Money Box Live - Ben Broadbent BoE Deputy Gov

[nome]

Usual BS and obfuscation ....

http://www.bbc.co.uk/programmes/b09kq1cg

Edited January 10, 2018 by nome

[frankvw]

 

Same idiot comes onto LBC every month. He's the radio equivalent of an internet troll. Don't know how he keeps a stright face. Keep it up Ben, there's a storm coming your way

[“Nasty Piece of work”]

Louise Cooper was Rapier like, reminded me of a forensic "One Show" \ "Alan Carr" interview. 

[Doner Kebab]

Just listened to the moron. Utterly refutes that there has been a house price bubble over the last 10 years. It truly is astounding. He must be on crack.

[Errol]

Should have asked whether he owned any gold.

[Wayward]

I would argue that Ben and his cohort can claim the prize for destroying the hopes, dreams and futures of more Britons than anyone since the leaders that took a generation to the trenches.

[Fence]

I can't believe you actually listened to it!

Moth to a flame.

I'm not listening, I'm not listening, I'm not listening,.......

[zugzwang]

So, household debt is 'materially' lower than a decade ago? 150% of disposable income today vs 168% in 2007. 

Fool.

[Noallegiance]

His bentness is indeed broad

[spyguy]

Thing thats fuxed me off the most about BoE and QE.

You had Andy Haldane doing the rounds saying - QE works by lowering risk premium znd creating investment. It doesnt though.

And tge BoE having 98% of its pendion fund in inflation linked gilte.

They should have been forced to eat thtir own dog food - liquidate the boe pension food and invest it in uk equities.

[Parkwell]

I'm not watching that shit. I assume the BOE position is ???

 

[iamnumerate]

Was it just me or did he claim that higher interest rates would make us all so much poorer so houses would become less affordable even if they became cheaper?

Of course some people think that the low interest rates, high taxes and low skilled immigration makes the problem worse.

[Noginthenog]

On 10/01/2018 at 8:06 PM, spyguy said:

Thing thats fuxed me off the most about BoE and QE.

You had Andy Haldane doing the rounds saying - QE works by lowering risk premium znd creating investment. It doesnt though.

And tge BoE having 98% of its pendion fund in inflation linked gilte.

They should have been forced to eat thtir own dog food - liquidate the boe pension food and invest it in uk equities.

I mentioned the Money Box podcast yesterday in another thread;

I have to say, just listening to these bare faced liars, free market economics my ....

[nome]

What gets me is they still refer to 2007 prices as though they're some benchmark of acceptable affordability, even though the prices only reached those levels then due to a decade of irresponsible and fraudulent subprime lending by the banks.

[Fromage Frais]

14 minutes ago, nome said:

What gets me is they still refer to 2007 prices as though they're some benchmark of acceptable affordability, even though the prices only reached those levels then due to a decade of irresponsible and fraudulent subprime lending by the banks.

bingo

As posted before I went to a broker pre 2007 having sold a small house and wanting a mortgage on a circa 250k house.

I was advised to use the deposit and a self cert mortgage with fantasy pay slips to buy a house for 400k-500k as "why not make more money".

Others have posted situations where no deposit at all was provided and a lie sufficed.

he literally confirmed that QE basically creates a false floor where assets are valued at a level they mandate.  

That mandate logically = the bat shit stupid level caused by massive mortgage fraud.

This is the opposite of free market capitalism this is the same as the presidents son buying a hotel  with no customers and the government buying it at market price.  When its a person its third world corruption when its an industry its called a bailout/averting disaster.