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The BOE is going to cut


No One

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How low can it go?  Remember the recent cries of "they can't lower it any further or you will be paying them to look after your savings" ? O.o

Anecdotal : I was discussing this last year with a chap (millionaire type) in Denmark who had just bought a farmhouse there with land, he could have paid cash but was advised to get a mortgage as interest rates at the time were negative (ie borrow money from the bank - buy a farmhouse - then the bank pay YOU interest on the money you borrowed) :Beer:  https://www.bloomberg.com/news/articles/2019-05-23/bankers-stunned-as-negative-rates-sweep-across-danish-mortgages

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TheCountOfNowhere
16 minutes ago, spunko said:

No need to be glum, get out there and spend spend spend! Slaveboxes and overpriced German cars have never been cheaper. :CryBaby:

Carneys leaving gift to his mates. 

He's times his exit perfectly. 

 

####

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5 hours ago, Tdog said:

They need to raise interest rates, bring asset prices down and get savers spending.

Savers dont spend. They save. For a deposit.

The spenders are the boomers, with fat pensions and houses bought for pennies.

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The more they cut, the more people will save. That's how it works, although apparently Central Bankers don't understand this.

People save more the lower the interest rate as they realise that they will need to have even more cash on hand (particularly to make up for not getting any interest).

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8 hours ago, Errol said:

The more they cut, the more people will save. That's how it works, although apparently Central Bankers don't understand this.

People save more the lower the interest rate as they realise that they will need to have even more cash on hand (particularly to make up for not getting any interest).

Despite ten years of evidence that QE and ZIRP drive velocity down,they double down.....again...

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8 hours ago, Errol said:

The more they cut, the more people will save. That's how it works, although apparently Central Bankers don't understand this.

People save more the lower the interest rate as they realise that they will need to have even more cash on hand (particularly to make up for not getting any interest).

I read/heard saving rates have actually risen in Germany due to negative rates!  The central banks and co there, here, and pretty much everwhere are a failure.  Idiots or worse.  Wrong.

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Looks like the economy only has one lever ? 
Surely after Brexit a quick cut in vat to 15% would give a quick boost ? 
or just give everyone a couple of grand 

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TheCountOfNowhere
13 minutes ago, Malthus said:

Looks like the economy only has one lever ? 
Surely after Brexit a quick cut in vat to 15% would give a quick boost ? 
or just give everyone a couple of grand 

There is no economy... Just a debt fuelled pyramid scam. 

Hence why they need to cut rates. 

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3 minutes ago, TheCountOfNowhere said:

There is no economy... Just a debt fuelled pyramid scam. 

Hence why they need to cut rates. 

And the only way a pyramid scam works is by adding more people to the bottom. Hence mass immigration 

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TheCountOfNowhere
6 minutes ago, One percent said:

And the only way a pyramid scam works is by adding more people to the bottom. Hence mass immigration 

It does appear that way. 

 

Don't forget to magic up cash to lend to them or their slavers to house them. 

 

Thatcher has a sin to answer for

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  • 2 weeks later...
TheCountOfNowhere
On 13/01/2020 at 12:10, No One said:

You can’t make this shit up .

 

0,75 is just not low enough 

Did they cut? 

 

Remvered when rates were 0. Fuck all they kept saying they'd raise... Now they said they'll drop. 

They're making it up. 

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