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0-0-9!

Shift in stance though:

"Some members considered whether there was a case for increasing the degree of monetary

stimulus by undertaking a further programme of asset purchases. Those members concluded that the

case was not yet strong enough, particularly in light of the lower path for Bank Rate now implied by

financial markets. Further asset purchases might nonetheless become warranted were some of the

downside risks to materialise."

P.S. Posen voted against maintaining QE at £200bn again. He wants an increase.

Edited by FreeTrader

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I'm not suprised. That'd be mad to do it now. It's too late, game over.

Interestingly average earnings jumped up 2.6% from 2.3%. Nice wage price spiral round the corner to take the slack from falling commodities and keep inflation nice and high.

Unemployment up aswell claimant count almost double estimate and rate up to 7.9%

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Time for this little MPC game to end and a proper committee to be installed, preferably one voted in by the public, not appointed like some sort of dictatorship

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Shift in stance though:

"Some members considered whether there was a case for increasing the degree of monetary

stimulus by undertaking a further programme of asset purchases. Those members concluded that the

case was not yet strong enough, particularly in light of the lower path for Bank Rate now implied by

financial markets. Further asset purchases might nonetheless become warranted were some of the

downside risks to materialise."

P.S. Posen voted against maintaining QE at £200bn again. He wants an increase.

Should trash the pound nicely and put my raw material costs up even more. Thanks very much.

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Time for this little MPC game to end and a proper committee to be installed, preferably one voted in by the public, not appointed like some sort of dictatorship

Meh, the general public haven't a fecking clue.

IMO, monetary policy should just be controlled by the government directly, rather than farmed out to the MPC so that our pathetic leaders can hide behind them... which is more or less the same as you suggest.

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Should trash the pound nicely and put my raw material costs up even more. Thanks very much.

Yip. £ is currently down against all 40 currencies the BBC provides data for.

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Time for this little MPC game to end and a proper committee to be installed, preferably one voted in by the public, not appointed like some sort of dictatorship

I'd replace them with a simple computer algorithm that targets the index rather than the mythical future inflation rate in the index. That way, you get 2% inflation (or whatever the desired target) on average.

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Meh, the general public haven't a fecking clue.

IMO, monetary policy should just be controlled by the government directly, rather than farmed out to the MPC so that our pathetic leaders can hide behind them... which is more or less the same as you suggest.

Yes they do seem to hide behind them, it's a nice buffer

I'd replace them with a simple computer algorithm that targets the index rather than the mythical future inflation rate in the index. That way, you get 2% inflation (or whatever the desired target) on average.

Worth a try, then HM Govt can whine "Computer says no"

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Should trash the pound nicely and put my raw material costs up even more. Thanks very much.

Our AAA must be hanging by a thread as it is, anymore money printing and we'll surely lose it making the whole problem much worse.

Edited by MrFlibble

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I'm not suprised. That'd be mad to do it now. It's too late, game over.

Interestingly average earnings jumped up 2.6% from 2.3%. Nice wage price spiral round the corner to take the slack from falling commodities and keep inflation nice and high.

Unemployment up aswell claimant count almost double estimate and rate up to 7.9%

Here's the earnings growth chart from today's ONS release:

EarningsGrowth0811.gif

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Our AAA must be hanging by a thread as it is, anymore money printing and we'll surely lose it making the whole problem much worse.

What do people like us care? If anything this is excellent news.

As with the riot thread, I'm looking more and more vindicated I can leave with all of my wealth concentrated in a space no bigger than a pack of polos.

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Meh, the general public haven't a fecking clue.

IMO, monetary policy should just be controlled by the government directly, rather than farmed out to the MPC so that our pathetic leaders can hide behind them... which is more or less the same as you suggest.

When the government did have direct control over setting rates (before 1997) they used to do things like cut rates just before each election just to keep everyone sweet, and then raise them afterwards to put the brakes on. Too much politics got involved. The MPC was an improvement on this - the main problems have been due to rigidly targeting certain metrics while letting others get out of control and sh1te forecasting. For all his faults I'd rather have King running the show than Brown or Osborne.

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For all his faults I'd rather have King running the show than Brown or Osborne.

I don't want anybody running the show. I want monetary laws written down where everybody can see them, and legal institutions which enforce them. Our money supply is run like a banana republic, changing at the whim of a few powerful individuals.

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In the light of the report and minutes ( http://uk.reuters.com/article/2011/08/17/uk-britain-boe-idUKTRE77G16P20110817 )

Is anything likely in the next few months to get the UK base rate up, anything that's beyond the MPC's control?

Even if the UK were to lose her AAA, would they not just print more to keep rates down?

The US has lost her AAA from S&P but her rates remain where they were. Have the US, Greece or Eire had to pay savers/depositors more interest since they lost their ratings?

Is it not now the case that the MPC seek to keep rates very low because HM Govt owes so much? And that they can almost 100% ensure this goes on indefinitely if they QE?

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In the light of the report and minutes ( http://uk.reuters.co...E77G16P20110817 )

Is anything likely in the next few months to get the UK base rate up, anything that's beyond the MPC's control?

Even if the UK were to lose her AAA, would they not just print more to keep rates down?

The US has lost her AAA from S&P but her rates remain where they were. Have the US, Greece or Eire had to pay savers/depositors more interest since they lost their ratings?

Is it not now the case that the MPC seek to keep rates very low because HM Govt owes so much? And that they can almost 100% ensure this goes on indefinitely if they QE?

A report in the last few weeks had some bigwig economist saying that if IRs have to stay at this level beyond mid 2012 then the UK economy has entered a new period of long-term decline, or something along those lines. Anyone remember which report this was?

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What do people like us care? If anything this is excellent news.

As with the riot thread, I'm looking more and more vindicated I can leave with all of my wealth concentrated in a space no bigger than a pack of polos.

True, plus with real money you'll always be able to buy a ticket out of dodge from some rich guy with a private jet.

I worry more for my parents sitting in cash close to retirement and worrying about the banking system bogeyman. No point worrying about hanging onto money when the buying power of the money is heading to zero.

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Here's the earnings growth chart from today's ONS release:

EarningsGrowth0811.gif

What caused that huge jump up to 4%? (Not quite sure how to read the bottom scale. Is it June 2009 or June 2010?)

Peter.

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What caused that huge jump up to 4%? (Not quite sure how to read the bottom scale. Is it June 2009 or June 2010?)

Peter.

It was the last quarter of 2009. I think it was something to do with huge banker bonuses being reinstated.

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  • 343 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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