Si1 Posted September 7, 2016 Share Posted September 7, 2016 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...?) Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted September 7, 2016 Share Posted September 7, 2016 Yup, that caught my eye too. Pretty much what he was employed to do. Scandalous I I. Quote Link to comment Share on other sites More sharing options...
Noallegiance Posted September 7, 2016 Share Posted September 7, 2016 What's English for "UK-focused asset prices", I wonder............ Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted September 7, 2016 Share Posted September 7, 2016 Has he confirmed a second term? Quote Link to comment Share on other sites More sharing options...
One-percent Posted September 7, 2016 Share Posted September 7, 2016 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. Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 7, 2016 Author Share Posted September 7, 2016 Has he confirmed a second term? When is his current term up? Quote Link to comment Share on other sites More sharing options...
South Lorne Posted September 7, 2016 Share Posted September 7, 2016 (edited) 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... Edited September 7, 2016 by South Lorne Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted September 7, 2016 Share Posted September 7, 2016 (edited) When is his current term up? Looks to be to 30 June 2018 so I guess not the full term http://www.bankofengland.co.uk/about/Pages/people/mpc.aspx Edited September 7, 2016 by Ash4781 Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted September 7, 2016 Share Posted September 7, 2016 We are so blessed to have the best banker in the world.... Or should that have started with a w? Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 7, 2016 Author Share Posted September 7, 2016 Looks to be to 30 June 2018 so I guess not the full term http://www.bankofengland.co.uk/about/Pages/people/mpc.aspx It may be easier for Theresa May to simply wait until this date and preplan a more sensible replacement in advance. Quote Link to comment Share on other sites More sharing options...
Dorkins Posted September 7, 2016 Share Posted September 7, 2016 Asset prices are the real, unspoken mandate of the BoE, inflation targeting is just smoke and mirrors for the plebs. Quote Link to comment Share on other sites More sharing options...
Blod Posted September 7, 2016 Share Posted September 7, 2016 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. Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted September 7, 2016 Share Posted September 7, 2016 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. Quote Link to comment Share on other sites More sharing options...
hp72 Posted September 7, 2016 Share Posted September 7, 2016 How come the forum has been down for three days, including the front page at this very moment, and you can still post? Quote Link to comment Share on other sites More sharing options...
zugzwang Posted September 7, 2016 Share Posted September 7, 2016 Yeah, inflation! Please can we have some more, that's what everybody I know is saying... Quote Link to comment Share on other sites More sharing options...
renting til I die Posted September 8, 2016 Share Posted September 8, 2016 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. Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 8, 2016 Author Share Posted September 8, 2016 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. Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 8, 2016 Author Share Posted September 8, 2016 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. Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 8, 2016 Author Share Posted September 8, 2016 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. Quote Link to comment Share on other sites More sharing options...
spyguy Posted September 8, 2016 Share Posted September 8, 2016 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. Quote Link to comment Share on other sites More sharing options...
Dorkins Posted September 8, 2016 Share Posted September 8, 2016 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. Quote Link to comment Share on other sites More sharing options...
billybong Posted September 8, 2016 Share Posted September 8, 2016 (edited) 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 September 8, 2016 by billybong Quote Link to comment Share on other sites More sharing options...
spyguy Posted September 8, 2016 Share Posted September 8, 2016 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. Quote Link to comment Share on other sites More sharing options...
Travisher Posted September 8, 2016 Share Posted September 8, 2016 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. Quote Link to comment Share on other sites More sharing options...
kzb Posted September 8, 2016 Share Posted September 8, 2016 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. Quote Link to comment Share on other sites More sharing options...
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