darkmarket Posted August 9, 2018 Share Posted August 9, 2018 16 minutes ago, zugzwang said: I think so too, and not just in the UK. The world needs a new reserve currency to replace the USD. The IMF's SDR basket is probably the only thing that would a) work b) be politically acceptable. When it's clear enough the SDR basket is full of impossible promises, bitcoin will still be bitcoin. Quote Link to comment Share on other sites More sharing options...
chronyx Posted August 9, 2018 Share Posted August 9, 2018 37 minutes ago, darkmarket said: impossible promises bitcoin. Well, yeah. Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted August 9, 2018 Share Posted August 9, 2018 1 hour ago, zugzwang said: The world needs a new reserve currency to replace the USD. Good luck with that. Quote Link to comment Share on other sites More sharing options...
Captain Kirk Posted August 9, 2018 Share Posted August 9, 2018 1 hour ago, zugzwang said: Not sure the UK economy is robust enough to withstand any more rate hikes. The onslaught against sterling suggests that Mr Market is getting a whiff of that scepticism too. Reminds me a little of Soros and the ERM. Although Carney did say if we had a hard brexit interest rates would be 4% and property down 30% - which sounds ideal to me. Would we need an IMF loan given we can just print money with ease? Quote Link to comment Share on other sites More sharing options...
zugzwang Posted August 9, 2018 Share Posted August 9, 2018 2 hours ago, Captain Kirk said: Although Carney did say if we had a hard brexit interest rates would be 4% and property down 30% - which sounds ideal to me. Would we need an IMF loan given we can just print money with ease? An IMF loan really means the IMF taking charge of govt spending. Yeah, it could happen; and a lot sooner than anyone imagines. Another bad winter this year and we could see a full-on sterling crisis with the lights out nationwide and people queueing for bread. Better believe it! Quote Link to comment Share on other sites More sharing options...
maverick73 Posted August 9, 2018 Share Posted August 9, 2018 The pound is loosing credibility on a global stage.... looking forward to a run on the pound Quote Link to comment Share on other sites More sharing options...
rantnrave Posted August 10, 2018 Author Share Posted August 10, 2018 Now sub $1.28 Quote Link to comment Share on other sites More sharing options...
spyguy Posted August 10, 2018 Share Posted August 10, 2018 Torn between this thread and the BoE are clueless. UK growth 'accelerates to 0.4 in last quarter' BoE are waaaay behind the curve. Despite almost sinking he UK with their bank regulation 2002-2008. Quote Link to comment Share on other sites More sharing options...
chronyx Posted August 10, 2018 Share Posted August 10, 2018 Pound getting battered today. Dark Friday? Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted August 10, 2018 Share Posted August 10, 2018 15 hours ago, Captain Kirk said: .. hard brexit interest rates would be 4% and property down 30% - which sounds ideal to me. if there are temporary blips the monied classes will be buying up much more property Quote Link to comment Share on other sites More sharing options...
Captain Kirk Posted August 10, 2018 Share Posted August 10, 2018 1 minute ago, cashinmattress said: if there are temporary blips the monied classes will be buying up much more property I don't believe that. Investors run a mile when markets crash. Quote Link to comment Share on other sites More sharing options...
Captain Kirk Posted August 10, 2018 Share Posted August 10, 2018 12 hours ago, zugzwang said: An IMF loan really means the IMF taking charge of govt spending. Yeah, it could happen; and a lot sooner than anyone imagines. Another bad winter this year and we could see a full-on sterling crisis with the lights out nationwide and people queueing for bread. Better believe it! Fine with me. We would be in a recession or depression and house prices would sink. No one would touch property with a barge pole. I don't care how the bubble ends, I just want it to end. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted August 10, 2018 Share Posted August 10, 2018 1.2750. Look out below. Quote Link to comment Share on other sites More sharing options...
chronyx Posted August 10, 2018 Share Posted August 10, 2018 1 minute ago, zugzwang said: 1.2750. Look out below. Better get some fuel for the genny.... Quote Link to comment Share on other sites More sharing options...
Captain Kirk Posted August 10, 2018 Share Posted August 10, 2018 14 minutes ago, zugzwang said: 1.2750. Look out below. It really is criminal that the BoE allows inflation to rise over 2% and allows sterling to drop whilst rates are 0.75%. Savers are hemorrhaging purchasing power whist mortgage borrowers are practically being paid to borrow. And we have a friggin housing bubble that's priced out a whole generation. It's so wrong. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted August 10, 2018 Share Posted August 10, 2018 2 hours ago, Captain Kirk said: It really is criminal that the BoE allows inflation to rise over 2% and allows sterling to drop whilst rates are 0.75%. Savers are hemorrhaging purchasing power whist mortgage borrowers are practically being paid to borrow. And we have a friggin housing bubble that's priced out a whole generation. It's so wrong. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted August 10, 2018 Share Posted August 10, 2018 3 hours ago, cashinmattress said: if there are temporary blips the monied classes will be buying up much more property And getting taxed to bits for the privilege, the sheeple are not going to take high property prices and land/house hoarding much longer IMO. The Brexit vote was the wake up bell. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted August 10, 2018 Share Posted August 10, 2018 3 hours ago, Captain Kirk said: Fine with me. We would be in a recession or depression and house prices would sink. No one would touch property with a barge pole. I don't care how the bubble ends, I just want it to end. Same here. We are way past the stage where this can end in a managed way though IMO. Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted August 10, 2018 Share Posted August 10, 2018 Pound looks like it's falling down a large hole now. I agree with some of the previous comments, if we see a depression in the UK that sends the property market straight to hell, then so be it. Quote Link to comment Share on other sites More sharing options...
Captain Kirk Posted August 10, 2018 Share Posted August 10, 2018 23 minutes ago, zugzwang said: Just shows the BoE are wrong. QE and low rates have not resulted in any growth, just a housing bubble. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted August 10, 2018 Author Share Posted August 10, 2018 12 minutes ago, Captain Kirk said: Just shows the BoE are wrong. QE and low rates have not resulted in any growth, just another housing bubble. Tweaked for accuracy. Quote Link to comment Share on other sites More sharing options...
hurlerontheditch Posted August 10, 2018 Share Posted August 10, 2018 20 minutes ago, Captain Kirk said: Just shows the BoE are wrong. QE and low rates have not resulted in any growth, just a housing bubble. 50 minutes ago, zugzwang said: that is a shocking graph. Quote Link to comment Share on other sites More sharing options...
Gigantic Purple Slug Posted August 10, 2018 Share Posted August 10, 2018 1 hour ago, Captain Kirk said: Just shows the BoE are wrong. QE and low rates have not resulted in any growth, just a housing bubble. Doesn't really show anything about QE. 1998-2008 growth was higher than it should be because it was pumped up by excessive lending. And unless you know what would have happened to growth without QE then it's hard to say what effect it would have had. Maybe 2008-2018 would have been negative who knows. What QE did was swap short term volatility for long term stagnation. Hard to say whether the net effect now is better or worse, certainly not from that graph. Quote Link to comment Share on other sites More sharing options...
mathschoc Posted August 10, 2018 Share Posted August 10, 2018 1 hour ago, hurlerontheditch said: that is a shocking graph. But we still have growth, that’s a boom woohoo let’s borrow like mad. 0.01 growth is still growth yay!! The govt are quite happy with it. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted August 10, 2018 Share Posted August 10, 2018 2 hours ago, Captain Kirk said: Just shows the BoE are wrong. QE and low rates have not resulted in any growth, just a housing bubble. Interest rates will stay low for another twenty years, says outgoing MPC member Ian McCafferty. https://www.theguardian.com/business/2018/aug/09/interest-rates-will-stay-low-for-20-years-bank-of-england-expert Plan A not working? Stick with it for another generation. Quote Link to comment Share on other sites More sharing options...
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