BOE FOCUS-Higher rates loom as BoE's credibility questioned

lemonjelly

lemonjelly wrote: »

I think what a couple of posters are trying to say (a little harsher than is needed guys - please be nice to moneysavers...)

chucky wrote: »

you reap what you sow

Don't take this like a Karl Henry challenge chucks, but I thing that sometimes people are unfairly aggressive towards Graham. He's entitled to question & post, & it is rare he is ever rude or abusive.

Lord only knows there's loads I don't understand on these subjects too. I may well ask similar questions to Graham.

Kind, well meaning posters have supported, helped me, and taught me much on these boards.

I genuinely believe Graham is seeking to learn.

I just don't feel that the aggression does anyone any favours.

You post some good stuff, & some funny stuff. I'd hate it for you to tarnish a good reputation.:)

Personally I like Grahams willingness to ask the question. And I respect his humility to say either he doesn't understand, or to explain why his perception differs from others. & I do feel he unfairly gets a hrad time for it - not specifically from you, but from a few posters.

Lets be friends.:D

lemonjelly

chucky wrote: »

that's what i understood the schedule to be when QE started.

i'd go with Purch's answer though, too much has gone on to be able to predict anything accurately.

Agree 100%

In addition, too much data is contradictory. As I stated earlier, the BoE with all their data have a shocking record over the past 5 years.

How are we supposed to cope?:eek:

lemonjelly

purch wrote: »

Nobody knows.

It's all guesswork :eek:

Possibly the most honest post I've ever read on these forums.:D

chucky

lemonjelly wrote: »

Don't take this like a Karl Henry challenge chucks, but I thing that sometimes people are unfairly aggressive towards Graham. He's entitled to question & post, & it is rare he is ever rude or abusive.

Lord only knows there's loads I don't understand on these subjects too. I may well ask similar questions to Graham.

Kind, well meaning posters have supported, helped me, and taught me much on these boards.

I genuinely believe Graham is seeking to learn.

I just don't feel that the aggression does anyone any favours

i have zero time for Devon until he stops his nonsense. if he did stop i'd have time for him, despite that he's probably a nice guy.

we are all learning things and it's good to challenge the way you think. i have little time for people (and don't apologise) for people who act the the way that he has done with me. it's not a coincidence it's from a few posters, he's done the same to them as well.

me and you is friends (well until Wolves get relegated)

Graham_Devon

lemonjelly wrote: »

lemonjelly wrote: »

I think what a couple of posters are trying to say (a little harsher than is needed guys - please be nice to moneysavers...)

Don't take this like a Karl Henry challenge chucks, but I thing that sometimes people are unfairly aggressive towards Graham. He's entitled to question & post, & it is rare he is ever rude or abusive.

Lord only knows there's loads I don't understand on these subjects too. I may well ask similar questions to Graham.

Kind, well meaning posters have supported, helped me, and taught me much on these boards.

I genuinely believe Graham is seeking to learn.

I just don't feel that the aggression does anyone any favours.

You post some good stuff, & some funny stuff. I'd hate it for you to tarnish a good reputation.:)

Personally I like Grahams willingness to ask the question. And I respect his humility to say either he doesn't understand, or to explain why his perception differs from others. & I do feel he unfairly gets a hrad time for it - not specifically from you, but from a few posters.

Lets be friends.:D

Slightly off topic, but I miss Hamish of all people!!

Learnt a lot from discussing with him, as he used to actually give reasoned responses, from an educated, allbeit, constantly optimisitic point of view.

We'd often go at it from both sides, and end up somewhere in the middle, often pulling each others leg, with no real resolution, but I think, and at least hope from his side, a mutual respect for the position.

Unfortunately Hamish in that sense seems to have dissapeared. He's still around, but someones pressed the rinse and repeat cycle button it seems. Which is a shame.

What's really getting on my wick with this forum at the moment is the completely one sided viewpoint and pointless points which turn into arguments.

"Its stagnated.....no, look at the data, it's up and down....no, thats stagnation, point to point....yes, but the data shows the tail of the rises in 2009 and start of falls in 2010....not interested, point to point stagnantion".

"Interest rates won't rise. Even if they do, everyones overpaying anyway and everyone paid those rates in 2007, theres no problem with interest rates rising, but they wont because were so screwed we can't, everything will fail....but people can afford it, theres no problems with rates rising, they could afford it in 2007....but they wont rise, too much to fail."

"Inflation is VAT it will fall out....but inflation from the VAT rise in 2010 didnt fall out.....inflation is due to VAT it will fall out.....but it didnt from 2010....inflation is due to VAT it will fall out".

And so on. Just trying to come from a different angle on this inflation argument. There are many things involved, many which we seem to simply ignore of skip over on this forum it seems?

shortchanged_2

Let's face it this country is shafted. The BoE are now almost at the stage where they are damned if they do and damned if they don't.

As chucky stated an interest rate rise is not really going to work for the causes of current inflation in this country, because at the moment it is being caused by global price increases in oil etc.

Interest rate rises are usually the BoE's weapon to control over spending in the economy, however that is not really an issue at the moment, more likely the opposite. This country is still in a period of weak growth and they are risking people spending even less if interest rates go up as people will have even less disposible income to pump into the economy due to higher mortgage payments etc, which in turn also means less tax revenues for the government.

I honestly (as most expert economists) don't know how the UK is going to fair over the next 12 months. All I do know is there are very rough seas ahead.

chucky

shortchanged wrote: »

Let's face it this country is shafted. The BoE are now almost at the stage where they are damned if they do and damned if they don't.

As chucky stated an interest rate rise is not really going to work for the causes of current inflation in this country, because at the moment it is being caused by global price increases in oil etc.

Interest rate rises are usually the BoE's weapon to control over spending in the economy, however that is not really an issue at the moment, more likely the opposite. This country is still in a period of weak growth and they are risking people spending even less if interest rates go up as people will have even less disposible income to pump into the economy due to higher mortgage payments etc, which in turn also means less tax revenues for the government.

I honestly (as most expert economists) don't know how the UK is going to fair over the next 12 months. All I do know is there are very rough seas ahead.

letting inflation run is the best worst case scenario i think

shortchanged_2

chucky wrote: »

letting inflation run is the best worst case scenario i think

Maybe chucky, although I would lean towards a small interest rate rise to say a base rate around 1%.

mbga9pgf

I reckon at some stage, merv is going to have to stand up and lecture inflation 101 to the nation...

Its the only way of making people understand.

olly300

mbga9pgf wrote: »

I reckon at some stage, merv is going to have to stand up and lecture inflation 101 to the nation...

Its the only way of making people understand.

He better start with the politicians.