Comments on: Pound’s fall a symptom of crisis, not a problem in itself Wed, 16 Nov 2016 01:37:11 +0000 hourly 1 By: Freelance Writer Thu, 19 Feb 2009 09:41:17 +0000 It’s nice to see the Lib Dems in full flow as they point the finger.

The current exchange rate of the pound has it’s pro’s and cons, I tink saying that it is not causing economic stress is childish at best though.

By: Matthew Tue, 17 Feb 2009 14:06:36 +0000 Party political lobbying cleverly disguised as a “neutral” article…

The LibDems would love us to join the euro, of course – we’d then be practically locked in to the European system they love so well. Massive centralised government, high tax, high expense accounts for thousands of politicians and bureaucrats, no real freedom or democracy for mere “ordinary” people… And you know what is the worst thing of all? You’d NEVER be able to change it.

It’s the euro, not the pound, that is virtually dead. If the French are screaming about the pound, think what it’s like for the Spanish, the Portuguese and the Poles. The Irish are about to default on their sovereign debt. The one-size fits all currency is a straitjacket and a prison, and so is a one-size fits all Europe.

By: David Fri, 06 Feb 2009 09:43:07 +0000 Does Vince Cable think this Government is corrupt, inept or both ?

I can’t understand why they just gave the banks taxpayers money without strict conditions,

particularly considering most bankruptcy proceedings against companies & individuals
are initiated by HMRC, 52% now – up from 37% in 1997.

Maybe Brown, Darling & the reptile Mandelson will quietly become better off,
after they’ve been kicked out of parliament
– I hope the police keep an eye on this.

It just feels like the biggest con ever !

By: Jason Wed, 04 Feb 2009 17:26:12 +0000 Having been attracted by the fulsome praise in the comments, I then read the Cable article carefully (twice) in an effort to extract the pearls of wisdom which I thought must surely be there.

I was disappointed. The article is nothing more than what passes for financial journalism, ie a restating of historical events which tells us nothing new, with the inevitable slant to bolster his own political aims. And what are those aims? Simply to secure the future for his Liberal Party in Europe, in this instance by using British membership of the Euro as another link in the chains which will bind Britain and other European nations irrevocably together under the control of unelected leaders.

Beware of political skulduggery dressed up as financial
advice. Have we learned nothing from the credit crunch?

By: Claire Wed, 04 Feb 2009 01:16:58 +0000 Nice article!
Thanks for sharing it 😉

By: Ian Calvert Tue, 03 Feb 2009 10:55:14 +0000 Excellent , I hope someone, VC would be good, will write a “Don’t Panic” guide to bubbles and central bankers.

By: katrina Tue, 03 Feb 2009 09:46:21 +0000 As always Mr. Cable provides thought provoking facts and theories. Without doubt the bloated house prices and consequent rise in unsustainable personal debt has placed the UK in a much worse position to weather the storm than it’s peers. This has been augmented by a thoughtless increase in public costs primarily fuelled by a huge increase in payroll and pensions liabilities when compared to the private sector. These increases have seen most growth in labour heartlands and marginal constituencies and the political objectives are obvious.
In other words the economy has been totally mismanaged and a spending and debt binge has developed the like of which has never before been witnessed in the U.K.
This coupled with an incompetent level of regulation within the finance sector is responsible for the drop in Sterling.
It has nothing to do with the Global situation otherwise parity would be maintained. There is no such thing as an over valued or under valued floating currency. The market rate is the correct value for a floating currency and reflects the strength of the economy which supports it.
In other words at the moment both our economy and Sterling stink and the responsibility for this rests fairly and squarely with the present Government.

By: Karlheinz Lamprecht Mon, 02 Feb 2009 14:18:01 +0000 Mr. Cable,

excellent and carefully explained.

Of course people forget easily that a week currancy means that there is another stronger one out there.

I cannot see why anyone would like to invest in any British investment product – just putting money without interest in a EURO account performs much better.
25% gain in the last 6months would be the norm without risk. Contrary I have lost in my British pension investment 25% – So in real European terms I have lost 50%. I am currently reviewing my pension investments and will choose non UK products as in any crisis the USD and the EUR will perform better, because they are reserve currancies.

New labour, which is responsible for the macro economics and the lack of finacial regulations in this country alone over all this years clearly must be finished. They no longer can spin their way out of this mess. People should be worried to receive enormous debt in return for saving bad banks and pay their bonuses without changing their responsible management.

Finally if today people would be asked to decide if they would like the EURO or keep the weak pound I am sure the majority will decide pro EURO. Only the Finacial Service Industry is a benefactor and that is not enough in terms of numbers in a democracy. Personally I have never met a a pro GBP person to argue with in the last 5 years…

By: Ray, Coventry, England Thu, 29 Jan 2009 21:19:05 +0000 Mr Cable states ” An argument is gathering strength that in order to avoid an Icelandic fate, a consequence of over dependence on financial services and the City, the currency should be locked into the Euro zone.”

This is only viable of course if our benighted politicians do not ask the people of Great Britain, who in many polls have stated overwhelmingly they do not want to join the euro zone. Of course they can do what they did with the Lisbon Treaty, which also the vast majority of British people wanted a say on, and use a whipped vote in the Commons and Lords to get it passed.
Should we trust these people to do what is right:-
Only as a rabbit trust a weasel.