Noallegiance Posted February 7, 2017 Share Posted February 7, 2017 1 minute ago, darkmarket said: MPC member breaking ranks on looking through inflation: "There is a chance, however, that these recent upside surprises are a precursor to more evidence that inflation is accelerating faster than expected and will overshoot the 2% target by more than in the MPC’s consensus forecast. If these trends in both the real and nominal data are solidified, it will become increasingly difficult for me to justify tolerating such a large and likely overshoot of inflation - especially when compared to such a small and uncertain softening in growth and unemployment." http://www.bankofengland.co.uk/publications/Documents/speeches/2017/speech959.pdf Increasingly difficult, but not impossible. I'm finding playing football increasingly difficult, but I still do it. Quote Link to comment Share on other sites More sharing options...
darkmarket Posted February 7, 2017 Share Posted February 7, 2017 1 minute ago, Noallegiance said: Increasingly difficult, but not impossible. Suggests a certain pressure to agree with the prevailing view. Quote Link to comment Share on other sites More sharing options...
Little Frank Posted February 7, 2017 Share Posted February 7, 2017 3 hours ago, darkmarket said: MPC member breaking ranks on looking through inflation: "There is a chance, however, that these recent upside surprises are a precursor to more evidence that inflation is accelerating faster than expected and will overshoot the 2% target by more than in the MPC’s consensus forecast. If these trends in both the real and nominal data are solidified, it will become increasingly difficult for me to justify tolerating such a large and likely overshoot of inflation - especially when compared to such a small and uncertain softening in growth and unemployment." http://www.bankofengland.co.uk/publications/Documents/speeches/2017/speech959.pdf  Good cop bad cop. Just enough to keep market guessing. She'd be outvoted anyway. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 8, 2017 Author Share Posted February 8, 2017  Bank warns 'lax financial rules' are a route to failure  The BoE's deputy governor warns against abandoning bank rules amid claims the UK could become an offshore tax haven. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 8, 2017 Author Share Posted February 8, 2017 Â Bank of England No big pay rises for Britons, report says IFS UK tax burden to soar to highest level for 30 years Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 8, 2017 Author Share Posted February 8, 2017 BoE's Cunliffe warns against diluting global banking rules Quote Link to comment Share on other sites More sharing options...
zugzwang Posted February 8, 2017 Share Posted February 8, 2017 2 hours ago, interestrateripoff said: BoE's Cunliffe warns against diluting global banking rules Quote "One doesn't become successful as an international center by having lax standards and by being open to crises and regulatory arbitrage," Cunliffe said. Jon Cunliffe, the innumerate bozo who was Second Permanent Secretary to the Treasury and Managing Director of Macroeconomic Finance under Gordon Brown. Quote Link to comment Share on other sites More sharing options...
billybong Posted February 8, 2017 Share Posted February 8, 2017 (edited) 2 hours ago, interestrateripoff said:  Bank warns 'lax financial rules' are a route to failure  The BoE's deputy governor warns against abandoning bank rules amid claims the UK could become an offshore tax haven. ^ Quote  Sir Jon's comments come after suggestions that if Britain did not secure a good trade deal with the European Union following Brexit, the UK could become an offshore tax haven - encouraging businesses and banks to move to the country to avoid tougher regulations elsewhere.  One suspects full tax haven status was in the pipeline whether in or out of the eu.  It's been headed that way for years now including "encouraging businesses and banks to move to the country to avoid tougher regulations elsewhere.". Maybe they have no recollection of events? Along with printing money it's one of the last resorts of desperate governments.  That and turning an economy into a speculative casino. Edited February 8, 2017 by billybong Quote Link to comment Share on other sites More sharing options...
ChewingGrass Posted February 8, 2017 Share Posted February 8, 2017 2 hours ago, interestrateripoff said: Â Bank of England No big pay rises for Britons, report says IFS UK tax burden to soar to highest level for 30 years If you work for a living it is now becoming pointless putting the extra effort in when extra hours worked are paid at flat rate if at all. Once the magic threshold which hasn't risen for years is crossed you actually net less per hour and I have come to the conclusion that my time is worth more than that to me. As a skilled engineer I am actually considering lowering my retirement expectations significantly to get out earlier before the government and lousy employers grind the life out of me completely and this view is increasingly common amongst my peers. Accordingly, I now minimise my economic expenditure, so no new cars, used mobiles, low powered netbooks and only replacing stuff when it breaks is the order of the day. Therefore I am effectively reducing my contribution to GDP as much as possible in order to maximise my chances of gaining my economic freedom. Quote Link to comment Share on other sites More sharing options...
Venger Posted February 9, 2017 Share Posted February 9, 2017 @ChewingGrass Such measures are one way to protest economic policies that we disagree with, to try and force change.  Options.  Although so many different market views and positions, who choose to consume and lay claim to more and more, in belief it's stable good times for them. Choices in a market imo. Quote balk at attempts to stimulate aggregate demand via inflationary policy of negative real interest rates, and raising real interest rates by reducing inflation through lower aggregate demand. This is perhaps the most unappreciated yet significant market development since the financial crisis.  Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 13, 2017 Author Share Posted February 13, 2017 UK consumer spending slumps to five-month low after Christmas boom Purchasing power will be squeezed further by the weakened pound in 2017, Visa said Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 13, 2017 Author Share Posted February 13, 2017 British factory input prices may clobber manufacturing investment  LONDON Reuters polls are forecasting that British factory input prices will show an 18.3 percent year-on-year increase In January, up from 15.8 percent a month earlier, when they are released on Tuesday. Quote Link to comment Share on other sites More sharing options...
LC1 Posted February 18, 2017 Share Posted February 18, 2017 https://www.theguardian.com/business/2017/feb/18/interest-rates-bank-of-england-wont-rise-soon-kristin-forbes Forbes, a US academic who craves a return to the “economic normality” of 4%-5% base rates, has consistently called for an increase, though never actually voted for one. Glad she's fugging off back to the US, useless bint. Quote Link to comment Share on other sites More sharing options...
Tapori Posted February 19, 2017 Share Posted February 19, 2017 On 2/2/2017 at 1:40 PM, billybong said: ^ It all sounds a bit too pass the parcel to be a sensible way to be running things especially things linked to a major economy.  It might be a way to run a kids' game at a local garden fete - but not Britain's economy. They are both BoE bodies and he's governor of the BoE and the new set up was supposed to avoid separation of responsibility.  When the next crisis hits it sounds like they'll be using the same excuses as the last crisis and all washing their hands of any responsibility.  Still they gets Mo'  Money though their explanations be so funny. Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 19, 2017 Share Posted February 19, 2017 On 08/02/2017 at 11:12 PM, ChewingGrass said: If you work for a living it is now becoming pointless putting the extra effort in when extra hours worked are paid at flat rate if at all. Once the magic threshold which hasn't risen for years is crossed you actually net less per hour and I have come to the conclusion that my time is worth more than that to me. As a skilled engineer I am actually considering lowering my retirement expectations significantly to get out earlier before the government and lousy employers grind the life out of me completely and this view is increasingly common amongst my peers. Accordingly, I now minimise my economic expenditure, so no new cars, used mobiles, low powered netbooks and only replacing stuff when it breaks is the order of the day. Therefore I am effectively reducing my contribution to GDP as much as possible in order to maximise my chances of gaining my economic freedom. Thats Brown. Destroyed the UK private sector workforce. Pumped up public sector. Quote Link to comment Share on other sites More sharing options...
billybong Posted February 19, 2017 Share Posted February 19, 2017 (edited) 16 hours ago, Tapori said:  Still they gets Mo'  Money though their explanations be so funny. Indeed they have a cushy well paid job where incompetents and self servers thrive at everyone else's expense. Even their most crazy explanations get treated by other bankers, by some politicians and in most of the MSM etc as high wisdom.  Yet the failure is plain to see from the British economy - and all problems being solved by abnormal and outlandish interest rates, brushing off responsibility, yet more debt, QE, more boosts to house prices, bailouts, not spotting banking fraud, yet more ponzi and by statistical manipulation and suchlike.  If the BoE not always directly involved then associated with it. There was little opposition to the BoE officially taking over the responsibility in 1997 (in those days it was nothing could be worse than the Chancellors - but little did people know and at least with the Chancellors people had a vote) but it's been clear for years now that the BoE is not up to the task and they've just used the opportunity to line their own pockets.  In handing them the responsibility Britain was done a huge disservice - a disservice only matched by the level of incompetence and self serving of British politicians in supervising and monitoring the BoE's operations and outcomes. Edited February 19, 2017 by billybong Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted February 19, 2017 Share Posted February 19, 2017 The relationship between the govt, BOE and the public is a lie. The BOE are pretending to be independent. No accountability either for them or the government over the short and long term mess they make as a result of direct market manipulation. Â Quote Link to comment Share on other sites More sharing options...
dpg50000 Posted February 20, 2017 Share Posted February 20, 2017 (edited) On 08/02/2017 at 11:12 PM, ChewingGrass said: If you work for a living it is now becoming pointless putting the extra effort in when extra hours worked are paid at flat rate if at all. Once the magic threshold which hasn't risen for years is crossed you actually net less per hour and I have come to the conclusion that my time is worth more than that to me. As a skilled engineer I am actually considering lowering my retirement expectations significantly to get out earlier before the government and lousy employers grind the life out of me completely and this view is increasingly common amongst my peers. Accordingly, I now minimise my economic expenditure, so no new cars, used mobiles, low powered netbooks and only replacing stuff when it breaks is the order of the day. Therefore I am effectively reducing my contribution to GDP as much as possible in order to maximise my chances of gaining my economic freedom. Yep, that's the majority view amongst my middle aged (I.T.)Â engineering friends too. Have a life whilst you can. basically. Edited February 20, 2017 by dpg50000 Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 20, 2017 Share Posted February 20, 2017 1 hour ago, dpg50000 said: Yep, that's the majority view amongst my middle aged (I.T.) engineering friends too. Have a life whilst you can. basically. Tax credit and credit pumped house prices. Already dragged low and middle earners onto benefits. Now causing higher earners to jack it in. I know someone who jacked a high paid job in to go and work at a care home. People really dont grasp the full extent of what Brown did. And how damaging everything he did was.  Quote Link to comment Share on other sites More sharing options...
Errol Posted February 20, 2017 Share Posted February 20, 2017 On 08/02/2017 at 11:12 PM, ChewingGrass said: If you work for a living it is now becoming pointless putting the extra effort in when extra hours worked are paid at flat rate if at all. Once the magic threshold which hasn't risen for years is crossed you actually net less per hour and I have come to the conclusion that my time is worth more than that to me. As a skilled engineer I am actually considering lowering my retirement expectations significantly to get out earlier before the government and lousy employers grind the life out of me completely and this view is increasingly common amongst my peers. Accordingly, I now minimise my economic expenditure, so no new cars, used mobiles, low powered netbooks and only replacing stuff when it breaks is the order of the day. Therefore I am effectively reducing my contribution to GDP as much as possible in order to maximise my chances of gaining my economic freedom. Good post. Any yes, lots of us are doing this. Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted February 20, 2017 Share Posted February 20, 2017 22 minutes ago, Errol said: Good post. Any yes, lots of us are doing this. Yep. My good self also. Work in the IT arena. Ten years until I'm retiring. Cutting back on all non necessary purchases , have been doing so for last 5 years. Run a 5yr old and a 25yr old car. Decided not to move house.....save the cash. I'm the sort of person that govts THINK will contribute to the increase in GDP. He, he, he....:) Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 20, 2017 Author Share Posted February 20, 2017 UK house price growth at slowest rate in four years Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 20, 2017 Author Share Posted February 20, 2017 UK borrowing and growth better than expected for budget, says report Quote Link to comment Share on other sites More sharing options...
Errol Posted February 21, 2017 Share Posted February 21, 2017 Haha .. Bank of England policymaker: We probably won't forecast the next crisis Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted February 21, 2017 Share Posted February 21, 2017 28 minutes ago, Errol said: Haha .. Bank of England policymaker: We probably won't forecast the next crisis But you'll probably create it. Â Quote Link to comment Share on other sites More sharing options...
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