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TheCountOfNowhere

Criminal (IMHO) who lowered rates to 0.5% welcones poor people facing starvation.

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http://news.sky.com/story/lower-pound-a-welcome-change-says-former-bank-chief-lord-king-10612690

 

Lower pound a 'welcome change', says former bank chief Lord King

 

Paraphrasing a bit but u get the  idea.

 

Man with index linked pension gives not a toss for people on the breadline facing higher food and fuel costs

Edited by TheCountOfNowhere

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One thing that would make the UK a better place would be the removal of a index linked state pension from all members of he civil service and the BoE.

Let them eat their own dogfood (dogsh1t?).

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It's not the currency's fault that UK land is far too expensive for the current level of productivity.

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There was the normal 'pound in your pocket' stuff on the radio this morning - its easier to adjust the currency than the housing market, apparently.

Sadly, UKGOV wil find the world has changed a lot since 1967 - the level of interconnect, all priced in dollars is *huge* now.

Id hazard a guess that its not a case of currency v. housing market/wages - its both. Pund will fall, then housing and wages will.

spys rule #1 - macro economics is junk; BoE + treasury are as dumb as fck.

 

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2 hours ago, Automotive Engineer said:

the idea is, lower pound  = higher exports = more jobs

I believe the idea is...lower pounds = more foreigners buying British assets = The 1%ers get richer.

The BoE lowered IRs and forced mortgage/saving rates lower a few weeks after BrExit vote based on no facts whatsoever.

They really only know 1 things....HIGHER HOUSE PRICES

 

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The rich/elite/people with big pensions etc will hold a lot of $ assets.They will of been protected from the fall in the £.Ordinary workers etc have just had a 15%+ Pay cut.

We lost most of northern Industry because the £ was far too high during the 80s,90s because interest rates were too high because of southern house prices.Now when we have no industry left,it seems people working on NMW in the warehouses that replaced the factories must suffer massive cuts again due to southern house prices.

The ironic thing is they will blame Brexit.Destroying the £ would usually see governments fall,it shows how thick the UK population is now that there is silence.Lets see when inflation shoots up if interest rates follow.

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