Carney: Bank of England will take 'whatever action needed'

BBC... www.bbc.com...

Carney: Bank of England will take 'whatever action needed'
2 hours ago
UK interest rates have been cut from 0.5% to 0.25%, and the Bank of England has signalled that they could go lower if the economy worsens.

Carney: Bank of England will take 'whatever action needed'

How many times have FAILED POLICIES have to be tried and failed before they quit?

Since 2009, they have tried over and over, ever lower interest rates and more and more quantitive easing and stimulus.

ANd, for 7 years all it has done has been to...

- Aggravate trade deficits with CHina as everyone runs out to buy Chinese made crap.
- Gut the old age pensioners and saver and those on fixed income.
- Create rampant asset inflation
- Pushed property and real estate prices through the stratosphere.
- Done nothing to restart the actual "Main Street" economy.
- Make loaning to the poor not withwhile for banks, forcing them into the hands of CASHMONEY loans sharks who charge up to 10% a week in hidden fees.
- Make savings accounts from the poor not worthwhile, with banks and building societies closing accounts of the poor as they can more cheaply source funds from the Government rather than from depositors.

Mark Carney's determination to "stand by" with more rate cuts is the same as a doctor standing by a patients bed telling him he is ready to give him a good beating if he does not recover.

THIS CRAZY, WORLD-WRECKING KEYNESIANISM MUST STOP!!!

So lets look at this "stimulation" of the economy.

QE, reduces the value of the currency in most cases.

The news of interest rate drops has caused the pound to devalue.

Peoples money in banks now loses value, causing people to stop spending.

An estimated 250000 jobs will be lost.

This guy is an idiot.

a reply to: MenWIthHugeApplause

NEGATIVE interest rates, coming to a bank near you soon?

Kicking the can down the road mentality. Greed overpowers all in policymaking

Under Thatcher and Major the interest rates were sky high, because she was worried about inflation and wanted to reduce people's spending power. I remember the chancellor saying at the time, that it created unemployment for sure, but it was a price worth paying. People experienced negative equity, so not only did they lose their jobs, but in many cases their homes and we're still £thousands in debt.

Now they have cut interest rates to almost an all time low, and the talk is that it's going to create unemployment and a drop in the value of the £.

Does anyone know what they are doing?

a reply to: MenWIthHugeApplause

I was against Mark Carney's appointment from the start , the Ex Goldman Sachs and Bilderberg attendee seems intent on talking our economy down and making his pre-Brexit gloom and doom predictions come true , I notice the value of the pound fell again on the announcement loosing the gains it had made in recent weeks.

Doing his masters bidding.

a reply to: gortex

We've got to be punished for having the gall to vote to leave the E.U.

The Bilderbergs finger prints are all over it and it's sickening.

originally posted by: Nexttimemaybe
So lets look at this "stimulation" of the economy.



The news of interest rate drops has caused the pound to devalue.

Surely (to some) that's a good thing. Our currency has been pegged too high for years causing loads of good manufacturers to go out of business, or relocate to Asia/eastern Europe. Some companies are seeing some form of light suddenly with this low pound and foreigners are ordering our products. Sure things may be bad for some but for manufacturers who want to sell their wares abroad plus compete with foreign importers in the domestic market surely this is a good thing?

We need higher interest rates for the economy to grow. 7 to 8 percent on CDs would be perfect.

Any higher and nobody can afford to borrow,
Any lower and you might as well leave your cash in a mattress.

Britain over the last 150 years lived o being one of the worlds great manufacturing exporters. I just don't see what the problem is if we get competitive again and a vast swathe of our country outside of the South East is given an injection into its cities through a revival of industry and people get hope again of real employment. Low pound may rebalance our economy and that is a good thing

a reply to: MenWIthHugeApplause

Only we haven't really anything that could in anyway be described as Keynesian so it would be pretty difficult to stop it.

Austerity polices of the UK since 2010 are pretty much the exact opposite of Keynesian.

a reply to: MenWIthHugeApplause

I am guessing the UK will be selling off more of its Infrastructure assets to the Chinese CK Hutchison Holdings.

They still have control over their cinema though. if they start to sell those to the Chinese like America and Australia did, thats when we know its bad.