The Economic Crisis (was: The British Pound)


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Syrok
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I don't how often you check the conversion rates, but it's quiet fun to see the pound crash. If it keeps falling at this rate it will be less worth then the Euro by Monday morning.
#1 at 11:48:53 - 18/12/2008
strangeed
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The guardian reported that some currency exchanges are already there, giving 19 euros for 20 pounds, once the commission charge is included.

I'm looking forward to some christmas shopping when I'm in the UK from the 20th to the 28th.

Of course there are wider economic concerns which are much less fun for all concerned, so sorry if I come across as selfish in looking at the shinies I can get for less.
#2 at 12:11:14 - 18/12/2008
TheSaint
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It really isn't fun to watch if you're going abroad at Christmas.
#3 at 12:18:56 - 18/12/2008
Retroid
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:'(
#4 at 12:32:37 - 18/12/2008
strangeed
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No, I can see how that must be painful at the moment. I'm still kicking myself for not investing in some dollars when the Euro was high against it in Summer, going there first week of January.
#5 at 12:35:18 - 18/12/2008
TheSaint
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Yeah I need dollars as well not quite as bad as the Euro but I was getting two to the pound in the summer.
#6 at 12:37:13 - 18/12/2008
Syrok
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#7 at 12:53:45 - 18/12/2008
FlexibleFeline
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It's actually pretty horrible for me. I live and work here in Hungary but about 40% of my annual income is GBP. So the further it drops (admittedly it's not as weak against the Hungarian Forint as the Euro), the less I have :-(

/looks sheepishly at recent purchases of CoD5, Fable2, Left4Dead and Midnight Club: LA

#8 at 14:46:50 - 18/12/2008
billdoor
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#9 at 14:53:39 - 18/12/2008
Trip SkyWay
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Not fun for me, it's like getting a 30% pay cut :(
#10 at 15:54:29 - 18/12/2008
Syrok
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I really should have worded the first post different. :(
#11 at 16:07:11 - 18/12/2008
Trip SkyWay
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Hehe no worries I'm just moaning :)
#12 at 16:12:24 - 18/12/2008
FlexibleFeline
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Syrok said:I really should have worded the first post different. :(


Ha, don't worry, I understood your meaning - or at least, I didn't assume you were saying you enjoyed other people's misfortunes :-)
#13 at 16:15:49 - 18/12/2008
FlexibleFeline
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Do you think we've lulled Syrok back into a false sense of security?

QUICK - JUMP HIM AND STEAL HIS EUROS!


#14 at 16:17:45 - 18/12/2008
Whizzo
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Syrok said:I really should have worded the first post different. :(
No shit, our economy crashing is just hilarious.
#15 at 17:15:07 - 18/12/2008
Whizzo
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I'm sure all those being made redundant up and down the country are all amused by the economy hitting the skids too.

It's not just twats in the city that are facing a lot of shit this Christmas because of what's going on.
#16 at 17:32:04 - 18/12/2008
Syrok
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It was meant in a cynical way, like "Ha, there you go you thieving capitalists!".
#17 at 17:55:31 - 18/12/2008
strangeed
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There are many highly placed people who made a series of bad decisions who are now in trouble. Sadly their mistakes were so big that they have managed to pull a lot of others down with them, many of whom are in no position to recover. It's a tragic failure of a system based on the creation of debt as central motivator.

Next 6 months are going to be messy. My industry included, several smaller players are in big trouble.
#18 at 18:01:47 - 18/12/2008
Syrok
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Yup, the unemployment numbers will rise sharply next year.

(Maybe this thread could be renamed "The Economic Crisis" or something like that)
#19 at 18:45:00 - 18/12/2008
JimJam
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duncan said:
To watch a bucket load of over entitled idiots who never saved against the rainy days that were so obviously coming is pretty amusing.


On the surface I agree with this, but these greedy twats are taking a lot of innocent people down with them. For example, Nekotcha's dev house Free Radical closed today, and it's not amusing in the slightest to see people who have nothing to do with the economic state of the country being so adversely affected by the decisions made by those that are trusted to do so.
#20 at 21:21:47 - 18/12/2008
Furbs
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And the winner of the smuggest schaudenfraud post of the year goes to...

Would the equivalent post a couple of years ago have been "I dont understand all these people whining about losing their houses in a tsunami...they could have moved inland a bit more, noone made them become fishermen" been ok?
#21 at 22:52:01 - 18/12/2008
JimJam
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duncan said:
There was nothing stopping people who were in gainful employment spending significantly less than they earn and sticking that in the bank.


That's quite a crass statement Duncan. Judging by what you say about your past jobs, you should realise very well that 'gainful' employment is not necessarily well paid employment. There are a lot of people who live up to their salaries in this country, granted. But there are a hell of a lot more people who just about break even just to keep a roof over their heads and feed their families.
#22 at 23:15:03 - 18/12/2008
ilmaestro
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duncan, do fuck off out of the thread, old chap. You're sounding like LeD in the Free Radical thread on EG, if you want a touchstone for how you're coming across.
#23 at 23:18:28 - 18/12/2008
Furbs
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To the average joe the current market is tragic incident largely beyond their control and its dramatically impacting on the lives of thousands of people, right before xmas.

Including several mates of mine. But I'm sure the colleagues who were laid off at my place because of financial necessity for the greater good of the company (I know the MD and its certainly not because he is a twat and didnt try to plan ahead) are really happy you find it hilarious. Nice going mate.

Oddly enough, I dont think any of my ex colleagues are going to whine too much, they cant really afford to, so they'll also be trying to rebuild their lives. Will probably make a mess of quite a few kids whose parents were already struggling and close to poverty already.

The whole of the west doesnt live in penthouses and drive luxury cars, drinking finest wines and living like royalty.
#24 at 23:21:31 - 18/12/2008
duncan
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ilmaestro said:duncan, do fuck off out of the thread, old chap. You're sounding like LeD in the Free Radical thread on EG, if you want a touchstone for how you're coming across.
Point taken.

My apologies to anyone I've offended.
#25 at 23:43:10 - 18/12/2008
lostsoul
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At what point does a recession become a depression?
#26 at 00:47:41 - 19/12/2008
Syrok
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I think there is no real definition, at some point of recession which has been going on for a while and is quiet severe (ie worse then it is now) then people or the media might start calling it an depression.
#27 at 01:04:25 - 19/12/2008
ilmaestro
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duncan said:
ilmaestro said:duncan, do fuck off out of the thread, old chap. You're sounding like LeD in the Free Radical thread on EG, if you want a touchstone for how you're coming across.
Point taken.

My apologies to anyone I've offended.

No hard feelings, I'm sure we all know that some people will see the "other" side of things like this, but I just didn't see any good coming from it in this case.
#28 at 01:34:47 - 19/12/2008
morriss
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I've basically had to turn down an excellent job because the exchange rate is so pitifully low atm.

Example: 1 year ago - £10 = £11.50 in Danish money. Now £10 = 8.20. teh suck.
#29 at 01:35:19 - 19/12/2008
JimJam
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morriss said:I've basically had to turn down an excellent job because the exchange rate is so pitifully low atm.

Example: 1 year ago - £10 = £11.50 in Danish money. Now £10 = 8.20. teh suck.


That's bad luck Morriss.

I wish I was still working in the States. When I was there it was $1.75 to the £1.

Just a random thought - at what point do you reckon Gordon Brown will insist we join the Euro because it's now 1:1 ?
#30 at 11:04:58 - 19/12/2008

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