Si1 Posted December 12, 2019 Share Posted December 12, 2019 https://mises.org/wire/japanization-european-union According to this, a suitably rigid protected economy combined with zirp prevents creative destruction, hence you get the Japan effect. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 20, 2019 Share Posted December 20, 2019 People seem to think it's going to be Andrew Bailey "However, the FT reported that Dame Minouche, who is director of the London School of Economics, was informed this week that she was no longer in contention." Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted December 20, 2019 Share Posted December 20, 2019 I just saw breaking news on BBC it is Andrew Bailey. Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted December 20, 2019 Share Posted December 20, 2019 https://www.bbc.co.uk/news/business-50861129 Quote Link to comment Share on other sites More sharing options...
zugzwang Posted December 20, 2019 Share Posted December 20, 2019 How much are they paying him to tell us every month for the next five years that interest rates aren't going up? Quote Link to comment Share on other sites More sharing options...
DrMartinSanchez Posted December 20, 2019 Share Posted December 20, 2019 15 minutes ago, zugzwang said: How much are they paying him to tell us every month for the next five years that interest rates aren't going up? 8 years at £495,000 Quote Link to comment Share on other sites More sharing options...
longgone Posted December 20, 2019 Share Posted December 20, 2019 51 minutes ago, zugzwang said: How much are they paying him to tell us every month for the next five years that interest rates aren't going up? ? Quote Link to comment Share on other sites More sharing options...
rantnrave Posted December 20, 2019 Share Posted December 20, 2019 2 hours ago, zugzwang said: How much are they paying him to tell us every month for the next five years that interest rates aren't going up? Are we paying all his housing costs too? Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted December 20, 2019 Share Posted December 20, 2019 3 hours ago, DrMartinSanchez said: 8 years at £495,000 Bargain. Quote Link to comment Share on other sites More sharing options...
wheresitgoing Posted December 20, 2019 Share Posted December 20, 2019 Comapred with Mark’s package, housing and other bens on top. Looks like a modest salary rise from 480 to 485k quote from the Sun: The latest accounts from the Bank of England shows that Mr Carney earned £879,000 last year. This includes a £480,000 salary, £252,000 in taxable benefits, and £5,000-a-week housing allowance. In the same time period, the British Prime Minister was paid a salaryof £144,000. Quote Link to comment Share on other sites More sharing options...
spyguy Posted December 20, 2019 Share Posted December 20, 2019 On 07/12/2019 at 09:30, Si1 said: She makes my b#sh#t-ometer redline. Horrendous person. Youd have hope that the BoE and various governments would have learned to handle economists with a very very carefully. Macroeconomists are best left in dusty Uni. Letting them near a working economy is nuts. Quote Link to comment Share on other sites More sharing options...
spyguy Posted December 20, 2019 Share Posted December 20, 2019 5 hours ago, Si1 said: People seem to think it's going to be Andrew Bailey "However, the FT reported that Dame Minouche, who is director of the London School of Economics, was informed this week that she was no longer in contention." Women are sooo last year. Bailey beat everyone by turning up in a dress and cycling to the BoE H/T Greta ... Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 20, 2019 Share Posted December 20, 2019 1 hour ago, spyguy said: Youd have hope that the BoE and various governments would have learned to handle economists with a very very carefully. Macroeconomists are best left in dusty Uni. Letting them near a working economy is nuts. Bailey is a central banker, in academic terms a historian, and previously a PA to Eddie George. Not an economist. Not from Goldman Sachs. Ie they've turned back the clock to before Penfold. Apparently Phil Hammond didn't like him. He wasn't flashy enough or something. That's good enough for me . Quote Link to comment Share on other sites More sharing options...
spyguy Posted December 20, 2019 Share Posted December 20, 2019 3 hours ago, Si1 said: Bailey is a central banker, in academic terms a historian, and previously a PA to Eddie George. Not an economist. Not from Goldman Sachs. Ie they've turned back the clock to before Penfold. Apparently Phil Hammond didn't like him. He wasn't flashy enough or something. That's good enough for me . I meant the Minouche woman. Dont like a daft rconomist anywhere near a central bank or country treasury. Banking isnt economics, and economists arent much use in the real world, at least at the macro, directing an economy foward. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 20, 2019 Share Posted December 20, 2019 17 minutes ago, spyguy said: I meant the Minouche woman. Dont like a daft rconomist anywhere near a central bank or country treasury. Banking isnt economics, and economists arent much use in the real world, at least at the macro, directing an economy foward. Yes I realised you meant her. Sorry if I was misleading in my intentions Quote Link to comment Share on other sites More sharing options...
Will! Posted December 21, 2019 Share Posted December 21, 2019 On 20/12/2019 at 09:15, bomberbrown said: I just saw breaking news on BBC it is Andrew Bailey. There’s a good write up in the current Private Eye of “the Fundamentally Complicit Authority and its Oliver Hardy-like chief executive Andrew Bailey” and the suspension of redemptions by the M&G Property Portfolio fund. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 21, 2019 Share Posted December 21, 2019 4 minutes ago, Will! said: There’s a good write up in the current Private Eye of “the Fundamentally Complicit Authority and its Oliver Hardy-like chief executive Andrew Bailey” and the suspension of redemptions by the M&G Property Portfolio fund. the trouble with something like a property portfolio fund is that it is a very specialist area - why on earth these things can possibly count as 'regulated investments' is beyond me. I can't see any circumstance that an unsophisticated investor with less than a million or so in assets would explicitly invest in such a thing. As to Woodford - well that's a different and more nefarious thing altogether. Quote Link to comment Share on other sites More sharing options...
mallish Posted December 23, 2019 Share Posted December 23, 2019 On 12/11/2019 at 2:31 PM, Si1 said: They say Hitler was charming. he loved his dog Quote Link to comment Share on other sites More sharing options...
Bear Goggles Posted December 23, 2019 Share Posted December 23, 2019 On 20/12/2019 at 09:29, zugzwang said: How much are they paying him to tell us every month for the next five years that interest rates aren't going up? A couple of years ago I was training for a marathon and coincidentally so was Mark Carney. I was in my early 40s and working full time. He was in his mid 50s. I did as much training as I could fit around the pressures of work, it was exhausting at times, but I managed to run a 3:47 at the Nottingham marathon. I gave it everything and the last 3 miles or so we’re monumentally painful. Carney ran around a 3:30 at the London marathon, and it was at that point that I realised that he was not very busy. It’s not possible to run that kind of time at that age without putting serious hours of training in. He obviously had a lot of spare time on his hands. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 23, 2019 Share Posted December 23, 2019 (edited) 55 minutes ago, Bear Goggles said: A couple of years ago I was training for a marathon and coincidentally so was Mark Carney. I was in my early 40s and working full time. He was in his mid 50s. I did as much training as I could fit around the pressures of work, it was exhausting at times, but I managed to run a 3:47 at the Nottingham marathon. I gave it everything and the last 3 miles or so we’re monumentally painful. Carney ran around a 3:30 at the London marathon, and it was at that point that I realised that he was not very busy. It’s not possible to run that kind of time at that age without putting serious hours of training in. He obviously had a lot of spare time on his hands. I'm not one to defend him but he may have hired a top PT (he can afford it) which is a big boost to fitness training. Probably got easy access to a state of the art virtually private gym at the BoE etc. Edited December 23, 2019 by Si1 Quote Link to comment Share on other sites More sharing options...
Hecto Posted December 24, 2019 Share Posted December 24, 2019 BOE discovers house price rises mainly due to low interest rates and not lack of supply.... Hello. https://www.independent.co.uk/news/business/news/uk-house-prices-rise-interest-rates-mortgages-bank-of-england-a9258196.html Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 24, 2019 Share Posted December 24, 2019 1 hour ago, Hecto said: BOE discovers house price rises mainly due to low interest rates and not lack of supply.... Hello. https://www.independent.co.uk/news/business/news/uk-house-prices-rise-interest-rates-mortgages-bank-of-england-a9258196.html I recall the BoE research note on this being discussed on hpc some months ago. There really have been heads in very senior positions in govt and civil service that saw no downsides to near zero interest rates . Quote Link to comment Share on other sites More sharing options...
DarkHorseWaits-NoMore Posted December 26, 2019 Share Posted December 26, 2019 (edited) Nationwide average house prices adjusted for inflation Only just noticed, updated to 2019 Q3 data, thanks. Period Covered House Price "Real" House Price Trend in "Real" House Prices 2019 Q3 £216,805 £216,805 £249,653 Wondering festively... if HPI will continue to roughly track sideways for 10+ years or not. So where's the chart going post 2020 WA/Brexit? UK base rate at 0.75% (emergency rates remain the norm). Expecting BOE/gov't to deliver some more HPI and BTL props, QE and FLS type trickery? Net immigration to remain 200k/year? Edited December 26, 2019 by DarkHorseWaits-NoMore typo's Quote Link to comment Share on other sites More sharing options...
hurlerontheditch Posted January 9, 2020 Share Posted January 9, 2020 sterling down today.. Carney making noises about interest rate cut Quote Link to comment Share on other sites More sharing options...
Wayward Posted January 9, 2020 Share Posted January 9, 2020 50 minutes ago, hurlerontheditch said: sterling down today.. Carney making noises about interest rate cut extract from BBC...today Sterling has fallen to its lowest level against the dollar for nearly two weeks. The drop follows comments by Bank of England governor Mark Carney who said that there could be a “relatively prompt response” if it looked like weakness in the economy would persist. This hint that interest rates could be cut to stimulate the economy prompted sterling to fall by 0.5% to $1.3028, its lowest level since 27 December. The pound also fell by 0.5% against the euro, to 1.1735. The betting on the markets is there's about a 60% chance of a 0.25% cut in interest rates by December. Mr Carney also referred to the potential to increase quantitative easing - the bank pumping more money into the economy by buying government bonds - in order to stimulate the economy. He said there was room to "at least double" the bank's £60bn stimulus package of August 2016 Quote Link to comment Share on other sites More sharing options...
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