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Mervyn Kings Interview On Sky-

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Adamantly defends his reasoning for more of the same QE, says there is too little money in the economy, we need more money, inflation will fall back next years etc etc...................He is convinced, i think he know's something we are yet to find out, for me things have got to be real bad, very bad. Protect yourselves, i am off out to stock up on BigMacs and cans of pop...............o, and a pee shooter...................

Edited by Panda

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Adamantly defends his reasoning for more of the same QE, says there is too little money in the economy, we need more money, inflation will fall back next years etc etc...................He is convinced, i think he know's something we are yet to find out, for me things have got to be real bad, very bad. Protect yourselves, i am off out to stock up on BigMacs and cans of pop...............o, and a pee shooter...................

8 billion in bonuses says no.

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Britain could be in the grip of the "most serious financial crisis ever", the governor of the Bank of England has exclusively told Sky News.

http://news.sky.com/home/business/article/16084156

But Sir Mervyn admitted that it was impossible to tell for sure whether previous cash injections worth £200bn had actually worked.

But didn't he tell Stephanie Flanders they had analysed QE from last time and it worked?...

at 1:40 he says "we studied the action of the previous actions we took, they worked and..."

http://www.bbc.co.uk/news/business-15203847

Misreporting of his words to Sky News or...? :D

Edited by inflating

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http://news.sky.com/home/business/article/16084156

Breaking News
5:49pm UK, Thursday October 06, 2011
Fears UK Is In 'Worst Ever' Economic Crisis
Ed "Edmund" Conway, economics editor
Britain could be in the grip of the "most serious financial crisis ever", the governor of the Bank of England has exclusively told Sky News.

Good thing this came after cloose of biz on the stockmarket which seems to like the "bad news" around today.

5,291.26

+189.09 (3.71%)

Edited by Realistbear

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Sky News: Fears UK Is In 'Worst Ever' Economic Crisis

Ed Conway, economics editor

Britain could be in the grip of the "most serious financial crisis ever", the governor of the Bank of England has exclusively told Sky News.

Sir Mervyn King said the global and UK economies had been turned on their heads in the past three months alone and said: "The world has changed."

His warning comes after the bank's Monetary Policy Committee (MPC) voted to extend its programme of quantitative easing (QE) to boost economic growth.

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Most serious financial crisis ever?

And they are just repeating the policies that brought us to this juncture?

QE without cutting the deficit is like the sorceror's apprentice cutting the broom in half.

Edited by leicestersq

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King on BBC.....

He says BoE isn't trying to help business. it's about the "big picture"...that is propping up house prices. Everything else doesn't matter.

High house prices are the foundation and substance of the UK economy. There's no growth other than that which depends on inflation of the cost of a place to live.

It is a dismal admission from the UK's central bank.

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Most serious financial crisis ever?

And they are just repeating the policies that brought us to this juncture?

QE without cutting the deficit is like the sorceror's apprentice cutting the broom in half.

Right, 2 brooms are better than one. I know where I'd like to stick the handle.

Edited by ingermany

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Where we are used to seeing his poker face I thought I detected some real fear in his responses.

I want to think this was nervousness facing the camera (was the interview live?) but my head is telling me it was not...

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Where we are used to seeing his poker face I thought I detected some real fear in his responses.

I want to think this was nervousness facing the camera (was the interview live?) but my head is telling me it was not...

I thought that..he looked fearful, thinner and his face looked pasty, as if he was not keen on what he was doing, a lender of last resort. :blink:

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And they are just repeating the policies that brought us to this juncture?

True they have tried, but their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence. They know only the rules of a generation of self-seekers. They have no vision, and when there is no vision the people perish.
http://www.bartleby.com/124/pres49.html

There is nothing new under the sun. Everything in that speech could apply today.

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I heard the BBC interview with Flanders. Rather than nail his head against the wall, she blew smoke up his bottom. It is nothing more than theft, and he should be charged - but the great unwashed do not realise they are being done over.

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Its getting beyond a joke now, Mervyn King is targetting asset price inflation, he said on the BBC that QE or Asset Purchases will increase peoples wealth by maintaining or increasing the cost/value of peoples assets, stocks/shares/houses et al.............dimwit.....

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http://www.telegraph.co.uk/finance/financialcrisis/8782663/Debt-crisis-live.html

18.43 We covered Mervyn King's interview with Sky News earlier, where he said that this crisis was the worst since the 1930s, if not ever. We also mentioned that a Channel 4 interview is to come later on this evening.

Here's a clip from ITV's interview, where he claims that the challenge facing the world economy is greater now than it was during the credit crunch. He really has been busy...

Video at the link.

Looks like the elites are in brick 5h1tting time!

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Interview on the Beeb claimed that QE contributed an extra 2% growth to GDP and a mere 1.5% to inflation. Mmm?

How much of the GDP is from government deficit spending?

How much inflation is due to the devaluation of the pound?

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Its getting beyond a joke now, Mervyn King is targetting asset price inflation, he said on the BBC that QE or Asset Purchases will increase peoples wealth by maintaining or increasing the cost/value of peoples assets, stocks/shares/houses et al.............dimwit.....

Yes he said that.

So, asset prices up and unsafe levels of borrowing to help people buy those assets.

It's never gone wrong before has it?!

Unbelievable, are these people for real

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  • 276 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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