Panda Posted October 6, 2011 Share Posted October 6, 2011 (edited) 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 October 6, 2011 by Panda Quote Link to comment Share on other sites More sharing options...
cool_hand Posted October 6, 2011 Share Posted October 6, 2011 Thoughts? Yes we're being robbed. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted October 6, 2011 Share Posted October 6, 2011 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. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted October 6, 2011 Share Posted October 6, 2011 Didn't he also say that's he's not even sure if the last lot of £200bn worked or not!? Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted October 6, 2011 Share Posted October 6, 2011 Just watching the interview with BBC Stephanie Flanders. Quote Link to comment Share on other sites More sharing options...
northwestsmith2 Posted October 6, 2011 Share Posted October 6, 2011 Didn't he also say that's he's not even sure if the last lot of £200bn worked or not!? He is forever a bumbling apologist in my view. Always saying how he got things wrong never making the right choices. Quote Link to comment Share on other sites More sharing options...
inflating Posted October 6, 2011 Share Posted October 6, 2011 (edited) 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...? Edited October 6, 2011 by inflating Quote Link to comment Share on other sites More sharing options...
Realistbear Posted October 6, 2011 Share Posted October 6, 2011 (edited) 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 October 6, 2011 by Realistbear Quote Link to comment Share on other sites More sharing options...
Panda Posted October 6, 2011 Author Share Posted October 6, 2011 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. Quote Link to comment Share on other sites More sharing options...
leicestersq Posted October 6, 2011 Share Posted October 6, 2011 (edited) 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 October 6, 2011 by leicestersq Quote Link to comment Share on other sites More sharing options...
ingermany Posted October 6, 2011 Share Posted October 6, 2011 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. Quote Link to comment Share on other sites More sharing options...
ingermany Posted October 6, 2011 Share Posted October 6, 2011 (edited) 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 October 6, 2011 by ingermany Quote Link to comment Share on other sites More sharing options...
geezer466 Posted October 6, 2011 Share Posted October 6, 2011 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... Quote Link to comment Share on other sites More sharing options...
SleepyHead Posted October 6, 2011 Share Posted October 6, 2011 He's got a bloody good sun tan. Says it all. http://www.bbc.co.uk/news/business-15203847 Quote Link to comment Share on other sites More sharing options...
nmarks Posted October 6, 2011 Share Posted October 6, 2011 He's got a bloody good sun tan. Says it all. http://www.bbc.co.uk/news/business-15203847 I noticed he's wearing new glasses. I hope he went to Specsavers. Quote Link to comment Share on other sites More sharing options...
winkie Posted October 6, 2011 Share Posted October 6, 2011 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. Quote Link to comment Share on other sites More sharing options...
leicestersq Posted October 6, 2011 Share Posted October 6, 2011 He's got a bloody good sun tan. Says it all. http://www.bbc.co.uk/news/business-15203847 It might not only be his face that is brown. Quote Link to comment Share on other sites More sharing options...
thod Posted October 6, 2011 Share Posted October 6, 2011 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.htmlThere is nothing new under the sun. Everything in that speech could apply today. Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted October 6, 2011 Share Posted October 6, 2011 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. Quote Link to comment Share on other sites More sharing options...
Panda Posted October 6, 2011 Author Share Posted October 6, 2011 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..... Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted October 6, 2011 Share Posted October 6, 2011 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! Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted October 6, 2011 Share Posted October 6, 2011 Ooops, didn't see this thread. Clearly brick 5h1tting time within the elites, positioning themselves to try and escape the noose? Quote Link to comment Share on other sites More sharing options...
tinker Posted October 6, 2011 Share Posted October 6, 2011 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? Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted October 6, 2011 Share Posted October 6, 2011 When Steph Flanders on the Beeb interviewed him asking about savers didn't he say "F*ck the savers!" or something along those lines? Or did I mishear that? Quote Link to comment Share on other sites More sharing options...
inflating Posted October 6, 2011 Share Posted October 6, 2011 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 Quote Link to comment Share on other sites More sharing options...
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