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In a rubbery dead cat sort of way, or a genuine sterling is going to the moon type of way...?

My thought is it will end with a dull thud on the floor, dead and lifeless, never to move unless some fetid maggotty squirming goes on.

More Dead cat than moon. Movement to the new realistic Sterling valuation which I expect to be much lower than the current one but much higher than the future oversold valuation. Something like buying dollars in 1980(last year or so), then buying pounds in 85 (2012?).

Don't see sterling death - UK plc balance sheet would still be +ve if we 'cashed up'. Just need to make sure we shoot any naughty rich people who try to move the UK's wealth abroad in the delusion that it really belongs to them.

Edited by xux42
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it wont be withdrawn

Merv is not usually the type to say something definitive unless he means it, I hope I am not proved wrong.

QE is a little different IMHO, he never said it was finished for good (in fact quite the opposite). As far as I can tell QE is all about funding the public sector deficit which they feel is necessary in this time of recession (it used to be save in the good times, spend in the bad.. now it's spend in the good times and print/borrow in the bad). They have tried rasing money from the bond market and it looks like it could get very expensive so they are worried they are going to have to turn to printing again. If all countries do it it may not be so bad.. concerning then that the Americans appear to be tightening.

That's how I read into it anyway. I think Merv knows the housing market and banking industry are completely out of kilter. He wants to correct it as much as we do, but just doesn't want to crash the boat in the process. Not a popular view perhaps, but it's how I see it. Merv obviously doesn't want to print money.. he's just trying to bail out HMS Britannia with a rusty bucket after years of abuse/negligence in terms of public spending/borrowing and laughable financial regulation (both UK and globally).

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Merv and co are thieves, they do not give two curly shits about the economy, our place in europe or any of that malarky - they just want stuff for themselves, and they keep taking. Pound tanks?

To be fair to merv, we can't tell what his motive it, we just know he's doing a job within a strict set of rules.

If he bends or breaks the rules he gets fired.

If he gets fired, someone much worse could take over.

Blanchflower as head of BoE anyone?

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The Tories seem intent on throwing the election. They certainly don't want to be in charge when the SHTF.

But the SHTF 16 months ago when we were hours from a meltdown and still the Cons said sfa and the reson my friend is simple and thats because all member of the 3 main parties are in bed togeather and it's a game of good cop, bad cop as they continue to take bribes for planning permission and so that Tesco's can have more cheap labour let in the country.

Gangsters also play Poker you know.

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But the SHTF 16 months ago when we were hours from a meltdown and still the Cons said sfa and the reson my friend is simple and thats because all member of the 3 main parties are in bed togeather and it's a game of good cop, bad cop as they continue to take bribes for planning permission and so that Tesco's can have more cheap labour let in the country.

Gangsters also play Poker you know.

If they really did want to throw the election they would just adjust their manifesto to address the stark reality of the spending cuts that need to be made. Cutting the public sector to the bone to reduce the national debt together with a "get tough" stance on the welfare state would do it. The problem is that they would probably have very little representation in the commons come June.

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I don't. you are making something incredibly simple into something complicated.

Merv and co are thieves, they do not give two curly shits about the economy, our place in europe or any of that malarky - they just want stuff for themselves, and they keep taking. Pound tanks?

"Oh those poor slaves who run around all day providing me with food, warmth and shelter! Meh, ****** 'em."

What I love about Injin is his utter lack of doubt that the greed of our current elite is so huge that it crowds out all other human motivation such as duty, compassion, self preservation and honour, whilst being equally sure that the solution is to remove all rules; at which point everyone will start to behave.

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Politicians want to be in power at all times. How could you think otherwise?

Individually, yes - collectively... not necessarily. Another issue is that politicians' power is not 'there or not' - but something more subtle... where authority is relative.

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What I love about Injin is his utter lack of doubt that the greed of our current elite is so huge that it crowds out all other human motivation such as duty, compassion, self preservation and honour, whilst being equally sure that the solution is to remove all rules; at which point everyone will start to behave.

What is the evidence that their greed isn't bottomless?, you make 2-3 million even a billion and you've got enough to see you and 3 generations down the line in luxury for life. Yet do they stop at 1bn? , nope they keep going for more and more. Bill gates , Ivan Kamphrad could have stopped at 500mil but did they no.

Lee Kar Shing of Hong Kong is a fine example, he made BILLIONS and BILLIONS by 1999, yet he wanted more and he decided to buy up EVERYTHING, utilities, shipping, the Suez canal etc his greed is bottomless.

This is normal the difference is that rules protect some and enhance their wealth at our expense, ie the above have armies to murder us if we step out of line. The corporation of London for example has a completely private army the London police force.

You can see this in a buffet restaurant people will stuff themselves absolutely silly to the point that they are physically sick, I've not worked in a buffet style restaurant for a very long time but this happens all the time. Same with open bars people drink themselves absolutely silly.

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QE + Low GDP = Inflation

As it is evident from the last 2 months that inflation 'unexpectedly rose' then its time to turn the money tap on again.

This is like trying to stop a leak by catching the water in bigger and bigger buckets. What is the plan? To have a swimming pool sized bucket in place for when the Conservative party get in power...at which point it will burst and leave David and Co to mop up?

Edited by Neil B
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QE + Low GDP = Inflation

As it is evident from the last 2 months that inflation 'unexpectedly rose' then its time to turn the money tap on again.

This is like trying to stop a leak by catching the water in bigger and bigger buckets. What is the plan? To have a swimming pool sized bucket in place for when the Conservative party get in power...at which point it will burst and leave the David and Co to mop up?

Uganda is what you are looking for, in that what happened in the dying days of the last government they knew enemy forces were coming to kill them, so the last few days they went on a looting spree in Kampala and then ran off with the loot. The Brown government is doing exactly this.

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Merv and co are thieves, they do not give two curly shits about the economy, our place in europe or any of that malarky - they just want stuff for themselves, and they keep taking. Pound tanks?

"Oh those poor slaves who run around all day providing me with food, warmth and shelter! Meh, ****** 'em."

Injin's cynicism seems misplaced. That isn't how I behave at work, and if I were Governor or Prime Minister it isn't how I would behave. Of course everyone is keen to ensure that they themselves are OK, but to spend all your working life rising to the top of your profession only to destroy the institutions you lead? Doesn't make sense to me.

A reading of the history books reveals a wide variety of good rulers and bad rulers. However, what I see in our current leadership is incompetence and short-termism. I see Mr Bean, rather than Stalin.

To be fair to merv, we can't tell what his motive it, we just know he's doing a job within a strict set of rules.

Indeed - if you must blame Brown or King, blame the rule-setter not the rule-follower.

Uganda is what you are looking for, in that what happened in the dying days of the last government they knew enemy forces were coming to kill them, so the last few days they went on a looting spree in Kampala and then ran off with the loot. The Brown government is doing exactly this.

I fail to see how engineering a collapse of the British economy gives Gordon Brown any loot. If anything, it is more akin to setting fire to the loot.

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Injin's cynicism seems misplaced. That isn't how I behave at work, and if I were Governor or Prime Minister it isn't how I would behave. Of course everyone is keen to ensure that they themselves are OK, but to spend all your working life rising to the top of your profession only to destroy the institutions you lead? Doesn't make sense to me.

A reading of the history books reveals a wide variety of good rulers and bad rulers. However, what I see in our current leadership is incompetence and short-termism. I see Mr Bean, rather than Stalin.

The institution that they run only steals.

It doesn't matter what personal characterisitics you attribute to him, he's a thief by profession. The only way he can stop being a tea leaf is to resign and get a proper job.

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Injin's cynicism seems misplaced. That isn't how I behave at work, and if I were Governor or Prime Minister it isn't how I would behave. Of course everyone is keen to ensure that they themselves are OK, but to spend all your working life rising to the top of your profession only to destroy the institutions you lead? Doesn't make sense to me.

A reading of the history books reveals a wide variety of good rulers and bad rulers. However, what I see in our current leadership is incompetence and short-termism. I see Mr Bean, rather than Stalin.

Indeed - if you must blame Brown or King, blame the rule-setter not the rule-follower.

I fail to see how engineering a collapse of the British economy gives Gordon Brown any loot. If anything, it is more akin to setting fire to the loot.

Please remember many people are nowhere close to being as sane as you, Scott. Some people are just mental. I'm talking about Brown, not Injin.

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