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Mr Osborne And Printing Money - 2009 And 2011

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http://www.investmentweek.co.uk/investment-week/news/2115108/osborne-2009-printing-money-resort-desperate-govts

George Osborne is set to face tough questions today about the coalition government's economic strategy after the Bank of England expanded quantitative easing by £75bn, a move he has previously called "the last resort of desperate governments".

Osborne said at the time: "The very fact the Treasury is speculating about printing money shows Gordon Brown has led Britain to the brink of bankruptcy.

I just heard Mr O outside No.11 on the news endorsing QE for the UK

In a letter to BoE Governor Mervyn King, Osborne gave the go-ahead to the central bank to inject a further 75 billion pounds into the economy via the purchase of UK government bonds and other private sector assets.

http://www.reuters.com/article/2011/10/06/britain-boe-osborne-idUSAHL6LE74H20111006

How embarrassing (for all of us who voted Tory)

My confidence in them all is nil

Edited by inflating

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and the MPC muppets are still braying about the dangers of undershooting the 2% inflation target in the medium term.

I don't think they need worry......sterling is tanking against the sick euro again......that should boost our inflation.

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and the MPC muppets are still braying about the dangers of undershooting the 2% inflation target in the medium term.

I don't think they need worry......sterling is tanking against the sick euro again......that should boost our inflation.

King is apparently giving an unterview on BBC News at 5pm, wonder how much he'll squirm. Oh sorry he won't, his pension is index linked

'Printing money is the last resort of desperate governments when all other policies have failed'-- George Osborne

Got to laugh, how much must he cringe every time he reads that, I don't know if he's been forced into this embarrassing U-turn or what, but it just screams exactly what he warned about

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and the MPC muppets are still braying about the dangers of undershooting the 2% inflation target in the medium term.

I don't think they need worry......sterling is tanking against the sick euro again......that should boost our inflation.

Don't worry, the weaker Pound will boost our exports and will have no negative effect on manufacturing such as the $640 we just spent on raw materials this afternoon. I should have bought yesterday but wasn't expecting printy this soon.

Oh ****** it much more of this and I'm just going to do an Atlas too.

Sorry just a bit pssed off right now.

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QE is so ignorant, I'm absolutely amazed they've done it again.

Brown/Darling could at least argue it from a (false) Keynesian economics standpoint, but Osbourne knows how stupid and desperate this is .... so why/how can it go ahead and do it!!!!!

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Brown/Darling could at least argue it from a (false) Keynesian economics standpoint, but Osbourne knows how stupid and desperate this is .... so why/how can it go ahead and do it!!!!!

You do realise that there is virtually no difference between the main parties?

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QE is so ignorant, I'm absolutely amazed they've done it again.

Brown/Darling could at least argue it from a (false) Keynesian economics standpoint, but Osbourne knows how stupid and desperate this is .... so why/how can it go ahead and do it!!!!!

I can think of an explanation - he's scared he'll sleep with the fishes if he doesn't?

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QE is so ignorant, I'm absolutely amazed they've done it again.

Brown/Darling could at least argue it from a (false) Keynesian economics standpoint, but Osbourne knows how stupid and desperate this is .... so why/how can it go ahead and do it!!!!!

Because he doesn't represent your interests but those of the plutocracy/corporatocracy. They are the ones who QE is aimed for and who benefit from it, not you.

Haven't you figured that out by now?

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How embarrassing (for all of us who voted Tory)

My confidence in them all is nil

I voted Tory, but despite noting David Cameron's distaste for QE1, It was obvious that they would print.

The markets need that "warm fuzzy feeling" they get from a dose of QE for a couple more years by which time it will be Labour's problem.

Labour will then have less room to manoeuvre when this sucker finally goes down.

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I voted Tory, but despite noting David Cameron's distaste for QE1, It was obvious that they would print.

The markets need that "warm fuzzy feeling" they get from a dose of QE for a couple more years by which time it will be Labour's problem.

Labour will then have less room to manoeuvre when this sucker finally goes down.

I won't be voting Tory again, nor Labour or LibDem. If I bother at all it will be for an independent or UKIP. Where I used to live, the independent councillor candidates won seat after seat, and I wonder if the Commons is going to go the same way

OTOH I may be abroad again anyway, as quality of life here stinks. Only got to walk the lowlife infested high street and read the local paper to make me want to run screaming back to Stansted

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Guest spp

You do realise that there is virtually no difference between the main parties?

Yep...the punch n judy show making you think you have a choice. They like to call it 'democracy' :blink:

Ron Paul and Nigel Farage must really get on their nerves.

Edited by spp

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Labour will then have less room to manoeuvre when this sucker finally goes down.

Presumably you mean by that time, only half the national debt will remain, because the tories will have monetized another four tenths of it? Assuming labour follows a similar routine in the next parliament, that should leave about 1/10 of it by the time the tories get in.

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Presumably you mean by that time, only half the national debt will remain, because the tories will have monetized another four tenths of it? Assuming labour follows a similar routine in the next parliament, that should leave about 1/10 of it by the time the tories get in.

Quiet possible but don't you think there will be consequences.

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Quiet possible but don't you think there will be consequences.

doing nothing has consequences, doing something has consequences, and doing half of nothing has consequences.

So far what I see is we have monetised over a fifth of the national debt and inflation isn't much different to what it was in 2007, and interest rates are much lower.

Quite possibly in ten years we'll have monetised a lot more and things won't be much different.

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doing nothing has consequences, doing something has consequences, and doing half of nothing has consequences.

So far what I see is we have monetised over a fifth of the national debt and inflation isn't much different to what it was in 2007, and interest rates are much lower.

Quite possibly in ten years we'll have monetised a lot more and things won't be much different.

I can only assume you have a partner who does the weekly shopping?.

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I can only assume you have a partner who does the weekly shopping?.

No we both do the shopping and I do half the cooking too, plus we have 3 kids.

I'd have to admit I don't do any ironing.

I grow all the veg.

Its remarkable how much money people waste because they can't or won't cook.

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Cameron 2009 Tory conference

Our national debt has doubled in the last five years and our annual deficit next year will be over £170bn.

That's twice as big as when we nearly went bankrupt in the 1970s. It is a massive risk to our economy. If we spend more than we earn, we have to get the money from somewhere. Right now, the government is simply printing it. Sometime soon that will have to stop, because in the end, printing money leads to inflation. Then the government will have to borrow it.

But we'll only be given the money if lenders are confident we can pay it back. If they're not, we'll have to pay higher interest rates and that could stop our economic recovery in its tracks.

So we have three choices.

Option one: we can just default on the debt. Not pay it. Other countries have done that in the past. But I don't think anyone in this country wants to go down that road.

Option two: we could encourage inflation, which would wipe out the value of the debt, making it easier to pay off. But that's not just an economic disaster – it's a social disaster too. It doesn't just wipe out debts, it wipes out people's hard-earned savings.

So we have the third option — for me the only option. We must pay down this deficit. The longer we leave it, the worse it will be for all of us.

http://www.guardian.co.uk/politics/2009/oct/08/david-cameron-speech-in-full

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This is pissing me off no end. What is pissing me off even more is that the British Electorate, as a whole, are entirely CLUELESS and couldn't care less.

Ask people in your office - do you know what QE is? Do you what what it results in? The answer nine times out of ten will be "I don't watch the news". I don't vote. I don't care.

I've done my bit and armchair emailed at least. I'm looking for political parties to join up but seriously, which one will it be?

I guess my email is now lodged in the Stasi-network of course and I will be sent for re-programming. QE is good. yes, really good.

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Thank you very much for your e-mail to George Osborne.

If you are contacting George in his capacity as Chancellor of the Exchequer, please re-send your e-mail to: public.enquiries@hm-treasury.gov.uk<mailto:public.enquiries@hm-treasury.gov.uk>. Alternatively, write to The Correspondence & Enquiry Unit, HM Treasury, 1 Horseguards Road, London, SW1A 2HQ or telephone 020 7270 4558.

If you are one of George's Tatton constituents, please ensure that you have included your full postal address and postcode, so that we can identify you as a constituent. The Tatton office, which is for constituent enquiries only, can be reached on 01565 873037.

If you are a personal contact of George's, your e-mail will be forwarded accordingly.

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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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