Jeebus Ritchie!

This morning David Cameron’s folly on Brexit has resulted in a 31 year low for the pound against the dollar. I would call that a sterling crisis that is likely to continue.

And I have not caused one.

Maybe that’s why David Cameron has no job and I am still doing mine.

A price has adjusted. This is a crisis?

What sodding crisis? Anyone seen Hammond rushing off to the IMF cap in hand? George Soros cackling as he breaks the Bank of England again?

Umm, no, I don’t think we do. Why is that?

Ah, yes, it’s because we have a free market in the exchange rate these days isn’t it? Free markets sorting out prices of things really rather well.

You idiot, statist, fool.

22 thoughts on “Jeebus Ritchie!”

  1. The Inimitable Steve

    What was David Cameron’s folly? Letting the voters decide?

    £ currently trading at $1.27, which isn’t great news for me, but it’s not awful either – we were there or thereabouts in 2008/9 IIRC. Business goes on.

    It’s good news for exporters though.

  2. never reasons from a price change, as they say, think about what caused the price change. In this case doing something bloody stupid that’s going to make the UK less productive (because trade costs are part of what constitutes productivity)

  3. @TIS

    It’s great news for my place- our invoiced sales for the last quarter are worth c15% more (and my bonus increased accordingly) as we bill in USD and incur costs in GBP.

    Also- Ritchie is primarily self employed. Lunatics tend to take longer to notice deadweight on the payroll, IME

  4. think about what caused the price change

    A good point.

    The pound / euro has collapsed to what had become normality a few short years ago.

    Clearly something is wrong with the euro as well. Any thoughts?

  5. I am amused by the idea that Murphy thins he has the capacity to cause a run on the pound!

    He needs to be studied in Psychiatric journals, I have never heard of anyone with so massively over-inflated an opinion of his own capability….

  6. At a time when central bankers the world over are racing to the bottom looking to devalue their currency, this counts as a triumph.

  7. VP

    Perhaps the constant references made to the Murphmoron here as the “Sage” of Downham Market or Ely inflates his ego to such grotesque proportions that he thinks of himself as some sort of Warren Buffett.

  8. The Other Bloke in Italy

    Like the good Steve (the bad one went quiet suddenly: I suppose his cheques stopped arriving for some reason) I have to eat this as my modest income is in Sterling.

    On the other hand, in a year we might be back to €1.40, and I shall be happy.

    Meantime, good for exporters, and may Murphy’s arse rot some more.

  9. BF

    He has replied to a comment with the notion that apparently Cameron suggested he might have caused a run on the pound – I really can’t be arsed to look it up even. A couple of commentators have said that Tim might be overplaying it with the guy – at the moment I am inclined to agree!!

  10. VP

    perhaps that’s true, but another compassionate view might be that if it leads to the proper result, which is for Murphy to be institutionalised under pharmaceutical care, it will have been in a good cause

  11. There are one or two differences between Richard Murphy and David Cameron although it’s certainly true that Mr Cameron has become rather pudgy of late.

    Restricting the discussion to their respective impact on the UK economy it might be fair to say that the former prime minister made a hash of the EU negotiations and referendum campaign which cataclysmically and spectacularly ended his time in office.

    The prof, for his part, has spent years dribbling nonsense into his blog and elsewhere like a suppurating bag of pus and the markets have not paid no attention.

  12. Luis

    Can you expand on how “doing something bloody stupid that’s going to make the UK less productive (because trade costs are part of what constitutes productivity)” actually works in the situation the UK is in right now, when it already exports more outside the Eurozone than it does to the Eurozone; it could lower the tariffs on imported goods once outside the EU; and the Eurozone appears to be in a zero-growth mode unlike the UK?

  13. It’s awful for me personally as I’m paid in pounds coupled with the fact that I’m now spending so much more than I was a year or so ago. It’s great for me hitting my departments budget as our income is in RMB but the budget in GBP. Obviously I’d prefer it the other way around.

  14. Zorro–your blubbering shite has become a joke and moved beyond that into self-parody.

    If you don’t like it here take your treason and join your friends.

    The new creep who looks like Frankenstein with his hair parted in the middle will acclaim your betrayal and Druncker will get you just the one drink on his expenses.

  15. Maybe that’s why David Cameron has no job and I am still doing mine.

    He’s waited a year to get revenge for Cameron’s joke about him. The sad little cock.

  16. Rob

    I did Google it and you are spot on – he reminds me of the U Boat captain in Dad’s Army – except he is no laughing matter. Were he ever to get a sniff of power it would be like the 1930s all over again….

  17. Bloke in Costa Rica

    Another way to differentiate Dave and Spud: Cameron will be plying the after-dinner speech circuit and absolutely fucking minting it, and Murphy will not.

  18. “Maybe that’s why David Cameron has no job and I am still doing mine.”

    He does still have a wife though Richard.

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