Thursday, January 23, 2014

Crashy, Crashy :-)

Here’s why Mark Carney might prick London’s property bubble this year

Carney must be feeling a bit uncomfortable. When he agreed to take over as bank governor, Britain was still facing headlines about a ‘triple-dip recession’. Now everyone’s talking about a boom. Unemployment is plunging. When Carney said that he’d think about raising interest rates if unemployment hit 7%, he thought he’d effectively parked the issue for two years. But we’re now at 7.1%, and quite possibly only months or even weeks from his target. Carney has hardly embraced surging house prices with open arms in any case. In December, he warned that there was the “potential” for another crash. While it’s easy to dismiss such words as rhetoric, he has made some changes – such as preventing the Funding for Lending scheme from being used to fund mortgages.

Posted by khards @ 10:12 AM (4425 views)
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One thought on “Crashy, Crashy :-)

  • His bosses aren’t worried. 85 people own more than half the wealth in the world. They don’t care one way or the other.

    What irritates me is that none of them had to take a risk. It’s simple manipulation. crony capitalism.

    For example, Bill Gates didn’t need to struggle – he just did a dirty deal with the US NSA which opened up privacy on the internet as he sold his products to willing customers. In return, the US government looked the other way on his financial dealings and takeovers. So he retires as a hero??

    Carney will do as he is told, Goldman trained him to do that.

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