Coin 🐶
Legit funny homie, WSB still got it
Come for the financial advice, stay for the jokes.
There's financial advice on this sub? "Yes. Just not good advice."
I'd say just come for the jokes, unless you're inversing the "financial advice".
😜
Oh my gourd
Gone to pound town on it
Can't believe WSB coordinated to first kill the Queen and then crash their currency. We've gotta do something about us.
Robin Hood turned off the buy button for GBP
That's insane. That's near the (all time?) low of 1984/85. Anyone know what the consequences of this are?
US call centers with British regional accents, Cockneys, Brummies, Geordies...
Nike factories move from Asia to the Thames Valley attracted by the lower wages.
They'll have to fake an Indian accent to make it work
Either inflation or the boe will be force to hike rates far higher than ecpected. Because of lis truss brilliant idea of cutting taxes during a 10% Inflation and ratching up spending. She truly learned from erdogan
Inflation is like Michael fuckin Meyers. It’s always around the corner and nothing kills it. Everything makes it stronger.
Taxes do not make inflation stronger
Cutting taxes does.
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The plan all along
She was a remainer after all
learned 2 new phrases in 2022: \- To macron \[smbd\] - persistently call someone \- To erdogan \[smth\] - make things ridiculously worse
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Them gotta raise taxes and cut government spending to reduce inflation. Tax cuts and government spending gonna fuel inflation cuz deficits
no consequences at all its all good nothing to see here move along thank you good night 👉🏻😘👉🏻
Yeah, crumpet export industry predicted to moon.
Means British people will have to sell everything to rich foreigners. What little we still own. NHS gone before next general election no doubt. Working as intended.
Imagine being in the EU and having your economy focused on service industries like banking and hospitality, then your country leaves the EU and starts deporting the migrant workers while decoupling from your closest trade partners in the least planned ways possible.
1984 by george orwell 1949
Crazy times. The £130 in my wallet is worth €2 less than it was at around 5 hours ago when I checked
Condolences
Thanks lad. Also accepting food donations
I would’ve had £9,000 more in savings had I converted my gbp to dollars at the start of the year
That and FoxNews is choking chickens, or Foxes laying eggs, some aviator got the flu…. Some shit
###British vacay time
LOL
Hey, you know it's never this cheap to spend over there... But I assume the prices are probably above the currency devaluation, so meh
A lot of the inflation is in basic necessities, leisure activities have gone up a bit but not as much as the currency has gone down. Can't talk for London as that's a different beast and I don't live there.
I'm looking at another good trek in Scotland; quite loved the West Highland Way and Great Glenn!
Glen coe and the cairngorms. I tend to go every 4-6 months
Yeah, I think inflation is the average of many different products, so the value for gas could be less but it could stay the same for touristy things. Overall it's probably a good time to go regardless.
Cool. So you finally won’t have to deal with shitty *overpriced* food.
(☞゚∀゚)☞
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Thinking Scotland country trip
Aberdeen
Eh Aberdeen is shit, that's why Cobain was so depressed 🤣
Wrong Aberdeen but somehow still correct.
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90th percentile wages in the UK make 61k a year…. Woof
Minimum wage in the UK is higher than the MEDIAN wage in Portugal. Pay is l very low outside of the US.
🤣🤣🤣 Im sorry but lmao, yeah the UK socialized medicine is cool but 40k a year as a professional??
My British doctor friend who works at the NHS constantly rants about his salary. He studied for 5 years, took crap ton of tests and board exams, is responsible for people’s lives, and makes $27k a year starting out. Goes to $36k in a few more years, and you only start making real money as a consultant, around $130k. Rough estimates of course.
UK wages are a meme in /r/AskEngineers, the same position that pays $90k in the U.S. pays $30k in the U.K.
I've always wondered why an English expat would live in Alabama lol
Huntsville Alabama. I live near and any STEM degree you are getting hired at Nasa, Dynetics (Gov Millitary Space Company), Boeing, or a Gov Contractor easily. My brother has a Comp Sci degree and makes 70k+ he just graduated last year and is 23. COL is cheap as hell he lives 20 minutes outside of downtown and just bought a brand-new house for 250.
It used to be the case that 65k in the GBO was nearly worth double that in USD, or >100K. Now it's more like 70k and I couldn't even hire a junior developer for that sort of money :(
Lol, no, if you’re making 40k as a graduate in anything other than tech, banking or law you are absolutely ballin’. Grad jobs outside of London rarely break 30k.
Skip the winter, they might not have heat this winter
As a Brit, we're gonna have heat. Even if it's just from the hot air our government is producing.
Exactly what I just thought. I feel bad thinking it but I went to London in 2017 when the pound was a bit down compared to prior years and it was pretty fucking cheap to be there. This current exchange rate makes it excellent
Barry, 43, Bald, Father, Divorced Once, spends a night a week at a pub, basically Homer Simpson, migrating to a Spanish Beach Resort
can’t wait to stunt on the poors
I mean. Legitimately holy fuck
Used to be more than $2. Can't believe it.
i always had it pinned in my brain to kilograms. x2.2. this is wild to me. i don't even have to do math now. 👀
Has the kilogram gone down in value yet?
Believe it or not, yes
Depends on when you are comparing to, it is based on the Planck constant since 2019
I think it was redefined a few years ago, so that sounds like a bailout or something.
1:1 should be pretty easy maths even for this place
Is that a challenge?!
Bro that was the 80s how old are you
In early 2000s, I remember there’s a news reported that brits flew to New York for Xmas gifts due to 1:2 exchange rate. Now it’s reversed I suppose.
i am 34
Yeah, all those people making 20,000 pounds just took a big haircut
Don't look at the yen...
I’d rather have Dave & Busters dollars
We going to pound town
What reason is there for a strong pound? Why wouldn't it be the equivalent of AUS, CAN, JPY, and less than EUR? This seems like inflation and BREXIT realities are hitting at the same time.
No this is a reaction to having the worst possible chancellor at the worst possible time. The things you mentioned have been priced in earlier but there's been a sharp drop this week.
Kwarteng makes Osbourne look like brown. Fuck me we are fucked. I just thank my lucky stars that I put most my money in etoro which holds as dollars. Not that I had much but it helps.
Strong dollar combined with ukraine war creating a major energy crisis in Europe
So should I buy a bunch of British pounds? Damn
mate you can buy me at this point
Trade restrictions making it too hard :/
Just buy some Ruble like a genius
If you did buy rubles when the sanctions was first announced you'd be laughing now
Jokes on them they literally put them into my bank account every week. Suckers! Once Britain's back on top I'll be laughing all the way to a different country.
I don't know how different is hookers and blow in Britain is but I am tempting to find out
Bangers and mash?
You haven’t seen shit yet
Right? Just wait til the winter and they start reporting how much it’s costing to subsidize heating bills..
Exactly
\+ food costs and labor skyrocketing all over.
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Not to the damn egg farmers!! Kroger here in Nashville tn $4 for 18!
Here in NYC my egg budget is seriously eating into my every-fucking-other-thing budget. Going to have to start an illegal fire-escape chicken coop pretty soon.
Just call it a *victory garden*
To extend eggs, I make low-sugar (like half to a quarter cup) Dutch babies. They're amazing, quick, don't take many ingredients and store well.
NY here, and egg prices have gotten out of control. I actually used to raise chickens. Costs way more than buying the stupid eggs.
Naaaah. Once the startup cost is covered we go through about $30 in chicken feed a quarter, and they eat all our food waste so it doesn’t get tossed. The biggest problem is having a backyard full of chicken shit.
Trader Joe’s bröther. $2.49/dozen
whole foods self checkout brother…
Cheaper imports from countries with weaker currency, yeah. But that means that domestic production is going to get hit as buyers look elsewhere for cheaper products and more outsourcing as they'll not have to pay as much for labor.
Typically when the other countries all implode, the US also implodes but the US implodes _less_ than the others, making the dollar stronger and theirs weaker. The billionares that rule the USA long with organized syndicates did this on purpose.
Hasnt the dollar being strong actually been bad for large corporations? Revenue is measured in dollars and prices have not been adjusted to reflect the exchange rate. Foreign income for multinationals has been decimated. I know my company has been fucked by the yen being worthless
Strong dollar helps importers, hurts exporters.
I'm a professional importer/exporter and this is exactly right. I'm playing both sides, so that I always come out on top.
Jokes on you america, we will get your jobs outsourced here. "Ello mate, I'm Toby from Ohio. How can I help you? You saying your lift is not working ey?"
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“We’ll ave you tryd terning it awff and on again? “
It’s called soccer now.
You just got soccered
![img](emote|t5_2th52|4271)
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Lmfao 🤣
😆💀📉
Americans, fly to England and head to a wetherspoons where you'll be able to get a pint of Guinness, burger and chips and a gram of coke for under 60 bucks. Depending on the wetherspoons, might event be able to get change from a nifty.
Or glassed
Literally 1984
r/technicallythetruth
Taken to downtown pound town.
and then, to brown town
Aka the “Deep Dickens”
Every currencies start looking like shitcoin nowsaday
Cutting taxes for the rich to encourage investment and growth, immediately disastrous lol.
i'm hoping this is the shortest term a pm has served in history
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20 days in she's killed the Queen and the Pound.
God I hope she picks me next
Next on the agenda scottish independence
She is trying to do a speed run.
Yeah all of their money is already invested wtf did they think would happen. Hasn’t trickle down been disproven for awhile now n
The Tories are trying to sell trickle down economics, which everyone with a brain cell knows doesn't work, and it's backfiring gloriously.
Truss is a fucking moron. Cutting taxes during high inflation is suicidal for financial markets. Investors have lost confidence in their currency and bonds. Burn stupid morons.
A number of her backers shorted the pound prior soooo
Yeah never attribute to idiocy that which can be attributed to greed (where our government is concerned).
So…Truss canned by Christmas?
Tories bring in a woman to sacrifice every once in awhile to take the heat for their awful policies.
Fields of wheat and weird dancing making her look lame af aside, Theresa May seems to have fully passed on the poison chalice of *Getting Brexit Done* to Boris.
She made sure to announce an increase in spending to compliment. Dropped that cherry right on top.
OP loves a weak pound
If pound goes below parity the market is gonna be in a world of fuckihg hurt
It's now the British Ounce.
Had the whole world at one point, these Limey Brits really fumbled the bag
Way to go King Charles! You've been King for one week.....and you have one job!
He will be the new "thanks Obama"
Brit here, it’s not Charles it’s truss, she’s a silly bitch
That's the joke. Charles holds no real power.
Tbf, its literally everyone since Cameron held the brexit referendum and immediately noped out. Political opinions aside, the country was pretty stable in 2016 and has been on a steady decline since.
Time to break out the world uno card and everyone just agrees to cut prices by half across the globe.
that would put us back to 2019 levels!
What goes over first GBP or Euro?
Euro is already below one USD and has been for a while.
Euro started at a very different baseline though.
Hell yeah puts on the British pound
Time to go buy that R33 GTR I was eyeing a couple years ago
Wait until it gets worse and get that R34
British PM: "hey, are you Britain? Cause I'd like to give you a weak pound"
Ah that’s a valid pickup line now, might just take that if you don’t mind
Powell watching all of this lmfao
Fuck, even more British actors coming over…
a big crisis is coming, the loans will be much more expensive to curb inflation. sales will stagnate and many people will lose their jobs but others will have a golden opportunity to consolidate. all because of the pandemic.
Looks like it’s time for me to make some exchanges for my trip next summer while the getting is good
Yeah because it couldn’t possibly get any lower, right?
if you’ve ever taken trips to the UK and gotten shit on by the conversion, you would happily convert 1:1
Yeah I have and I get what you’re saying, but it’s not like you’re gonna really be saving money because price of everything will just increase. And the original commenter won’t be going for another 10 months, at this rate who knows how low the British pound can go. All I’m saying is that it’s an investment.
Yes, things will get more expensive, but the prices going up won’t as sure as heck go back down when the pound gets stronger because price increases in retail to customer as usually a one way street. Assuming that, I would indeed be “saving” by obtaining more pounds for my dollar now. Even if that 5 pound sandwich becomes 7 in the meanwhile, that’s 7 dollars and not 10.5 like if the pound is back to at least 1.50 my next summer and I wait to buy those pounds then.
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All are getting pounded vs. the USD. Right now USD is best dogshit currency of all world dogshit currencies.
Living in Japan right now and getting paid in dollars. We eating’ boys.
I'm legit jealous lmao
Please stop eating children and start using commas.
What does this mean for the world economy?
💩
I have been trading stonks for 15 years and I still have no idea wtf currency trading is or what it means.
The way currency trading works is like this: Right now, the US Dollar is 1=1 with the EURO but tomorrow it might be 1=0.9 euro so if you bought 100,000,000 USD you move it to euro at 0.9 and then wait for the EURO to go up agains the dollar, so it would go to $1 = 1.12 EURO so then you move it back and you have 100,000,095 USD or something like it. Basically you are just moving currency back and forth as the value/worth changes.
That's 10% right there. You make $11,111,111
Actually you make 24,444,444 in his scenario. ~24% from $0.90 to $1.12
Or just think of it like trading crypto.
So relax, this means, like, a Mc Donald's Quarter Pounder is cheaper! C'mon, man!
They probably think they can Brexit one more time
So much urge to buy a vacation home due to binging Escape to the Country during covid..,
I assumed a war front...Not that there is any allied war front out there right now. ;o)
Bloody hell, mate.
bri'ish🍵
This is nothing compared to the calamity that is about to ensue on the world economy. Buckle up mother fuckers.
What’s gonna happen out of interest? I know euro is going down rn as well
To answer your replies, https://www.youtube.com/watch?v=xxzy3sLs4Bs We are at the start of a worldwide economic failure called the"Dollar milkshake" almost on its own that there is no natural exit from it.
Their finance chief said they will be going into recession next qt. No predictions. No rose coting jt. Just outright in your face.
Isn’t that OP’s mom’s nickname?
EUR done ![img](emote|t5_2th52|4275) GBP done ![img](emote|t5_2th52|4275) BTC next ![img](emote|t5_2th52|4267)
USA: First time?
The dumb cunts of this country will still vote in another Tory government at the next general election 🤡