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About Noallegiance

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  1. If I may: I am no mathematician, but consider myself to be of above average intelligence in terms of understanding ideas, if explained well. The maths on display, to me, was difficult to understand in it's entirety, however I understood enough to come to a conclusion thus; it's irrelevant. Between the lines and deciphering what is being said into simple terms, the BoE uses a model that, like any model, can only use historic data and then attempt to adjust current policy accordingly for the present. It is of little use when attempting to pilot the economy through an unknown future. As such, the consistent use of the phraseology (paraphrased) 'society has decided what the BoE policy is' attempts to lay responsibility for occurrences at the feet of the essentially uncontrollable masses. Yet it doesn't stop them trying. Additionally, when attempting to steer a monetary course, 'society' causes another 'problem' for the BoE; that of freedom of choice. Sound familiar? The Matrix has you. In summary, no decisions made at the BoE are made with any awareness of society as a whole. If they were, they would immediately realise that there is no such thing as 'society as a whole', and that it is not possible to control such things centrally due to the vagaries of choice and reality from person to person. Add in the multitude of contradictions and fact ignorance put across in this allegedly '.....quite brilliant presentation...' and all that remains to say is that if (when) even the simplest of data is 'looked through' by the BoE (indebtedness or inflation, for example) then those very things will cause major problems about which the BoE, like the Fed, will be too far behind the curve to do anything meaningful about. At least, that's my take on what I just heard.
  2. In case anyone is interested, tonight the speech from Carney is entitled 'Inflation Control and Social Choice'. Seems an interesting title.
  3. Quality observation.
  4. Oh you've seen the transcript then?
  5. Placing bets on how many times 'vigilant' appears.
  6. Trump bandwagon. There's traction.
  7. If he's as straight acting as he is straight talking, this will get very interesting.
  8. Catchy
  9. I'm not sure they're mutually exclusive....
  10. Increase in 'Join the army' ads anyone?
  11. At $1.19 it would be around £1005.
  12. First time buyers at record highs Average house prices at record highs FTSE at record highs Dow at record highs Nasdaq at record highs Private debt at record highs Global debt at record highs National debts at record highs Employment at record highs All looks good to me. Pile in folks.