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

Bank Of England Worried....

Recommended Posts

1 in 10 chance my **** !

Tables published today show that the Bank believes there is at least a one-in-10 chance the UK will suffer a double dip over the next 18 months. Its current forecast is more bleak than any projection since February last year, as Britain was coming out of the deepest slump since the 1930s, and even worse than its outlook in May 2008, when the recession had just started.

Details of the Bank's forecast came as it emerged that the two remaining members of the Bank's nine-strong rate-setting committee voting for a rise abandoned their position.

Spencer Dale, the Bank's chief economist, and Martin Weale, an external member of the Monetary Policy Committee (MPC), dropped their vote for a quarter-point rise this month and joined the majority view for rates to remain at 0.5pc, minutes of the MPC meeting showed.

It was the first time the committee had been unanimous since May 2010. Just three months ago, three members were voting for an increase, including a half-point hike from Andrew Sentance, who has now left the MPC.

This comment from 'Joe Public' seems pretty spot on.....own up - which of you HPC's posted it?

It was last week Mervin King said we're reliant on the Chinese for Britain to recover.

He's wrong.

Protectionist policies work and we should instate them. Cheap stuff from China has closed our factories.

I pay just 7% import duty on goods manufactured in China. It's nothing compared the cost of a British worker on the price of British goods.

Thankfully stuff from China is no longer cheap so hopefully we can keep manufacturing in Britain although we need to retool.

I spent all last week finding a workshop with a power press in the Midlands. The industrial heartland of Britain. It's pathetic!

Globalisation only serves the super rich and now we're suffering for it.

Share this post


Link to post
Share on other sites

I think they got it the wrong way around, what they meant to say is there is a 1 in 10 chance we'll not slip back into recession.

It's all nonsense anyway as back in the real world we never left the first recession.

Share this post


Link to post
Share on other sites

I think they got it the wrong way around, what they meant to say is there is a 1 in 10 chance we'll not slip back into recession.

It's all nonsense anyway as back in the real world we never left the first recession.

Inflation for workers / pensioners 10 -15%

Inflation for ponces and scroungers 0%

Share this post


Link to post
Share on other sites

It's all nonsense anyway as back in the real world we never left the first recession.

Yup, even according to the highly dubious stats we only got out of recession by a statistical margin of error.

When historians look back on 2008-2011, I think they'll revise the figures down and include it in the depression that is rapidly arriving.

Share this post


Link to post
Share on other sites

Inflation for workers / pensioners 10 -15%

Inflation for ponces and scroungers 0%

:lol:

How true is that, the trough expands at the same rate as inflation.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

BOE are supposed to be concerned with inflation - not the broader economic situation!

economic stability is part of their remit...not sure which part of the economy they are stabilising, but its not the wealth creating part, thats for sure.

Share this post


Link to post
Share on other sites

What's this bits and bobs l hear about Venezuala wanting it 99 tonnes of gold back and that the BOE might not have it?

Anyone getting the feeling that Gordon did the equivalent of naked short selling a load of gold and all that's left on the Venezuala bullion shelf is a note saying "I OWEZ U 99 TUNZ"

Its the same scam as paper ETF after all, just at a sovereign level.

Share this post


Link to post
Share on other sites

I can't wait for Mystic Merv to say inflation destroys growth.....

I only just caught the end of it last night but I thought I saw a boss of Morrisons say inflation was causing them problems.

Inflation won't solve our problems.

Share this post


Link to post
Share on other sites

What's this bits and bobs l hear about Venezuala wanting it 99 tonnes of gold back and that the BOE might not have it?

Anyone getting the feeling that Gordon did the equivalent of naked short selling a load of gold and all that's left on the Venezuala bullion shelf is a note saying "I OWEZ U 99 TUNZ"

Its the same scam as paper ETF after all, just at a sovereign level.

this is what banking is...its ALL about confidence.

look out your office window, you see a guy walking buy...

look at what hes got....he may have a house worth 200K, a £500 suit, a £20K car, a ton of other things including a £2K per month income.

now multiply that by 25 million.

there is not enough money in the UK to cash in everybody's wealth....its all on paper, its a confidence game perpetrated on us by the banks....banks rely 100% on liquid markets, and they are only liquid if there is confidence.

Share this post


Link to post
Share on other sites

thx fo link and Chavez nationaliing gold. I enjoyed the comment:

"i think a counter move by the US is in order. first we should nationalize all lumber companies to secure our source of paper. then we nationalize all printing companies...that'll show'em"

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.

  • 335 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.