Jump to content
House Price Crash Forum
Realistbear

Bo E: No Recovery Unless Banks Get More People In Debt

Recommended Posts

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8198049/Banks-putting-economic-recovery-at-risk-Bank-of-

England-warns.html
Banks and Finance
Banks putting economic recovery at risk, Bank of England warns
Banks are jeopardising the country’s economic recovery by restricting lending to households and businesses, a study by the Bank of England warns today.
Since the credit crisis began, high street banks have lent less to customers,
blaming a fall in demand for new loans, mortgages and other types of credit
.

BLAMING? Makes you sick doesn't it? Here we have our esteemed bankers telling the sheeple that a "recovery" is not possible unless they get out and buy more tat and borrown more in order to do so.

Perhaps the trigger will be the sheeple themselves? They learn from the Brown years of debt accumulation and stop borrowing and timberrrrrrrrrrrrrrrrrrrrrr.

Maybe there is hope yet for a HPC (at least 20% from here).

Share this post


Link to post
Share on other sites

wealth production makes people confident to borrow.

If you are all borrowed out, maxed the cards, then you need wealth to start paying it off...you DONT need more debt to cover it.

Share this post


Link to post
Share on other sites

wealth production makes people confident to borrow.

If you are all borrowed out, maxed the cards, then you need wealth to start paying it off...you DONT need more debt to cover it.

They haven't worked that out yet, they have learnt noting from the mess they created. Mind you none of them have ever done a productive day ofwork in their life. They know nothing about running a profitable company - all involved have been artificially "booming" an unprofitable country with monetary policy. Any idiot can play at running a company, borrowing a shed load of money, burning through it and going bung in 2-3 years.

Shame on them. They are the creators of money and destroyers of everything else.

Share this post


Link to post
Share on other sites

http://www.telegraph.co.uk/finance/economics/8197806/Low-interest-rates-failing-to-rescue-British-households-from-1.45-trillion-debts-says-Bank-of-England.html

Economics
Low interest rates failing to rescue British households from £1.45 trillion debts, says Bank of England
Low interest rates are not fixing Britain's household debt burden, a damning survey for the Bank of England has found.

Confused message from BoE. They compalin about not enough debt being created for households and businesses and then worry that there is still too much debt. They, or their controllers, really are Muppets aren't they.

Share this post


Link to post
Share on other sites

http://www.telegraph...of-England.html

Economics
Low interest rates failing to rescue British households from £1.45 trillion debts, says Bank of England
Low interest rates are not fixing Britain's household debt burden, a damning survey for the Bank of England has found.

Confused message from BoE. They compalin about not enough debt being created for households and businesses and then worry that there is still too much debt. They, or their controllers, really are Muppets aren't they.

Banks are doing fine as they are able to pay large bonuses to their staff to retain "talent." So whats the problem?

Share this post


Link to post
Share on other sites

Give them a chance Deputy Governor only told savers to start spend their savings in September!

http://www.telegraph.co.uk/finance/personalfinance/savings/8028884/Savers-told-to-stop-moaning-and-start-spending.html

Some of the savers might not have got through the savings yet but no doubt debts will soon follow.

Charles Bean him with a £536,900 increase in the cash value of his pension last year. He did well to get so close to Paul Tucker's £716,200

http://www.bankofengland.co.uk/publications/annualreport/2010/renumeration2010.pdf

Share this post


Link to post
Share on other sites

Welcome to the irrational logic of a debt based monetary system...

In a debt based monetary system (like we have) all money in circulation is created as debt, without debt there would be no money around.

That's why we need a monetary reform to get out of this mess.

Share this post


Link to post
Share on other sites

Give them a chance Deputy Governor only told savers to start spend their savings in September!

http://www.telegraph...t-spending.html

Some of the savers might not have got through the savings yet but no doubt debts will soon follow.

Charles Bean him with a £536,900 increase in the cash value of his pension last year. He did well to get so close to Paul Tucker's £716,200

http://www.bankofeng...eration2010.pdf

Good job I'm not in charge or Mr Beans and Mr Tuckers heads would be on spikes along London Bridge.

Some fine nest feathering going on at the Bank(rupt) of England I see.

Share this post


Link to post
Share on other sites

... They are the creators of money and destroyers of everything else.

What a superb one-liner. Nice one. It sums up consumerism exactly. The game is up for the west, the party over. The revellers will leave and just the minimum wage immigrant maid will be left to clean up the mess. I hope no one is relying on her to fund their pension :D

Share this post


Link to post
Share on other sites

Welcome to the irrational logic of a debt based monetary system...

In a debt based monetary system (like we have) all money in circulation is created as debt, without debt there would be no money around.

That's why we need a monetary reform to get out of this mess.

+1

Succinctly put.

Share this post


Link to post
Share on other sites

Welcome to the irrational logic of a debt based monetary system...

In a debt based monetary system (like we have) all money in circulation is created as debt, without debt there would be no money around.

That's why we need a monetary reform to get out of this mess.

The consumer masses may have maxed out.

There are plenty of people who are not in debt at all. Some of them have huge amounts on the credit side of the ledger.

What happens if they start spending?

Share this post


Link to post
Share on other sites

What happens if they start spending?

It would only delay the inevitable.

Everyone's savings is someone else's debt in a debt based monetary system.

Share this post


Link to post
Share on other sites

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8198049/Banks-putting-economic-recovery-at-risk-Bank-of-

England-warns.html
Banks and Finance
Banks putting economic recovery at risk, Bank of England warns
Banks are jeopardising the country’s economic recovery by restricting lending to households and businesses, a study by the Bank of England warns today.
Since the credit crisis began, high street banks have lent less to customers,
blaming a fall in demand for new loans, mortgages and other types of credit
.

BLAMING? Makes you sick doesn't it? Here we have our esteemed bankers telling the sheeple that a "recovery" is not possible unless they get out and buy more tat and borrown more in order to do so.

Perhaps the trigger will be the sheeple themselves? They learn from the Brown years of debt accumulation and stop borrowing and timberrrrrrrrrrrrrrrrrrrrrr.

Maybe there is hope yet for a HPC (at least 20% from here).

Next thing we need to pass a law mandating that the government borrow at the rate of 5% from the banks to create new money. The banks can then carry trade

and pay the bankers big bonus and the amount will trickle down and we will be living happily ever after......

Or BoE should just say work harder and produce more useful things so prosperity can return ?

Share this post


Link to post
Share on other sites

Basically they need to make it massively attractive to borrow money at a rate of 15% without houseprices falling from where they are....

Houston, we have a problem

Edited by FrozenOut

Share this post


Link to post
Share on other sites

What do they want me to actually buy?

Stuff is so cheap now that I have already bought everything I need and pretty much everything I want.

With ebay, gumtree and freecycle I can get everything that I would previously have had to buy new for hardly any money second hand.

The only thing I want is a bigger house and I'm saving up for that. I am terrible for the economy.

Share this post


Link to post
Share on other sites

Basically they need to make it massively attractive to borrow money at a rate of 15% without houseprices falling from where they are....

Houston, we have a problem

the problem is not enough trickle down, they need to reduce taxes at the top and create more loopholes so that the money can be more evenly spread via trickle down, its worked a treat for 30 years with personal debt levels gradually reducing as more and more wealth reaches the lower echelons

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.