HeartThais Posted November 13, 2008 Report Share Posted November 13, 2008 I'm falling and I can't get up.... This will definitely have an impact on holiday goers. Link to comment Share on other sites More sharing options...
drogon Posted November 13, 2008 Report Share Posted November 13, 2008 Holiday goers in 2009? Yes sure: - First you have the buying power shrinking and it might reach a point when there is not even money left to travel. - Cost of air tickets, still high and if the oil goes up again then bye to cheap air tickets to far away destinations. - For many countries: Local currency is going down against "exotic destinations" currencies Strange fate is, the USD is currently "strong" (at a huge price for the USA though) but there are more and more economical problems in the US and jobless people. Sad for the £ but UK is currently in a deep crisis. Link to comment Share on other sites More sharing options...
keith doug Posted November 13, 2008 Report Share Posted November 13, 2008 dragon i have to agree with your comments. for the 1st time in years i wont be in thailand this xmas., Link to comment Share on other sites More sharing options...
Dexi Posted November 13, 2008 Report Share Posted November 13, 2008 Heard an expert on Bloomberg predict parity for the £ against the $ and euro ( ie. £1=$1 ) before too long....I made a rough calculation that I would need an x-rate of 60 Bt.to come back for another stint in LOS .....looks like I`ll be staying at home for a while.... :thumbdown: Link to comment Share on other sites More sharing options...
Lusty Posted November 13, 2008 Report Share Posted November 13, 2008 I wonder if the pound will drop below 50? 52 this morning. Link to comment Share on other sites More sharing options...
Faustian Posted November 13, 2008 Report Share Posted November 13, 2008 51.4 by close tonight....farking scary...I'll be keeping my money in the UK for some time. Link to comment Share on other sites More sharing options...
bangkokbutcher Posted November 13, 2008 Report Share Posted November 13, 2008 I think this pretty much sums it all up.. Link Link to comment Share on other sites More sharing options...
The_Munchmaster Posted November 13, 2008 Report Share Posted November 13, 2008 I wouldn't worry, I'm sure the bars will reciprocate by dropping drink and bar fine prices and the girls will chip in by knocking a few hundred off the cost of a ST. Link to comment Share on other sites More sharing options...
Vladican Posted November 14, 2008 Report Share Posted November 14, 2008 I think this pretty much sums it all up.. Link Not to be an ass but I like this one much better.. Link Link to comment Share on other sites More sharing options...
HeartThais Posted November 14, 2008 Author Report Share Posted November 14, 2008 Unfortunately, I don't see much upside to sterling. I don't understand why baht isn't weakening more against USD. I really expected baht to weaken as investors repatriate into dollar assets. It would seem that BOT's efforts to stabilize baht in recent years by restricting inflows has had the desired effect. That said, it looks like BOT will be willing to let baht depreciate naturally and I think we should see some measured depreciation vs. USD. http://thainews.prd.go.th/newsenglish/previewnews.php?news_id=255110200041 However, I really think the outlook for sterling is grim. UK consumers are overextended, even compared to Americans. UK housing market is in freefall. At the end of this holiday retail season, I think the UK will post some of the worst results in the world. I had some hopes that the US would announce a suprise 75 bp cut in December for a slight glimmer of hope for a sterling bounce. But then I came across this article in the economist. http://www.economist.com/finance/displaystory.cfm?story_id=12607243 The article reports that even though the fed funds rate is at 1%, the effective rate is only 25bp! A rate cut in December will have little impact on dollar weakening. In fact, if the effective rate gap closes, the dollar will appreciate. Based on all this, I will be moving GBP into USD this week so that I can salvage something of my planned trip to LOS next year. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.