"charles" wrote in message
...
In article ,
Chris Hogg wrote:
On Thu, 19 Jan 2017 11:10:50 +0000 (GMT), "Dave Plowman (News)"
wrote:

The fall in the value of the pound has already cost us more in increased
import costs than any net saving in EU contributions after we leave.

Conveniently ignoring the benefit to exporters, of course. Devaluation
is generally good for a country; why else did Harold Wilson devalue
the pound by 14% in 1967, and why else is the FTSE at record highs
ATM, why else is unemployment at its lowest value for 11 years. But
you always do do your best to present a miserable view, don't you.

when a country has a negative balance of payments - devaluation
is NOT a good thing. Balance of payments tends to get worse.

Even more pig ignorant than you usually manage. Devaluation usually
improves the exports and that helps the balance of payments.

If we are douing so well

No if about it. That’s the reason so many from Poland, Romania
etc keep pouring into the country, because Britain is doing much
better than where they are coming from, and why so many are
trying to get from France to Britain illegally, because Britain is
doing rather better than almost anywhere else in the EU.

why is the pound only half its international
value since Harold Wilson's day.

Because currency relativitys are RELATIVE, by definition.

And there is no such thing as 'its international value' with a currency.

According to those who know the stoc=k markets the
FTSE has risen because many of the big companies
receive most of their profits from abroad.

Even sillier than you usually manage.