Mervyn King warns against 'premature' interest rate rises

[SantaClaus]

The United Kingdom National Debt Clock 2013 Counter >> nationaldebtclock.co.uk

The UK is fecked. No amount of interest rates rises is going to fix it. All the politicians can do is keep kicking the can down the road, which is what they are doing, to protect their jobs in the short term.

[scooterscot]

The United Kingdom National Debt Clock 2013 Counter >> nationaldebtclock.co.uk

The UK is fecked. No amount of interest rates rises is going to fix it.

If rates jumped to 4% tomorrow the pain would be short and sharp, the correction complete. Instead is like constant blood transfusions to a warm up corpse.

Perhaps had the rules of capitalism been followed, the banks would have been allowed to collapse, the correction would have occurred long before now.

Rates will go up at some point, and it's not going to be a choice for BoE, but an instruction from outside forces over which they have no control. Perhaps trigger will be bond holders demanding more interest...

The pound really needs to crash, parity with the euro would be a good start.

[scooterscot]

The United Kingdom National Debt Clock 2013 Counter >> nationaldebtclock.co.uk

This is prettier

UK National Debt Clock - No-nonsense Guide to Britain's Debt Crisis

[AtW]

Perhaps trigger will be bond holders demanding more interest...

They can't because BoE would just buy bonds if they would not - £3.8 bln last month alone, in annual terms - £45 bln, that's two HS2 lines and that's just in one year.

Or in other words - last month alone BoE printed enough money to pay council tax for every household in the country.

[SantaClaus]

If rates jumped to 4% tomorrow the pain would be short and sharp, the correction complete. Instead is like constant blood transfusions to a warm up corpse.

Perhaps had the rules of capitalism been followed, the banks would have been allowed to collapse, the correction would have occurred long before now.

Rates will go up at some point, and it's not going to be a choice for BoE, but an instruction from outside forces over which they have no control. Perhaps trigger will be bond holders demanding more interest...

The pound really needs to crash, parity with the euro would be a good start.

The problem is this country's wealth is built on property. I don't think it will be a short sharp shock... more like a complete meltdown.

[scooterscot]

They can't because BoE would just buy bonds if they would not - £3.8 bln last month alone, in annual terms - £45 bln, that's two HS2 lines and that's just in one year.

They just can't keep printing money until better times arrive. That's passing the buck onto future generations... that's not moral.

If I still had investments in stirling, I'd be nervous.

[AtW]

They just can't keep printing money until better times arrive.

They've come to conclusion that they'll take their chances, and why not - Sir Mervs pension pot is like £5-6 mln!!!

[doodab]

that's not moral.

That hardly rules it out

[AtW]

That hardly rules it out

Even makes it more attractive...

[shaunbhoy]

Personally I do not pay into any pension fund

That kind of thinking will have you living in a bedsit, driving a clapped-out Pug, and ensuring that your sex life is held entirely in your own hands.
One life alexei...............try living it.
You might be pleasantly surprised.

HTH