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Are They Going After Merv The Swerv?


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Well 'Danny' was Labour's placeman - Gordo's mate. Merv will never have trusted him. Frankly he didn't have the right qualifications to sit on such a committee.

So Merve's 'Qualifications' and 'huge internal banking experience' helped him not-spotting a Blitish bank run loo_ming? Classic :D

Iron-fist's Water-loo with tenner toilet paper after his inflationary rip-off QE

How can any of his underlings look up to him knowing that?

Edited by erranta
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So Merve's 'Qualifications' and 'huge internal banking experience' helped him not-spotting a Blitish bank run loo_ming?

Fascinating chinese "slant".

On the point about imminent tightening, from MPC member last month:

Mr Broadbent said the recovery to date had been so weak that it "barely deserves the name", and said monetary policy could be tightened even if household debt to income ratios remained above historical norms, should eurozone risks abate and UK bank funding costs come down.

"It is perfectly possible that funding and credit conditions could improve, and a withdrawal of monetary accommodation become warranted, quite independently of the gearing of domestic creditors", he said.

However, he emphasised that he was not advocating a withdrawal of monetary stimulus "any time soon".

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9146480/Britons-didnt-borrow-too-much-MPC-member-says.html

I think in the US they call it jaw-boning.

He was sanguine about UK household borrowing, saying it had kept pace with earnings. That may be true overall, but not for a big slice of the population.

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Fascinating chinese "slant".

On the point about imminent tightening, from MPC member last month:

Mr Broadbent said the recovery to date had been so weak that it "barely deserves the name", and said monetary policy could be tightened even if household debt to income ratios remained above historical norms, should eurozone risks abate and UK bank funding costs come down.

"It is perfectly possible that funding and credit conditions could improve, and a withdrawal of monetary accommodation become warranted, quite independently of the gearing of domestic creditors", he said.

However, he emphasised that he was not advocating a withdrawal of monetary stimulus "any time soon".

http://www.telegraph...ember-says.html

I think in the US they call it jaw-boning.

He was sanguine about UK household borrowing, saying it had kept pace with earnings. That may be true overall, but not for a big slice of the population.

I've got a thing about the City Heraldic 'Dragons' they operate under! :P

THE LEIC(-ester) London East India Corporation "The Corporation that Changed the World" ran the Opium drug trade taking over the Chinese and operating from a City-based dock also under a "Dragon" flag as they extended the Blitish Empire trampling on all before it

I reckon the City Financial sharks are going to stage a massive rip-off of Chinese Yen trading when it starts and cause a war - cos the b_ast_ards are unregulated and pure psychos

(wonderfull thinking you have been specially psychometric 'assessed' and picked for those City jobs - eh?)

Edited by erranta
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I see also that Adam Posen is getting in his view by having an incredibly sycophantic interview in the London Evening Standard. This interview is so fawning it tells us this.

Given Posen’s position on the MPC as the man who has largely called the economy right over the last couple of years, the Bank — and Chancellor George Osborne — could do a lot worse.

http://www.thisislondon.co.uk/business/markets/economic-analysis-banks-fireman-who-quelled-the-flames-of-crisis-7660775.html

Mind you I see that there has been a reply which offers a rebuttal to this view. And lets face it such waffle and writng of history does require a response.

Those who read this article need in my view to be aware that Russell is also a supporter of the policies of Adam Posen and accordingly fails to mention several salient facts. From my blog today.

"There was one change in this months minutes and it was that Adam Posen did not vote for further monetary easing. Perhaps he was mulling this interview he gave to the Guardian back in March 2011.

If I have made the wrong call, not only will I switch my vote; I would not pursue a second term.

This is predicated around inflation falling to 1.5% this summer. Perhaps he has “laid awake at night thinking about it”. Although he may have had a chat with MPC colleague Paul Tucker.

I think inflation might remain above 3% throughout the second quarter of this year, and possibly into the second half of the year."

http://www.mindfulmoney.co.uk/wp/shau­n-richards/the-bank-of-england-can-not-­rule-out-that-the-uk-will-have-gdp-fall­ing-for-three-successive-quarters/

In fact rather than putting out the fire the result of these policies has been put like this by the latest Bank of England minutes.

"downside news on the near-term path of GDP likely to be published by the ONS and by the upside news on the near-term path for inflation."

Yes they have finally recognised perhaps that we have got plenty of inflation from Quantitative Easing but very little extra output.

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http://www.telegraph.co.uk/finance/economics/9212660/Mervyn-King-runs-Bank-of-England-like-a-tyrant-says-former-MPC-member-David-Blanchflower.html

QE to end, maybe?

David Blanchflower, who sat on the Monetary Policy Committee between 2006 and 2009, claimed Sir Mervyn "controlled the Bank with an iron fist", oversaw an organisation with shockingly "low morale" and was "unprepared for the crisis" that wrecked the world economy.

"A tyrant looks to his own advantage rather than that of his subjects and uses extreme and cruel tactics," said Mr Blanchflower, noting that was how Sir Mervyn ran the Bank.

indeed,would he also be referring to labours "good day to bury bad news????"

the pantomime is starting to get rather irritating.

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  • 429 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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