Tuesday, November 10, 2015

A weaker global growth outlook and renewed falls in commodity prices could keep interest rates on hold until at least the end of 2016, the Bank of England has signalled.  Bank policymakers kept interest rates at a record low in November, as policymakers voted 8-1 in favour of maintaining Bank Rate at 0.5pc, with Ian McCafferty, an external policymaker, the only dissenter.  Low rates will lead to increasing pension deficits, putting companies solvency at risk. When it comes to it, to save the corporates, government will put through policies to to allow funds to default on their pension obligations. So ZIRP and QE may lead to your pension being hammered...How is it that I, an indifferently-educated prole in flyover country USA, have bested the esteemed DT economic correspondents 100% of the time in predicting the actions of the Fed, BoE, etc.? Could it perchance be due to the fact the hapless DT reporters have become stenographers for the banksters, whereas any thinking person can see exactly what game is being played here?...it is important to note that even in the Great Depression interest rates were never lowered to this absurd level, in effect having been negative for 7 years; that is what shows that in reality we are now in a much greater Depression than the so-called Great Depression, and other than tinker around the edges (actually making things worse) they have no idea what to do to address the problems they have now created....Central banks are the Oligopoly's chief instruments of plunder against the 99%. The banksters have no more efficient means of larceny at their disposal than ZIRP (soon to be NIRP) and QE-to-Infinity. Hence these policies will be maintained until some exogenous factor, i.e. "investors" balking at buying debt that is going to be printed away, forces the hand of the ECB, Fed, BoE, etc., despite the incessant jawboning to the contrary by Draghi, Yellen, Carney and their ilk, or the corporatist media.

No comments: