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Boe Let Slip That Remit Is To Support House Prices

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With thanks to Alice at Bubble blog

http://ukhousebubble.blogspot.com/2009/06/...ary-policy.html

MPC member Andrew Sentance in reference to money printing and 0.5% rates...

sure, what do you think caused the failure....its the ASSETS that banks have based their entire wealth on that need to be stabilised...as the further they fall, the worse their balance sheets look.

course, its the american ones they are really worried about, as there was NO subprime in the UK.

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I can't understand why a handful of people on here think the economy in UK should collapse to appease them.

This is way past green shoots now.

Explain to the forum what drove the economy pre-crash...

And to steer you a bit in the right direction, what is good about forever rising house prices?

Finally, how much did you pay for your first house?

Edited by cashinmattress

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this is no joke

i have had an offer accepted on a house.. hoping it goes through

i sold in 2004... too early.. i'm probably buying too early

but i saw a house i love and negotiated a discount and have baby on the way and happy to live their for the rest of my life

and... i am scared ... i read the minutes and the inflation report

AND THEY ARE TRYING TO BOOST ASSET PRICES AND PUNISH SAVERS!

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ralphmalph, what were you dissin' on my thread? read + weep boy

QUOTE (ralphmalph @ Jun 11 2009, 12:16 AM)

You post is all about HPI, if you can prove to me the BoE want HPI then I will listen but that it not what your post is saying.
Edited by loginandtonic

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I can't understand why a handful of people on here think the economy in UK should collapse to appease them.

This is way past green shoots now.

That is where you are wrong...no one wants the economy to collapse, the only answer for a recovery is for property to reduce in price and/or to build more homes to create stability and security for the people...insecure people = insecure economy.

Why would people put effort into work? when all they see that they want is out of their reach, so in effect they have nothing to work for.

What we have got now is yellow limp weeds, a sprinkling of QE will just about finish them off. ;)

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this is no joke

i have had an offer accepted on a house.. hoping it goes through

i sold in 2004... too early.. i'm probably buying too early

but i saw a house i love and negotiated a discount and have baby on the way and happy to live their for the rest of my life

and... i am scared ... i read the minutes and the inflation report

AND THEY ARE TRYING TO BOOST ASSET PRICES AND PUNISH SAVERS!

why scared?

dont you think that if for one nanosecond they could actually CONTROL the direction of everything that A: we wouldnt be in the mess we are, and B: they would have cured it by now.

they arent n charge. All they can do is engender FEAR in people. FEAR to make many react in the same way. FEAR to make you THINK they are going to take it all away from you.

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this is no joke

AND THEY ARE TRYING TO BOOST ASSET PRICES AND PUNISH SAVERS!

Nationwide just reduced interest rates on ISA Fixed Rate Bonds

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With thanks to Alice at Bubble blog

http://ukhousebubble.blogspot.com/2009/06/...ary-policy.html

MPC member Andrew Sentance in reference to money printing and 0.5% rates...

I replied to this on Digitalspy too, but neglected to read the blog first. I should have done:

“Over the last nine months, the Monetary Policy Committee has been focussed on providing support to demand – through dramatic and unprecedented cuts in interest rates over the autumn and winter – and more recently through our current policy of “Quantitative Easingâ€.

"This programme of substantial asset purchases aims to boost the money supply to support spending in the economy, going beyond the stimulus that can be provided by very low interest rates.

I am confident that these policies will help to support economic recovery – through their effect on asset prices, financial conditions and ultimately spending by households and firms.â€

So, unless the BoE has been buying houses, he's not talking about houses.

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I replied to this on Digitalspy too, but neglected to read the blog first. I should have done:

“Over the last nine months, the Monetary Policy Committee has been focussed on providing support to demand �" through dramatic and unprecedented cuts in interest rates over the autumn and winter �" and more recently through our current policy of “Quantitative Easingâ€.

"This programme of substantial asset purchases aims to boost the money supply to support spending in the economy, going beyond the stimulus that can be provided by very low interest rates.

I am confident that these policies will help to support economic recovery �" through their effect on asset prices, financial conditions and ultimately spending by households and firms.â€

So, unless the BoE has been buying houses, he's not talking about houses.

I think, as I refered above, quite a lot of the assets are houses....US houses.

remember, most banking is based on the recovery value of its financial assets, which again lead back to real borrowers, and real assets.

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I can't understand why a handful of people on here think the economy in UK should collapse to appease them.

This is way past green shoots now.

Appeasement - that's a strange way of looking at it.

I don't want the economy to collapse. I want to be part of an economy that's based on real wealth creation. I want to live in a society where something as basic as shelter is not subject to wild market swings which result in debt based slavery for many of my compatriots. I want a democratic state where the focus is what's best for the long term economic success of the mass of its citizens, not short term political expedience and the profits of spivs.

If that means that people who borrowed or lent too much take a bath then so be it - its called moral hazard. As it is, it doesn't matter what I think. Present prices are unsustainable and will continue to fall until they reach sustainable levels ( and then probably bubble up again at some point in the next 30 years unfortunately).

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I can't understand why a handful of people on here think the economy in UK should collapse to appease them.

This is way past green shoots now.

+1

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+1

what? you cant understand or you think there are green shoots?

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I think what he's trying to say is homeowners want to see you shafted now for trying to talk down the economy.

In laymans terms like. :lol:

What goes around comes around. You have slagged hardworking people off for trying to improve their lot.

Now you're going to get yours.

woof woof....Psssssssssssssssssssss

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I think what he's trying to say is homeowners want to see you shafted now for trying to talk down the economy.

In laymans terms like. :lol:

What goes around comes around. You have slagged hardworking people off for trying to improve their lot.

Now you're going to get yours.

au contrair subley, its that the working (wo)man has been shafted into buying over-priced tat housing that concerns most of us here, with the ponzis at the top sitting by the pool in their acres

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I think what he's trying to say is homeowners want to see you shafted now for trying to talk down the economy.

In laymans terms like. :lol:

What goes around comes around. You have slagged hardworking people off for trying to improve their lot.

Now you're going to get yours.

Sibley I am a 100% owner of a property and I am living in it, do I care what the price is No....if mine falls everything else falls relatively....while I am alive I will be living in a house, while I am alive I would want for my children to buy an affordable house and pay for it like I did....I am not greedy, and I did not put all my eggs in one basket thankfully. ;)

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You think they "Let Slip" that this is what they were trying to do - It was obvious from day 1 wasnt it?

can you read that ralph, 'obvious'? sorry son, but it was and is obvious to a lot of us, and the BoE is therefore complicit in propping up a ponzi scheme, gosh i wonder why ;) hint: check newspaper headlines past few weeks

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