Wednesday, March 28, 2012

More of the same

Bank of England split on tackling next house price boom

Split on new financial policy committee will infuriate campaigners who want bank to take activist role to prevent another house price bubble

Posted by becky @ 11:05 PM (1527 views)
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6 thoughts on “More of the same

  • With the state of the economy in this country and the west as a whole I think it will be an awfully long time before the next ‘boom’. With near as dammit zero GDP growth, negative real wage growth, mortgage interest rates only just staggering up from an all time low and the death of the interest only mortgage there is simply nothing out there to create one end of.

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  • sibley's b'stard child says:

    Given that the FPC is also headed-up by good ol’ Merv I can’t say i’m surprised.

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  • To prevent a bubble getting out of hand first you have to identify it as a bubble. These clowns failed to do that in the years before 2007 despite several metrics screaming ‘housing bubble’ at them. Now they’ve fallen back to discussing the number of angels that can dance on a pin head.

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  • When you understand that the BOE’s lax monetary policy CAUSED the housing boom, then you can understand that it is ridiculous to ask the BOE to solve a problem with its left hand that it bought on by its right.

    “What You Should Know About Inflation” Henry Hazlitt (1964) http://www.mises.org/story/2914

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  • It is utterly astonishing with the damage that the last boom did, that there should be any equivocation on this issue at all.

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  • Why this is a bubble, nor are we out of it.

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