It does?

Surely the printing of more money is why the pound has fallen in values from £1 – $4 to todays rate over the last 50 years ( or from £1 – 40 Deutschmarks to £1- 2.48DM before the Euro).

Richard Murphy says:

Printing money is not in the slightest the issue

The relative value of the currencies reflects differing productivity

Gosh. So, if we start with £100 and $100 and end up with – with no change in growth, productivity, anything else but ceteris paribus – £200 and $100 then the currency values won’t change?

Rilly?

But note the far more interesting policy prescription from Snippa’s insistence. In order to increase productivity we should be more like the US. As that change in relative currency values must be based upon the past changes in productivity…..

19 comments on “It does?

  1. We have not printed money we have borrowed money form ourselves you might say but only Brexit charlatans desperate to cover the damage they have done to the country want us to write that debt off and thereby undermine all fiscal targets
    The Pound has dropped since 2016 for the bleeding obvious reason that we have committed an act of economic self harm to keep cretins from Grimsby free for the terrifying prospect of German Teachers and French Bankers arriving to share their kebabs anti depressants and fat orange wives.
    Overall what we need is a new system . There is no party which favours business Antlanticist foreign Policy free trade and Liberal values we have the wet Nazis versus the loon Commies .
    I would rather watch professional wresting and at this oijt I`ll vote fro anyone who is working to change the shitty stupid corrupt system

  2. Violet Elizabeth Newmania reveals his middle-class sneering snobbery yet again. Not sure who is the bigger twat, Newmania or Murphy.

  3. Capt. Potato is wrong again but by a mere >fourfold order of magnitude.

    The GBP/DEM spot rate 50 years ago was 8.8830 and not 40.

    Of course, relative interest rate differences between currencies influence the exchange rates between them as any fule kno¹

    – – – – – – – –
    ¹ Terms and conditions apply. Elynomics may not comply with general principles.

  4. “The Pound has dropped since 2016 for the bleeding obvious reason that we have committed an act of economic self harm to keep cretins from Grimsby free for the terrifying prospect of German Teachers and French Bankers arriving to share their kebabs anti depressants and fat orange wives.”

    Obviously Mark Carnage should take most of the blame but I never knew he had a fat orange wife

  5. But note the far more interesting policy prescription from Snippa’s insistence. In order to increase productivity we should be more like the US.

    I think he’s got that part wrong as well. You don’t need to be more ‘Merican (it’s probably beyond you anyway), just less British.

    Want a useful starting point? Stop elevating politicians who threaten to nationalize at the drop of the hat. Better yet, why not revise the law to forbid nationalization at the drop of a hat.

    It’s hard to get capitalists and businessmen excited about setting up shop in a place that forever seems to want to steal other people’s stuff every decade or so.

  6. Oh that’s why grandad semtex wants to plant 2 billion trees. He really does think money grows on them.

    I trust we’ll have a suitably diverse selection. Palm trees, coconut trees, redwoods, bananas etc.

  7. To be fair to the cretins of Grimsby I doubt they give a flying fuck about French bankers and German teachers but show them a Spanish fisherman and they might be a bit less generous.

  8. Grimsby-Immingham is the biggest port by tonnage in the UK. Good job we have some ‘cretins’ to operate it.

  9. Howja like my elevation, privileged white boy?

    You didn’t build this country, anyway.

  10. Am I the only one who has actually read Labour’s manifesto? Or are you just numbed to the point that you think it doesn’t mean anything?

    Labour wants to nationalize swaths of telecom, energy and transportation. At prices “set by Parliament “. You know, there is a bit of a correlation between investment levels and productivity levels. And maybe I’m reaching here, but I suspect investors will look elsewhere when the Sword of Damocles is ready to be presented to them by Labour, and will continue to look elsewhere even if Labour loses.

    Has this escaped you? Or has your collective inferiority complex left you helpless in the face of a septic being the one to point this out?

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