Bank of England to consider £50bn stimulus for economy Bank of England to consider £50bn stimulus for economy
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  1. #1

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    Default Bank of England to consider £50bn stimulus for economy

    "Worsening economic prospects could force the hand of the Bank’s Monetary Policy Committee, which last month voted to pause its purchase of government bonds after pumping £325bn into the market through quantitative easing.

    Since then however, the data have painted a picture of a worsening, not improving outlook for the British economy, and there is no sign of a solution to the eurozone crisis.

    The Office for National Statistics said the recession that began in the first quarter was deeper than it initially thought, with the economy shrinking by 0.3pc in the first three months of the year and not 0.2pc as it previously estimated.

    Then on Friday the Markit/CIPS manufacturing PMI showed the sector shrank at the fastest pace in three years in May, suggesting manufacturing will be a drag on the wider economy in the second quarter.

    George Buckley, economist at Deutsche Bank, said the grim manufacturing PMI survey was "a game changer".

    Source: Bank of England to consider £50bn stimulus for economy - Telegraph

    LOL - they blame grim manufacturing as reason but is it the manufacturing companies that get the money? No, of course not - they probably need to prop up Govt bonds again to show that UK is a "safe heaven" compared to high yield required in Spain

  2. #2

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    Doggy Styles is a permanent contractor


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    AtW - what do you know about fiscal policy? If you'd had your way, the UK would be locked into the euro, and most of our banking and other financial services industry would have relocated abroad.

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    Quote Originally Posted by Doggy Styles View Post

    AtW - what do you know about fiscal policy? If you'd had your way, the UK would be locked into the euro, and most of our banking and other financial services industry would have relocated abroad.
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    Quote Originally Posted by Doggy Styles View Post
    AtW - what do you know about fiscal policy?
    I know that printing money results in inflation - I had first hand experience of that in 1992 when Russian inflation hit 2100% per year

    Yes I'd take Britain into euro in 1999 and deal with real estate bubble that was forming at the time - avoid selling gold and build up exports without relying on banking system doing things that are illegal in USA which is why they shift them to London (see what Lehman did):

    http://www.guardian.co.uk/business/2...repo-105-enron

    Now I am going to do some work to keep growing SKA Inc - unlike banks that you love so much it does not get taxpayer bailouts or cheap freshly printed money.
    Last edited by AtW; 3rd June 2012 at 15:25.

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    Quote Originally Posted by AtW View Post
    If I was in charge of fiscal and tax policies then I'd help put Great back into Britain
    The Great has always been in Britain.

    I admit we did struggle for a time, we let chancers like yourself in and let them abuse our benefits system.

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    Quote Originally Posted by minestrone View Post
    I admit we did struggle for a time, we let chancers like yourself in and let them abuse our benefits system.
    You think I'd give a tulip about a few hundred quid a week or whatever it is and a free social house in a tuliphole?

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    Quote Originally Posted by AtW View Post
    You think I'd give a tulip about a few hundred quid a week or whatever it is and a free social house in a tuliphole?
    Well you clearly came to this country and claimed benifits for years, in my mind you have abused our hospitality, now you want to put the Great back into Britain. Tell me another one.

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    Quote Originally Posted by minestrone View Post
    Well you clearly came to this country and claimed benifits for years
    Which benefits did I claim "clearly"?

    Please list them - I'd like to know what I supposedly claimed over the years!

    Go on support your claim with some specifics - say publicly what you believe I've claimed.

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    Quote Originally Posted by AtW View Post
    Which benefits did I claim "clearly"?

    Please list them - I'd like to know what I supposedly claimed over the years!

    Go on support your claim with some specifics - say publicly what you believe I've claimed.
    Why dont you be up front an honest and state what you claimed.

    You have recieved a substantial income from the state. If I am wrong sue me.

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    Further stimulus is going to decimate the stock markets. Previous QE hasn't worked, which means that any more QE will be seen as desparate last resorts - and likely to fail.

    Read the history of the Great Depression - we're in for a very hard time over the next 5 to 10 years. Shame the world's governments didn't take heed from that era's mistakes.

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