RickyD Posted November 17, 2016 Share Posted November 17, 2016 Architect of Bank of England Independence Ed Balls Urges Rethink: http://www.bloomberg.com/news/articles/2016-11-17/architect-of-bank-of-england-independence-ed-balls-urges-rethink Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted November 17, 2016 Share Posted November 17, 2016 18 hours ago, interestrateripoff said: Mark Carney says central banks not to blame for rising inequality Simple answer to that one. LIAR. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted November 17, 2016 Share Posted November 17, 2016 2 hours ago, RickyD said: Architect of Bank of England Independence Ed Balls Urges Rethink: http://www.bloomberg.com/news/articles/2016-11-17/architect-of-bank-of-england-independence-ed-balls-urges-rethink Austerity no good? Not what he was saying last year. https://www.theguardian.com/politics/2015/apr/13/ed-balls-labour-will-eliminate-budget-deficit-by-2020 Quote Ed Balls has delivered an unequivocal commitment that Labour would eliminate the current budget deficit and even deliver a surplus by 2020, in a toughening of the party’s language on public finances. The shadow chancellor moved to counter Tory accusations that Labour was failing to set a deadline as he said the end of the next parliament was the party’s definitive “backstop” to eliminate the current budget deficit. Speaking on the Today programme on BBC Radio 4 ahead of the launch of the Labour manifesto in Manchester, the shadow chancellor said: “Our intention is to get the current budget back into surplus and the national debt falling by the end of the parliament and earlier if we can. I would like to do it faster and get to a bigger surplus, but of course that will depend upon what happens to the economy and wages. “I made a commitment yesterday that our goal will be £7.5bn a year extra coming in from tackling tax avoidance and tax evasion. If we can do that by the middle of the parliament that will enable me to get the deficit down earlier, but clearly that is an ambitious goal. That is why our backstop is by the end of the parliament unequivocally.” Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted November 17, 2016 Author Share Posted November 17, 2016 Colder weather helps UK retail sales growth to 14-year high - ONS LONDON British retail sales rose at their fastest annual rate in more than 14 years in October as cold weather and Halloween boosted sales, but economists said Brexit effects were likely to weigh on spending next year. Quote Link to comment Share on other sites More sharing options...
thewig Posted November 17, 2016 Share Posted November 17, 2016 fcking Halloween, somehow this became a thing in our house this year, I reluctantly bought a few pumpkin and some sparklers and other nondescript TAT on the orders of the wife. god damit I hate these manufactured consumer events. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted November 17, 2016 Share Posted November 17, 2016 (edited) 1 hour ago, thewig said: fcking Halloween, somehow this became a thing in our house this year, I reluctantly bought a few pumpkin and some sparklers and other nondescript TAT on the orders of the wife. god damit I hate these manufactured consumer events. We call them Hallmark Anniversaries. There's one every six weeks or so, a 'compulsory' celebration usually involving the purchase of cards/gifts. Anything to pressure you into spending like a robot all year round. Christmas, New Year, Valentine's Day, Mother's Day, Easter, Father's Day, Halloween, and latterly Black Friday. Grandparenting Day in early September hasn't really taken off in the UK yet. The ideal fill-in between Father's Day and Halloween for retailers. Edited November 17, 2016 by zugzwang Quote Link to comment Share on other sites More sharing options...
Bear Hug Posted November 17, 2016 Share Posted November 17, 2016 8 minutes ago, zugzwang said: We call them Hallmark Anniversaries. There's one every six weeks or so, a 'compulsory' celebration usually involving the purchase of cards/gifts. Anything to pressure you into spending like a robot all year round. Christmas, New Year, Valentine's Day, Mother's Day, Easter, Father's Day, Halloween, and latterly Black Friday. Grandparenting Day in early September hasn't really taken off in the UK yet. The ideal fill-in between Father's Day and Halloween for retailers. Never mind all these, I still don't get the point of the whole "birthday" thing. Quote Link to comment Share on other sites More sharing options...
billybong Posted November 18, 2016 Share Posted November 18, 2016 (edited) 19 hours ago, onlyme2 said: Simple answer to that one. LIAR. If only to add the words bare faced. I believe even the BIS of which he is a director admits as much. Edited November 18, 2016 by billybong Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 18, 2016 Share Posted November 18, 2016 14 hours ago, interestrateripoff said: Colder weather helps UK retail sales growth to 14-year high - ONS LONDON British retail sales rose at their fastest annual rate in more than 14 years in October as cold weather and Halloween boosted sales, but economists said Brexit effects were likely to weigh on spending next year. The MSM just get more and more bizare Quote Link to comment Share on other sites More sharing options...
zugzwang Posted November 18, 2016 Share Posted November 18, 2016 14 hours ago, interestrateripoff said: Colder weather helps UK retail sales growth to 14-year high - ONS LONDON British retail sales rose at their fastest annual rate in more than 14 years in October as cold weather and Halloween boosted sales, but economists said Brexit effects were likely to weigh on spending next year. Osborne's echo housing bubble is still roaring away... East Europeans continue to pour into the UK unchecked... Hammond is spending like a drunken sailor... money is fleeing China in record amounts as the yuan collapses... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 18, 2016 Share Posted November 18, 2016 14 hours ago, thewig said: fcking Halloween, somehow this became a thing in our house this year, I reluctantly bought a few pumpkin and some sparklers and other nondescript TAT on the orders of the wife. god damit I hate these manufactured consumer events. With you on that. All the neigbnours decorated their houses. People really are f**king stupid. Quote Link to comment Share on other sites More sharing options...
darkmarket Posted November 18, 2016 Share Posted November 18, 2016 https://www.theguardian.com/business/2016/nov/18/low-interest-rates-inequality-bank-of-england-ben-broadbent http://www.standard.co.uk/news/politics/bank-of-england-chief-steps-up-attack-on-theresa-may-s-claim-that-low-interest-rates-hit-poorest-a3399081.html Broadbent taking May to task for choosing inequality as a line of attack on low interest rates. An irrelevant distraction by way of criticism, and an argument the Bank will easily win. Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted November 18, 2016 Share Posted November 18, 2016 So, manipulating interest rates since 2001 has had nothing to do with the increase of housing prices way, way above inflation, in most cases in the 100's%. I suppose the advantage in being "independent" is that when you are a blatant liar you can't be booted out by the public. Absolutely not a quiver of responsibility for their actions, scandalous. “I doubt that any independent decision of monetary authorities, the MPC (Monetary Policy Committee) included, has that much bearing on the behaviour of real asset prices over long periods of time, or any distributional consequences that follow. Quote Link to comment Share on other sites More sharing options...
darkmarket Posted November 18, 2016 Share Posted November 18, 2016 6 minutes ago, onlyme2 said: So, manipulating interest rates since 2001 has had nothing to do with the increase of housing prices way, way above inflation, in most cases in the 100's%. That's why William Hague's challenge was so much more effective than May's. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted November 21, 2016 Author Share Posted November 21, 2016 UK to raise deposit guarantee after pound's Brexit plunge LONDON The Bank of England (BoE) has proposed raising the guarantee on bank account deposits back to 85,000 pounds from Jan. 30, 2017, to reflect the sharp fall in sterling following Britain's vote to leave the European Union. Up and down like a yo-yo! Quote Link to comment Share on other sites More sharing options...
darkmarket Posted November 22, 2016 Share Posted November 22, 2016 "Mark Carney Hands His Gold Card to the Bankers Lloyds Banking Group Plc, Britain's biggest mortgage lender, is in pole position to buy Bank of America Corp.'s 7 billion-pound U.K. credit card business, MBNA, according to the FT. It's a deal with quite a few risks. Whoever buys it might have to compensate more customers for the mis-selling of payment-protection insurance, the U.K.'s costliest finance scandal. There's also the question of Britain's uncertain economic future as it prepares to leave the EU. Loan losses may rise. But there's a sweetener here in the form of Carney's Term Funding Scheme. The 100 billion-pound ($124 billion) facility offers banks the chance to borrow for four years at about 0.25 percent. That's much cheaper than MBNA's internal funding line of about 1.5 percent in 2015, according to UBS estimates. With 4.2 billion pounds of internal funding to be refinanced, ultra-cheap credit will be useful." https://www.bloomberg.com/gadfly/articles/2016-11-21/mark-carney-hands-a-gold-card-to-the-banks Central bank creates money. Bank borrows that money, pays 0.25% interest, takes over £7bn (really?) of UK private debt. Consumer borrows that money and pays ~20% interest, buys overpriced designer brands, posts to Instagram. Everyone wins? Quote Link to comment Share on other sites More sharing options...
nome Posted November 22, 2016 Share Posted November 22, 2016 On 17/11/2016 at 8:49 PM, thewig said: fcking Halloween, somehow this became a thing in our house this year, I reluctantly bought a few pumpkin and some sparklers and other nondescript TAT on the orders of the wife. god damit I hate these manufactured consumer events. I still recall how back at Easter time they were reporting that "retail spending has been given a boost thanks to the increased demand for hot cross buns"... I honestly thought it was a joke, but no it was a genuine financial news story! It shows just how completely f****d our economy really is when people buying a few extra hot cross buns can have a noticeable impact on retail sales figures! Quote Link to comment Share on other sites More sharing options...
One-percent Posted November 22, 2016 Share Posted November 22, 2016 On 17/11/2016 at 8:49 PM, thewig said: fcking Halloween, somehow this became a thing in our house this year, I reluctantly bought a few pumpkin and some sparklers and other nondescript TAT on the orders of the wife. god damit I hate these manufactured consumer events. You did it all wrong. The English version of Halloween pumpkins (which we got ready for guy Faulks) were turnip lanterns. http://www.mysteriousbritain.co.uk/october/turnip-lanterns.html after carving out one of these, the kids will no longer pester you. Quote Link to comment Share on other sites More sharing options...
darkmarket Posted November 27, 2016 Share Posted November 27, 2016 "Mark Carney 'plans to keep Britain in EU single market until 2021', putting Bank of England on collision course with Theresa May over Brexit terms The Governor of the Bank of England has held a series of private meetings with bankers and business leaders imploring them to demand that Britain has single market access after Britain leaves the EU in 2019, according to the Sunday Times." http://www.telegraph.co.uk/business/2016/11/27/mark-carney-plans-keep-britain-eu-single-market-2021/ Just an independent technocrat, not political at all. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted November 28, 2016 Author Share Posted November 28, 2016 Best for UK economy to keep rates on hold, says BoE's Vlieghe SHEFFIELD, England The highly uncertain outlook for Britain's economy as the country prepares to leave the European Union means the Bank of England should keep interest rates on hold, one of the bank's top policymakers said on Monday. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted November 28, 2016 Author Share Posted November 28, 2016 BoE's Vlieghe says more cautious about raising rates than holding SHEFFIELD, England Bank of England policymaker Gertjan Vlieghe said on Monday he still believed it was better to act with more caution about tightening monetary policy than keeping interest rates at very low levels. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted November 29, 2016 Author Share Posted November 29, 2016 Bank of England rate setter hits back at PM's complaint about savers The external Monetary Policy Committee member said such gripes reflect only a partial view of the financial position of savers Quote Link to comment Share on other sites More sharing options...
Digsby Posted November 29, 2016 Share Posted November 29, 2016 40 minutes ago, interestrateripoff said: Bank of England rate setter hits back at PM's complaint about savers The external Monetary Policy Committee member said such gripes reflect only a partial view of the financial position of savers People like us don't exist, see Quote Link to comment Share on other sites More sharing options...
Noallegiance Posted November 30, 2016 Share Posted November 30, 2016 8 hours ago, interestrateripoff said: Bank of England rate setter hits back at PM's complaint about savers The external Monetary Policy Committee member said such gripes reflect only a partial view of the financial position of savers Erm. Cart before horse, anyone? Ffs Quote Link to comment Share on other sites More sharing options...
Noallegiance Posted November 30, 2016 Share Posted November 30, 2016 It's OK everyone. Mark's being vigilant again. http://www.bbc.co.uk/news/business-38155178#comment_125882346 Quote Link to comment Share on other sites More sharing options...
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