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From The Mouth Of Mark Carney, Today, Treasury Select Committee

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http://www.telegraph.co.uk/business/2016/09/07/pound-steadies-above-134-and-ftse-100-extends-losses-ahead-of-uk/

"UK-focused asset prices are going to be crucially, importantly and we all hope very much positively influenced by the major decisions that parliament are going to take with respect to our relationship first with Europe and then with the rest of the world, and broader productivity and other strategies that are catalysed by this or are associated with this".

...

Prospect of major monetary policy stimulus has had a major impact on UK asset prices, Carney tells the Treasury Select Committee.

He says the Bank of England stimulus "is helping to stabilise residential real estate prices".

He adds: "We are seeing pass-through of our policy action."

----------------

(I don't recall him mentioning stabilising real estate prices on the upside...?)

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What's English for "UK-focused asset prices", I wonder............

Was just about to ask for a translation into English. He takes a set of words and then strings them together in a random order. So, when listening to him, you make your own interpretation. When it is written down, absolute gobbledegook.

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http://www.telegraph.co.uk/business/2016/09/07/pound-steadies-above-134-and-ftse-100-extends-losses-ahead-of-uk/

"UK-focused asset prices are going to be crucially, importantly and we all hope very much positively influenced by the major decisions that parliament are going to take with respect to our relationship first with Europe and then with the rest of the world, and broader productivity and other strategies that are catalysed by this or are associated with this".

...

Prospect of major monetary policy stimulus has had a major impact on UK asset prices, Carney tells the Treasury Select Committee.

He says the Bank of England stimulus "is helping to stabilise residential real estate prices".

He adds: "We are seeing pass-through of our policy action."

----------------

(I don't recall him mentioning stabilising real estate prices on the upside...?)

..what is he doing about money laundering in the London market....did none of the inept ask him the question ....or are they all part of the problem...?..as he is for not acting ....May must get rid... :rolleyes:

Edited by South Lorne

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Asset prices are the real, unspoken mandate of the BoE, inflation targeting is just smoke and mirrors for the plebs.

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Asset prices are the real, unspoken mandate of the BoE, inflation targeting is just smoke and mirrors for the plebs.

Or just build our way to affordable housing innit.

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Asset prices are the real, unspoken mandate of the BoE, inflation targeting is just smoke and mirrors for the plebs.

It's no criticism of your post as such Dorkins, I'm just astonished that Carney etc have been quite clear and open about their HPI love in almost at every turn, yet somehow it is still regarded as covert skullduggery. He is hiding in plain sight, as you say the 'inflation' flannel is just the veneer required to give this baloney some respectability.

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How come the forum has been down for three days, including the front page at this very moment, and you can still post?

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Asset prices are the real, unspoken mandate of the BoE, inflation targeting is just smoke and mirrors for the plebs.

Yep, measuring inflation with the prices of consumable goods is like measuring sea levels with a stick and a rubber duck.

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How come the forum has been down for three days, including the front page at this very moment, and you can still post?

Because my entire being has become subsumed into fubra's servers and I no longer have physical presence in the world of men.

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It's no criticism of your post as such Dorkins, I'm just astonished that Carney etc have been quite clear and open about their HPI love in almost at every turn, yet somehow it is still regarded as covert skullduggery. He is hiding in plain sight, as you say the 'inflation' flannel is just the veneer required to give this baloney some respectability.

This thread is enlightening on the general subject.

http://www.housepricecrash.co.uk/forum/index.php?/topic/226726-if-so-many-mps-own-properties-how-can-we-ever-expect-a-price-crash/page-2#entry1103094763

The railway investment bubble ( with an echo boom much like the current housing echo boom) persisted with corrupt socially and economically damaging policies hidden in plain view, for much the same corrupt reasons.

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I wonder if the motivation is this:

Carney prospers in his job as long as the uk boomers are happy, because that makes the uk government happy. He is cementing his political reputation for a run at senior politics in Canada, MP, finance minister, PM. And that's it.

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I dont think all the BoE policy starts and ends with Carny.

But I think he's a total bellend.

If I was a government bod Id never ever touch an GSer - there's no such thing as an ex-GS.

GS trading is too aggressive and the cokpany is too networked. Its like letting a fox in the hen coop.

I think the the last 6 years in he UK, bar the strengthen of banks capital requirements, have been a total lost.

The UK has sat around, business are usual, as then national debt has doubled and the housing situation of deficits have got worse.

Carney is a tnuc. Gidiot is innumerate.

The UK had bet on the wrong horses- banks, services/retail. Both are being destroyed by software, banks are being destroyed by there stupidity.

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The sad thing is that opinion polling during the EU referendum showed that BoE pronouncements on the economy were still taken seriously by the majority of voters. I guess they have this 'above the fray of politics' respectability like the Queen.

My guess is that the BoE is just another institution that everybody will end up hating during the ongoing loss of faith in the Establishment, it's just the BoE's moment hasn't come yet.

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Since the referendum they'll have lost another chunk of credibility amongst more people. So on average they'll be well into negative territory on credibility.

Edited by billybong

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The sad thing is that opinion polling during the EU referendum showed that BoE pronouncements on the economy were still taken seriously by the majority of voters. I guess they have this 'above the fray of politics' respectability like the Queen.

My guess is that the BoE is just another institution that everybody will end up hating during the ongoing loss of faith in the Establishment, it's just the BoE's moment hasn't come yet.

Gie it a coule of years when the gen pop realise what 5+ years of QE and low IRs has done oto their pension.

Basically, the banks and government have been bailed by making every under 55 work 10 years extra. Those that do work.

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I wonder if the motivation is this:

Carney prospers in his job as long as the uk boomers are happy, because that makes the uk government happy. He is cementing his political reputation for a run at senior politics in Canada, MP, finance minister, PM. And that's it.

My cousin in Toronto thinks that Carney did a wonderful job for Canada and hopes he will do the same for the UK. I was too polite to argue as I only get to see the family about every 20 years but I was gobsmacked.

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He's simply being honest, albeit in complex language so the plebs and MPs don't understand it.

The UK economy absolutely depends on asset values. There is nothing else.

His remit when taking on the job would be to protect asset prices at all costs. This is his number one job, and at that he is doing very well. As well as that, compared to previous governors he is high profile and puts on a fantastic act in front of the cameras.

I am sure he will be amply rewarded, and they will want to keep him on.

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