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Marcos Scriven

Mpc Emergency Cut?

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http://business.timesonline.co.uk/tol/busi...icle3566164.ece

"An equally popular trade was the wholesale selling of sterling in a bet that the UK monetary authorities may be about to follow the Fed with another emergency interest rate cut."

Do you think that's actually likely? What difference is it going to make? None!

Why, our leaders said only last week we had a Strong, Resilient economy, well placed to ride out the Global Storm, low interest rates and High Employment.

Or was he misleading the nation?

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http://business.timesonline.co.uk/tol/busi...icle3566164.ece

"An equally popular trade was the wholesale selling of sterling in a bet that the UK monetary authorities may be about to follow the Fed with another emergency interest rate cut."

Do you think that's actually likely? What difference is it going to make? None!

Can't see it myself. Porko Declan was on the box this morning with DVD players and a shopping basket pointing out to the nation that actually inflation is much higher than the bullsh!t 2% the government is trying to brainwash us to believe.

If they start dropping rates against a backdrop of rising inflation their (this government's) last vestiges of economic credibility will be torn to shreds.

They, and we, are fully shafted. I just wish they'd put their hands up and say 'We're not up to this, all we know how to do is tax and spend and, as always, the money has run out and we're massively in debt.'

For those of you too young to know and too stupid to look at what has happened in this country since the war, this is how Labour governments always end. With the country in debt and tax at an all time high.

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Why, our leaders said only last week we had a Strong, Resilient economy, well placed to ride out the Global Storm, low interest rates and High Employment.

Or was he misleading the nation?

They probably took communications lessons at Bear Sterns!

As an aside, FT Alphaville mentions new potential downside for banks with a special focus on 'goodwill' on their balance sheets. I had no idea the banks had such 'goodwill' assets on the BS; I wonder how much they are worth :lol:

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Ler's hope MPC'd rather save (if not boost their reputation) than wipe someone's a55 :unsure: ... Cutting the rate will do close to nothing. Providing liquidity to troubled financial institutions is altogether a different proposition and not much related to cutting the base rate these days.

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Why, our leaders said only last week we had a Strong, Resilient economy, well placed to ride out the Global Storm, low interest rates and High Employment.

Nah Ali was just lying , a rate cut will do nothing except cause panic , they can see it didn't work in the states so it ain't going to work here ..............IT'S OVER

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For those of you too young to know and too stupid to look at what has happened in this country since the war, this is how Labour governments always end. With the country in debt and tax at an all time high.

And it's given David Cameron leeway to come out and say "no tax cuts for 4 years" - which for the Conservatives is a bit of a milestone.

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R4 this morning some American banker basically said rate cuts make no difference anymore - the only reason for a Fed cut of 1% tomorrow is because the markets have already priced it in.

Brutally truthful really. So what would the point be for the MPC to cut?

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R4 this morning some American banker basically said rate cuts make no difference anymore - the only reason for a Fed cut of 1% tomorrow is because the markets have already priced it in.

Brutally truthful really. So what would the point be for the MPC to cut?

They need to rob the cash savers of their purchasing power. Someone's got to pay.

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The Bank of England has a mandate to control Inflation, not to pander to greedy corrupt bankers whenever they get into a bit of bother.

The Bankrupt of England has pissed on its mandate and used monetary policy to prop up a disgraceful, wasteful government and create a bubble-driven, debt-producing economy and is using rates now to get the desperate, greedy bankers out of a hole of their own making.

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Guest grumpy-old-man

a lot of it stems from this 'we can't have failure' type business model.

Your not allowed to say 'problems' instead you have to use the word 'challenges'......

If your not allowed to fail at work, then this is just magnified right to the top (well it's actually top down really, but you get the gist), no-one wants to be the first to say 'we have failed'

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If your not allowed to fail at work, then this is just magnified right to the top (well it's actually top down really, but you get the gist), no-one wants to be the first to say 'we have failed'

Well, I'll say it for them then: You have failed!

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If they do, it won't make any difference, but I suspect they will want to be seen to be doing something.

Another fine mess!

laurel%20and%20hardy.jpg

I like you´re thinking. Can you or anyone else transpose the faces of the contemptibles. It would make a great front page of ´The Sun´.

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If your not allowed to fail at work, then this is just magnified right to the top (well it's actually top down really, but you get the gist), no-one wants to be the first to say 'we have failed'

Those at the very top have no one to answer to except themselves , they make the rules , they decide , they get away with it all if it all goes wrong , they are scum.

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Guest grumpy-old-man
I like you´re thinking. Can you or anyone else transpose the faces of the contemptibles. It would make a great front page of ´The Sun´.

that would be hilarious wouldn't it, Brown & darling.....however no change is required for Mr Bean Darling I fear. Did you all see the way he carried the 'Budget Bag' :D

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Guest X-QUORK

I liked a comment from one financial analyst on the Today program this morning:

"High interest rates didn't cause this problem, so lowering them won't solve it."

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What misleading Murdochian waffle!

The TImes is going the same way as the Express.

What do they mean another emergency rate cut - 1/4 % rate cut could hardly be seen as an emergency rate cut!

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I have given up trying to figureo ut what IRs are going to do now? You can find just as many 'experts' saying that IRs are going to rise as there are saying that IRs are going to be cut. What a mess.

Finally decided to take out one of those Lloyds TSB fixed rate ISAs this week though. My gut tells me that IRs will have to rise towardst he end of this year but, at the moment, I think the sods on both sides of the Atlantic will be cutting sooner than later, possibly this week.

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If they do, it won't make any difference, but I suspect they will want to be seen to be doing something.

Another fine mess!

laurel%20and%20hardy.jpg

I've always loved that scene where Laurel and Hardy are in a boat with a hole and the water is coming in fast. Laurel turns to Hardy and says - I've got an idea - if we make another hole on the other side of the boat, it'll let the water out!

Hardy says - that's a good idea!

You can just imagine Ben Bernanke and Hank Paulson having the same conversation about interest rates :

Hank - Ben, we've had interest rates too low for too long and it's caused a runaway debt boom that is about to sink the economy

Ben - I've got an idea - reduce interest rates now all over again and that will help.

Hank - that's a good idea!!

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  • 295 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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