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interestrateripoff

George Osborne says the Bank of England's QE makes the rich richer

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4 minutes ago, interestrateripoff said:
 

George Osborne says the Bank of England's QE makes the rich richer

As chancellor Mr Osborne never commented on the distributional consequences of the Bank of England’s monetary stimulus measures

FFS, why is it every time someone quits a post they admit they deliberately did feck all?

Well, no sh!t Sherlock. Funny how he has just noticed, now that he is no longer chancellor. Funny that

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Speaking from Washington in an interview with Bloomberg TV, Mr Osborne said: “We need to offset the very necessary loose monetary policy and the distributional consequences that it is having. Essentially it makes the rich richer and makes life difficult for ordinary savers.”

Well they offset QE with FFL and FFL2 which made life even more difficult for ordinary workers, home buyers and savers.

“There’s a role for government policy not in stopping that monetary policy which keeps the economy strong but in mitigating its impact. I think all of us who believe in rigged free markets need to work harder to find an answer to the anger that people clearly feel out there.”

Corrected, the neoliberals despise free markets, we've not had anything resembling a free market for 9 years,

Edited by Crumbless

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4 minutes ago, Fairyland said:

Thats rich coming from him? What about HTB1,2 ..... And all other HPI props. Did they make the poor rich?

+10 million

 

Htb etc magnified it.

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8 minutes ago, John The Pessimist said:

It's almost as if the paid for speech writer has been removed.....

Let's not forget his Brexit speech that have not come true.  Pinch of salt with silver spoon

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15 minutes ago, hotairmail said:

Basically he's admitting he knew all along the distributional effects of his policies.

Sickening that he spent 6 years in office knowing he was taking money off working folk to give to asset holders, and pricing out a generation.

But tomorrows MSM are going to be highlighting a football manager scamming £400K for himself, when Gidiots admission should be top story in every news outlet.

Edited by Crumbless

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Osborne was lucky to be sacked before his "nice little housing boom" turned to bust.

Did Cameron's legacy even last a week after he was booted out?

6 years of government peed up the wall.

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5 hours ago, Dorkins said:

Osborne was lucky to be sacked before his "nice little housing boom" turned to bust.

Did Cameron's legacy even last a week after he was booted out?

6 years of government peed up the wall.

That really is it.

 

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Quick scan through the online newspapers... can't find a single mention of this even in the finance sections, also no mention on state television so far this morning.

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2 hours ago, nome said:

Quick scan through the online newspapers... can't find a single mention of this even in the finance sections, also no mention on state television so far this morning.

Amazing isn't it?

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14 hours ago, Crumbless said:

Corrected, the neoliberals despise free markets, we've not had anything resembling a free market for 9 years,

More like 40-50 years.

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Typical of the Con wing of the LibLabCon.  Next he'll be expecting people to vote for them at the next elections.

Notice he only admits that the policies have helped himself and his cronies to line their own pockets.  So blatantly bragging about it and in a not so roundabout way demanding a cushy job in return.  

He doesn't admit that the policies have failed and don't work to help the economy recover - something that even the central bank's BIS has admitted.

To be absolutely fair his statements are totally self serving and utterly worthless in terms of contributing to Britain's recovery.

 

 

Edited by billybong

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" QE is here forever, says Bank of England deputy governor " - never thought I'd despise anybody more than Krusty & Co but I've got a whole list of them now.

Need to borrow a muck spreader and visit the Bank of England.

 

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11 hours ago, Dorkins said:

Osborne was lucky to be sacked before his "nice little housing boom" turned to bust.

Did Cameron's legacy even last a week after he was booted out?

6 years of government peed up the wall.

Indeed - that's another 6 years.

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9 minutes ago, RIP said:

" QE is here forever, says Bank of England deputy governor " - never thought I'd despise anybody more than Krusty & Co but I've got a whole list of them now.

Need to borrow a muck spreader and visit the Bank of England.

 

They really don't like the leave the eu vote :lol:

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1 hour ago, RIP said:

" QE is here forever, says Bank of England deputy governor " - never thought I'd despise anybody more than Krusty & Co but I've got a whole list of them now.

Need to borrow a muck spreader and visit the Bank of England.

 

Until it isn't, that is.

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7 hours ago, nome said:

Quick scan through the online newspapers... can't find a single mention of this even in the finance sections, also no mention on state television so far this morning.

Journalists are too busy entrapping football managers to investigate trifling matters such as the corruption of our countries finances.

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