Saturday, December 1, 2007

David Smith is a disgrace

Rate cut urged to end the gloom

"Minford former adviser to Margaret Thatcher called for an urgent 0.75% cut" Three of London’s busiest shopping streets — Oxford, Regent and Bond streets — staged a “Super Saturday” yesterday, banning vehicles in an effort to attract more customers."The Engineering Employers’ Federation will report tomorrow that industry is still enjoying good demand, but that members are concerned" AHHHHAHHH AHHAHH HAHHAH

Posted by confused76 @ 10:07 PM (1254 views)
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13 thoughts on “David Smith is a disgrace

  • And so the bleating begins….Listen chaps its YOUR fault (greed) that got us into this mess in the first place, the secrets now out, no amount of rate cutting or other tinkering from you or your money shuffling chums is gonna stop this one.

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  • Yeah, but David Smith bought property in grotty East London the year before last.

    He’s got to protect his own private interests somehow, and he’d be the first to use his professional role to influence his personal finances.

    Thank goodness he’s seen as a dim-witted market shill and he’s not in a position of any power!

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  • DAvid smith is a double disgrace. I named my two dogs “David” and “Smith”.

    Time for a rate cut gift from the Bank
    http://business.timesonline.co.uk/tol/business/columnists/article2982663.ece

    “Of the others we have heard from in recent days, Bank governor Mervyn King, Charlie Bean, chief economist, and Rachel Lomax, the other deputy governor, it has been hard to detect anything that hints at an imminent cut. Tim Besley and Andrew Sentance, the MPC’s überhawks, appear unbending.”

    Just forget about this cut David! Go on with life.

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  • “Housing-market activity has tailed off sharply with prices down 0.8% last month, according to Nationwide (after an odd 1.1% October rise) and mortgage approvals at their lowest for nearly three years.”

    David, you are just an ignorant journalist.
    you cannot read tea leaves and Nationwide reports to gauge the state of the economy. you would (wrongly as usual) conclude that Germany’s economy is pear shaped since house prices have been deflating since year 2000

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  • Smith is a dipstick.

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  • I hate to blow my own trumpet but spookily enough I predicted this would be Mr Smiths theme yesterday – before the papers came out – he is so predictable. He has claimed before that he only owns one property. where do you get your information Paul ?

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  • David Smith's Sub Prime. . . says:

    What is it with David Smith?

    Why doesn’t he understand basic economic principles like inflationary tendancies?

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  • The BOE is under a lot of pressure to cut rates, but if they do so, their fundamental remit – to control inflation – will be thrown to the dogs.

    And if they do, will mortgage rates drop? – only if you have a tracker deal – so it won’t make much odds as far as the housing market is concerned.

    It’s very unclear what the BOE will do this week – I’ve been predicting for a long time now that the govt will eventually be forced to abandon the policy of inflation targetting, and I can envisage our Merv giving Darling a ring this week and asking ‘how serious are you about sticking to the remit?’

    As Darling gives every impression of being clueless when it comes to managing HIS remit – the answer is hard to predict.

    If they cut rates this week, read that as ‘we’re letting inflation out of the bag’ If they are serious about keeping inflation under control, they will raise rates this week – but that seems unlikely

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  • Our country is ravaged by inflation fueled BOTH by the low rates and by the surprisingly LOW investment in new capacity that should have come as a response to the favourable economic conditions of the last decade
    see for instance
    http://scotlandonsunday.scotsman.com/business.cfm?id=1882552007

    school fees have gone up at TWICE inflation (i mean twice RPI or 10% pa). Have new schools been built?

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  • eyeoftheweasel says:

    Good to see that every single person who added a comment at the end of this article (at the time I read it there were 7 comments) seemed to understand the implications of cutting interest rates and was dead against it. Unlike Mr. Smith and the so called experts whose views he was supposedly expressing.

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  • I have said before that talk of a rate cut, or indeed a rate cut before xmas is nothing more than a stunt to get the people to have one last spending binge to stop the economy crashing out. A little injection of ‘feel good’. People are starting to feel very nervous at the moment. If they cut before xmas they will have to pull the rug from under them in the new year. There is no justification for a rate cut before xmas. My guess is rates on hold again.

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  • I left a comment! I am Lawrence Wilson from Bristol! I feel very flattered it was printed…

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  • Well said chaps and chapesses

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