Presumably because the Governor said interest rates were going to rise soon because of inflation. But the appreciation itself will take some of the sting out of import prices so who knows?
The last cut was a mistake and should be reversed soonest. We want to get to 1% within 6 months or so but gradually. The distortions caused by excessively low interest rates have long since stopped being helpful to the economy.
Presumably because the Governor said interest rates were going to rise soon because of inflation. But the appreciation itself will take some of the sting out of import prices so who knows?
The last cut was a mistake and should be reversed soonest. We want to get to 1% within 6 months or so but gradually. The distortions caused by excessively low interest rates have long since stopped being helpful to the economy.
Assume that this, if sustained, will dampen import inflation and help in closing the gap between pay rises and the inflation rate.
There does seem to be noises coming from business both in the UK and Europe for both sides to get on with trade talks and avoid tariffs.
If Theresa May's Florence speech does indeed light the negotiations in Europe then the pound may well have more in the upside then down
Presumably because the Governor said interest rates were going to rise soon because of inflation. But the appreciation itself will take some of the sting out of import prices so who knows?
The last cut was a mistake and should be reversed soonest. We want to get to 1% within 6 months or so but gradually. The distortions caused by excessively low interest rates have long since stopped being helpful to the economy.
Assume that this, if sustained, will dampen import inflation and help in closing the gap between pay rises and the inflation rate.
There does seem to be noises coming from business both in the UK and Europe for both sides to get on with trade talks and avoid tariffs.
If Theresa May's Florence speech does indeed light the negotiations in Europe then the pound may well have more in the upside then down
I think that is a fair assessment. Whether the politicians on either side of the channel are listening to business is a moot question, however.
The last cut was a mistake and should be reversed soonest. We want to get to 1% within 6 months or so but gradually. The distortions caused by excessively low interest rates have long since stopped being helpful to the economy.
The distortions themselves were never helpful. They may have been a necessary cost of QE, but they may also have been more damaging than QE was helpful. The increase in asset values for those with property and paper assets will reverberate politically for years.
In a related but separate development, it emerged on Thursday that Red Bull are set to split with Renault at the end of 2018, after the French car company told them they would not be extending their contract, after years of antagonism between the two partners.
Mr. Eek, that is significant, and was trailed yesterday (or the day before). As you might expect, I'll be commenting a bit on that in the pre-qualifying ramble tomorrow.
Red Bull were very unfair towards Renault a couple of seasons ago. McLaren have been Zen Buddhists by comparison, yet with greater cause for resentment.
A rare joy of First Minister’s Questions is spotting the Toady of the Week, the Nationalist backbencher who bids to ingratiate themselves by asking Nicola Sturgeon the softest question.
It’s a balancing act and all too easy to trip over your forelock as you tug it.
Sometimes it’s James Dornan, the Glasgow Grunter, who confronts diction like a baboon wrestling a trombone. There are a series of howls strung together by the occasional caw of ‘Westminster’ and since no one can decipher the cacophony the First Minister can talk about a topic of her choosing.
Has he just leaked UK intelligence info given to him in confidence?
When the f are the GOP going to get rid of this guy who is such a risk to the Republic.
The GOP can't get rid of him as long as the GOP base support him, more likely Trump gets rid of the GOP at least as far as control of the House is concerned
Device had a timer - looks as if it could have been a much bigger disaster if it had gone off underground
The District line would be a pretty dumb target in that case. It's largely above ground, and the bits that are underground aren't like the victoria/northern line.
Mr. Eek, that is significant, and was trailed yesterday (or the day before). As you might expect, I'll be commenting a bit on that in the pre-qualifying ramble tomorrow.
Red Bull were very unfair towards Renault a couple of seasons ago. McLaren have been Zen Buddhists by comparison, yet with greater cause for resentment.
And now the very first time Renault can legitimately tell them to go and take a running jump Renault have gone and do so - what is so impressive (within F1) is how Renault managed to keep their planned revenge quiet...
I expect even increasing numbers of Brits are moving towards internment
The public usually overreact because the public is usually unaware of the likely consequences of the policies they advocate. Leaders should know better.
I expect even increasing numbers of Brits are moving towards internment
The public usually overreact because the public is usually unaware of the likely consequences of the policies they advocate. Leaders should know better.
That's pretty patronising. "The Public" presumably has access to as much information concerning past attempts at internment as, say, Jess Phillips or Nadine Dorries.
Device had a timer - looks as if it could have been a much bigger disaster if it had gone off underground
The District line would be a pretty dumb target in that case. It's largely above ground, and the bits that are underground aren't like the victoria/northern line.
Weren't two of the July 7th bombings were on the Circle line. I guess the strength of the carriages contains enough of the blast to create the injuries before releasing it, and the nearness of the tunnel walls does little except complicate access afterwards.
ISTR that the earliest bit of the underground, the Metropolitan line through Kings Cross to ?Farringdon?, was built to broad gauge standards so GWR trains could also operate though it (it had three rails; one set a standard gauge, and a third rail at broad gauge. I wonder if this means that those sections of tunnel are roomier than later sections?
I expect even increasing numbers of Brits are moving towards internment
The public usually overreact because the public is usually unaware of the likely consequences of the policies they advocate. Leaders should know better.
The last cut was a mistake and should be reversed soonest. We want to get to 1% within 6 months or so but gradually. The distortions caused by excessively low interest rates have long since stopped being helpful to the economy.
The distortions themselves were never helpful. They may have been a necessary cost of QE, but they may also have been more damaging than QE was helpful. The increase in asset values for those with property and paper assets will reverberate politically for years.
There is an argument that in the short term very low interest rates brings forward consumption, discourages saving, helps those struggling with debt and makes it easier for the government to run a large deficit (ahem) all increasing demand. The combination of recession and high interest rates in the early 80s was devastating to large sections of UK manufacturing and when combined with a petro-driven pound caused us to lose more of our base than we should have.
In the medium term it results in excessively high house and other asset prices, a huge switch of wealth to the already rich at the cost of the poor, the devastation of pensions and excess consumption rather than investment. We passed into the medium term some years ago now.
Device had a timer - looks as if it could have been a much bigger disaster if it had gone off underground
The District line would be a pretty dumb target in that case. It's largely above ground, and the bits that are underground aren't like the victoria/northern line.
What does seem to have been fortunate is that it has partially gone off when the train was either stationary or pretty close to it allowing the doors to be opened very quickly and allowing people to escape. I will be quite surprised if this was left much more than the previous station by the bomber. There would be too much risk of it being identified or queried.
When the history books are written, Trump will be known as the Twitter president.
(That's if any of us survive his term to write any history books).
He's been busy all morning by looks of his stream.
The first Twitter president, sadly. He has set an example which will be followed, even if everybody would say if asked that the way to deal with him is look what he does and do the opposite.
I expect even increasing numbers of Brits are moving towards internment
The public usually overreact because the public is usually unaware of the likely consequences of the policies they advocate. Leaders should know better.
That's the same argument we heard about the EU for years, of course.
I'd argue it's incumbent upon leaders to respectfully explain the advantages and disadvantages of policy options to the public, preferably in contested debate.
This is interesting. Boris Johnson explicitly argued that voting Leave was a way of escaping accumulated financial obligations to the EU, what he called a 'backlog of unpaid bills'.
Device had a timer - looks as if it could have been a much bigger disaster if it had gone off underground
The District line would be a pretty dumb target in that case. It's largely above ground, and the bits that are underground aren't like the victoria/northern line.
What does seem to have been fortunate is that it has partially gone off when the train was either stationary or pretty close to it allowing the doors to be opened very quickly and allowing people to escape. I will be quite surprised if this was left much more than the previous station by the bomber. There would be too much risk of it being identified or queried.
Parsons Green is just after Putney Bridge. I wonder if the bomb was intended to go off whilst the train was crossing the river.
I expect even increasing numbers of Brits are moving towards internment
The public usually overreact because the public is usually unaware of the likely consequences of the policies they advocate. Leaders should know better.
That's the same argument we heard about the EU for years, of course.
I'd argue it's incumbent upon leaders to respectfully explain the advantages and disadvantages of policy options to the public, preferably in contested debate.
I'd agree with that but if you measure opinion at the start of any such process then you will pick up the knee-jerk reaction.
And in what is usually a parliamentary democracy, it is the MPs (and particularly the front benchers) whose job it is in the first instance to know the practical limits of policy. The public need to be brought along but it's not essential to retain support on everything all the time.
When the history books are written, Trump will be known as the Twitter president.
(That's if any of us survive his term to write any history books).
He's been busy all morning by looks of his stream.
The first Twitter president, sadly. He has set an example which will be followed, even if everybody would say if asked that the way to deal with him is look what he does and do the opposite.
We can always hope that twitter goes bankrupt and that the subsequent platforms are too fragmented and ideologically pure to really hit mass market take-off.
I expect even increasing numbers of Brits are moving towards internment
The public usually overreact because the public is usually unaware of the likely consequences of the policies they advocate. Leaders should know better.
That's pretty patronising. "The Public" presumably has access to as much information concerning past attempts at internment as, say, Jess Phillips or Nadine Dorries.
Not really. I expect MPs to know about these things; it's their job. Less is required of the public (and rightly so).
It is difficult to deny, much as I might like to, that this is a Corbyn bounce. England’s unfathomable flirtation with the most obnoxious leader in Labour’s history has extended north of the border. June’s election was no fluke; Labour is growing again in Scotland.
This is interesting. Boris Johnson explicitly argued that voting Leave was a way of escaping accumulated financial obligations to the EU, what he called a 'backlog of unpaid bills'.
Because the EU had spent more than it had budgeted for or had been approved by its members. Why should we be on the hook for that? You can't both claim that we're liable for what had been budgeted because we'd agreed to it - while simultaneously claim that we're liable for unpaid bills that had not been budgeted or agreed to. Which is it? The hypocrisy on show is massive.
Besides is your argument that the EU is so fiscally incontinent that we should have stayed in?
The sisterhood have got it in for him judging by women's hour on r4. Including Isabel hardman, so not just the spartists. I thought it was funny and not actually"gendered" at all. But it's getting a short term laugh at the expense of long term damage. Placing a whoopee cushion on the throne at the next coronation would similarly be both very funny, and ill advised.
A free British citizen being hounded by self-styled moral arbiters for a joke he made in private? I'm expecting a full-page polemic against it by Brendan O'Neill!
Ever since Jo Cox murder, the heightened abuse against politicians and the debate in Parliament yesterday, George's comments were very badly timed as they fit into both categories, abusive language towards a politician and in this case a woman
Ironically his private remark may just have rebounded on him in a way he did not foresee
What's your solution by the way? Presumably making nasty jokes about politicians should be treated as a Hate Crime.
There are some who are genuinely wanting to legislate on this, especially in the labour party.
I am not one of them or in the labour party
My word. Agreeing twice!!!! Contempt for such utterances is, IMHO, better than resorting to law!
Lets try to make it a hat trick
Sorry; after posting my last post I went off to finish (37 out of 37) radiotherapy appointments at the local hospital. Dropped in to have a look at lunch, and now I’m off to a U3a group this afternoon, so there’ll probably be a new thread by the time I get back to the computer
The sisterhood have got it in for him judging by women's hour on r4. Including Isabel hardman, so not just the spartists. I thought it was funny and not actually"gendered" at all. But it's getting a short term laugh at the expense of long term damage. Placing a whoopee cushion on the throne at the next coronation would similarly be both very funny, and ill advised.
A free British citizen being hounded by self-styled moral arbiters for a joke he made in private? I'm expecting a full-page polemic against it by Brendan O'Neill!
Ever since Jo Cox murder, the heightened abuse against politicians and the debate in Parliament yesterday, George's comments were very badly timed as they fit into both categories, abusive language towards a politician and in this case a woman
Ironically his private remark may just have rebounded on him in a way he did not foresee
What's your solution by the way? Presumably making nasty jokes about politicians should be treated as a Hate Crime.
There are some who are genuinely wanting to legislate on this, especially in the labour party.
I am not one of them or in the labour party
My word. Agreeing twice!!!! Contempt for such utterances is, IMHO, better than resorting to law!
Lets try to make it a hat trick
Sorry; after posting my last post I went off to finish (37 out of 37) radiotherapy appointments at the local hospital. Dropped in to have a look at lunch, and now I’m off to a U3a group this afternoon, so there’ll probably be a new thread by the time I get back to the computer
Very happy that that's over OKC! I hope you go on to have many and liquid lunches in future.
The last cut was a mistake and should be reversed soonest. We want to get to 1% within 6 months or so but gradually. The distortions caused by excessively low interest rates have long since stopped being helpful to the economy.
The distortions themselves were never helpful. They may have been a necessary cost of QE, but they may also have been more damaging than QE was helpful. The increase in asset values for those with property and paper assets will reverberate politically for years.
There is an argument that in the short term very low interest rates brings forward consumption, discourages saving, helps those struggling with debt and makes it easier for the government to run a large deficit (ahem) all increasing demand. The combination of recession and high interest rates in the early 80s was devastating to large sections of UK manufacturing and when combined with a petro-driven pound caused us to lose more of our base than we should have.
In the medium term it results in excessively high house and other asset prices, a huge switch of wealth to the already rich at the cost of the poor, the devastation of pensions and excess consumption rather than investment. We passed into the medium term some years ago now.
The raising of interest rates does hurt asset values but it is those who have debt that struggle most. Typically these are companies but at the moment it is the Government and individuals who borrow most. The rich are not borrowing a lot.
The squeeze on consumption continues. As explained on this website before it will take time for the economy to grow production as the asset base is too small. Thus to balance the books we will need to spend less. This would have happened without Brexit but short term Brexit is adding costs to the economy and slowing down investment which will result in a greater fall in consumption than was planned. The bonus from not paying the EC money will be small in comparison and may not be cashflow positive for many years.
I expect even increasing numbers of Brits are moving towards internment
The public usually overreact because the public is usually unaware of the likely consequences of the policies they advocate. Leaders should know better.
That's the same argument we heard about the EU for years, of course.
I'd argue it's incumbent upon leaders to respectfully explain the advantages and disadvantages of policy options to the public, preferably in contested debate.
I'd agree with that but if you measure opinion at the start of any such process then you will pick up the knee-jerk reaction.
And in what is usually a parliamentary democracy, it is the MPs (and particularly the front benchers) whose job it is in the first instance to know the practical limits of policy. The public need to be brought along but it's not essential to retain support on everything all the time.
It's a two-way process.
MPs need to both faithfully represent and reflect the full spectrum of public opinion, and to also interpret and lead it. They need to know when it is time to tack from one to the other - by reading the runes of polls, elections, lobbying and constituent contact - to come up with policy solutions that work.
Lopsided either way leads to knee-jerk tyranny of the majority on the one side, or arrogant establishment self-interested rule of technocrats on the other - both ultimately fail.
The sisterhood have got it in for him judging by women's hour on r4. Including Isabel hardman, so not just the spartists. I thought it was funny and not actually"gendered" at all. But it's getting a short term laugh at the expense of long term damage. Placing a whoopee cushion on the throne at the next coronation would similarly be both very funny, and ill advised.
A free British citizen being hounded by self-styled moral arbiters for a joke he made in private? I'm expecting a full-page polemic against it by Brendan O'Neill!
Ever since Jo Cox murder, the heightened abuse against politicians and the debate in Parliament yesterday, George's comments were very badly timed as they fit into both categories, abusive language towards a politician and in this case a woman
Ironically his private remark may just have rebounded on him in a way he did not foresee
What's your solution by the way? Presumably making nasty jokes about politicians should be treated as a Hate Crime.
There are some who are genuinely wanting to legislate on this, especially in the labour party.
I am not one of them or in the labour party
My word. Agreeing twice!!!! Contempt for such utterances is, IMHO, better than resorting to law!
Lets try to make it a hat trick
Sorry; after posting my last post I went off to finish (37 out of 37) radiotherapy appointments at the local hospital. Dropped in to have a look at lunch, and now I’m off to a U3a group this afternoon, so there’ll probably be a new thread by the time I get back to the computer
Very happy that that's over OKC! I hope you go on to have many and liquid lunches in future.
Thanks. Leisurely lunch, probably with added liquid, planned at excellent local brasserie tomorrow.
I expect even increasing numbers of Brits are moving towards internment
The public usually overreact because the public is usually unaware of the likely consequences of the policies they advocate. Leaders should know better.
That's the same argument we heard about the EU for years, of course.
I'd argue it's incumbent upon leaders to respectfully explain the advantages and disadvantages of policy options to the public, preferably in contested debate.
I'd agree with that but if you measure opinion at the start of any such process then you will pick up the knee-jerk reaction.
And in what is usually a parliamentary democracy, it is the MPs (and particularly the front benchers) whose job it is in the first instance to know the practical limits of policy. The public need to be brought along but it's not essential to retain support on everything all the time.
It's a two-way process.
MPs need to both faithfully represent and reflect the full spectrum of public opinion, and to also interpret and lead it. They need to know when it is time to tack from one to the other - by reading the runes of polls, elections, lobbying and constituent contact - to come up with policy solutions that work.
Lopsided either way leads to knee-jerk tyranny of the majority on the one side, or arrogant establishment self-interested rule of technocrats on the other - both ultimately fail.
Yes, I'd agree with that. MPs can't simply ignore the public and there should be voices advocating policies the front benchers will disagree with, both because sometimes the public is right when the establishment isn't, and also because these views and voices need to be heard even when they are wrong (indeed, arguably, especially when they're wrong because that's when the government has to explain *why* they're wrong).
Device had a timer - looks as if it could have been a much bigger disaster if it had gone off underground
The District line would be a pretty dumb target in that case. It's largely above ground, and the bits that are underground aren't like the victoria/northern line.
What does seem to have been fortunate is that it has partially gone off when the train was either stationary or pretty close to it allowing the doors to be opened very quickly and allowing people to escape. I will be quite surprised if this was left much more than the previous station by the bomber. There would be too much risk of it being identified or queried.
Parsons Green is just after Putney Bridge. I wonder if the bomb was intended to go off whilst the train was crossing the river.
Had wondered if the intention was to set it off, once it left the overground section.
Device had a timer - looks as if it could have been a much bigger disaster if it had gone off underground
The District line would be a pretty dumb target in that case. It's largely above ground, and the bits that are underground aren't like the victoria/northern line.
What does seem to have been fortunate is that it has partially gone off when the train was either stationary or pretty close to it allowing the doors to be opened very quickly and allowing people to escape. I will be quite surprised if this was left much more than the previous station by the bomber. There would be too much risk of it being identified or queried.
Parsons Green is just after Putney Bridge. I wonder if the bomb was intended to go off whilst the train was crossing the river.
Had wondered if the intention was to set it off, once it left the overground section.
The more precise the intention, the more complicated the device. These guys are still on the learning curve. This was a new MO and it will take some time (luckily) for them to get it right if they decide to continue with such a method.
Exactly which part of the track to detonate the device will have come a long way down the list, with "detonate it and not be there at the same time" being Number One.
Two further observations:
1. not a suicide attempt - does that betoken a lack of recruits. 2. Everyone saying only five stations to look at, ignoring that the bomber could have arrived by train from anywhere.
At a brief glance, I'd guess the value is likely to be at the tails of the bell curve. Best bet is combining 0, 1-10 & 71 or more @ total odds of ~10/3.
Given that PP aren't interested in my business, I can't be arsed to check his twitter to do any more detailed analysis. So I could be wrong.
Comments
The last cut was a mistake and should be reversed soonest. We want to get to 1% within 6 months or so but gradually. The distortions caused by excessively low interest rates have long since stopped being helpful to the economy.
There does seem to be noises coming from business both in the UK and Europe for both sides to get on with trade talks and avoid tariffs.
If Theresa May's Florence speech does indeed light the negotiations in Europe then the pound may well have more in the upside then down
When the f are the GOP going to get rid of this guy who is such a risk to the Republic.
In a related but separate development, it emerged on Thursday that Red Bull are set to split with Renault at the end of 2018, after the French car company told them they would not be extending their contract, after years of antagonism between the two partners.
Red Bull were very unfair towards Renault a couple of seasons ago. McLaren have been Zen Buddhists by comparison, yet with greater cause for resentment.
https://www.theguardian.com/world/2017/sep/15/el-helicoide-venezuela-caracas-building-symbol#img-7
(That's if any of us survive his term to write any history books).
He's been busy all morning by looks of his stream.
It’s a balancing act and all too easy to trip over your forelock as you tug it.
Sometimes it’s James Dornan, the Glasgow Grunter, who confronts diction like a baboon wrestling a trombone. There are a series of howls strung together by the occasional caw of ‘Westminster’ and since no one can decipher the cacophony the First Minister can talk about a topic of her choosing.
https://stephendaisley.com/2017/09/15/nicola-sturgeon-takes-brexit-myth-out-for-a-spin/
Anyway, must be off.
ISTR that the earliest bit of the underground, the Metropolitan line through Kings Cross to ?Farringdon?, was built to broad gauge standards so GWR trains could also operate though it (it had three rails; one set a standard gauge, and a third rail at broad gauge. I wonder if this means that those sections of tunnel are roomier than later sections?
In the medium term it results in excessively high house and other asset prices, a huge switch of wealth to the already rich at the cost of the poor, the devastation of pensions and excess consumption rather than investment. We passed into the medium term some years ago now.
I'd argue it's incumbent upon leaders to respectfully explain the advantages and disadvantages of policy options to the public, preferably in contested debate.
http://www.telegraph.co.uk/news/2016/06/05/boris-johnson-british-taxpayers-will-be-hit-with-a-shock-24billi/
And in what is usually a parliamentary democracy, it is the MPs (and particularly the front benchers) whose job it is in the first instance to know the practical limits of policy. The public need to be brought along but it's not essential to retain support on everything all the time.
It is difficult to deny, much as I might like to, that this is a Corbyn bounce. England’s unfathomable flirtation with the most obnoxious leader in Labour’s history has extended north of the border. June’s election was no fluke; Labour is growing again in Scotland.
https://stephendaisley.com/2017/09/15/notes-on-the-scottish-daily-mail-poll/
Besides is your argument that the EU is so fiscally incontinent that we should have stayed in?
The squeeze on consumption continues. As explained on this website before it will take time for the economy to grow production as the asset base is too small. Thus to balance the books we will need to spend less. This would have happened without Brexit but short term Brexit is adding costs to the economy and slowing down investment which will result in a greater fall in consumption than was planned. The bonus from not paying the EC money will be small in comparison and may not be cashflow positive for many years.
MPs need to both faithfully represent and reflect the full spectrum of public opinion, and to also interpret and lead it. They need to know when it is time to tack from one to the other - by reading the runes of polls, elections, lobbying and constituent contact - to come up with policy solutions that work.
Lopsided either way leads to knee-jerk tyranny of the majority on the one side, or arrogant establishment self-interested rule of technocrats on the other - both ultimately fail.
http://www.itv.com/news/westcountry/2017-09-15/failure-in-the-system-left-200-plymouth-residents-unable-to-vote-in-general-election/
Report on Plymouth City Council's electoral failings.
Exactly which part of the track to detonate the device will have come a long way down the list, with "detonate it and not be there at the same time" being Number One.
Two further observations:
1. not a suicide attempt - does that betoken a lack of recruits.
2. Everyone saying only five stations to look at, ignoring that the bomber could have arrived by train from anywhere.
NEW THREAD
Given that PP aren't interested in my business, I can't be arsed to check his twitter to do any more detailed analysis. So I could be wrong.