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Bank Of England's Fisher Warns Uk Recovery Will Take Time

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http://uk.reuters.com/article/2013/06/12/uk-britain-boe-fisher-idUKBRE95B05F20130612

Britain's economy may take longer to recover than that of the United States, Bank of England policymaker Paul Fisher was quoted as saying on Wednesday.

"At the moment the macroeconomic outlook here is not as bright as in the U.S., therefore we are some way behind them in terms of return to anything like trend growth, and so the question (of exit from monetary stimulus) will come to us a bit later," he was quoted as saying by The Times newspaper.

Fisher, a member of the British central bank's rate-setting Monetary Policy Committee, said recent market gyrations showed investors had belatedly realised that a U.S. recovery may be likely but the UK was still one or two years behind.

The only answer we have is printy printy and it's not working....

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UK printy printy is about maintaining the status quo, not about moving on. The UK may never recover, the UK may still be printing in 20 years time. Living standards and real incomes will continue to fall, housing will remain unaffordable without printed money being used to subsidise rents and mortgage rates and people will continue to go about their everyday lives thinking that what is being done to them is normal. It will be like the days before the 1960's where people in the UK would look at other countries as different world with strange lifestyles they could never live because they are unique and British. Save the pound.

Edited by campervanman

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There it is again...that magic term 'growth'.

We keep getting told we need growth.

Nothing grows forever so a plan was/is needed for when growth stops.

If growth is their plan to cover the money the country has already spanked then we might be in some trouble.

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There it is again...that magic term 'growth'.

We keep getting told we need growth.

Nothing grows forever so a plan was/is needed for when growth stops.

If growth is their plan to cover the money the country has already spanked then we might be in some trouble.

When I was in business, I never managed to get my head around the growth thing, so I ignored it.

People used to spout the "stand still and you die" mantra and most businessmen seemed to believe it and borrowed money to finance growth at the expense of profit. Often the business went bust and they lost their houses that were used to guarantee the company overdraft.

I used to have good years and bad years, measured in profit, and I saved profit from good years to carry me through bad years, turnover used to fluctuate but who cares about turnover as long as you have enough to generate profit.

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When I was in business, I never managed to get my head around the growth thing, so I ignored it.

People used to spout the "stand still and you die" mantra and most businessmen seemed to believe it and borrowed money to finance growth at the expense of profit. Often the business went bust and they lost their houses that were used to guarantee the company overdraft.

I used to have good years and bad years, measured in profit, and I saved profit from good years to carry me through bad years, turnover used to fluctuate but who cares about turnover as long as you have enough to generate profit.

I vote Bruce for Chancellor !!!

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"At the moment the macroeconomic outlook here is not as bright as in the U.S., ..

"At the moment" :lol::lol:

The UK's "macroeconomic outlook" hasn't been as bright as in the US for decades now but the difference was masked in recent years through bulk borrowing. Similarly in comparison to some european countries like Germany.

Before the bulk borrowing the UK might have been 10 or so years behind the US and constantly just trying to feebly tail end onto US economic trends rather than the US outright performance.

Add on at least another 6 years (likely with more to go) to the amount the UK was already behind due to more inept policies as followed in the 6 years since the economic collapse, that is policies similar to more recent policies called moronic even by some bankers.

Edited by billybong

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Fisher is every bit as stupid as King. UK GDP growth is entirely on trend. Zero growth is the new normal, at least until the country defaults on its debts. Negative growth and Third World status thereafter.

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When I was in business, I never managed to get my head around the growth thing, so I ignored it.

People used to spout the "stand still and you die" mantra and most businessmen seemed to believe it and borrowed money to finance growth at the expense of profit. Often the business went bust and they lost their houses that were used to guarantee the company overdraft.

I used to have good years and bad years, measured in profit, and I saved profit from good years to carry me through bad years, turnover used to fluctuate but who cares about turnover as long as you have enough to generate profit.

Apply for business credit anywhere and the proforma they send out will ask you what turnover you are making.

they never ask for Profits.

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Apply for business credit anywhere and the proforma they send out will ask you what turnover you are making.

they never ask for Profits.

I've been retired for five years so perhaps I'm out of date, but I never had any problem opening credit accounts. I would give a few long term suppliers as references and nine times out of ten would get my requested 60 days EOM terms, but then I never, ever, paid late.

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  • 238 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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