Jump to content
Sign in to follow this  
Saint Toppy

Our new position in the EU

Recommended Posts

Worth it -

C5Oaw0oWQAMIWo5.jpg

  • Like 1

With the best, thats a good bit of PR, though I would say the Bedford team, theres, like, you know, 13 blokes who can get together at the weekend to have a game together, which doesnt point to expansion of the game. Point, yeah go on!

Share this post


Link to post
Share on other sites
9 minutes ago, ckn said:

Really.  So, the big downward spike on the day after the referendum wasn't Brexit?  The long-term stable £1:$1.55 mean average going down to $1.40-$1.44 between the Tory majority win and a promise of a referendum wasn't to do with Brexit nerves?  How else do you explain those two facts?

Can I suggest you pick an argument line next time where you end up not looking quite so silly?

Can I suggest you are able to say something other than it's all Brexit's fault?

You do realise that institutions can manipulate markets. Hard economic facts aren't needed. 

Now, call me cynical, but the US can now buy all the British goods it could before 23rd June at a 20% discount.

Sounds like a good enough reason to spook the markets & use Brexit.

Unless of course there are genuine reasons why this fall happened.

Maybe you can explain the economic factors that brought this fall in the £?

No inflation spike, no QE, no interest rate rises, no oversupply of £s etc etc

 

 

 

 

Share this post


Link to post
Share on other sites
13 minutes ago, AlexHaldane said:

You seem incapable of distinguishing between the two.

Input prices for Apple & Microsoft have not changed. Therefore why increase your prices.

Yes, their products become more expensive to UK consumers, so it takes more £ to buy the same amount.

They may possibly sell fewer units in the UK due to a weaker £. Though this equally may not be the case.

A price increase when your factor inputs don't increase and you are selling into a weaker currency is corporate rip off tactics.

Surprises me that they are being defended, such is the power of brand loyalty.

Have European car makers put their prices up?

Last post on this, beyond this, you're either seriously, and probably terminally, misguided or trolling:

If I am in charge of Apple or Microsoft and report my profits in US$, I will sell my goods at US$ to local price conversions otherwise I lose money if the local selling currency grows weaker.  So, if I regularly sell one unit at $100 then I expect $100 in my bank for a unit sold, if that means I have to increase my prices in a local selling currency then that's what I do otherwise I lose money.  I HAVEN'T increased my US$ price and I still get the same US$ in by bank account per unit, the buyers in the selling country just pay more of their local currency because they have self-tanked their economy.

In 2015, US companies could peg their prices at around £1:$1.55 and accept the relatively minor fluctuations, so in 2015 my unit had to sell for £64.52 to make me $100.  The price is currently £1:$1.2487 meaning I now need to sell for £80.08 to make $100.  Really simple maths, it really is.

  • Like 1

“Travel is fatal to prejudice, bigotry, and narrow-mindedness, and many of our people need it sorely on these accounts. Broad, wholesome, charitable views of men and things cannot be acquired by vegetating in one little corner of the earth all one's lifetime" - Mark Twain

Share this post


Link to post
Share on other sites

A bit more on this.  Multi-national companies have complex systems that peg their international money into one core currency daily.  I did a project to put 6 new national companies into one global HQ company's SAP financial systems so they could have a live single daily global management accounting set of figures.  I spent two years managing this in Bratislava, Bucharest, Budapest, Prague, Moscow and Warsaw and it gave me an innate hatred for this complexity of live currency conversion even though I understood WHY it had to be done.  If you have a US company, they want their live prices in US$ and don't really care about local excuses; if it's not in US$ then it's wrong.


“Travel is fatal to prejudice, bigotry, and narrow-mindedness, and many of our people need it sorely on these accounts. Broad, wholesome, charitable views of men and things cannot be acquired by vegetating in one little corner of the earth all one's lifetime" - Mark Twain

Share this post


Link to post
Share on other sites
7 hours ago, ckn said:

Last post on this, beyond this, you're either seriously, and probably terminally, misguided or trolling:

If I am in charge of Apple or Microsoft and report my profits in US$, I will sell my goods at US$ to local price conversions otherwise I lose money if the local selling currency grows weaker.  So, if I regularly sell one unit at $100 then I expect $100 in my bank for a unit sold, if that means I have to increase my prices in a local selling currency then that's what I do otherwise I lose money.  I HAVEN'T increased my US$ price and I still get the same US$ in by bank account per unit, the buyers in the selling country just pay more of their local currency because they have self-tanked their economy.

In 2015, US companies could peg their prices at around £1:$1.55 and accept the relatively minor fluctuations, so in 2015 my unit had to sell for £64.52 to make me $100.  The price is currently £1:$1.2487 meaning I now need to sell for £80.08 to make $100.  Really simple maths, it really is.

Why do you keep saying the UK economy has tanked? Which economic indicators say this is the case?

It's price increases in Q3 last year were related to a new range of devices & on apps.

Blamed on Brexit of course a fluctuation in a currency currency they weren't pegged to.

12 months ago the exchange rate meant £1 would yield $1.44 and $1 would yield £0.69.

At today's exchange rate £1 would yield $1.25 and $1 would yield £0.80  

Let's say an Apple Mac has for the last 12 months been sold at a landed UK price of $1000 and there is a 50% profit margin.

12 months ago that $1000 price would have yielded £690. Today, that same $1000 price would yield £800.

A fall in the value of domestic currency increases the price of imports.

How has the fall in the value of Sterling decrease profits for Apple?

Simple case of premium pricing being applied and a convenient excuse needing to be found.

Bit like Jamie Oliver saying Brexit stopped his restaurants from being popular enough to survive.

I blame the EU. They are the ones who have slapped this thieving corporate giant, the world's largest company, with a multi billion € tax bill for funnelling massive profits through Ireland.

How anyone can try to defend these greedy thieves and all the other global players, and companies that move money around and siphon it off through EU and offshore shell companies is baffling.

 

 

 

Edited by AlexHaldane

Share this post


Link to post
Share on other sites
4 hours ago, Bedford Roughyed said:

Worth it -

C5Oaw0oWQAMIWo5.jpg

Aside from the fact that I don't mind immigrants working here anyway, we are talking about low skilled jobs there. So what's wrong with getting our own unemployed on the case? We're not short of them.

  • Like 1

Share this post


Link to post
Share on other sites
6 hours ago, ckn said:

Last post on this, beyond this, you're either seriously, and probably terminally, misguided or trolling:

Ring any bells? Standards of behavior. ...

The degree of intolerance to those that don't agree with the forums remainers i still on the rise, I see. 

Edited by JohnM
  • Like 1

Four legs good - two legs bad

Share this post


Link to post
Share on other sites
6 hours ago, ckn said:

A bit more on this.  Multi-national companies have complex systems that peg their international money into one core currency daily.  I did a project to put 6 new national companies into one global HQ company's SAP financial systems so they could have a live single daily global management accounting set of figures.  I spent two years managing this in Bratislava, Bucharest, Budapest, Prague, Moscow and Warsaw and it gave me an innate hatred for this complexity of live currency conversion even though I understood WHY it had to be done.  If you have a US company, they want their live prices in US$ and don't really care about local excuses; if it's not in US$ then it's wrong.

I thought your  previous  post was your last on this.


Four legs good - two legs bad

Share this post


Link to post
Share on other sites
13 minutes ago, JohnM said:

Ring any bells? Standards of behavior. ...

The degree of intolerance to those that don't agree with the forums remainers i still on the rise, I see. 

I can think of one Remainer on the board who is as out of touch with reality as that and I do think he can help it.  They also have an equivalent on the Leave side (who does face hostility).

  • Like 1

"You clearly have never met Bob8 then, he's like a veritable Bryan Ferry of RL." - Johnoco 19 Jul 2014

Share this post


Link to post
Share on other sites
7 hours ago, ckn said:

Last post on this, beyond this, you're either seriously, and probably terminally, misguided or trolling:

There is a third option, he might be a student.  ;)

  • Like 1

Share this post


Link to post
Share on other sites
3 hours ago, Johnoco said:

Aside from the fact that I don't mind immigrants working here anyway, we are talking about low skilled jobs there. So what's wrong with getting our own unemployed on the case? We're not short of them.

In the region of 480,000 UK 18 to 24 year old are NEETS.

Jumps to nearer 800,000 if you use 16-24 range.

 

 

 

 

 

 

Share this post


Link to post
Share on other sites
17 hours ago, Saint Toppy said:

 

Neither you, I, or indeed any expert can say with any degree of certainty what Britain's economic performance will be once we've left the EU and completed all the other global deals we're likely to. You believe we'll be worse off, I firmly believe we'll be better off in the long term. Both beliefs are equally as valid at this stage in the process because nobody can predict the future.

Why didn't any of the Brexit lot say that during the referendum then.   You only have to look at  the people behind the Leave campaign to know that it's not really in the best interests of the less well off in our country.  People like Lawson, Dacre, Murdoch, Desmond, all basically proven baddies.


“Few thought him even a starter.There were many who thought themselves smarter. But he ended PM, CH and OM. An Earl and a Knight of the Garter.”

Clement Attlee.

Share this post


Link to post
Share on other sites

Quick question. Can those of you Remainers who have FTSE -tracking pension funds comment on their performance post-Brexit?


Four legs good - two legs bad

Share this post


Link to post
Share on other sites
9 minutes ago, Trojan said:

Why didn't any of the Brexit lot say that during the referendum then.   You only have to look at  the people behind the Leave campaign to know that it's not really in the best interests of the less well off in our country.  People like Lawson, Dacre, Murdoch, Desmond, all basically proven baddies.

There was a debate on that very issue.


"You clearly have never met Bob8 then, he's like a veritable Bryan Ferry of RL." - Johnoco 19 Jul 2014

Share this post


Link to post
Share on other sites
5 minutes ago, JohnM said:

Quick question. Can those of you Remainers who have FTSE -tracking pension funds comment on their performance post-Brexit?

Indeed, John.  I will add a caveat, that things measured in dollars will go up when the pound goes down.  The Telegraph kept me entertained with alternating headlines of 'Pound Gains Strength (FTSE down)' and 'FTSE Up (pound is weaker)'.

I have a 401K.  Were I to spend those dollars in pounds (?!), it would be fantastic.

Edited by Bob8

"You clearly have never met Bob8 then, he's like a veritable Bryan Ferry of RL." - Johnoco 19 Jul 2014

Share this post


Link to post
Share on other sites
9 hours ago, tonyXIII said:

I live in Greece. I transfer my UK pension to my Greek bank monthly. I now get 15 - 20 % less than a year ago.

And I am not happy that a small majority of UK voters have chosen to shoot themselves in my foot.

 

You chose to live in Greece, you chose to subject your income to currency fluctuations.

Its pretty arrogant to expect the people living in the UK to vote in a way that protects the income of those that don't live here


Lets Get Brexit Done !!!!!

Share this post


Link to post
Share on other sites
12 minutes ago, JohnM said:

Quick question. Can those of you Remainers who have FTSE -tracking pension funds comment on their performance post-Brexit?

Can only dream of having a pension!  I'll be working till the day they come to put me in the box!

Share this post


Link to post
Share on other sites
9 hours ago, ckn said:

Last post on this, beyond this, you're either seriously, and probably terminally, misguided or trolling:

If I am in charge of Apple or Microsoft and report my profits in US$, I will sell my goods at US$ to local price conversions otherwise I lose money if the local selling currency grows weaker.  So, if I regularly sell one unit at $100 then I expect $100 in my bank for a unit sold, if that means I have to increase my prices in a local selling currency then that's what I do otherwise I lose money.  I HAVEN'T increased my US$ price and I still get the same US$ in by bank account per unit, the buyers in the selling country just pay more of their local currency because they have self-tanked their economy.

In 2015, US companies could peg their prices at around £1:$1.55 and accept the relatively minor fluctuations, so in 2015 my unit had to sell for £64.52 to make me $100.  The price is currently £1:$1.2487 meaning I now need to sell for £80.08 to make $100.  Really simple maths, it really is.

You are correct except that you are ignoring the fact that their manufacturing costs have also fallen substantially. Apple's products are largely manufactured in China, and the USD/CNY rate has increased by ~15% over the last year. So effectively their manufacturing costs have been cut by 15%.

So let's assume, just as an example, that your original $100 price is made up of $50 cost and $50 gross margin. Your $50 cost figure has since fallen to $42.50, meaning you need to get $92.50 to maintain your $50 margin. So, using your exchange rates above, the price needs to increase from £64.52 to £74.08 in order to make the same USD profit. So you are correct that the price needs to rise, but incorrect by how much.

By increasing it to £80.08 and ignoring the inherent drop in manufacturing costs then you are profiteering purely by way of maintaining top line turnover figures. If you continue to sell for $100 when your costs have fallen to $42.50 then your margin has risen from $50 to $57.50 at a stroke.

So you and this other chap are both right and wrong. Prices do need to rise in GBP due to the exchange rate variance but there is also an element of profiteering if you base that calculation purely on the sales revenue figure without factoring in the other elements.


I’m not prejudiced, I hate everybody equally

Share this post


Link to post
Share on other sites
13 hours ago, Griff9of13 said:

Unemployed from January 2016 to October 2016. Reason given by numerous recruiters; "no one is committing to large IT projects right now because of the uncertainty over brexit."

I'm a recruiter and that is just an easy way of fobbing you off.

Share this post


Link to post
Share on other sites
2 hours ago, JohnM said:

Quick question. Can those of you Remainers who have FTSE -tracking pension funds comment on their performance post-Brexit?

But we're not post Brexit


“Few thought him even a starter.There were many who thought themselves smarter. But he ended PM, CH and OM. An Earl and a Knight of the Garter.”

Clement Attlee.

Share this post


Link to post
Share on other sites
1 hour ago, Derwent said:

You are correct except that you are ignoring the fact that their manufacturing costs have also fallen substantially. Apple's products are largely manufactured in China, and the USD/CNY rate has increased by ~15% over the last year. So effectively their manufacturing costs have been cut by 15%.

So let's assume, just as an example, that your original $100 price is made up of $50 cost and $50 gross margin. Your $50 cost figure has since fallen to $42.50, meaning you need to get $92.50 to maintain your $50 margin. So, using your exchange rates above, the price needs to increase from £64.52 to £74.08 in order to make the same USD profit. So you are correct that the price needs to rise, but incorrect by how much.

By increasing it to £80.08 and ignoring the inherent drop in manufacturing costs then you are profiteering purely by way of maintaining top line turnover figures. If you continue to sell for $100 when your costs have fallen to $42.50 then your margin has risen from $50 to $57.50 at a stroke.

So you and this other chap are both right and wrong. Prices do need to rise in GBP due to the exchange rate variance but there is also an element of profiteering if you base that calculation purely on the sales revenue figure without factoring in the other elements.

Apple has several EU companies and shifts money around. I've no doubt it holds large reserves to trade on the exchange.

Share this post


Link to post
Share on other sites
3 hours ago, JohnM said:

Quick question. Can those of you Remainers who have FTSE -tracking pension funds comment on their performance post-Brexit?

Its doing great thank you.


With the best, thats a good bit of PR, though I would say the Bedford team, theres, like, you know, 13 blokes who can get together at the weekend to have a game together, which doesnt point to expansion of the game. Point, yeah go on!

Share this post


Link to post
Share on other sites
12 hours ago, AlexHaldane said:

Currently half of what you said it was. What is the inflation rate in Greece? Are you seriously saying domestic inflation does not affect the cost of living?

 

Eh?

What is half of what I said it was?

Inflation has nothing to do with this. It is my INCOME that has been reduced by 15 - 20% in the space of about 13 months.

I am seriously saying that domestic inflation has absolutely nothing to do with my income.

I simply do not understand why you cannot grasp this very simple point. In Dec 2015, I transferred 1000GBP and received 1373EUR. In Feb 2016, I transferred 1000GBP and received 1171EUR. That is 14.7%.

 


Rethymno Rugby League Appreciation Society

Founder (and, so far, only) member.

Share this post


Link to post
Share on other sites

So for those remainers in the UK with tracker pension funds, and there are several on here I know,  the world hasn't ended after all! Funny that's not bern mentioned up to now.

Edited by JohnM

Four legs good - two legs bad

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...