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Its That Time Of The Month Again...

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Retailers today call on the Bank of England to cut interest rates this week after the latest snapshot of consumer activity showed the burst of spending in the new year sales petered out by the end of January. With the Bank's nine-strong monetary policy committee due to begin a two-day meeting tomorrow, the British Retail Consortium said the underlying trend in sales was flat and the business climate challenging.

This morning's BRC report follows news from the Society of Motor Manufacturers and Traders yesterday that new car sales were more than 13% lower last month than in January last year. Kevin Hawkins, director-general of the BRC, said: "After the pre-Christmas upturn, we are now back to the reality of a tough, discount-driven retail market. The message from every sector of our industry is the same. The squeeze on consumer spending continues unabated. The economy badly needs a cut in interest rates."

:rolleyes:

http://business.guardian.co.uk/story/0,,1703731,00.html

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Maybe we should all email the BoE asking them to raise rates, due to the poverty we are all facing in retirement!

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There seems to be an article in the Guardian every two or so days openly stating that expectations are of a cut. I guess it's an easy position to take, and can be backed away from with a simple "Suprise Rise in Inflation" headline.

T&T

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There seems to be an article in the Guardian every two or so days openly stating that expectations are of a cut. I guess it's an easy position to take, and can be backed away from with a simple "Suprise Rise in Inflation" headline.

T&T

I just put this down to the Grauniad being in on the NuLab conspiracy to turn us all into debt-slaves.

Either that or they are, like many liberal-leaning persons, financial illiterates.

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There seems to be an article in the Guardian every two or so days openly stating that expectations are of a cut. I guess it's an easy position to take, and can be backed away from with a simple "Suprise Rise in Inflation" headline.

T&T

For every one article saying they expect rates to go down, there are 10 saying they expect them to go up.

This is BS.

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The BRC are a joke.

I rang them a few months back to ask how/if they included online sales in their figures. The answer was "if a high street ret'ailer has an online arm they are included" me "what if its a pureplay online retailer like Amazon?" them "oh theyre not included".

As online retail was nearly £20Bn in 2005 representing 9% of the market, I rest my case they are a joke.

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The BRC are a joke.

I rang them a few months back to ask how/if they included online sales in their figures. The answer was "if a high street ret'ailer has an online arm they are included" me "what if its a pureplay online retailer like Amazon?" them "oh theyre not included".

As online retail was nearly £20Bn in 2005 representing 9% of the market, I rest my case they are a joke.

Yup.

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For every one article saying they expect rates to go down, there are 10 saying they expect them to go up.

This is BS.

Can you provide links to these 10 articles? I'd love to see them.

Whats BS?

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Oh for a voice of reason - Maggie Thatcher where are you? Ramsay MacDonald where are you? Michael Foot where are you? Tony Benn - where are you?

Shopkeepers are suffering - after the biggest debt-fuelled consumer binge in history - so what's the solution? Lower interest rates so people can borrow more money to keep spending.

The Labour party grew to try to redress the situation where an exploited working class were kept as slaves to debt all their lives. As such they endorsed old fashioned virtues like 'never a lender or a borrower be' etc.

If my Mum and Dad had to get Hire Purchase when I was a kid - they were ashamed - and paid it off as quickly as possible. Thrift and being self-reliant were the order of the day.

The present leaders of the Labour Party make me want to vomit. Where is the voice that says 'No, we don't want people going further and futher into debt just to keep the economy afloat - we don't want an army of middle-class tossers buying up all the property in the country to replace the aristocracy as the landlords to the working class.

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Shopkeepers are suffering - after the biggest debt-fuelled consumer binge in history - so what's the solution? Lower interest rates so people can borrow more money to keep spending.

My favourite analogy is to consider yourself stuck in a cottage on a bitter winter's night with only a log fire for warmth.

To begin with the fire burned bright and fierce and you were kept lovely and warm. But now it has started to die down because the fuel has all been used. You are now starting to get really cold again.

You could take the time to pop out to the woodshed and get some more logs to rebuild the fire, making use of the logs you carefully cut and stacked in the dry at the end of the summer. But suddenly you realise - you never got around to chopping the wood did you? The big chunks you meant to cut down are all sat outside in the yard in the snow - they will never burn now.

Still you need to be warm, so there is always the petrol can in the garage...

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  • 301 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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