SilliamWhale
Member
Banks have made huge money in the past 18 months
Bank of England
- Thread starter nelly55
- Start date
Banks have made huge money in the past 18 months
Tubbylew
Member
- Location
- Herefordshire
The opposition (insert party here) are no different to the rest, folk will vote for them thinking it'll change things, it won't. They'll stay there for a spell, folk'll get sick of them because nothings changed, then the other lot will have ago and the cycle will repeat ad infinitum.
Usually one lot dismantles what the previous lot did & then spends a fortune replacing it, & so it goes on.
Tubbylew
Member
- Location
- Herefordshire
And on and on...
Who gives a flying fekk what them numpties say?
Is that the same 2020 when everyone stopped working cos of Covid? Or is it a different 2020?
Job vacancies drop at fastest rate since 2020 putting pressure on Bank
Vacancies fell by 6.95 per cent to 929,138 last month, the biggest decline since June 2020, according to jobs search engine Adzuna.www.thisismoney.co.uk
This is just the eventual consequence of zombie businesses that should’ve been taken out in 2007/2008 but have been on life support in the interim. Reality has eventually caught up.
Number of companies going bust hits 30-year high
More than 25,000 firms went under last year in England and Wales, as they struggled with rising costs.www.bbc.co.uk
Far to many companies are now running losses & offsetting past losses against any potential profits for the government to have any money to spare but they won't care as any tax give aways will be for the next government to renege on which is unlikely to be this lot.Is that the same 2020 when everyone stopped working cos of Covid? Or is it a different 2020?
- Location
- Lincolnshire
I suppose quite a few. Liz Truss certainly knows what happens if you attempt to persue policies that are "challenging" for international bondholders etc.
smallholder99
Member
but when will people grasp that banks aernt just making a 0.5% margin, theyre allowed to make nearly all of the money up out of thin air
More to life
Member
- Location
- Somerset
Come on spill how that works so we can all have a go ?
- Location
- Lincolnshire
I mean, they do need a license though. It's as if the system sustains a healthy version of musical chairs between banks, government, and regulator. With the wheels greased with knighthoods and bungs. Sorry, not bungs. They call them "non executive directorships".
- Location
- Lincolnshire
..
Anyway, with the (entirely caused by government taxation on goods) recent inflation figures, and the BoE bosses enforcing the whip on members, it was pleasing to see one vote for a rate cut today.
Given the federal reserve yesterday, this was entirely to the script.
Anyway, with the (entirely caused by government taxation on goods) recent inflation figures, and the BoE bosses enforcing the whip on members, it was pleasing to see one vote for a rate cut today.
Given the federal reserve yesterday, this was entirely to the script.
Bailey stresses that, while the overarching target is to get to 2%, the country does not need to be exactly there to shift the base rate.
“We don’t need to see inflation back at target. We need confidence it’s going there," he says
Thats the variable, that translates to, when the US drop interest rates, we will follow suit
IMF says we shouldn't cut taxes, from the highest tax burden in UK for 70 years, we'll have a job to cut taxes now as it probably means we'll have a downgrade on our credit rating and if we do get in the shite IMF will be stricter with conditions attached to bail out money
County and city councils are going to go bankrupt unless their tax take can be increased, looks like the government is going to allow them to increase council tax rates at their discression
UK cannot cut its interest rates until the US leads the cuts, unless we want to decrease the value of the £ to the $ and having the knock on inflation affects
“We don’t need to see inflation back at target. We need confidence it’s going there," he says
Thats the variable, that translates to, when the US drop interest rates, we will follow suit
IMF says we shouldn't cut taxes, from the highest tax burden in UK for 70 years, we'll have a job to cut taxes now as it probably means we'll have a downgrade on our credit rating and if we do get in the shite IMF will be stricter with conditions attached to bail out money
County and city councils are going to go bankrupt unless their tax take can be increased, looks like the government is going to allow them to increase council tax rates at their discression
UK cannot cut its interest rates until the US leads the cuts, unless we want to decrease the value of the £ to the $ and having the knock on inflation affects
Steevo
Member
- Location
- Gloucestershire
Spot on.
And the one thing still not being talked about is cutting government spending.
Headless chicken
Member
- Location
- West Wales
astonishingly though 2 of them voted for an increase! Bring back beheading i say for these absolute cock Wombles. No doubt living in an ivory tower. twits
- Location
- Lincolnshire
This is a confidence trick. They knew it wasnt going to happen, so could vote for a rise with no fear it would occur.
In the same way as a political party in opposition will say the government is wrong in anything it does, and suggest golden elephants for all if they get in. Then get in and change nothing.
You have to look long an hard for a time when nominal government spending, or nominal numbers of civil servants, fell.
Headless chicken
Member
- Location
- West Wales
But what happens if the other agreed? Shitty end of the stick for everyone and more business going under
- Location
- Lincolnshire
I think if you look at the makeup of the BoE MPC, then that would be unlikely to happen - there are 9 members of which 4 are "external" ie government appointed. Three of them have been fairly consistently the "odd ones out", so as long as the 5 from the Bank stick together, then its pretty much bombproof. All the voting details can be found and graphed from the BoE website, including todays vote.
Its more about "direction of travel", and being seen to be being tough. It would have been a huge own goal, had the recent blip in inflation - caused by the govt taxes on booze, fags etc - resulted in the external / government appointed members of the MPC voted in such a way as to put interest rates up! I mean, they would have had to be gilt edged idiots to not have seen that.
Trajectory is lower. But the Tories are getting perilously close to going "in the bin", so seeing where the tax cuts etc go in March will be good - will they be leaving the treasury with a "theres no money left" note in the style of Liam Byrne?