Boeing Share Discussion Threads

[westcoastrich] 23/12/2008 13:42

Mortgage lending 'shrinks again'
For sale signs
House prices have plunged during the last year

UK mortgage lending by the major banks has fallen sharply, with approvals for house purchases 60% lower than a year ago, figures show.

The number of mortgage approvals for house purchases fell by 14% in November to a new low of 17,773, according to the British Bankers' Association (BBA).

People remained worried about the effect of the slowing economy on their personal finances, the BBA said.

[westcoastrich] 22/12/2008 19:34

yes cool ideas

[gsands] 22/12/2008 17:57

Many people do not know this, but there was a period early in America's history when the Government, in charge of the money supply, printed dollar bills and loaned them with zero interest.

Seem strange? Not at all - if you can print money for nothing, why charge interest on it?

Another variation on this idea which has been put forward is for the Government to lend money at interest and reduce or abolish income tax (they get the revenue from lending - instead of the private banks making huge profits from lending printed money to people).

[westcoastrich] 22/12/2008 08:05

yankee d00dle - 21 Dec'08 - 21:19 - 95109 of 95128


The UK authorities are about 6 months behind the curve on this and now appear to have lost control of the UK economy. Brown as usual is concentrating on the spin in order to promote himself.

Reality will finally catch up Q2 2009.

[westcoastrich] 21/12/2008 09:23

UK Base Rate
2.00 %

Last movement:
1.00% (04/12/08)

Last decision:
1.00% (04/12/08)

Next decision:
12:00 8th Jan 2009

[westcoastrich] 19/12/2008 21:46

yes abolish income tax, cut rates to 0%, good ideas

[gsands] 19/12/2008 11:35

Perhaps now that usury is becoming so profitless, it can be banished altogether and Governments can take control their national money supply and lend money interest free - or with interest and then abolish income tax.

[westcoastrich] 19/12/2008 10:59

TOKYO -- Three days after the Federal Reserve cut its key interest rate to a historic low, the Bank of Japan played catch-up Friday by lowering its benchmark rate to just above zero.

Signaling its willingness to fight aggressively to keep Japan's economy from spiraling deeper into recession, the central bank trimmed its benchmark rate by 0.20 percentage points to 0.1%,

[gsands] 19/12/2008 09:27

I wonder if the correction in the GBP is just about over?

[webberley2] 18/12/2008 18:58

British pound plummets to fresh record low against euro
12/18/2008 5:38 AM ET TOP MARKET NEWS



Fed's Fisher Warns Of Continuing Contraction And Higher Unemployment





Choppy Trading Persists On Wall Street In The Early Afternoon - U.S. Commentary





Obama Names Choice For New Top Securities Regulator





Stocks Continue To Turn In A Lackluster Performance - U.S. Commentary





Near-Term Prospects For Economy Deteriorated In November



(RTTNews) - Thursday, the British pound plunged to an all time-low against the European currency on speculation of an aggressive rate cut by the Bank of England to revive the economy. The pound also showed weakness against the US dollar and slumped to a new multi-year low versus the Swiss franc.

[westcoastrich] 18/12/2008 10:14

New housing starts at lowest level since 1924
new car sales at lowest since 1966
interest rates lowest since 1953

[moneyman18] 18/12/2008 09:57

Someone does not like the UK GBP

[westcoastrich] 16/12/2008 20:27

US rates slashed to 0.25

Yet UK rates are 8x this level

[westcoastrich] 12/12/2008 07:26

'Cassandra' Blanchflower Leaves BOE After Rate Battle (Update1)
Email | Print | A A A

By Brian Swint

Dec. 11 (Bloomberg) -- David Blanchflower, the first Bank of England official to predict the recession, plans to step down in May after winning a year-long campaign to take an ax to interest rates.

Blanchflower, 56, called for rate cuts every month since October 2007, arguing that weakness in the labor market warranted a stronger response from the Monetary Policy Committee. While his push put him at odds with Governor Mervyn King, the economy is now contracting and the Bank of England has reduced the benchmark rate three times in as many months to a five-decade low of 2 percent.

"He's a Cassandra," said Neil Mackinnon, chief economist at ECU Group Plc in London and a former U.K. Treasury official. "The important thing now is that the MPC understands the severity of the situation. It would have been worse had they continued to bury their heads in the sand."

Blanchflower's decision to leave after his term expires will deprive the Bank of England's nine-member board of its most vocal dissenter and a job-market economist at a time when unemployment is rising the most since 1992. Since October 2007, he voted against King nine times and was the lone rate-cut advocate on seven occasions.

"He deserves credit to take a view so much at odds with the rest of the committee," said Michael Saunders, chief Western European economist at Citigroup Inc. in London. "To do that and be right: that's an achievement. He would have prefered to have persuaded the others as well."




Well done Mr Blanchflower. I think Merv should have gone instead.

[whiterussians] 10/12/2008 16:42

Darling says recession now likely
Alistair Darling
Mr Darling says low interest rates will aid the economic recovery

Alistair Darling has admitted that the UK economy is likely to enter a recession, but expects growth to return "in the second half of next year".

[gsands] 08/12/2008 21:04

westcoastrich,

Thanks for posting the article. One of the best I've read for a long time. Jeff Randall has hit the nail squarely on the head. I couldn't agree with his points more.

[fox tail] 08/12/2008 07:04

rates never go to technically 0% even in japan they went th 0.25% - they basically keep having the faction of the point thats left

[westcoastrich] 06/12/2008 09:06

When will base rates get to 0%??

[westcoastrich] 05/12/2008 09:23

Telling the truth is lambasted in politically correct Britain
Jeff Randall criticises the "progressives" who would rather suppress inconvenient facts than confront reality.

By Jeff Randall
Last Updated: 7:34AM GMT 05 Dec 2008

[logica2me] 04/12/2008 23:27

Smelgy - 3 Apr'08 - 13:40 - 37 of 237


............I have the greatest respect for Roger Nightingale and his views, but a cut of 250 basis points?

More chance of me becoming the next Pope!

[westcoastrich] 04/12/2008 23:21

get rates to 0% before its too late