Thursday, Oct 08, 2009

Stop at 175 billion? It may be fun to guess what the final figure will be, before their forced to st

Stop at 175 billion? It may be fun to guess what the final figure will be, before their forced to stop.: Bloomberg

Oct. 8 (Bloomberg) -- The Bank of England plans to spend the remainder of its 175 billion-pound ($278 billion) bond- purchase program as officials seek to drive home the economy’s recovery.
The Monetary Policy Committee, led by Governor Mervyn King, kept the target for its plan unchanged today, as predicted by all 42 economists in a Bloomberg News survey. The central bank also maintained the benchmark interest rate at a record low of 0.5 percen

Posted by flintster1994 @ 12:49 PM (1433 views)
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1. flintster1994 said...

Ooops. Title should read "BOE Will Spend Rest of Bond Plan to Ensure Recovery".

Thursday, October 8, 2009 12:50PM Report Comment
 

2. flintster1994 said...

Note to self; read articles posted already before posting myself!

Thursday, October 8, 2009 12:57PM Report Comment
 

3. chrisa said...

Oct. 8 (Bloomberg) -- The Bank of England plans to spend the remainder of its 175 billion-pound ($278 billion) bond- purchase program as officials seek to drive home the economy’s recovery.

What recovery? All we are seeing is a fake recovery based on devaluation and fiscal stimulus and concerted media spin in an effort to return to the pre 2007 days which were themselves an economic illusion based on debt and cheap credi. The UK is insane, run by an insane elite who have based the economy around housing because their addiction to Globalisation has left the UK with very little else to do. It can't continue much longer like this.

Thursday, October 8, 2009 01:01PM Report Comment
 

4. paranoia blue said...

Recovery? It is merely stimulation simulation!

Thursday, October 8, 2009 01:09PM Report Comment
 

5. chrisa said...

'Stop at 175 billion? It may be fun to guess what the final figure will be, before their forced to stop'

No way will they stop at 175 billion. The final figure over the next three years will be whatever the total of the budget deficit is over three years, in other words around 500 billion, if they can get away with it. It has to be in that area because where else is the money going to come from to cover government debt?

Thursday, October 8, 2009 01:37PM Report Comment
 

6. bystander said...

....or chrisa@5 to keep the equities markets rising to ever more unsustainable levels, based on 'not as bad as expected' economic data, like the spin fuelled Alcoa "revelation"of yesterday and the "not so bad"jobless claims of today, expect DJia and FTSE to soar on this spin.

Thursday, October 8, 2009 02:03PM Report Comment
 

7. chrisa said...

Bystander at 6 ...Indeed. I think the article quotes a BoE member saying how rising assets will create a 'virtuous circle of recovery' . Pump it all up again (stocks, housing, commodities) with fresh money and maybe you can convince people it's all coming up roses again. It may have no foundations at all but hey who cares apart from the people seeing their currency devalued to nothing?

Thursday, October 8, 2009 02:15PM Report Comment
 

8. hpwatcher said...

Irresponsible tossers....

Thursday, October 8, 2009 02:18PM Report Comment
 

9. Karma4all said...

paranoia blue@4

It's considered good practice to provide plenty of foreplay before you actually get down to the business of actually ...
Sorry, couldn't resist.

Thursday, October 8, 2009 02:31PM Report Comment
 

10. mark wadsworth said...

"Whatever it takes"

Thursday, October 8, 2009 03:43PM Report Comment
 

11. jackas said...

Hey Mark that's my line.

Have you ever turned the treadmill up so fast that you get worried you can't get enough stability to turn it back down again? That's how the BoE must be feeling with QE right now.

I'd like to see people like Stuart Law's of Assetz face when he makes his next £100,000 on a house and HE CAN'T BUY A FKIN LOAF OF BREAD WITH IT. That's what it's going to take for these feckin numbskulls to realise what is happening,

Thursday, October 8, 2009 09:17PM Report Comment
 

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