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Cable Update (GBPUSD)

  • #119,841
  • Feb 11, 2009 10:48am Feb 11, 2009 10:48am
Quoting joemiami
once the personal income tax gets cut heavily....pll will be more inclined to start buying products and services at all price ranges...takes time for the gears to start spinning...
agreed, although I don't think we'll be getting income tax cuts in the UK. It's just very much a case of bailing out the banks, and then asking them nicely to please start lending again.
  • #119,842
  • Feb 11, 2009 10:54am Feb 11, 2009 10:54am
Quoting daffy
agreed, although I don't think we'll be getting income tax cuts in the UK. It's just very much a case of bailing out the banks, and then asking them nicely to please start lending again.

Im in the U.S,...............so Im talking US consumers gen speaking
  • #119,843
  • Feb 11, 2009 10:59am Feb 11, 2009 10:59am
Quoting allserene
ok watching cnbc as they all thrash around in total confusion - boss hog and bat ears geithner - they are like king canute trying to turn back the tide

what a hoot
LOL - thats funny ...
Attached Image
  • #119,844
  • Feb 11, 2009 11:05am Feb 11, 2009 11:05am
Quoting joemiami
once the personal income tax gets cut heavily....pll will be more inclined to start buying products and services at all price ranges...takes time for the gears to start spinning...
If I was people, I would read my pension statement and realize that say 15 years of mine and my employers contributions have just gone up in smoke. Then I would spend the next 10 years trying to save something so I would not be in a yogi bear suit, greeting people outside walmart when i was 75

I would spent nothing if I could avoid it - forget tax etc its irrelevant - spend nothing except on essentials - Yorkshire fish and chips and timmy taylor beer

People are nuts! they are nuts ! - they have no idea ! The sky has fallen and they don't realise (Cramer was right but he is wrong now - he says housing is back on track by june)

40% of the world's pension funds assets are wiped out - decades of savings

they think its going to come back ! I reckon Heather's leg will grow back before this lot does
  • #119,845
  • Feb 11, 2009 11:06am Feb 11, 2009 11:06am
our new channel?
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  • #119,846
  • Feb 11, 2009 11:10am Feb 11, 2009 11:10am
Quoting joemiami
that bailout they just approved is just another weak bandage on a deep economic wound that only time will heal....unless they cut income tax rate so much that consumers will have extra money to start spending again.....thus creating prospect of rising production..leading to hiring again....

obama is an idiot.... he thinks that by throwing money at companies..they will hire ppl again!

they are not going to hire ppl again until they see rise in demand for their products or services!!

need to get the consumer spending again by putting money in...
For immediate effectiveness, this approach advocated by your college professor (a income tax cut of some level) would be the best way to stimulate demand.

However, as a medium or long-term solution it has major flaws, as it does nothing to deal with one of the root causes of the current problem, namely the huge disparity between deficit countries such as the UK and US, and the surplus nations such as China and the Gulf states. These imbalances simply have to be addressed, as the excesses that have built up are unsustainable - the US cannot keep on borrowing ever-greater amounts indefinitely nor can China keep funding this ever-growing deficit.

Therefore, this approach that your professors suggests would work best in surplus countries such as China, where domestic demand has to increase in order to reverse some of the huge imbalances accumulated in the past decade. In the case of the US, if the only stimulus was a huge cut in income tax, all this would do is transfer debt temporarily from the private sector to the public sector.

In the UK and US there needs to be policy action to deal with the immediate slump in demand and lack of credit, but huge amounts of money has to be spent on education and infrastructure, in order to deal with the structural flaws in the Anglo-Saxon economic model. In short, effective economic stimulus need to be carried out on a global basis in order to have the best chances of success.
  • #119,847
  • Feb 11, 2009 11:12am Feb 11, 2009 11:12am
Quoting allserene
If I was people, I would read my pension statement and realize that say 15 years of mine and my employers contributions have just gone up in smoke. Then I would spend the next 10 years trying to save something so I would not be in a yogi bear suit, greeting people outside walmart when i was 75

I would spent nothing if I could avoid it - forget tax etc its irrelevant - spend nothing except on essentials - Yorkshire fish and chips and timmy taylor beer

People are nuts! they are nuts ! - they have no idea ! The sky has fallen and they don't realise...
Its Funnier because its true.
  • #119,848
  • Feb 11, 2009 11:13am Feb 11, 2009 11:13am
Its buy time.



Later
  • #119,849
  • Feb 11, 2009 11:14am Feb 11, 2009 11:14am
Quoting allserene
Then I would spend the next 10 years trying to save something so I would not be in a yogi bear suit, greeting people outside walmart when i was 75
A brilliant image!!!
  • #119,850
  • Feb 11, 2009 11:15am Feb 11, 2009 11:15am
Quoting steelhead
Its buy time.



Later
  • #119,851
  • Feb 11, 2009 11:21am Feb 11, 2009 11:21am
See you all later good luck make pips
  • #119,852
  • Feb 11, 2009 11:43am Feb 11, 2009 11:43am
this slow market action making me sleepy
  • #119,853
  • Feb 11, 2009 12:13pm Feb 11, 2009 12:13pm
bears and bulls sleeping together now. bugger, c'mon bears, time to get up & get down!
Thank You
  • #119,854
  • Feb 11, 2009 12:18pm Feb 11, 2009 12:18pm
Im long from here for today...who else?
  • #119,855
  • Feb 11, 2009 12:21pm Feb 11, 2009 12:21pm
Quoting joemiami
Im long from here for today...who else?
Well i'm Back and i can see 1.4440 still hold, and we have a good news for $ in the next 1 hour, we will see 1.4310 and maybe 1.4170 the third target
  • #119,856
  • Feb 11, 2009 12:26pm Feb 11, 2009 12:26pm
Quoting joemiami
Im long from here for today...who else?
in d long bus currently
  • #119,857
  • Feb 11, 2009 12:28pm Feb 11, 2009 12:28pm
Quoting Abuawad
Well i'm Back and i can see 1.4440 still hold, and we have a good news for $ in the next 1 hour, we will see 1.4310 and maybe 1.4170 the third target
If there are good news for the US, doesn't that imply gbpusd goes up because of risk aversion?....
  • #119,858
  • Feb 11, 2009 12:33pm Feb 11, 2009 12:33pm
Quoting Abuawad
Well i'm Back and i can see 1.4440 still hold, and we have a good news for $ in the next 1 hour, we will see 1.4310 and maybe 1.4170 the third target
what good news? Ive heard nothing but bad news last 2 days
  • #119,859
  • Feb 11, 2009 12:35pm Feb 11, 2009 12:35pm
Quoting rt4x
If there are good news for the US, doesn't that imply gbpusd goes up because of risk aversion?....
For $ not for pond, remember its GBPUSD not USDGBP
  • #119,860
  • Feb 11, 2009 12:36pm Feb 11, 2009 12:36pm
Quoting joemiami
what good news? Ive heard nothing but bad news last 2 days
well that's the estimate to be good
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