SarahBell Posted October 6, 2011 Share Posted October 6, 2011 Just preempting the news: QE agreed by BOE today for an initial amount of £100bn to be paid directly to the top bankers. Hope for the wider economy fell today after QE for bankers only was announced. SarahBell said "It's a cr&p idea, it didn't work last time so why will it work this time." Quote Link to comment Share on other sites More sharing options...
SarahBell Posted October 6, 2011 Author Share Posted October 6, 2011 Because it wasn't enough? Giving the bankers money won't work. Pump it into something the people will see results for. Build 1m new council homes. Repair every road in the uk. Quote Link to comment Share on other sites More sharing options...
Lepista Posted October 6, 2011 Share Posted October 6, 2011 Giving the bankers money won't work. Pump it into something the people will see results for. Build 1m new council homes. Repair every road in the uk. Hate to tell you this, but that won't help either. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted October 6, 2011 Share Posted October 6, 2011 Cheers, bonuses and champagne all round! Quote Link to comment Share on other sites More sharing options...
SarahBell Posted October 6, 2011 Author Share Posted October 6, 2011 Hate to tell you this, but that won't help either. It would be a better end result than just giving it the the bankers. Quote Link to comment Share on other sites More sharing options...
Driver Posted October 6, 2011 Share Posted October 6, 2011 Give it to Gordon Brown to spend, he has a much better track record. Quote Link to comment Share on other sites More sharing options...
exiges Posted October 6, 2011 Share Posted October 6, 2011 Yep, inflationary policies are just what we need.. it's not like inflation is already triple what it should be, and people have plenty of spare cash anyway.. it won't hurt to devalue it. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted October 6, 2011 Share Posted October 6, 2011 This time around business leaders are calling for it too ... not really surprising as there's a pyramid of people who benefit vs people who lose out from money printing ( ) and CEOs are pretty close to the top.What's happening now is just looting - plain and simple - as those at the top of the system grab as much wealth out of the diminishing pool as possible, before it all goes up the Swanee. Nothing about this new round of QE is a surprise - it's long been predicted here (as ibndeed was the first and the next one that will come after this). The only unknown factor is whatever excuse they offer this time around for doing it. Last time it was "We're in a deadly deflationary spiral and if we don't print money pronto it'll all deflate to zero and we're all toast!". Now, with inflation running around the 5% level (as a result of their first round of theft from savers to give to the bankers) they can't use that excuse - so what imaginative lie will they come up with this time to screw over wage earners and savers? Quote Link to comment Share on other sites More sharing options...
tinker Posted October 6, 2011 Share Posted October 6, 2011 QE = a bit like adding water to orange juice, soon it tastes pretty lousy. Quote Link to comment Share on other sites More sharing options...
nmarks Posted October 6, 2011 Share Posted October 6, 2011 It's not the first time Dominic Frisby has commented on alien activity. Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted October 6, 2011 Share Posted October 6, 2011 Christmas isn't far off, the bonus pot needs to be fattened up so the Banksters can have a jolly good knees up at the taxpayers expense. Anyone who believes this money will make its way down to Joe Sixpack needs to stop hogging the crack pipe With inflation the way it is any more QE and they really do risk blowing the lid off this thing, especially when there is no actual need for more QE, could be different if Greece had just thrown the towel in but they haven't, at least not yet. Quote Link to comment Share on other sites More sharing options...
Nationalist Posted October 6, 2011 Share Posted October 6, 2011 Just give the £100bn to me - I promise to stimulate the leisure industry to the max! Quote Link to comment Share on other sites More sharing options...
SarahBell Posted October 6, 2011 Author Share Posted October 6, 2011 Just give the £100bn to me - I promise to stimulate the leisure industry to the max! 50: 50 with you ... Suspect I could have a good go at spending it. Quote Link to comment Share on other sites More sharing options...
fluffy666 Posted October 6, 2011 Share Posted October 6, 2011 Just preempting the news: QE agreed by BOE today for an initial amount of £100bn to be paid directly to the top bankers. Hope for the wider economy fell today after QE for bankers only was announced. SarahBell said "It's a cr&p idea, it didn't work last time so why will it work this time." Can be have a base rate cut to 0.1% at the same time? Hell, make it 0% and save everyone having to calculate interest at all. Quote Link to comment Share on other sites More sharing options...
Lepista Posted October 6, 2011 Share Posted October 6, 2011 Just give the £100bn to me - I promise the leisure industry could stimulate me to the max! Fixed for you. Quote Link to comment Share on other sites More sharing options...
council dweller Posted October 6, 2011 Share Posted October 6, 2011 I agree with the mass house building programme but wouldn't put councils in charge. They don't run things well and are subject to corruption/electorate and Treasury pressures. And the profit seeking private sector has failed too - they extract too much as rentiers. No, establish regional mutual "building societies" that build homes for rent to suit a range of pockets with the view to increasing the quality and volumes of homes in this country. Profits to be ploughed back in.Perhaps a right to buy for tenants of ten years standing say at market rates. 'My' council house is worth 150k on the 'open' market but with a sitting tenant it's only worth 75k. Having a sitting tenant knocks off half the price. The point is to get rid of council houses with such secure tenancies and replace them with houses with weaker tenancies. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted October 6, 2011 Share Posted October 6, 2011 £75BN it is then... Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted October 6, 2011 Share Posted October 6, 2011 BoE have spoken . Quote Link to comment Share on other sites More sharing options...
rantnrave Posted October 6, 2011 Share Posted October 6, 2011 BoE have spoken . Bankers have already taken lunch and are talking to London EAs about how to spend their bonuses... Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted October 6, 2011 Share Posted October 6, 2011 Say hello to Mr Inflation Quote Link to comment Share on other sites More sharing options...
CleverBear Posted October 6, 2011 Share Posted October 6, 2011 Be clear this is an extra £75bn on top of what has already been done. About what was expected. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted October 6, 2011 Share Posted October 6, 2011 £75BN it is then... BBC News are reporting both £75bn and £275bn . Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted October 6, 2011 Share Posted October 6, 2011 http://www.bankofengland.co.uk/publications/news/2011/092.htm Quote Link to comment Share on other sites More sharing options...
Gerinako Posted October 6, 2011 Share Posted October 6, 2011 "In the light of that shift in the balance of risks, and in order to keep inflation on track to meet the target over the medium term, the committee judged that it was necessary to inject further monetary stimulus into the economy." Yep - it really helped last time Quote Link to comment Share on other sites More sharing options...
zebbedee Posted October 6, 2011 Share Posted October 6, 2011 (edited) "In the light of that shift in the balance of risks, and in order to keep inflation on track to meet the target over the medium term, the committee judged that it was necessary to inject further monetary stimulus into the economy." Yep - it really helped last time They just don't get what the problem is, they can't afford wage inflation-businesses go bust and jobs lost, but the extra printy is driving prices higher so joe uptohiseyeballsindebt has less disposable income so economic activity contracts, house prices fall as mortgage lending is restricted by the poor disposable income, joe uptohiseyebalsindebt cant make mortgage payments and the banks who recieved all that lovely free money become insolvent again, so they print osme more. The BoE and government are the fecking problem. Edited October 6, 2011 by zebbedee Quote Link to comment Share on other sites More sharing options...
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