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interestrateripoff

George Osborne Cuts Short Holiday To Deal With Stock Market Crisis

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http://www.guardian.co.uk/politics/2011/aug/09/george-osborne-cuts-short-holiday-for-financial-crisis

George Osborne is to return from his holiday in California to address MPs about the state of the economy on Thursday, when parliament is being recalled following the riots across London.

The Treasury did not release information about what the chancellor intended to say but he will be speaking the day after the Bank of England is widely expected to reduce its growth forecast for the UK.

Osborne is expected to address MPs after the prime minister, David Cameron, has made a statement about the public unrest that began on Saturday.

On Wednesday the Bank is expected to predict in its quarterly inflation report that GDP this year will not rise by as much as the 1.8% it had forecast in May. Forecasts for GDP growth have been falling since data showing the economy grew just 0.2% in the second quarter.

When did this get tagged on? I thought it was for the riots now it's the economy as well!

I thought it would all be sorted later on today when the Bernanke genius pumps even more money into the market to boost food prices for the proles and helping banker bonuses?

Edited by interestrateripoff

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I wish he'd stay on holiday.

It started in America, Politicians started it, and he his already over there.

Best he STAY overthere

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He is coming back to tell people not to panic after the B of E have delivered their inflation report and lowered the growth forecast Wednesday.

He is going to "do the right thing", print more money, keep interest rates lower for longer and ignore inflation because that's what the city boys want.

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He is coming back to tell people not to panic after the B of E have delivered their inflation report and lowered the growth forecast Wednesday.

He is going to "do the right thing", print more money, keep interest rates lower for longer and ignore inflation because that's what the city boys want.

May as well just put that on a voice box inside a Chucky Doll and dispense with this idiot altogether.

Still he'll love Benny Boys announcement of ZIRP for another 24 months, odds on the UK following suit, announcement or not, dead cert.

Zombie economics are here to stay...

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Inter-bank lending is apparently back to May 2009 levels with banks preferring to park money in central banks as opposed to lending to each other. The system is grinding to a halt.

Bernanke yesterday signalled that he intends to keep inflating away the value of cash - cash is trash - as that debts on assets are reduced.

The markets are very volatile but no one knows where to go or what to do. On one hand Bernanke's zero IRs until mid-2013 signals that the US is in recession so commodities should be falling along with inflation... but with people looking at inflation currently they fear their cash being eroded so are pumping up the price of commodities.

Expect the markets to be very volatile in the coming days/weeks as people try to figure out what is going on. Big surges and big drops might become more frequent.

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but with people looking at inflation currently they fear their cash being eroded so are pumping up the price of commodities.

Expect the markets to be very volatile in the coming days/weeks as people try to figure out what is going on. Big surges and big drops might become more frequent.

This strikes me as highly accurate and, I suspect, will be a strong factor in warding off a HPC. What a mess.

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Inter-bank lending is apparently back to May 2009 levels with banks preferring to park money in central banks as opposed to lending to each other. The system is grinding to a halt.

Bernanke yesterday signalled that he intends to keep inflating away the value of cash - cash is trash - as that debts on assets are reduced.

The markets are very volatile but no one knows where to go or what to do. On one hand Bernanke's zero IRs until mid-2013 signals that the US is in recession so commodities should be falling along with inflation... but with people looking at inflation currently they fear their cash being eroded so are pumping up the price of commodities.

Expect the markets to be very volatile in the coming days/weeks as people try to figure out what is going on. Big surges and big drops might become more frequent.

so which is it..people are buying commodities to pump them up, or are they buying very large assets, like houses, with borrowed money, if they can get it?

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  • 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%



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