The POUND is dropping insanely fast

I have watched the pound lose several cents value a day, against the dollar. Since tuesday I think... It's gone from like, $1.56US to the English pound to $1.46 today...

I have been waiting to convert my pounds, thinking the dollar would eventually lose more value, with all the stupid crap our govt is doing, before converting my paycheck...

This is bad. For me, and the Brits. Do most have NO idea what is going on here?! I want to know what is going on.

I am sincerely worried the Brits are falling faster than we are. It is no longer beneficial to work for an English company, sorry to say.

Yes pretty soon the pound will be worth as much as a pound of------ fill in the blanks lol,looks like we aren't alone in the US,heck if we are broke why not everyone else too

Hey, things aren't that bad here in all honesty. My company (not actually mine, but my employer) has turned out bigger pre-tax profits than last year and September has been our best month of the year, with double digit growth.

The pound falls, so our exports become more affordable, especially to the US, our biggest trading partner after the EU. The pound has been riding high for too long, it had to come down.

The Uk is slipping into recession granted, but to be honest, there are far worse of economies in the EU and we're looking pretty good in alot of sectors. Youi have to remember that economies always go in cycles and this will be no different from the others. Yes, it will be bumpy for many, really bad for some, but others will come out smelling of roses.

All swings and roundabouts.

Stumason..

Yeah, I am glad some are still doing great. Reminds me, some industries are recession-proof.

I cannot seem to get my empire of websites up fast enough to keep up with the losses of the pound...

Oldtimer, they are really screwed when their pound equals as much as the dollar.

My problem is that I am seeing many of my company's customers losing jobs, and just not having Entertainment money to be spent. Which means work is slow as hell. The paycheck is low, and now the pound doesn't even get good conversion rate to make up for the slowness...
Many have been laid off in the UK.

I got my fingers crossed for you guys, as I hardly see this as a good thing. The Brits I work with on a daily basis are good people. This is just bad.

Originally posted by stumason

The pound falls, so our exports become more affordable

Great point I tried to explain that to people who I hear trying to sound as if they know something of economics and they are horrified that the US Dollar looses value they just dont get it.

You are right OP, I admit to importing a lot of the stuff I buy from america, because i used to save almost half the price, retailers seem to sell stuff that cost 50 dollars in america to 50 pounds over here, so it was always cheaper to buy from US internet shops etc and have them send to the UK with airmail.

Now I save little doing this, the pound has lost so much of its value, but shop prices remain high, and wages have gone up hardly anything despite a weaker pound, which is an increasing stress for us.

What comes after a recession is bright and wonderful

Investing in the Euro was always going to be the best return against the pound. In the last 2 months, 100k investment would have brought you 12k profit.

We invested in the Euro 5 months ago and now have a net profit of 19k. The euro will continue to grow and your investment will get so strong your double your investment.