Casual Observer Posted October 3, 2006 Share Posted October 3, 2006 Now that is a very private conversation which i would not want to put on a very public forum, but i will leave it to your imagination. But it would be far more interesting and pleasing from obviously only my point of view, rather than typing in dialogue about this forum's headline subject? Having come from quite a poor background, and having struggled like most other people when I was in my 20s/early 30's, I find that beyond living comfortably now and not having to worry about bills, money doesn't really mean much. Wnen I didn't have any I dreamt about what it would be like to be wealthy. Now that I have more than I need, I'm no longer interested in it! I often feel I should spend more, but when I do it doesn't make me any happier than I currently am. Quote Link to comment Share on other sites More sharing options...
Gel Posted October 3, 2006 Share Posted October 3, 2006 Having come from quite a poor background, and having struggled like most other people when I was in my 20s/early 30's, I find that beyond living comfortably now and not having to worry about bills, money doesn't really mean much. Wnen I didn't have any I dreamt about what it would be like to be wealthy. Now that I have more than I need, I'm no longer interested in it! I often feel I should spend more, but when I do it doesn't make me any happier than I currently am. I know that feeling.... (Throws another roll of 20's on the fire) Quote Link to comment Share on other sites More sharing options...
Panda Posted October 3, 2006 Share Posted October 3, 2006 Having come from quite a poor background, and having struggled like most other people when I was in my 20s/early 30's, I find that beyond living comfortably now and not having to worry about bills, money doesn't really mean much. Wnen I didn't have any I dreamt about what it would be like to be wealthy. Now that I have more than I need, I'm no longer interested in it! I often feel I should spend more, but when I do it doesn't make me any happier than I currently am. But that is just it, that is why i post on here, not that i want a cheap house, not that i want to be wealthy, not that i want lots of money. The important thing is being able to work for a fair day's pay, but most importantly, being able to fund a normal life style with that fair days pay. By what i mean a normal life style is, to be able to purchase a house to live in, not to rent out, so to raise a family in, not a big house, but a house which is functional and is fit for purpose etc! The disconnection between house price affordability and a fair day's pay is well we all know, and the only way the disconnect will reconnect is for a property crash, and the one thing which will cause this crash is interest rates, while they remain below nominal, i do NOT think they will crash, but i do not know, like i do not know what the base rate will do, up or down who know's not you, not me. So when you make predictions, i can only assume they are based on your personal interests, as if you did know, you would not be on here, you would be busy, very busy i would only guess. When i state a normal life style i am talking about young decent couples who are priced out of the market due to speculators, and very loose lending controls to people who have pushed the property market up so high that it is started to become embarrasing i feel. This site is not about wealth, or buying cheap houses, or making money, it is about the connection between house prices and earnings, and this connection is at breaking point i feel, but what do i know hey????? Quote Link to comment Share on other sites More sharing options...
Guest Charlie The Tramp Posted October 3, 2006 Share Posted October 3, 2006 Having come from quite a poor background, and having struggled like most other people when I was in my 20s/early 30's, I find that beyond living comfortably now and not having to worry about bills, money doesn't really mean much. Same here, myself having come from a very poor background, as a very young lad I would see every day the local bookmaker drive around in his Roller. I vowed one day I would have one myself. Now that is possible I have no interest in buying one. In this credit ridden society we buy on impulse, but if you saved for what you want, you would find when you have the money, you no longer want that item you were saving for. Quote Link to comment Share on other sites More sharing options...
Fancypants Posted October 3, 2006 Share Posted October 3, 2006 Same here, myself having come from a very poor background, as a very young lad I would see every day the local bookmaker drive around in his Roller. I vowed one day I would have one myself. Now that is possible I have no interest in buying one. In this credit ridden society we buy on impulse, but if you saved for what you want, you would find when you have the money, you no longer want that item you were saving for. that is because it is easier to thoughtlessly fritter away money you don't have and haven't earned yet... if you have worked, earnt and saved, one tends to be a bit more careful about how you employ that dosh. This is why savers are currently thought of as less valuable citizen-consumers. Similarly, the cult of youth that we have nowadays, and the obsession with remaining young (along with a commensurate deterioration in the respect shown for the more mature)... the young are more voracious consumers - and, by happy co-incidence, the stuff they buy is the stuff which has been deflating in price Quote Link to comment Share on other sites More sharing options...
simon99 Posted October 3, 2006 Share Posted October 3, 2006 (edited) http://news.yahoo.com/s/afp/20061003/wl_uk...taineconomybank by Roland Jackson 2 hours, 11 minutes ago LONDON (AFP) - Bank of England policymakers are forecast to hold British interest rates at 4.75 percent on Thursday, but all eyes will be on a possible increase in November, according to analysts. All 35 economists quizzed by financial newswire AFX News said they expected the central bank's Monetary Policy Committee (MPC) to freeze rates after the two-day huddle, as they continue their wait-and-see policy on the economy. I think the Muppets might just hike--Merv needs to prove that he is independent of his boss at No. 11. If he doesn't hike all his talk about being "vigilant" is worthless and his credibility on the world scene will diminish. I'd have to agree, the bank have said if people keep spending theyll keep raising rates. Debt zoomed from £1trillion to £1.2trillion in no time at all, mortgage debt is at record levels yet the Bank have raised rates just a pitiful .25%, it appears to be empty threats unless they start backing up their threats with action. Edited October 3, 2006 by simon99 Quote Link to comment Share on other sites More sharing options...
PropertyGuru Posted October 3, 2006 Author Share Posted October 3, 2006 it appears to be empty threats unless they start backing up their threats with action. spineless bunch of lackeys for the fat scot. Quote Link to comment Share on other sites More sharing options...
JustYield Posted October 5, 2006 Share Posted October 5, 2006 Apparently the committee make the decision in advance, and the 'meeting' is only for show. The 'minutes' are pre-prepared over several weeks. Idiot. Quote Link to comment Share on other sites More sharing options...
grey shark Posted October 5, 2006 Share Posted October 5, 2006 Give this whatever credence you like, but a F-O-A-F who works 'in the department' says the interest rate rise is 'certain' for this month. He even explained why:- The know another rise is needed. The latest data proves it. HOWEVER, they can't wait till NEXT month, because it's too close to Xmas. If they don't do it THIS month, they will have to wait till the new year. 5% here we come. PG , you just lost a bit of credibility there sunshine , but nice try though , your gonna have to have a word with your little birdy Quote Link to comment Share on other sites More sharing options...
The time is nigh Posted October 5, 2006 Share Posted October 5, 2006 That is the problem with BBs. When you put you neck on the block and your Friend of a friend lets you down it is you who looks stupid. Quote Link to comment Share on other sites More sharing options...
grey shark Posted October 5, 2006 Share Posted October 5, 2006 That is the problem with BBs. When you put you neck on the block and your Friend of a friend lets you down it is you who looks stupid. I think PG got this little bit of advice from one of 2 birdy's either it was Cuckoo or possibly Marina who PG has a special friendship with . Quote Link to comment Share on other sites More sharing options...
BudoBear Posted October 5, 2006 Share Posted October 5, 2006 I don't trust economists, government officials, EAs, VIs or any of the other muppets out there to feed me info, so why would I listen to a little bird? These pinches of salt are become handfuls! Quote Link to comment Share on other sites More sharing options...
delboypass Posted October 5, 2006 Share Posted October 5, 2006 To be fair - the result could have been close - we will have to wait and see what the votes panned out like Quote Link to comment Share on other sites More sharing options...
grey shark Posted October 5, 2006 Share Posted October 5, 2006 (edited) I don't trust economists, government officials, EAs, VIs or any of the other muppets out there to feed me info, so why would I listen to a little bird? These pinches of salt are become handfuls! Agreed most are full of the brown stuff and put there own interests first , best to do your own research and come to your own conclusions . Propert Guru does talk a lot of sense although usually with a pinch of arrogance , but this time old beef cake got caught out , by of all things a ......................................little birdy ffs Edited October 5, 2006 by grey shark Quote Link to comment Share on other sites More sharing options...
PropertyGuru Posted October 5, 2006 Author Share Posted October 5, 2006 Agreed most are full of the brown stuff and put there own interests first , best to do your own research and come to your own conclusions . Propert Guru does talk a lot of sense although usually with a pinch of arrogance , but this time old beef cake got caught out , by of all things a ......................................little birdy ffs Apologies guys, faulty info. I DID say take it however you like, and admitted yesterday I thought I'd been fed a trout... Perhaps this site is more important than we think when they deliberately try to spread disinformation like this! (<conspiracy hat off>) So I guess that means no more interest rate rises, ever... Quote Link to comment Share on other sites More sharing options...
grey shark Posted October 5, 2006 Share Posted October 5, 2006 Apologies guys, faulty info. So I guess that means no more interest rate rises, ever... Apology accepted , the barrrrstards should of been raising months ago , now we wait till November and hope that in that time they don't find enough pathetic excuses before then to keep them on hold AGAIN . Quote Link to comment Share on other sites More sharing options...
PropertyGuru Posted October 5, 2006 Author Share Posted October 5, 2006 Apology accepted , the barrrrstards should of been raising months ago , now we wait till November and hope that in that time they don't find enough pathetic excuses before then to keep them on hold AGAIN . my concern is that if the 'reason' offered by the 'little birdy' was valid, then there may be no 'opportunity' to raise rates before the new year. Quote Link to comment Share on other sites More sharing options...
Golden Shower Posted October 5, 2006 Share Posted October 5, 2006 Has the little birdy become ill, with bird flu? Quote Link to comment Share on other sites More sharing options...
Cuckoo Posted October 5, 2006 Share Posted October 5, 2006 Give this whatever credence you like, but a F-O-A-F who works 'in the department' says the interest rate rise is 'certain' for this month. He even explained why:- The know another rise is needed. The latest data proves it. HOWEVER, they can't wait till NEXT month, because it's too close to Xmas. If they don't do it THIS month, they will have to wait till the new year. 5% here we come. Quote Link to comment Share on other sites More sharing options...
PropertyGuru Posted October 5, 2006 Author Share Posted October 5, 2006 Has the little birdy become ill, with bird flu? I don't know. Has it? Quote Link to comment Share on other sites More sharing options...
Golden Shower Posted October 5, 2006 Share Posted October 5, 2006 I don't know. Has it? I'm only pulling your leg, fella. I shall await the BoE minutes to see what actually happened and to see if the actually came close to that rate rise. Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted October 5, 2006 Share Posted October 5, 2006 Idiot. Quite. The issue of IRs is debated and VOTED ON at the monthly meeting. How would they pre-determine it? At another meeting? What would be the reason for that? Quote Link to comment Share on other sites More sharing options...
Europa Posted October 5, 2006 Share Posted October 5, 2006 Quite. The issue of IRs is debated and VOTED ON at the monthly meeting. How would they pre-determine it? At another meeting? What would be the reason for that? I have it on good authority that that meeting is fixed as well. The whole thing is stitched up at a pre-pre-meeting. Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted October 5, 2006 Share Posted October 5, 2006 I have it on good authority that that meeting is fixed as well. The whole thing is stitched up at a pre-pre-meeting. Quote Link to comment Share on other sites More sharing options...
laurejon Posted October 5, 2006 Share Posted October 5, 2006 Nuff Said, its a fiddle Each member of the MPC has expertise in the field of economics and monetary policy. Members do not represent individual groups or areas. They are independent. Each member of the Committee has a vote to set interest rates at the level they believe is consistent with meeting the inflation target. The MPC's decision is made on the basis of one-person, one vote. It is not based on a consensus of opinion. It reflects the votes of each individual member of the Committee. A representative from the Treasury also sits with the Committee at its meetings. The Treasury representative can discuss policy issues but is not allowed to vote. The purpose is to ensure that the MPC is fully briefed on fiscal policy developments and other aspects of the Government's economic policies, and that the Chancellor is kept fully informed about monetary policy. Quote Link to comment Share on other sites More sharing options...
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