Friday, Oct 30, 2009

Quick, bring me my needle!

The Guardian: Quantitative easing set to be extended as business lending slumps

Well here is an idea, lend less for mortgages on overpriced houses and more to sound businesses. And in what world should house prices be rising with unemployment and quantative easing be maintained on the back of a deflating, over indebted economy full of numbskulls who want to pay more than they can reasonably afford to live in shoeboxes?
Best just shoot up and keep going for another week or two until the next hit is needed. Quick, bring me my needle!

Posted by brickormortis @ 03:18 AM (1014 views)
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1. paul said...

This is starting to look distinctly like a government-created mini credit boom. The bankers have the government by the short and curlies, saying "build us another wall of free money or we might lend even less money".

The government is simply saying "will it help make house prices rise?"

I have a very bad feeling about this.

Friday, October 30, 2009 08:02AM Report Comment

2. mark wadsworth said...

Brickor, paul, you have summed it up nicely.

But that's what people want - steadily rising house prices, it is electoral gold.

Friday, October 30, 2009 08:26AM Report Comment

3. dbc reed said...

Nobody seems bothered that a lot of the quantitive easing money seems to be heading off towards the stock exchange,which is well ahead of the rest of the economy.So instead of a 21st century house price bubble the financial institutions are going back to what they know best, the old reliable of inflating a share bubble 1929 style.It is significant that everybody ignores the rise in stock market valuations; probably because they rightly think it is irrelevant .But it is relevant for showing all the designated demand stimulus money being diverted into asset inflation ,as per usual.

Friday, October 30, 2009 09:35AM Report Comment

4. 51ck-6-51x said...

"Following last week's weak third quarter gross domestic product figure, analysts said the Bank of England was now more likely to flood the economy with another £25-50bn in its so-called quantitative easing programme."
- Last week I made a curry from all the old veg that had been in my fridge for two weeks, it tasted pretty awful; next time I plan to leave it for a month, that'll work.

Friday, October 30, 2009 09:49AM Report Comment

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