My currency is fucked.

[billyskank]

http://www.guardian.co.uk/business/2009/jan/20/pound-sterling-dollar-low

Choice quote: 'Jim Rogers, the veteran US investor, claimed the UK economy was "finished".

"I would urge you to sell any sterling you might have," Rogers told Bloomberg. "It's finished. I hate to say it, but I would not put any money in the UK."'

Looks like any visit to the US might be out of the question. My money is rapidly becoming worthless.

:(

[JCMach1]

1. It's ok billy... will come visit you over summer if you like now that I won't have to take out a

mortgage to get a hotel room in London.

[billyskank]

2. You'll be able to do what you like for cents

Though there may not be anything to do when you get here. It may get ugly.

[JCMach1]

3. In all seriousness the last time I was in London for anything but a fly-through

I almost died from the expense! The only bargains were the tube (get the multi-day passes) and the British Museum (free).

It was awesome in some ways because we had the tube and sites to ourselves (it was just days after the bombings) :(

[supernova]

4. Oh, it's not double the dollar anymore, so the pound is "worthless"?

:P

Aww, they aren't urging you to dump the pound are they?

Besides, the UK will be cheaper for us now, when it's been really expensive the last several years.

[billyskank]

5. I'm fucking serious

When people say the UK economy is "finished" I get scared.

But I don't know why I posted that here. I should have known no-one would give a shit.

[Ediacara]

6. Nine cents in one day

Dang......

But then again, six months ago USD was worthless, and now it's rebounded tremendously, so this may not be permanent.

[billyskank]

8. Everywhere I see businesses shutting up shop.

I have a job now, but how much longer? It's getting fucking bad.

[mwooldri]

7. Hmmm... looks like I have to repay my UK student loans this year :(

I had the old style UK student loans... if you made less than $X amount, you didn't pay that year. If you made more than that, you paid.

Last year thanks to $2 to £1 although I made $38,000 pus about $6,000 in bonuses, I made below the threshold.

This year, if the £ doesn't go to something like $1.70 to the £ then I'm in repayment time.

I just wish I could roll the UK loans in with my US loans.

Mark.

[billyskank]

10. I don't know what's going to happen.

We had an economy built on debt, but not a reserve currency that the Americans or the Europeans have. We're caught with our pants down and no-one is going to bail us out. They'll throw us to the wolves.

[mwooldri]

48. I've just looked at $ vs £ over the last 10 years.

The £'s been this low before (2001/2002)... but what's different this time is the sudden drop.

If the £ just goes to 1.30-1.40 territory we're OK...

If the £ goes 1-1 it's trouble. If it gets worse... look for Euro membership pretty quickly afterwards.

Mark.

[flvegan]

9. It looks like speculation is causing this.

It'll bounce back. Plus the American dollar will likely be viewed as strong for the next little bit what with the exodus of King Dumbass and the introduction of Obama.

I think it will correct itself. It seems the UK has many of our problems as well.

Hang tight, billy.

[billyskank]

11. Our problems are the same as yours but exacerbated.

Your currency is the reserve currency and people are forced to hold dollars. The euro is similarly strong because of its wide trading area. We are out on a limb, our economy has been built on debt like yours, but now they're going to throw us to the wolves.

[harmonicon]

45. do you think this might make people reconsider the Euro in the UK?

It didn't seem like a great idea the last time that it was brought up, but this might just be what sways public opinion. What's the point of holding onto the pound if it's worth less than the metal it's made from? (I do love the physical make up of British currency though - it's my favourite.)

[crim son]

12. You can aways save your pennies to fy over

and then stay here in icicle hell, for free. :)

[billyskank]

15. Ha, I have a jar of pennies, I'll start adding to it now.

Thanks.

[crim son]

36. Certainly.

I think it would be good for you to see how "the other half" lives. :P

[billyskank]

39. Oh, a research trip?

Be careful what you say... maybe I will take you up on it. :P

:hug:

[deucemagnet]

13. That's it. I'm moving all of my liquid assets into quatloos.

[billyskank]

14. Anything, gold, silver, rocks.

[Inchworm]

16. Hi!

That is all :)

:hi:

[billyskank]

17. Hello

:hi:

[LeftyMom]

18. Things are tough all over, but we'll all be okay eventually.

Currency woes or no, I wouldn't suggest anybody go to that sort of avoidable expense right this instant. Anyhow, as erratic as things are they may look entirely different in a few months- currency markets are erratic even in good times, for reasons I don't think even the experts really understand all that well.

[billyskank]

19. The "experts" are indeed completely clueless

But everything they do seems to turn out unerringly badly.

[LeftyMom]

23. Probably because they suffer from delusions of competence.

*sigh*

[siligut]

20. Do not panic.

Sit tight. Be careful with spending, of course, but no one wants your economy to crash and burn. :hug:

[billyskank]

21. It was full of hot air.

We don't make anything any more, and it was all pumped up with credit. Like your economy is. Except that lots of foreigners are forced to hold dollars, and so have an incentive to stop you crashing. No-one has such a reason here. Now the bubble has burst we are seeing the true worth of our nation, and it turns out to be very little.

[no name no slogan]

24. We need to set you guys up with an empire again

Once you get a few resource-rich, easy-to-exploit countries under your sway, you guys will be stylin'.

And once we get out of Iraq, we'll have all these extra weapons laying around, so we can help you kick some ass.

Belgium and Iceland better watch the fuck out around you guys.

[Inchworm]

25. ok.. that was funny to me

:rofl:

and I feel evil :D

:rofl:

[no name no slogan]

26. Yeah, I feel bad about dissing Iceland

But Belgium can kiss my fat American ass.

[billyskank]

28. Yup. We're going all Iceland.

Sucks to be us (and the Icelanders).

[no name no slogan]

33. Yeah, Iceland is really expensive

Especially drinking in the bars. But at least you've got some wicked geothermal ponds and such.

[billyskank]

27. That's probably the whole problem.

The upper reaches of the establishment *still* haven't got over the fact that we're not an empire. Really what we could use is a good arse-kicking like Germany got. Teach us that we're not so wonderful, we're not a great power, and maybe we could concentrate instead on making stuff that people want.

Though not sure how well Germany are doing either, now that no-one here has any money to buy their cars any more.

[no name no slogan]

31. I see a lot of the US in the UK, and vice versa

In many ways, the US is like the UK was right before WWII. We both were overextended and had large, global empires that were difficult to manage without excessive use of force. The only difference is that the US has more physical, natural resources due to its size, and therefore doesn't need to rely as much on diplomacy to get what it needs from the rest of the world.

And both the US and UK remind me of the declining days of the Roman Empire, too. We're both waning superpowers but we haven't quite realized yet that the rest of the world is moving on, and that we're no longer the only show in town.

The next decade will be strange for both our countries.

[Parche]

22. so you cant buy bread?

:rofl: :hi: :hug:

[billyskank]

29. Today yes. Tomorrow, who knows?

[BarenakedLady]

30. That sucks

Sorry. :(

[billyskank]

32. Yup.

I don't know what's going to happen.

[BarenakedLady]

34. Neither do I

:hug:

[billyskank]

40. Oh well, gotta keep on.

Going out dancing in an hour or so. At least that still only costs a fiver. :hug:

[Taverner]

35. I don't understand?

The UK seems to be doing well -

Do you really think its finished?

[billyskank]

38. No, it's fucked.

The price of petrol has already started to creep up again, even though the price of oil keeps coming down, the pound is going down more. Our economy is a sham and now everyone is noticing.

[Taverner]

42. Oh fuck

That is not good

[hunter]

37. The dollar and pound are like two drunks propping one another up.

One falls down, so will the other...

[billyskank]

41. Gotta go.

Got stuff to do, stuff that doesn't cost money, natch.

[ScreamingMeemie]

43. I have a row boat you can borrow...

and a place to stay.

[harmonicon]

44. I'm with you there

I have loads of student loans in dollars. I thought about moving a few thousand pounds into dollars this summer to pay back a big chunk of the loans, but figured I'd wait, because I thought I should have money around for an emergency. Big mistake. Now I might as well spend that money on sugar and drugs, for all it's worth.

[Deja Q]

46. 1.39GBP to 1.00USD, you still have something of an advantage...

So do I; ordering all those UK DVDs is no longer the crushing 2:1 it once was. The properly remastered "Space 1999" year 1 set is 75GBP for you, 104USD to me.

Ouchies. :(

OTOH, it just dawned on me it was 2:1 and therefore a real advantage if you liked to travel... :dunce:

May things get better in the UK. I just recalled the typical exchange rate was 1.7:1 - 1.39 really is low...

[madrchsod]

47. ya right....jim`s full of shit