bubbleturbo Posted June 12, 2006 Share Posted June 12, 2006 The sheepie are being prepared. Also, Mervyn King has been talking this evening - probably where this news at ten stuff is coming from. Some of the stuff he said is rather exciting: One risk is that during the fastest three year period of world economic growth for a generation, monetary policy aound the world may simply have been too accommodativeTHAT MONETARY STIMULUS IS NOW BEING WITHDRAWN The realisation such levels of asset prices were likely to be unsustainable, coupled with a tightening of monetary policy in many countries has injected uncertainty into financial markets"... In these circrumstances the Monetary Policy Committee must examine carefully all information, learn, and if necessary, revise it's judgements, and question all recieved wisdom...In other words it must be enlightened. It is clearly no coincidence that Gordonron has been talking in his power suit about "the risks of inflation" Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted June 12, 2006 Share Posted June 12, 2006 Borrowing by the public has been as short-sighted and goofy as the political/monetary policy that has driven it. Quote Link to comment Share on other sites More sharing options...
Guest Charlie The Tramp Posted June 12, 2006 Share Posted June 12, 2006 BBC News Item Quote Link to comment Share on other sites More sharing options...
nimmmm Posted June 12, 2006 Share Posted June 12, 2006 The FT version, without BBC spin: http://news.ft.com/cms/s/76f00cd0-fa4e-11d...00779e2340.html Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted June 12, 2006 Share Posted June 12, 2006 ROFLMFAO!!! 'lower house prices' in nice big letters negative equity, here we come (well, for some anyway) Quote Link to comment Share on other sites More sharing options...
bubbleturbo Posted June 12, 2006 Author Share Posted June 12, 2006 Who saw that then. The BBC saying that we would see "lower house prices" and "higher interest rates". Gordons brother conditioning the crowd perhaps as he is not gonna be in no. 10 before the proverbial starts hitting the fan? Quote Link to comment Share on other sites More sharing options...
Guest Charlie The Tramp Posted June 12, 2006 Share Posted June 12, 2006 Dear old Evan has just given his interpretation of King`s speech. Yes IRs and house prices could be affected by external factors globally and a hint by King that the cheap borrowing may have been overdone. Quote Link to comment Share on other sites More sharing options...
Dr Doom Posted June 12, 2006 Share Posted June 12, 2006 Seemed like a pretty straight shooting piece. Low interest rates = Cheap borrowing = high house prices + high share prices It's like a game of two halves, the 1st half is really good, but the 2nd half is a bit rubbish. In this second half all the above flip around. Higher interest rates = expensive borrowing = lower house prices + lower share prices Quote Link to comment Share on other sites More sharing options...
Fudge Posted June 12, 2006 Share Posted June 12, 2006 Just seen it on the news, blaming the rest of the world for the problems coming, you couldnt make it up! Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted June 12, 2006 Share Posted June 12, 2006 Dear old Evan has just given his interpretation of King`s speech. Yes IRs and house prices could be affected by external factors globally and a hint by King that the cheap borrowing may have been overdone. Which "Crazy" web forum had been saying that for years? I guess this is the BBCs way of trying to get the sheeple to lock in fixed rates quickly. Quote Link to comment Share on other sites More sharing options...
Cornwall Sceptic Posted June 12, 2006 Share Posted June 12, 2006 Just watched what was said..... Surprisingly the BBC concede that it may be a "game of two halves" and the euphoria of the first half may turn to grief Mervyn King and the BBC may be starting to hedge their bets! CS Quote Link to comment Share on other sites More sharing options...
TwentyOneEleven Posted June 12, 2006 Share Posted June 12, 2006 I loved the analogy of the football match .. we've had the good first half, now we're in for the rubbish second half! Language the sheeple might actually understand? Quote Link to comment Share on other sites More sharing options...
DonnieDarker Posted June 12, 2006 Share Posted June 12, 2006 It's a funny old game. Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted June 12, 2006 Share Posted June 12, 2006 Seemed like a pretty straight shooting piece. Low interest rates = Cheap borrowing = high house prices + high share prices It's like a game of two halves, the 1st half is really good, but the 2nd half is a bit rubbish. In this second half all the above flip around. Higher interest rates = expensive borrowing = lower house prices + lower share prices I think he fluffed his lines a bit - didn't he mean the SECOND half would be really good fun to watch? The first half was like a horror story. First half, second half = BOOM and BUST. Now who was it that promised he would get rid of that problem? Quote Link to comment Share on other sites More sharing options...
DonnieDarker Posted June 12, 2006 Share Posted June 12, 2006 I think he was hinting at an analogy based on England Vs Paraguay. Lucky first goal and buoyed confidence before heat exhaustion kicks in and then they hold on for dear-life, hoofing the ball cluelessly and panicking. Quote Link to comment Share on other sites More sharing options...
Annie Posted June 13, 2006 Share Posted June 13, 2006 Makes me wonder how I'd feel if we'd gone ahead and bought the house we really wanted at the end of last year. It would have been worrying to hear this news I'm sure. Quote Link to comment Share on other sites More sharing options...
Justice Posted June 13, 2006 Share Posted June 13, 2006 What a load of bull about inflation going up ! It was going up by a huge amount over the past few years but now people have stopped spending and high street sales are down, we get told that inflation is on the rise. No it’s just the markets catching up to the lies we have been told over the past years so that the bubble could keep going with no warning signals and now all the muppets have been trapped by borrowing to the hilt, the table has been turned to lock them into a life of misery. You know what they say about a fool and his money, well what do they say about a fool and borrowed money Quote Link to comment Share on other sites More sharing options...
El_Pirata Posted June 13, 2006 Share Posted June 13, 2006 What a load of bull about inflation going up ! It was going up by a huge amount over the past few years but now people have stopped spending and high street sales are down, we get told that inflation is on the rise. No it’s just the markets catching up to the lies we have been told over the past years so that the bubble could keep going with no warning signals and now all the muppets have been trapped by borrowing to the hilt, the table has been turned to lock them into a life of misery. You know what they say about a fool and his money, well what do they say about a fool and borrowed money You can't help feeling that the banking system is shaping up to reel those over-indebted suckers in and own them for the rest of their miserable lives Quote Link to comment Share on other sites More sharing options...
marko Posted June 13, 2006 Share Posted June 13, 2006 You can't help feeling that the banking system is shaping up to reel those over-indebted suckers in and own them for the rest of their miserable lives That is EXACTLY what is happening...the whole thing is a monstrous con! What appalls me is that the masses have fallen for it. Serfdom to the financial overlords...I think people imagine that because we are so technologically advanced nowadays with satellites, cancer drugs and the internet, coupled with social progress such as womens rights, end to slavery etc, that we are living in some sort of enlightened modern age. However, our financial system is a medieval throwback - it perpetuates the master-serf relationship just as effectively as any feudal structure or whatnot in the middle ages. In fact it is even better because the fundamental mechanism of exploitation (funny-money and IR rises to periodically milk the real economy) is sufficiently well hidden that the proles don't even realise they are being buggered. Terrible. I foresee black times ahead. Still, good to see this stuff on the mainstream news. Quote Link to comment Share on other sites More sharing options...
starship fighter Posted June 13, 2006 Share Posted June 13, 2006 i was intrigued to see how the metro (a paper it seems which accumulates most of it's advertising revenue from developers...) would report this news. surprise surprise! they didn't actually bother to report it at all, and that's despite the fact that king managed to work in a footballing analogy which could have made for an interesting piece of journalism. there was simply a digest piece about house prices (apparently) rising 5.2%... Quote Link to comment Share on other sites More sharing options...
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