Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Katy (Ex B O E Member) : Bank Pulling A Confidence Trick

Recommended Posts

http://www.telegraph.co.uk/finance/economics/8304054/Bank-of-England-attempting-inflation-confidence-trick-says-former-MPC-member-Kate-Barker.html

Bank of England attempting inflation 'confidence trick', says former MPC member Kate Barker
Keeping inflation under control is a "confidence trick" that the Bank of England may fail to pull off, Kate Barker, one of its former rate-setters, has warned..../
The chance of a
surprise rate rise
when the committee meets next week has increased after key surveys showed the economy rebounded in January after the snow melted. That suggested the alarming 0.5pc contraction in GDP in the last quarter was a temporary weather-related setback and that the economy may be better able to cope with a rise.

I am sure Merv sees it but there are two things stopping him: The underway HPC and the profits the banks are raking in paying low IR on savings.

Share this post


Link to post
Share on other sites

http://www.telegraph...ate-Barker.html

Bank of England attempting inflation 'confidence trick', says former MPC member Kate Barker
Keeping inflation under control is a "confidence trick" that the Bank of England may fail to pull off, Kate Barker, one of its former rate-setters, has warned..../
The chance of a
surprise rate rise
when the committee meets next week has increased after key surveys showed the economy rebounded in January after the snow melted. That suggested the alarming 0.5pc contraction in GDP in the last quarter was a temporary weather-related setback and that the economy may be better able to cope with a rise.

I am sure Merv sees it but there are two things stopping him: The underway HPC and the profits the banks are raking in paying low IR on savings.

Anyone would think that the banks ARE the UK.

Share this post


Link to post
Share on other sites

Anyone would think that the banks ARE the UK.

AS far as the banks and their political servants are concerned they are. What is good for the banks is good for the UK. (Sound familiar?).

Check out the Bob Diamond thread--the HSBC boss wants £9m bonus too.

Edited by Realistbear

Share this post


Link to post
Share on other sites

Keeping inflation under control is a "confidence trick" that the Bank of England may fail to pull off..

MAY?!! :o

Seeing as it's already been out of control for years they've already failed to pull off the "confidence trick". The BoE's policy is total FAIL on the basis of any of their own various pick and mix definitions of the inflation target that they regularly trot out. 2%, 2% in 2 years, average 2% etc.

If she'd given the speech 5 years ago it might have been apt but giving it now is just her stable door moment.

Edited by billybong

Share this post


Link to post
Share on other sites

http://www.bloomberg.com/news/2011-02-06/bank-of-england-should-hold-rate-to-protect-fragile-recovery-bcc-says.html

Bank of England Should Hold Rate to Protect `Fragile' Recovery, BCC Says
By Fergal O’Brien - Feb 6, 2011 12:01 AM GMT
The Bank of England should keep its key interest rate on hold this week as the U.K. recovery remains “fragile,” the British Chambers of Commerce said.
“Positive news should not lull us into a misguided sense of complacency,” BCC Chief Economist David Kern said in an e- mailed statement from London today. “The economy is still fragile.”

BCC may be right--the "recovereh" is more illusion than anything else as things are only just starting to take on the characteristic shape of a pear. And house prices? In a terrible state of decline--just awful.... :( *

* :lol:

Share this post


Link to post
Share on other sites

AS far as the banks and their political servants are concerned they are. What is good for the banks is good for the UK. (Sound familiar?).

I assume you're alluding to the "What's good for General Motors is Good For America"? I just did a quick google on it to see who said it and was surprised to read this claim that it's a popular misquote (like Thatcher's 'No such thing as society') “What’s Good for General Motors Is Good for America".

Share this post


Link to post
Share on other sites
Guest sillybear2

So the sky is pink, and provided people don't look up and judge for themselves this lie becomes a manifest truth? This isn't economics, this is voodoo <_<

Share this post


Link to post
Share on other sites

http://www.telegraph.co.uk/finance/economics/8304054/Bank-of-England-attempting-inflation-confidence-trick-says-former-MPC-member-Kate-Barker.html

Bank of England attempting inflation 'confidence trick', says former MPC member Kate Barker
Keeping inflation under control is a "confidence trick" that the Bank of England may fail to pull off, Kate Barker, one of its former rate-setters, has warned..../
From the comments under this article....

http://www.youtube.com/watch?v=nuWQ1Qe59OM' rel="external nofollow">
:lol:

Share this post


Link to post
Share on other sites

i think that she is being misunderstood here.

Obviously the word "trick" means a neat and clever thing to do.

And confidence in front of the word trick means that it is a neat and clever thing to do to restore confidence in the economy.

That's what it means. Yes.

Share this post


Link to post
Share on other sites

http://www.bloomberg.com/news/2011-02-06/bank-of-england-should-hold-rate-to-protect-fragile-recovery-bcc-says.html

Bank of England Should Hold Rate to Protect `Fragile' Recovery, BCC Says
By Fergal O’Brien - Feb 6, 2011 12:01 AM GMT
The Bank of England should keep its key interest rate on hold this week as the U.K. recovery remains “fragile,” the British Chambers of Commerce said.
“Positive news should not lull us into a misguided sense of complacency,” BCC Chief Economist David Kern said in an e- mailed statement from London today. “The economy is still fragile.”

BCC may be right--the "recovereh" is more illusion than anything else as things are only just starting to take on the characteristic shape of a pear. And house prices? In a terrible state of decline--just awful.... :( *

* :lol:

As with all these things, you need to look for the VI. I wonder if the Chamber of Commerce has ever recommended putting up rates in its entire history? They are just after as big a share of the pot as possible.

Share this post


Link to post
Share on other sites
Guest sillybear2

i think that she is being misunderstood here.

Obviously the word "trick" means a neat and clever thing to do.

And confidence in front of the word trick means that it is a neat and clever thing to do to restore confidence in the economy.

That's what it means. Yes.

It's only a trick if it works and people don't notice, and they've failed on both counts. She compounds this by advertising the failed con, nice.

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...
Sign in to follow this  

  • 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.