Re: Post-Brexit Thread
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Re: Post-Brexit Thread
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This is what you voted for. Almost everyone said there would be some rough times immediately after the vote. Until we know where we are going forward companies will continue to take steps to protect themselves. Most companies are, necessarily, defensive during uncertain periods. If they weren't behaving in that manner their shareholders would certainly have a case to sue them. The actions of the BoE should help a ton incidentally. What they've done is decisive and should prevent the drama turning into a crisis. While I have derided him in the past Mark Carney has been a rare voice of reason in all of this and the actions he and the MPC have taken have been proportionate, proactive and eminently reasonable so far. I'm just listening to him saying that banks have absolutely no excuse not to pass on the rate cut they just carried out, as the other policy measures have ensured they don't. ---------- Post added at 12:57 ---------- Previous post was at 12:56 ---------- Quote:
Printing money increases inflation generally, it doesn't involve any payback. Neither does it mean that the government bonds that they are going to buy with some of this will have to be paid back. The BoE can cancel the bonds. They create the currency, they can also destroy it. It's rather obscure however money these days is, almost entirely, nothing but numbers on a computer. If inflation were not an issue the BoE could 'print' it ad infinitum. The BoE are doing what they can to try and keep the economy motoring. When you can create your own currency, accepted worldwide, then I'm sure your credit card can go near 0.25%. |
Re: Post-Brexit Thread
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What the government do over the next 6 months will determine the ability of what large companies can achieve over the next 10 yrs.What we are seeing now is a sharp intake of breath waiting for the government to make it's move. |
Re: Post-Brexit Thread
If you look at the graph of this PMI thing, it goes down EVERY year at about this time. That wouldn't be the result of people going on holiday would it?:rolleyes:
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Re: Post-Brexit Thread
http://www.bbc.co.uk/news/live/business-36924098
Pound drops again..But hey that's just part of readjustments right? It's not going to keep happening is it? |
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https://www.cableforum.co.uk/images/...2016/08/17.jpg And various other indicators. The sum of that data pushed the BoE into acting to try and get stimulus into an economy that was already faltering somewhat. The PMI is accurate far more often than not. Where it and GDP disagree it's usually GDP that is adjusted. None of this is in any way unexpected, indeed the situation is somewhat more rosy than the apocalypse that we were told we would be in for. Still, whatever you need to tell yourself. :) https://www.youtube.com/watch?v=StTqXEQ2l-Y ---------- Post added at 18:17 ---------- Previous post was at 18:14 ---------- Quote:
Nothing at all to do with perceptions, entirely factually based. |
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Interest rates dropped in part because the PREVIOUS drop in the Pound and that was from the self-fulfilling prophecy of the scare mongers. |
Re: Post-Brexit Thread
Gauranted somebody and likely some groups are making money off this and as long as they can things will continue in practical terms nothing has changed a plan has been announced with zero action.
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The level of denial required to blame all negative impacts of the referendum result on 'scare mongers' is astounding. Companies and the BoE aren't campaigning anymore, and there is no 'Project Fear' now, it's Project Reality. The Bank of England are both accepting that it's bad and wanting to make a success of it, as I think all sane people are. You are apparently proud you voted the way you did so own the consequences, both good and bad. That way if the economy takes off after the rough period you can congratulate yourself without being a disingenuous hypocrite. Should it all end up going right I will be delighted to have been wrong for having been down on the result. Quote:
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Re: Post-Brexit Thread
Well in fairness Ignition for most of the campaign you were saying the doom and gloom from remain wasn't very reliable and i believe you called more then a bit of it rubbish so you are the last one to be honest having a go at anyone. Absolutely nothing in practical terms has changed there is zero reason for all this to be happening now but it is and rather then argue about what caused it perhaps we should be looking at a system that requires no actual change to go into meltdown. Perhaps it's time for some very radical reform of the financial markets given the impact they have on people and seemingly respond to a fart in the wind.
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