Frugal Git Posted June 30, 2016 Share Posted June 30, 2016 I am *seriously* looking forward to a large salted popcorn primed for when the August CPI/RPI figures come out. #1 It's going to be interesting to see how the basket gets manipulated. I wonder what will be taken out to mask the truth....I've already seen serious rises in certain bits of electronics (computer parts/cameras). Many retailers have not been shy of passing on this wonderful news to consumers - and good on them. Now let's see how they hide it. #2 Listening to that tw@ Carney justifying slashing the base rate and more QE whilst all this occurs. #3 Watching the media cover it without asking any real questions whatsoever. #4 And later laughing as I'm given my 2% annual rise next year regardless of the humongous global devaluation of my earnings.. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted June 30, 2016 Share Posted June 30, 2016 What did you expect the response to be. The only thing left in the pot is the 'threaten' qe and nirp. I'm surprised petrol is still 1.10. Shouldn't it be 15% higher with the pound? Who cares as long as the rich get richer? Tptb don't. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 30, 2016 Share Posted June 30, 2016 I am *seriously* looking forward to a large salted popcorn primed for when the August CPI/RPI figures come out. #1 It's going to be interesting to see how the basket gets manipulated. I wonder what will be taken out to mask the truth....I've already seen serious rises in certain bits of electronics (computer parts/cameras). Many retailers have not been shy of passing on this wonderful news to consumers - and good on them. Now let's see how they hide it. #2 Listening to that tw@ Carney justifying slashing the base rate and more QE whilst all this occurs. #3 Watching the media cover it without asking any real questions whatsoever. #4 And later laughing as I'm given my 2% annual rise next year regardless of the humongous global devaluation of my earnings.. I have already seen food prices go up in some supermarkets. Just browsing through both stores yesterday I was very surprised by the price increases. Actually, shocked in some cases. If this was WW2 it would be called blatant profiteering. Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted June 30, 2016 Share Posted June 30, 2016 (edited) I have already seen food prices go up in some supermarkets. Just browsing through both stores yesterday I was very surprised by the price increases. Actually, shocked in some cases. If this was WW2 it would be called blatant profiteering. Yes - same. Never mind though eh....I hold quite a few of their shares and they'r e just thinking about my divi . Stuff the poor sod who's actually working for minimum wage eh and for whom this actually could be a problem (in case I've laid it on a bit too thick, it is truly disgraceful). I mean it's not like what's on the shelves right now was bought and paid for weeks ago. What did you expect the response to be. The only thing left in the pot is the 'threaten' qe and nirp. I'm surprised petrol is still 1.10. Shouldn't it be 15% higher with the pound? Who cares as long as the rich get richer? Tptb don't. Yep I noticed that too. Normally the petrol stations are well on the ball with raising alongside the wholesale oil price - and very slow on the downside. Very surprising indeed! I'm sure they'll get with the program real soon now. Again, I've got my RDSB to soften the blow. Once you've realised what a bunch of self serving t*ts the entire lot of them are - life gets a hell of a lot easier. Edited June 30, 2016 by Frugal Git Quote Link to comment Share on other sites More sharing options...
Kiwi Toast Posted June 30, 2016 Share Posted June 30, 2016 Interest rate decision are determined by the MPC vote. Carney alone doesn't decide what happens. Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted June 30, 2016 Share Posted June 30, 2016 Interest rate decision are determined by the MPC vote. Carney alone doesn't decide what happens. No that is very true indeed - and I'm certain the rest of the committee are fiercely independent thinkers. We're in safe hands people. Quote Link to comment Share on other sites More sharing options...
Kiwi Toast Posted June 30, 2016 Share Posted June 30, 2016 Haha! Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 1, 2016 Share Posted July 1, 2016 Maybe I missed something but didn't Osborne say rates would go up? Yes we must avoid recessions at all costs. This is modern economics as per people with PhDs in the subject. Fortunately the press is querying this idea.... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 1, 2016 Author Share Posted July 1, 2016 (edited) I raised this point on another thread and you called me Trolly McTroll. I would love hpc but I knew Brexit wouldn't be good news. I said Carney would reduce rates. I said property just got cheaper to foreign buyers due to weak pound. I said yields are now at record lows and as such mortgages will be cheaper. I said the Turkeys have voted for Christmas. Turkeys are thick as **** too. What's your thoughts now Countface? Trolly McTroll face strikes again, Come back when he';s actually done what he says...he has a bit of a track record on that front... Edited July 1, 2016 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Blod Posted July 1, 2016 Share Posted July 1, 2016 Trolly McTroll face strikes again, Come back when he';s actually done what he says...he has a bit of a track record on that front... Exactly. Has he ever carried through with any change he's threatened. In fact I noticed that unlike his previous speeches he highlighted the issues that low rates present for bank profitablity. That was after having gone to some length to reinforce the feeling that the banks have healthy reserves. In fact he paused for effect to make the point that supposedly they have been checked against a shock TWICE as severe as in 2008. He also warned that changes in rates at the current level or lower have far small effects than when rates are at normal levels. It would be out of form if he did anything. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted July 1, 2016 Share Posted July 1, 2016 Management by implication. Quote Link to comment Share on other sites More sharing options...
slawek Posted July 1, 2016 Share Posted July 1, 2016 Healthy bank capital reserves means "banks are in bad shape". Cheap talk to reassure everyone but the reality is quite opposite. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 1, 2016 Share Posted July 1, 2016 Judging by what has happened in Italy re EU money for their banks, and the sharp drop in the share price of DB, I am leaning more towards Carney's speech being more about perceived immediate dangers to the banking system this week. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 1, 2016 Author Share Posted July 1, 2016 (edited) Exactly. Has he ever carried through with any change he's threatened. In fact I noticed that unlike his previous speeches he highlighted the issues that low rates present for bank profitablity. That was after having gone to some length to reinforce the feeling that the banks have healthy reserves. In fact he paused for effect to make the point that supposedly they have been checked against a shock TWICE as severe as in 2008. He also warned that changes in rates at the current level or lower have far small effects than when rates are at normal levels. It would be out of form if he did anything. Did you read between the lines...I paraphrase but he said something like....there was nothing much they could do really. A lot can happen in the next week or so. I wonder how much of this was to do with Boris, the Bulli boy and I guess 1%ers favourite, doing one. Edited July 1, 2016 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
VeryMeanReversion Posted July 1, 2016 Share Posted July 1, 2016 Astrazeneca pays a 4.3% dividend, BAE Systems pays 4.1%, United Utilities pays 3.8%, British American Tobacco pays 3.3%, Unilever pays 2.7%. Their share prices have all risen post referendum. Just saying. I've been saying the same on here for a while.... My pension was in cash for a while paying 0% with running costs of 0.6% (discount stakeholder) If I use Treasuries, I can get 0.87% (10yrs) with running costs of 0.5% (not easy to buy directly) If I use equities, I can get 4% with running costs of 0.1% So even if equities are 30% lower after 10 years, they are still the best option for me. I can cope with the volatility. The more they talk about lowering interest rates and QE, the more I feel cash it trash (which is one reasons they talk about it of course). At least with equities, you own something that is difficult to confiscate and FTSE100 companies are good for foreign income. Land/property it the only other thing that qualifies (for me) but as we all know, the prices of them are already crazy. Quote Link to comment Share on other sites More sharing options...
cool_hand Posted July 1, 2016 Share Posted July 1, 2016 How did this idiot ever manage to get such a position? Are you talking about Carney or Jacob Rees Mogg? Ex Goldman Sucks Carney who blew a bubble in the Canadian property market was handed the job on a plate by Osbourne. Jacob Rees Mogg may talk a bit funny but he's no idiot, a credit to public office IMO. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 1, 2016 Author Share Posted July 1, 2016 I've been saying the same on here for a while.... My pension was in cash for a while paying 0% with running costs of 0.6% (discount stakeholder) If I use Treasuries, I can get 0.87% (10yrs) with running costs of 0.5% (not easy to buy directly) If I use equities, I can get 4% with running costs of 0.1% So even if equities are 30% lower after 10 years, they are still the best option for me. I can cope with the volatility. The more they talk about lowering interest rates and QE, the more I feel cash it trash (which is one reasons they talk about it of course). At least with equities, you own something that is difficult to confiscate and FTSE100 companies are good for foreign income. Land/property it the only other thing that qualifies (for me) but as we all know, the prices of them are already crazy. They are doing a great job of getting people to buy into a massive bubble right now Quote Link to comment Share on other sites More sharing options...
R K Posted July 1, 2016 Share Posted July 1, 2016 Healthy bank capital reserves means "banks are in bad shape". Cheap talk to reassure everyone but the reality is quite opposite. Evidence? Im all for being critical but if you want to assert something like that then back it up. Theres more than enough nonsense on here already without gratuitously adding to it. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted July 1, 2016 Share Posted July 1, 2016 Exactly. Has he ever carried through with any change he's threatened. In fact I noticed that unlike his previous speeches he highlighted the issues that low rates present for bank profitablity. That was after having gone to some length to reinforce the feeling that the banks have healthy reserves. In fact he paused for effect to make the point that supposedly they have been checked against a shock TWICE as severe as in 2008. He also warned that changes in rates at the current level or lower have far small effects than when rates are at normal levels. It would be out of form if he did anything. The Bank of England's 'plan' (i.e. slash interest rates, flood the banks with cash) is simply the Greenspan Put by another name. Supposed to restore the global economy to a sustainable equilibrium, Greenspan's folly has in fact had the opposite effect, de-stabilising it completely. Only an 'expert' could fail to see this. Quote Link to comment Share on other sites More sharing options...
cool_hand Posted July 1, 2016 Share Posted July 1, 2016 (edited) https://petition.parliament.uk/petitions/130229 https://petition.parliament.uk/petitions/130603 Carney can't be sacked by petition, WTF? Edited July 1, 2016 by cool_hand Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 1, 2016 Author Share Posted July 1, 2016 The endless funny video clips of Hitlers last days in the bunker in Berlin is right now gagging for the best of them all, the Bremainers and old establishment not having yet quite grasped that the country last week stuck their fingers up to them, yet the BOE and Carney, the media, politicians, the 1% still cannot except it, it is like a frightened child pulling a blanket over his head at night to keep the monsters away. The thing is they dont have to accept it and they wont. Then things turn nasty Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 1, 2016 Author Share Posted July 1, 2016 https://petition.parliament.uk/petitions/130229 https://petition.parliament.uk/petitions/130603 Carney can't be sacked by petition, WTF? I think we really all have to get out the UK now Quote Link to comment Share on other sites More sharing options...
slawek Posted July 1, 2016 Share Posted July 1, 2016 Evidence? Im all for being critical but if you want to assert something like that then back it up. Theres more than enough nonsense on here already without gratuitously adding to it. Based on what happened in the past, the officials always come forward and tell that banks are safe before problems become visible. Why bother to reassure everyone if there is no problem? Why would you tell there is a problem and make a situation even worse? For banks just a lack of confidence is a deadly danger. Quote Link to comment Share on other sites More sharing options...
Errol Posted July 1, 2016 Share Posted July 1, 2016 (edited) 'The Government and Parliament don't have the power to remove the Governor of the bank of England'? WTF? Who appointed him then? Edited July 1, 2016 by Errol Quote Link to comment Share on other sites More sharing options...
R K Posted July 1, 2016 Share Posted July 1, 2016 Based on what happened in the past, the officials always come forward and tell that banks are safe before problems become visible. Why bother to reassure everyone if there is no problem? Why would you tell there is a problem and make a situation even worse? For banks just a lack of confidence is a deadly danger. Ok, so you have no evidence at all. Quote Link to comment Share on other sites More sharing options...
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