Thursday, Feb 26, 2009
Do you really believe this man?
Ft.com: King prepares for quantitative easing
Mervyn King, Bank of England governor, insisted ...he would not allow ”a great inflationary surge”, as the monetary policy committee prepares to embark on the process of quantitative easing.
Posted by hpwatcher @ 02:04 PM (946 views) Add Comment
10 Comments
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1. hpwatcher said...
I don't think he really knows what he is doing after the ''performance'' of BOE over the last 10 years.
2. penbat1 said...
Is quantitative easing a euphemism for doing a big poo ?
3. Fingerbob69 said...
Merv's statement the he will not allow an inflationary surge as he unleashes QE is frankly a contradiction. One follows the other as surely as night follows day.
4. str 2007 said...
By which measure though CPI or RPI or will they come up with another survey to take into account QE is in progress, so they can still show the figures they wish.
5. paul said...
Is quantitative easing a euphemism for doing a big poo ?
Yes, indeed. I've just eased a fresh quantity of cabling out on its way to the seaside myself.
6. quiet guy said...
Everybody building up a deposit for future house purchases needs a plan to protect themselves now. It's open season on savers.
7. amjidk said...
they will probably include falling house prices in inflation figures and thus claim low inflation...
8. amjidk said...
quiet guy said "Everybody building up a deposit for future house purchases needs a plan to protect themselves now. It's open season on savers."
but how, do we risk it with gold, oil etf's or just keep it in the bank and hope for deflation instead??
9. alan said...
This bit got my attention:
"The governor appeared to criticise the government when he said that the UK had entered the crisis with excessive levels of public borrowing ".
10. quiet guy said...
@amjidk
I certainly wouldn't put it all in the bank or all in gold, oil ETFs or whatever. Personally, I'm hedging using gold but most of my money is in mutual society bonds and banks. My hope is whatever happens, I won't get stung too badly, say losing more than 25% real value. you have to find something you are comfortable with and think of worst case for each type of saving. That's what I was trying to get at when I said have a plan. If inflation really kicks off, property will be worth considering seriously at some point too.
Emigrate?