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Si1

William Hague - Central bankers must unwind the easy money monster they created

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http://www.telegraph.co.uk/news/2017/08/21/central-bankers-must-unwind-easy-money-monster-created/

 

"

Many of them would also say that they are indeed thinking of raising interest rates and unwinding their own inflated balance sheets.

But in that case the message from the rest of us to this distinguished gathering should be: get on with it and show you mean it. Pursue a clear strategy, rather than always finding an excuse for delay.

New bubbles are forming and rate increases, albeit small and gradual, are a necessary way of preventing that from becoming unsustainable. Furthermore, the next world recession will happen when you’re not expecting it and possibly for a reason you’ve never thought of. When it does, you will wish you had given yourselves some leeway.

Finally, to you the central bankers, if it’s not your job to worry about the inequality, poor productivity, inadequate saving and misallocation of capital that results from permanent low interest rates, perhaps it ought to be. The side-effects of the drug of easy money have been borne for nearly a decade. If that happens for another decade, the drug might well become fatal. That would be a good subject for discussion round the table at Jackson Hole."

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Just now, TheCountOfNowhere said:

Is that a new article?  Is so he said the same thing 12 months ago.  I wonder if the ex Tory leader has the ear of the current Tory leader.

He did indeed. And it is new today too.

His final point is warning against systemic meltdown, which is the first time I've seen it in the mainstream.

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11 minutes ago, Si1 said:

He did indeed. And it is new today too.

His final point is warning against systemic meltdown, which is the first time I've seen it in the mainstream.

Warning against them being hung from lamp posts more like. Do the bankers honestly believe the rest of us don't wee their game?

 

Best case... Social untest...worst case...revolution. IMHO

they are taking everything from people, the young, and will not stop until forced to. That has been evident for 5-8 years now.

 

theyre just lying to us all so they can keep milking us.

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42 minutes ago, Lord D'arcy Pew said:

There are too many credit junkies, and now the pushers want to limit supply.

I expect trouble when go cold turkey.

What response would a UK junkie get if they turned up at Pablo Escabar's ranch to complain about the lack of gear they can get hold of ?

 

Same Same.

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3 hours ago, Si1 said:

http://www.telegraph.co.uk/news/2017/08/21/central-bankers-must-unwind-easy-money-monster-created/

 

"

Many of them would also say that they are indeed thinking of raising interest rates and unwinding their own inflated balance sheets.

But in that case the message from the rest of us to this distinguished gathering should be: get on with it and show you mean it. Pursue a clear strategy, rather than always finding an excuse for delay.

New bubbles are forming and rate increases, albeit small and gradual, are a necessary way of preventing that from becoming unsustainable. Furthermore, the next world recession will happen when you’re not expecting it and possibly for a reason you’ve never thought of. When it does, you will wish you had given yourselves some leeway.

Finally, to you the central bankers, if it’s not your job to worry about the inequality, poor productivity, inadequate saving and misallocation of capital that results from permanent low interest rates, perhaps it ought to be. The side-effects of the drug of easy money have been borne for nearly a decade. If that happens for another decade, the drug might well become fatal. That would be a good subject for discussion round the table at Jackson Hole."

Where has he been for the last ten years? Why now? I realise he said something similar last year,but this has been destroying people's lives for ten years.

Thanks but no thanks.

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1 minute ago, Sancho Panza said:

Where has he been for the last ten years? Why now? I realise he said something similar last year,but this has been destroying people's lives for ten years.

Thanks but no thanks.

To be fair, he said the same last year.

The pretence that TPTB dont know what the real problem is is long gone.

Arrest the ****s and hang them would be my preferred solution to the problems we face.  

I doubt they will do that, but a sacking should be done now.

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1 hour ago, TheCountOfNowhere said:

To be fair, he said the same last year.

The pretence that TPTB dont know what the real problem is is long gone.

Arrest the ****s and hang them would be my preferred solution to the problems we face.  

I doubt they will do that, but a sacking should be done now.

Good grief

you DOUBT the tptb will arrest and hang tptb. 

?

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Na, he's living in the past and just doesn't get it, it's different this time ;).

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  • 292 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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