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Almost there! Unemployment hits 7.1%
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Graham_Devon wrote: »If I've got a deadline of Feburary and don't finish in February, so long as I keep extending the deadline until I've finished and finish within one of the extensions, I can claim I've finished within deadline....and I always would do, so long as I keep changing the parameters.
Wrong context.
The BOE is attempting to sail single handed around the world. So will need to adapt to the weather conditions day by day. The BOE does not control the weather. Whereas you can influence your ability to meet a deadline.0 -
Thrugelmir wrote: »Wrong context.
The BOE is attempting to sail single handed around the world. So will need to adapt to the weather conditions day by day. The BOE does not control the weather. Whereas you can influence your ability to meet a deadline.
True.
But they do control what they state. And what they state has to, surely, take into account the "weather" which they can't control. They don't seem to allow much leeway in their predictions and statements, which, I would assume contributes to them being so wrong so many times over the last few years.
This appears to be what happened here. The sun shined a little too much so they end up backpeddaling.
It's just coming across badly. IMO at least and the opinion of many outside of this forum. You only have to read any paper, left leaning, right leaning, financial, doesn't matter, to take overview of the comments, which are all of the same vein. i.e. why categorically state something only to turn around and categorically state something else as soon as the news is "too good" and they may actually have to do what they said they would. Instead, they simply switch tact. Let's not forget, we seem to luch from one reason to another in order not to look at interest rates. It was all about inflation. Then it was switched to being all about unemployment. Not it's switched to something else.
As I say, I'm not pretending I or anyone else could do any better. But suggesting that the BOE can't control the weather is fine....until that turns into "so they can't control their forecasts". Because they can control those.
Guess what I'm saying is, if they categorically state something, they should stick to it. If they are going to base it on the weather and the weather turns out to be different, they shouldn't just switch to basing it on something else that suits at the time. If something looks dodgy they should look into it instead of holding off until a pre determined point. I.e. act today - not tommorow.0 -
Graham_Devon wrote: »If I've got a deadline of Feburary and don't finish in February, so long as I keep extending the deadline until I've finished and finish within one of the extensions, I can claim I've finished within deadline....and I always would do, so long as I keep changing the parameters.
Point missed? There is no deadline, there never was. They want to give the impression that rates won't rise anytime soon. Moving the goalposts gives that very impression.
I never had the impression that any promises were made but then I've given a couple of minutes thought not just to what they say but what they mean and what they want me to do based on that.
Absolute clarity of what they'll do when would be self defeating so it'll never happen. IMO they want to convince you there's little to be gained by keeping lots of cash in the bank and are willing to lie to get you to behave accordingly.0 -
Graham_Devon wrote: »Maybe instead of spending so much time giving us pointless forward guidance that turns out to be a load of guff, they could spend time actually dealing with day to day stuff?
Have you ever read the Bank of Englands Forward Guidance ?
It's here on the BOE website.
http://www.bankofengland.co.uk/monetarypolicy/Pages/forwardguidance.aspx
It is not pointless, and is very clear on what the Bank will and won't do, and the conditions and events that will affect outcomes.
It is far clearer and straightforward than most of the ill judged and ill advised reporting that most people appear to rely on for their "facts"
If you want facts, it is always better to use the source material, rather than rely on other peoples spin and misrepresentation.'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
Graham_Devon wrote: »Of course it's working. It will always be "working" if you move the goalposts to make it work.
Are you still insisting that the zero hour and part time contracts are now 'real' employment and so the government employment figures correctly show the state of the employment market?
Are you really saying that? If you don't agree with the governments employment figures then can't you imagine a scenario where the BoE don't agree with them either?
Put away your blinkered desire to crash the economy and housing market so that you can buy a cheap house and then you might understand what is going on.0 -
Thrugelmir wrote: »Wrong context.
The BOE is attempting to sail single handed around the world. So will need to adapt to the weather conditions day by day. The BOE does not control the weather. Whereas you can influence your ability to meet a deadline.
Price goes up or quality comes down.
"Everything will be all right in the end... if it's not all right then it's not yet the end"
The Best Exotic Marigold Hotel"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
I think you might be overestimating the power of Devonian Economic Theory somewhat :eek:
What he desires and what will actually happen have been, and will always be, poles apart. It doesn't stop his MSE posting diarrhea. Perhaps he's deluded enough to think that his 40k plus posts on here aren't a waste of his time and effort. Perhaps the reason he is so obsessed with 'thanks' (so much so that he created re-wired to thank all his posts) is because he thinks that if he gets enough of them, the world will sit up and take notice?0
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