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Realistbear

Stevie Nickell Leaving B O E

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http://investing.reuters.co.uk/investing/f...IMES-FEB-25.XML

TREASURY PLEDGE ON MPC NEWCOMER

The Treasury has promised to hire a "first class economist" to take the place of Professor Stephen Nickell upon his May retirement from the Bank of England's monetary policy, after four former MPC members wrote to the Financial Times expressing concern that a non-economist might be considered for the role. The Treasury said in a statement that it "is looking at a long list of world class economists drawn from a number of countries, ensuring that it retains world class economics expertise".

Strange coincidence that the lone Dove on the MPC is "retiring" soon. The world is raising the rates and the UK cannot move in the opposite direction whether it likes it or not.

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The Treasury has promised to hire a "first class economist" to take the place of Professor Stephen Nickell

LOL. I like the way they phrased that :).

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The Treasury has promised to hire a "first class economist" to take the place of Professor Stephen Nickell

It would make a change, I will believe it when I see it though.

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f-off steve

and don't come back :angry:

why not give the job to wynne godley - for a dismal scientist he seems to tell it like it is much of the time...

http://www.cerf.cam.ac.uk/publications/index.php?current=6

i think i'm right in saying that in the late '70 he forecast the huge unemployment of the early '80's - everyone else laughed at the time... :(

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First bit of good news I've heard all week. Three cheers for his retirement.

I'll save the jubilation though until we find out who is the replacement!

I'd like to nominate Charlie the tramp.

Edited by Flick

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Was there ever a time in modern history where for a cast number of people employment has been potentially more unsecure, pays less in benefits (trashed pensions, thanks again to low rates which are now destroying pensions and company balance sheets) and revolve around comepting with employees and companies all around the world who need a fraction of a UK salary to merely exist?

http://calculatedrisk.blogspot.com/2005/09...ubble-talk.html

The housing market, which rose 123 percent between early 1999 and the middle of last year, may well not have been in a bubble, Bank of England policymaker Stephen Nickell said on Tuesday.

Nickell said a fall in long-term real interest rates from about 4 percent in the mid-1990s to around 2 percent by 2000 was one factor that has likely driven a substantial rise in the equilibrium house price to earnings ratio since the mid-1990s.

"Of course, there is a good deal of uncertainty here, but it is clear that it may be legitimately argued that there has been no housing bubble whatever," Nickell told an academic audience.

Nickell also said that low inflation, the rise in two-salary households and increased levels of job security and rapid prospective earnings growth may also make it more sensible for households to borrow more now than they have in the past.

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Was there ever a time in modern history where for a cast number of people employment has been potentially more unsecure, pays less in benefits (trashed pensions, thanks again to low rates which are now destroying pensions and company balance sheets) and revolve around comepting with employees and companies all around the world who need a fraction of a UK salary to merely exist?

http://calculatedrisk.blogspot.com/2005/09...ubble-talk.html

The housing market, which rose 123 percent between early 1999 and the middle of last year, may well not have been in a bubble, Bank of England policymaker Stephen Nickell said on Tuesday.

Nickell said a fall in long-term real interest rates from about 4 percent in the mid-1990s to around 2 percent by 2000 was one factor that has likely driven a substantial rise in the equilibrium house price to earnings ratio since the mid-1990s.

"Of course, there is a good deal of uncertainty here, but it is clear that it may be legitimately argued that there has been no housing bubble whatever," Nickell told an academic audience.

Nickell also said that low inflation, the rise in two-salary households and increased levels of job security and rapid prospective earnings growth may also make it more sensible for households to borrow more now than they have in the past.

I see now why he was fired, er, decided to retire and spend more time with his family.

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Job Done, now Nickell can piss off into academia and suck from that teat.

http://www.centralbanking.co.uk/newsmakers.../2003/mar10.htm

Is the Treasury ganging up on hawkish eurosceptic Mervyn King, ensuring that he is outnumbered on the MPC? Is Labour packing the MPC with doves who will drive rates down to the floor to boost the economy before the election due no later than 2006? Perish the thought.

Edited by OnlyMe

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Guest Charlie The Tramp
QUOTE(Flick @ Feb 25 2006, 06:32 PM)

I'd like to nominate Charlie the tramp.

I say give Mervyn two votes ! :D:D

Yes that would be a better idea as my aim would be to get rates back to their historical average of 8.5%. ;)

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http://investing.reuters.co.uk/investing/f...IMES-FEB-25.XML

TREASURY PLEDGE ON MPC NEWCOMER

The Treasury has promised to hire a "first class economist" to take the place of Professor Stephen Nickell upon his May retirement from the Bank of England's monetary policy, after four former MPC members wrote to the Financial Times expressing concern that a non-economist might be considered for the role. The Treasury said in a statement that it "is looking at a long list of world class economists drawn from a number of countries, ensuring that it retains world class economics expertise".

Strange coincidence that the lone Dove on the MPC is "retiring" soon. The world is raising the rates and the UK cannot move in the opposite direction whether it likes it or not.

would those four former mpc members be gordon's wee clan by any chance??

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You know something is a foot when Sir Andrew Large left early to be replaced by Sir John Gieve, the self confessed non-economist crony that is now Deputy Governor (Financial Stability), the latter seems to involve allowing £10m BTL portfolios to anyone with a pulse, at the top of the market.

The regional Fed boards in the US also have vacancies that no honest academic will fill, they've sat empty for months now, actions speak louder than words, what does that say about the standard of people taking up these positions? They're either hopelessly naive or simply cronies and placemen.

Any bets on Merv leaving before 2008?

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Wow, this should be a sticky. Steven Nickell, Order of the Brown Nose, Patsy of the CBI to leave the MPC!!?

As good as an interest rate rise IMO!! Praise be :):):)

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I read in Sunday papers they are looking to approach the Harvard professor who taught Ed Balls all he knows !!!! :o:o

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I read in Sunday papers they are looking to approach the Harvard professor who taught Ed Balls all he knows !!!! :o:o

i think ed balls learnt his craft from homer simpson

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Guest The_Oldie

Wow, this should be a sticky. Steven Nickell, Order of the Brown Nose, Patsy of the CBI to leave the MPC!!?

As good as an interest rate rise IMO!! Praise be :):):)

Don't get too excited, we don't know who's going to replace him yet :unsure:.

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I read in Sunday papers they are looking to approach the Harvard professor who taught Ed Balls all he knows !!!! :o:o

Ed Balls genuinely frightens me, he cannot answer any question directly and seems to think the entire electorate is thick as two planks. I think he's actually just some sentient robot that has been pre-programmed with the latest Labour cliches and excuses. Very odd character, he really belongs in the Lib Dems.

edballsmcphee372.jpg

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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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