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No More Bofe Or Ecb Printy Printy, Says Poll


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#1 inflating

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Posted 29 March 2012 - 09:57 AM

http://uk.reuters.co...E82R0WS20120328

(Reuters) - The European Central Bank and Bank of England have probably reached the end of their campaign to prime the banking system with hundreds of billions of euros and pounds, a Reuters poll showed on Wednesday.

A further loosening in monetary policy by the two central banks is seen as unlikely after several years on a crisis footing. Most economists said they would digest how their economies fare over the next couple of years before acting again.


Probably :D

#2 Bloo Loo

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Posted 29 March 2012 - 10:03 AM

ah, the polled believe everything is fixed.

The plan is working.

better borrow some money to invest!
WARNING

Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it





#3 zebbedee

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Posted 29 March 2012 - 10:08 AM

This a couple of days after the Ben Bernanke says they WILL print until the markets stop falling and to hell with the currency. ;) I know what I believe, a junky only needs one more hit.
As I wandered in the darkness a voice came unto me, it said "smile, be happy, things could get worse". So I smiled and was happy and behold, things did get worse.

"Credit is indeed vital to an economy, but it does not constitute an economy within itself. ... When businesses borrow to fund capital investments, the extra cash flows that result are used to repay the loans. When individuals borrow to spend, loans can only be repaid out of reduced future consumption."-Peter Schiff, Jan 19 2009; <a href="http://www.321gold.c...iff011909.html" My link

"The bold effort the present bank had made to control the government... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."-Andrew Jackson on the Second Bank of the United States

"The problem with socialism is that eventually you run out of other people's money."-Margaret Thatcher

"If tyranny and oppression come to this land, it will be in the guise of fighting a foreign enemy. Of all the enemies to public liberty, war is perhaps the most to be dreaded because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes; and armies, and debts, and taxes are the known instruments for bringing the many under the domination of the few. The loss of liberty at home is to be charged to the provisions against danger, real or imagined, from abroad." - James Madison

"Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof."
John Kenneth Galbraith

#4 satch

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Posted 29 March 2012 - 10:12 AM

This a couple of days after the Ben Bernanke says they WILL print until the markets stop falling and to hell with the currency. ;) I know what I believe, a junky only needs one more hit.

From SKY

OECD forecasters say Britain is in recession

Merv, get that printer fired up we need to be up to £500bn by the end of the year

Edited by satch, 29 March 2012 - 10:12 AM.

George Osborne July 2013; 'I don't think in the current environment a house price bubble is going to emerge in 18 months or three years.' Mark Carney September 2013; ' ... there has been an improvement in prices and activity (talking about the housing market) Osborne to cabinet as quoted in the Indie October 2013; "Hopefully we will get a little housing boom & everyone will be happy"

Osborne says; “Printing money is the last resort of desperate governments when all other policies have failed.”

George Osborne December 2008; “Savers and pensioners are the forgotten victims … They are innocent bystanders and it’s simply not good enough for the Government to walk on by."

In his 1997 Budget speech, Gordon Brown said, "I will not allow house prices to get out of control and put at risk the sustainability of the future". He went on to say that he did not want a return to "instability, speculation and negative equity" of the 1980's and 1990's.

#5 inflating

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Posted 29 March 2012 - 10:20 AM

UK back in recession http://www.telegraph...-says-OECD.html
In a major blow for the Chancellor, the Organisation for Economic Co-operation and Development (OECD) has calculated that the UK economy shrank in the first three months of the year..... After three months of negative growth at the end of last year, that would mean the UK has double-dipped back into a recession.

No more printy printy, despite this? Junkie going cold turkey, at long last?

#6 Sour Mash

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Posted 29 March 2012 - 10:29 AM

About the only thing this poll tells us is that 'most economists' don't have a clue.

The printing will continue until the debts are magicked away (with trillions of bad bank debt, this will be a looooong way away) or the system collapses .. whichever is first.

Plus ça change, plus c'est la même chose

#7 Killer Bunny

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Posted 29 March 2012 - 11:00 AM

CORRECTED

(Reuters) - The European Central Bank and Bank of England have probably reached the end of their campaign to prime the banking system with hundreds of billions of euros and pounds, a Reuters poll showed on Wednesday.

A further loosening in monetary policy by the two central banks is seen as unlikely after several years on a crisis footing. Most economists said they would digest how their economies STOCK MARKETS fare over the next couple of years WEEKS AND MONTHS before acting PRINTING WITH ABANDON again.


“In economics things take longer to happen than you think they will, and then they happen faster than you thought they could.” Rudiger Dornbusch
Cap'n, you cannae change the laws of... Economics!
"If they raise rates we're toast. If they don't its BECAUSE we're toast" Pundit: Sky News March 2011
"If something cannot go on forever, it will stop." H
erb Stein
 


#8 okaycuckoo

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Posted 29 March 2012 - 01:40 PM

I do think QE will last for another 10+ years, but they have to take time to figure out the lasting effect on commodities and consumption.

My guess is the Fed will talk about it for the rest of year, then deliver the next round when Obama is elected again.

#9 zugzwang

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Posted 29 March 2012 - 02:38 PM

I do think QE will last for another 10+ years, but they have to take time to figure out the lasting effect on commodities and consumption.

My guess is the Fed will talk about it for the rest of year, then deliver the next round when Obama is elected again.



Maybe we'll have more QE, but not as you say until after Barry's 2nd coronation.

And maybe next time it won't be QE at all, but a more direct form of monetisation?

But job Number One for the Fed (and the BoE) is the bond market. Yields on the 10 yr are creeping up, in the US at least, which neither can afford. I think Benny and Mervo will pull the rug from under the fraudexes and chase a lot of institutional money back into fixed income by declaring *QE: Mission Accomplished* this Spring. Selling the QE maturities back to the banks and pension funds could help cement the deal.

It's putting lipstick on a pig, of course. But what other options do they have? More energy inflation at this point would be calamitous.

zugzwang (n.) a situation where every possible move or decision is a bad one, or one that will result in damage or loss.

 

It's not a recovery, it's a relapse.


#10 scepticus

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Posted 29 March 2012 - 03:21 PM

I do think QE will last for another 10+ years, but they have to take time to figure out the lasting effect on commodities and consumption.

My guess is the Fed will talk about it for the rest of year, then deliver the next round when Obama is elected again.


Sounds about right.

The real fun is what to do when all the bonds have been bought up and they still want to inject some extra liquidity, or to try and facilitate lower real rates, and the treasury is refusing to run a deficit.




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