Jump to content
House Price Crash Forum

Recommended Posts

Good stuff. Another round of "the only solution we have left.....which doesn't work anyway". :rolleyes:

Delusion running rampant at the BOE these days. They don't give a toss if inflation goes to banana republic levels, just as long as they keep those bloody houseprices high. Thats what we all need.

Who needs food, fuel or electricity anyway?? :blink:

Link to post
Share on other sites

They dress it up nicely - long words, grave deliberations in serious conclave, wise men and women making sober decisions, then at the end of the day they trash our currency. :angry:

Was it like this in the Weimar republic? Self-important officials making it all sound so reasonable. Probably.

Link to post
Share on other sites

Good stuff. Another round of "the only solution we have left.....which doesn't work anyway". :rolleyes:

Delusion running rampant at the BOE these days. They don't give a toss if inflation goes to banana republic levels, just as long as they keep those bloody houseprices high. Thats what we all need.

Who needs food, fuel or electricity anyway?? :blink:

But didn't you read the softening up article about how it did work, possibly, and staved off a worse recession. Precisely the article you would expect just before the second round.

IMO, it may have saved the banks, at the cost of a lot of higher prices, but it should never be a valid policy option for a "run of the mill" recession. If it becomes one, well, we all knew it would happen, so no point in going over the old ground.

Also while there is a correlation for QE and rising/ "recovering" house prices, I suspect that the Dead Cat Bounce would have happened anyway, with IRs on the floor, and the forebearance of banks. I wouldn't necessarily expect QE to be targeted well enough to "save hard working homeowners" this time round.

Link to post
Share on other sites

Who needs food, fuel or electricity anyway?? :blink:

It's the effective pay cut I appreciate the most - NOT. Thanks Merv, you make busting my hump at work so rewarding with your crappy printed money that buys less and less each month.

I cannot see how driving up the cost of living yet further is going to help anyone myself.

Link to post
Share on other sites

Nah, the French will never let BNP and SocGen fail, they'll just be nationalized (we've seen this movie before :D )

Relatively recently (1991):

Credit Lyonnais:

The bank avoided financial disaster by moving its debts and liabilities into a new state-owned company, Consortium de Réalisation (CDR). The creation of the CDR was highly controversial, as many did not believe that the French government should have bailed out the bank. The CDR notably agreed to pay US$525 million to the California Department of Insurance in order to head off a lawsuit over the Executive Life insurance scandal.
To allow the bailout, the European Commission imposed severe limitations, principally on the bank's international activities, and the bank was forced to sell many entities in the following years.
...
In 1998, Crédit Lyonnais sold Crédit Lyonnais (Austria) to the Anglo Irish Bank.
:rolleyes:
Crédit Lyonnais was fully privatized in 1999. In 2003 BNP Paribas built a position in the capital of the bank but finally another French bank, (Crédit Agricole) acquired it and reorganised its operations...
Link to post
Share on other sites

It's the effective pay cut I appreciate the most - NOT. Thanks Merv, you make busting my hump at work so rewarding with your crappy printed money that buys less and less each month.

I cannot see how driving up the cost of living yet further is going to help anyone myself.

Don't worry, benefits are inflation proofed, and pensions will go up by at least inflation.

Of course hard work will have to accept a lower share to enable this, so get back to work.

Link to post
Share on other sites

Don't worry, benefits are inflation proofed, and pensions will go up by at least inflation.

Of course hard work will have to accept a lower share to enable this, so get back to work.

My full time skilled job currently does not pay enough for me to buy a house and live in it, thousands more are in the same boat as me, if everything is going to start costing more yet again then i cant see there being many working people putting up with this situation much longer.

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.





×
×
  • 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.