Author Topic: Bank of England warns of risk to financial security  (Read 464 times)

Kaitsu

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Re: Bank of England warns of risk to financial security
« Reply #15 on: October 13, 2022, 11:22:04 AM »
I find it frustrating that in a 2 party system, when we get into the last 2 years of the incumbent partys term, policies are often dictated as much by the one eye on the upcoming election and what they think is needed to buy votes as it us by what is actually best for the country.
Yes, this is truly a problem issue. But I think it is general throughout all forms of democratic societies where genuine elections are held every 4 years or so. It leads to short-termism in that no government wants to apply painful medicine upon a nation if the pain exists only during their own rule -  and then the benefits are enjoyed by the next government.

I think another problem with the two-party system is that whenever there is a change of party in power they can easily start to undo and reverse whatever the previous government put in place. In the US this is visible in immigration and environmental issues...

It is a great benefit to countries like Russia and China that their leaders can have such long-term plans without fear of adverse public opinion or opposition parties. But the "benefits" of such dictatorial systems are clearly apparent and only benefit the few at the cost of the many.
Ships are safe in harbour - but that is not what ships are for....

eddieb

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Re: Bank of England warns of risk to financial security
« Reply #16 on: October 13, 2022, 11:39:08 AM »
only benefit the few at the cost of the many
That doesnt sound so different to the UK/US. Money (and power/privilege) only ever seems to move in one direction. By almost any metric we care to look at, the top 1% are better off than they were 10, 20, 30 years ago, despite promises (usually from the Democrats/Labour Party) to spread the wealth more fairly.
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Peterma

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Re: Bank of England warns of risk to financial security
« Reply #17 on: October 13, 2022, 12:02:08 PM »
Aye, so far so good - the big question is what happens after Friday.

I'm keeping an eye on the 10yr - the down arrow was day before the mini budget - most details leaked to press by then (as they usually do)

Hmmm... interesting that there are buyers out there - wonder has there been a leak - will we have Turnaround Friday instead of Turnaround Tuesday?

Who says the markets are boring :)

More serious note, UK house purchases are down in the past month and forecast to continue that path - mortgages.

Locally phase 2 of a large housing development has been re-scheduled this morning - put back to next Feb, the contractor has gone from hiring to lay-offs in the space of 24 hours.

Peterma

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Re: Bank of England warns of risk to financial security
« Reply #18 on: October 13, 2022, 12:03:18 PM »
Cannot seem to find the edit button - forgot the chart of 10yr:


eddieb

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Re: Bank of England warns of risk to financial security
« Reply #19 on: October 13, 2022, 02:43:42 PM »
Hi Peter,
its top right of your post 'Modify'
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Kaitsu

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Re: Bank of England warns of risk to financial security
« Reply #20 on: October 13, 2022, 02:58:13 PM »
That doesnt sound so different to the UK/US. Money (and power/privilege) only ever seems to move in one direction. By almost any metric we care to look at, the top 1% are better off than they were 10, 20, 30 years ago, despite promises (usually from the Democrats/Labour Party) to spread the wealth more fairly.
This is indeed the case. But I think the gap is much larger in countries like Russia and China, for example.

But I think these "benefits" within dictatorships extend to far more than just wealth. I am sure that topics like human rights, freedom of speech, health care, etc are far worse for the majority in those political environments than in the normal western democratic models.

Ships are safe in harbour - but that is not what ships are for....

Peterma

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Re: Bank of England warns of risk to financial security
« Reply #21 on: October 14, 2022, 09:40:02 AM »
Hmmm... interesting that there are buyers out there - wonder has there been a leak - will we have Turnaround Friday instead of Turnaround Tuesday?

Turnaround Friday - the Chancellor has had to turnaround and come back to UK early for talks with the PM this morning - due around 11.00am

Meanwhile the UK 10yr (price) has continued upward.

Good news all round - so far.

Peterma

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Re: Bank of England warns of risk to financial security
« Reply #22 on: October 14, 2022, 09:47:07 AM »
Hi Peter,
its top right of your post 'Modify'
Hi Eddie,
Yeah there used to be that button but seems to have disappeared for some reason

Kaitsu

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Re: Bank of England warns of risk to financial security
« Reply #23 on: October 14, 2022, 10:11:00 AM »
Yeah there used to be that button but seems to have disappeared for some reason

I think the "modify" facility is time-related and only available for a limited period after posting - perhaps only during the same day. After that it disappears....
Ships are safe in harbour - but that is not what ships are for....

Peterma

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Re: Bank of England warns of risk to financial security
« Reply #24 on: October 14, 2022, 11:48:32 AM »
Not sure re the time element - anyways screenshot of my last post.

Btw - latest leak is that Mr Kwarteng will be sacked today - strange shenanigans if true.

eddieb

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Re: Bank of England warns of risk to financial security
« Reply #25 on: October 14, 2022, 11:49:06 AM »
Chris Mason, BBC Political editor has posted this...

"A No 10 source has said they are not commenting on reports Chancellor Kwasi Kwarteng is due to be sacked. When it was put to the source that they would normally instantly deny an inaccurate report of such significance, I was told I could "read into" what they were saying and not as I saw fit.

A Treasury source said "I have not heard that information" when I suggested the chancellor was being removed.

Kwarteng is not answering his phone."

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eddieb

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Re: Bank of England warns of risk to financial security
« Reply #26 on: October 14, 2022, 11:52:03 AM »
Yeah there used to be that button but seems to have disappeared for some reason

I think the "modify" facility is time-related and only available for a limited period after posting - perhaps only during the same day. After that it disappears....

Ive just looked at my post yesterday and the Modify button isn't available on that, so looks like it is only available for a time. Makes sense, if someone posts something it gives them time to correct typo's or add to a comment but doesn't let them change it days later without going through the admin.
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

Peterma

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Re: Bank of England warns of risk to financial security
« Reply #27 on: October 14, 2022, 03:09:04 PM »
UK 10yr is dropping fast - classic case of buy the rumour (in this case the leak) and sell the fact.

The new PM when seeking election from the Tory party members she commented that she is against Treasury "orthodoxy" - the appointment of Jeremy Hunt as new Chancellor is also a U turn insofar that Hunt was a long-time minister who backed Rishi Sunak in the 2 horse portion of the leadership contest. 

He was also a Remain advocate in the Brexit campaign - so perhaps "orthodox" is back on.

I hope he does well and brings back that long lost but keenly sought after commodity to the UK market - stability.

Now to see if this Modify button appears :)

Peterma

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Re: Bank of England warns of risk to financial security
« Reply #28 on: October 14, 2022, 03:10:48 PM »
Not sign or sight of it - I'll just have to type a little slower in future - brain, pls slow up :)

Caesar

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Re: Bank of England warns of risk to financial security
« Reply #29 on: October 14, 2022, 03:53:03 PM »
Its showing now in the top right corner- wasn't before, can't think why not unless its another hiccup from transferring hosts.
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