macca13 Posted June 15, 2017 Share Posted June 15, 2017 Don't know who prints this s**t but they are suggesting a cut and warming up the printing press.. clearly the objective to make themselves more money and screw the rest of us.. https://www.poundsterlinglive.com/gbp-live-today/6989-pound-sterling-today-mansion-house Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted June 15, 2017 Share Posted June 15, 2017 11 minutes ago, macca13 said: Don't know who prints this s**t but they are suggesting a cut and warming up the printing press.. clearly the objective to make themselves more money and screw the rest of us.. https://www.poundsterlinglive.com/gbp-live-today/6989-pound-sterling-today-mansion-house Given the fed rate increase I cant see it, it would end in hyper inflation since gov would be unable to sell gilts (against a backdrop of a plummeting pound and trashed credit rating) and would be forced to QE the entirety of our budget. Quote Link to comment Share on other sites More sharing options...
durhamborn Posted June 15, 2017 Share Posted June 15, 2017 11 minutes ago, macca13 said: Don't know who prints this s**t but they are suggesting a cut and warming up the printing press.. clearly the objective to make themselves more money and screw the rest of us.. https://www.poundsterlinglive.com/gbp-live-today/6989-pound-sterling-today-mansion-house I actually agree with that.Of course we are in a disaster of a situation ,but from a where we are now position tightening will ensure a massive crash.The truth is though it doesnt really matter because the Fed is doing the 1937 tango for us all while playing Sophie Tucker The Lady is a Tramp.We are going over a cliff and nothing will stop it because its too late.I doubt we will see £50 billion QE next.It will be £300 billion+ and pushed straight to government.It wont be base money this time. Sterling might actually recover to $1.35+ before is goes down to what? 80c?.Still at least we made home owners in a few hundred square miles of southern England rich for a few years.It wont be their pension for much longer though.More a mill stone.It shows where we are when it isnt interest rates going to 1/2% that will cause a recession on steroids. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted June 15, 2017 Share Posted June 15, 2017 They would have had access to the dire retail sales numbers released today. Baffling really why they would want to raise rates into a slowling economy. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted June 15, 2017 Share Posted June 15, 2017 10 hours ago, TheCountOfNowhere said: I predict we will see the first rate rise before Christmas ( 2017) In your dreams! Quote Link to comment Share on other sites More sharing options...
mrtickle Posted June 15, 2017 Share Posted June 15, 2017 55 minutes ago, GreenDevil said: In your dreams! My dreams too. That's what I predict also. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 16, 2017 Author Share Posted June 16, 2017 (edited) 9 hours ago, GreenDevil said: In your dreams! Lets see where we are at Christmas. A 0.25% rise will do little bar destroy sentiment, sentiment that's already crumbling. The Torys know the low IRs need to end They know the young vote now needs to be pandered to also. The US set the rates, not the UK. We wont diverge from them. Any notion of the UK being an independent strong powerful nation is in the minds of 70 year old's and the landed gentry. The UK is pathetic now, a grimey hole where all the detritus of the world come so they can get looked after. P.S. One other thing...the bankers need volume to survive, if prices are at a level no one can or wants to move/buy then there is no volume, things will quickly unravel. I suspect that's where we are right now. A collapse in prices is a foregone conclusion, might as well be now. P.P.S. the "interest rates may rises sooner than you think" story is still on the Sky News front page. Sentiment must be going through the floor surely. Edited June 16, 2017 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
btd1981 Posted June 16, 2017 Share Posted June 16, 2017 How do you think the prospect of interest rate rises will play out though? Will the sentiment cause a more 'damped' version of the pre-MIRAS 'buy now or never be able to afford the mortgage payments' surge in prices, before new buyers actually cannot afford the required mortgage payments and prices plummet? Or are people wise this time? (Doubt it) Quote Link to comment Share on other sites More sharing options...
anonlymouse Posted June 16, 2017 Share Posted June 16, 2017 There may possibly be a rush to get in whilst fixed rates are this low, or they may be trepidation towards ending up on the SVR at a point in the future when interest rates have gone up. I think if sentiment bends towards house price deflation soon, then the later is more likely - 'what if our monthly outgoings go up and we're in negative equity' is a different thought process to 'what if my monthly outgoing go up'. Quote Link to comment Share on other sites More sharing options...
Errol Posted June 16, 2017 Share Posted June 16, 2017 (edited) 15 hours ago, GreenDevil said: In your dreams! All men dream: but not equally. Those who dream by night in the dusty recesses of their minds wake in the day to find that it was vanity: but the dreamers of the day are dangerous men, for they may act their dreams with open eyes, to make it possible. T. E. Lawrence Edited June 16, 2017 by Errol Quote Link to comment Share on other sites More sharing options...
disenfranchised Posted June 16, 2017 Share Posted June 16, 2017 Is 5/3 a tactical vote to give the illusion of impending rises in order to strengthen the pound after Thatchers final horcrux screwed up her own coronation / election by saying "strong & stable" too much, not trying hard enough to pretend she wouldnt like to flog the NHS & promising to let tweedy wankers torture wildlife again just because she thought she'd get away with it ? Quote Link to comment Share on other sites More sharing options...
Barnsey Posted June 16, 2017 Share Posted June 16, 2017 Tricky one, does seem the surprise vote was a strengthening tactic however inflation is picking up even faster than gloomily predicted. There's little more that retailers et al can do now to prevent passing on higher costs, we've ridden the "Carry on regardless, Brexit hasn't changed my life" wave now and delayed consumer inflation reality is kicking in. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 17, 2017 Author Share Posted June 17, 2017 That link is still on sky news front page. Make of it what u like. Quote Link to comment Share on other sites More sharing options...
maverick73 Posted June 18, 2017 Share Posted June 18, 2017 The pound is being prop' dip buy the banks sale of its holding of foreign currency reserves to buy sterling. It's also simple to see who voted last months interest rate hike, and notice that two of them are leaving.. nice way to prop up sterling. Kristin Forbes (1 July 2014 – 30 June 2017, external member) Ian McCafferty (1 September 2012 – 31 August 2018, external member) Michael Saunders (9 August 2016 – 9 August 2019, external member) Alias notice that externals voted to raise rates... To be replaced by new friends and family to keep prices high and rates low ? Quote Link to comment Share on other sites More sharing options...
maverick73 Posted June 18, 2017 Share Posted June 18, 2017 On 16/06/2017 at 7:23 AM, TheCountOfNowhere said: Lets see where we are at Christmas. A 0.25% rise will do little bar destroy sentiment, sentiment that's already crumbling. The Torys know the low IRs need to end They know the young vote now needs to be pandered to also. The US set the rates, not the UK. We wont diverge from them. Any notion of the UK being an independent strong powerful nation is in the minds of 70 year old's and the landed gentry. The UK is pathetic now, a grimey hole where all the detritus of the world come so they can get looked after. P.S. One other thing...the bankers need volume to survive, if prices are at a level no one can or wants to move/buy then there is no volume, things will quickly unravel. I suspect that's where we are right now. A collapse in prices is a foregone conclusion, might as well be now. P.P.S. the "interest rates may rises sooner than you think" story is still on the Sky News front page. Sentiment must be going through the floor surely. Agreed sentiment crumbled when more than half of the Brexit voters indicated they don't benefit from being in the EU. Raising interest rates, to reduce costs of major essentials is the only true path to fix the spill over. Quote Link to comment Share on other sites More sharing options...
SOLZHENITSYN Posted June 18, 2017 Share Posted June 18, 2017 It's OK, apparently the exchange-rate related inflation we are seeing cannot be controlled by interest rates, so there's no way the BofE will raise rates. According to this Povertyl8r business man ? https://www.property118.com/5-3-doves-mpc-holds-interest-rate-0-25/100060/#comment-91921 Quote Link to comment Share on other sites More sharing options...
tennaval Posted June 18, 2017 Share Posted June 18, 2017 (edited) given that that 5 of the 9 members work for the bank and that one of them is their boss, rates arn't going to change until Carney wants them to. Edited June 18, 2017 by tennaval Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 18, 2017 Share Posted June 18, 2017 On 15/06/2017 at 10:10 PM, thisisthisitmaybe said: Rates aren't going anywhere, not with our current political turmoil, it was a B of E ploy to give sterling a bit of a leg-up. But rates will have to go up if sterling really tanks, which it will do when Jeremy C = PM. To behonest, rates a will be going up *because* of our political turmoil. BoE either trashes the pound (more). Or puts up IRs andtrashes debt. The big ide of using low IRs and QE to give the UK breathign space to sort out itsbanks and finances has smaked it right i nthe face. Gidiot never managed to sort out the benefits system, so the UK is paying 30% of its population to sit around doing made up jobs. And now Jezza is proclaiming 'No more austerity' Ifthe BoE can print money to bail out banks then it can print money to help poor people and pensioners. How do you argue that? You cannot. The BoE should have have shutdown and the over indebted when QE started. Instead they led more people take on more debt. Total fckup. Quote Link to comment Share on other sites More sharing options...
flb Posted June 18, 2017 Share Posted June 18, 2017 On 6/15/2017 at 10:10 PM, thisisthisitmaybe said: Rates aren't going anywhere, not with our current political turmoil, it was a B of E ploy to give sterling a bit of a leg-up. But rates will have to go up if sterling really tanks, which it will do when Jeremy C = PM. So, never? Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 19, 2017 Share Posted June 19, 2017 Silvana Tenretro is the new external mpc member. What do we know about her? Quote Link to comment Share on other sites More sharing options...
scottbeard Posted June 19, 2017 Share Posted June 19, 2017 On 16/06/2017 at 7:23 AM, TheCountOfNowhere said: The UK is pathetic now, a grimey hole where all the detritus of the world come so they can get looked after. Not true. For starters, different parts of the UK are so different to each other: some inner city areas might be "grimey holes" but most parts of most UK towns are really rather nice places to live. And almost everyone who comes to the UK does so to either work or study, not be "looked after". Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 19, 2017 Author Share Posted June 19, 2017 23 minutes ago, scottbeard said: Not true. For starters, different parts of the UK are so different to each other: some inner city areas might be "grimey holes" but most parts of most UK towns are really rather nice places to live. And almost everyone who comes to the UK does so to either work or study, not be "looked after". And your source of the info ? Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 19, 2017 Share Posted June 19, 2017 1 hour ago, Si1 said: Silvana Tenretro is the new external mpc member. What do we know about her? Shes Argentinian. I think. Maybe thats the future of the UK economy/debt? Quote Link to comment Share on other sites More sharing options...
darkmarket Posted June 19, 2017 Share Posted June 19, 2017 1 hour ago, Si1 said: Silvana Tenretro is the new external mpc member. What do we know about her? Dovish appointment, she went as far as supporting negative rates in theory. She has worked on housing specifically in the past: http://personal.lse.ac.uk/tenreyro/housing1.pdf The paper looks at why seasonality isn't offset despite buyers / sellers being able to predict the spring bounce effect, and claims there are externalities from the 'thin' and 'thick' seasons that could be the subject of further research. Maybe the hope is she'll use her dovish magic to make a spring bounce that lasts all year, bonus points for helping with Carney's gender equality targets. Good news for the recklessly indebted. Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 19, 2017 Share Posted June 19, 2017 14 minutes ago, darkmarket said: . She has worked on housing specifically in the past: http://personal.lse.ac.uk/tenreyro/housing1.pdf The paper looks at why seasonality isn't offset despite buyers / sellers being able to predict the spring bounce effect, and claims there are externalities from the 'thin' and 'thick' seasons that could be the subject of further research. Externalities being nesting instinct, drunken Christmas parties and new year's resolutions? Quote Link to comment Share on other sites More sharing options...
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