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tomandlu

Bank of England Investment Advice

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WTF?

Quote

Q: Andrew Haldane, the Bank of England’s chief economist, recently said it was better to invest in property than in a pension. Do you agree?

Hammond says it is not for him to give investment advice.

Q; But isn’t this a statement of the obvious?

Hammond says the housing market is different in different parts of the country.

Guardian - 4:13pm

Ah - and here's a more detailed account:

https://www.theguardian.com/money/2016/aug/28/property-is-better-bet-than-a-pension-says-bank-of-england-economist

Quote

This is not the first time Haldane has raised eyebrows with his comments on pensions. In a speech in May, he admitted that he was unable to understand pensions because the system was so complicated.
“I consider myself moderately financially literate – yet I confess to not being able to make the remotest sense of pensions,” he said. “Conversations with countless experts and independent financial advisers have confirmed for me only one thing – that they have no clue either.”

So, a little more nuanced in some ways - it's not that property is a good investment; it's that pensions are bloody awful...

Edited by tomandlu

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54 minutes ago, Errol said:

They need to ask him if he owns any gold.

They need to ask him, if he's only moderately financially literate, what the ****** he thinks he's doing working as chief economist at the BoE.

Seriously, what does he think, that sort of talk endears him to the common man? You know, the common man that's spent the past 8 years getting royally butt ******ed by the policies of the organisation that he works for?

****.

Edited by Fully Detached

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Would say that....buying an overpriced asset is putting borrowed or partly borrowed money into the system today, putting money into pension is taking money out of the system for tomorrow.;)

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1 hour ago, Fully Detached said:

They need to ask him, if he's only moderately financially literate, what the ****** he thinks he's doing working as chief economist at the BoE.

Seriously, what does he think, that sort of talk endears him to the common man? You know, the common man that's spent the past 8 years getting royally butt ******ed by the policies of the organisation that he works for?

****.

He's an expert in policy and climbing greasy poles. You have about as much chance of finding erudition in a senior mandarin as you have of finding love in a bordello. By a process of elimination that kind of person simply won't be found there.

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20 minutes ago, Si1 said:

He's an expert in policy and climbing greasy poles. You have about as much chance of finding erudition in a senior mandarin as you have of finding love in a bordello. By a process of elimination that kind of person simply won't be found there.

True, but I'd rather he wasn't rubbing our noses in it.

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1 hour ago, Fully Detached said:

They need to ask him, if he's only moderately financially literate, what the ****** he thinks he's doing working as chief economist at the BoE.

Seriously, what does he think, that sort of talk endears him to the common man? You know, the common man that's spent the past 8 years getting royally butt ******ed by the policies of the organisation that he works for?

****.

The last gasps of a bunch of desperate fools. Together with the clown Hammonds desperate Brexit ramblings.

In 12-24 months the c$$$$ will be all sacked and property will be in freefall.

Bring it on.

 

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2 minutes ago, GreenDevil said:

The last gasps of a bunch of desperate fools. Together with the clown Hammonds desperate Brexit ramblings.

In 12-24 months the c$$$$ will be all sacked and property will be in freefall.

Bring it on.

 

We'll see. I certainly hope so.

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