Bank of England fights Brexit slowdown with stimulus

[dick dasterdly]

On 8/6/2016 at 11:09 AM, bkkcanuck8 said:

Where does the "create money by themselves" take place? 

 

I understand the basics above - which is limited by regulator capital requirements.... but the above calculation has no "created money by themselves". 

 

I am having a hard time understanding what you are saying.  What numbers are just typed in to become IOUs?  The simple model (before securitization) is that you have to take in deposits and fixed deposits (cheap cash) at a certain interest rate; or make it up by borrowing cash from another financial institution that has excess (or lend it out if you have excess) - then turn around and loan it out at a higher rate of interest (usually backed by security of some sort - valued at more than the loan - and in the case of Canada the mortgage must be insured.... most commonly by a Crown corporation that covers 20% I believe).   Obviously even this simple model will be under stress during severe economic downturns, which is why the financial regulators require that the institution is limited by the capitalization of the institution so that they can withstand the downturns.

Interesting conversation (although I've not figured out how to quote both posts) of which I'd like to hear more.

[dick dasterdly]

21 hours ago, Grouse said:

 

You won because there are more of you! Well, what a revolutionary idea!

 

of course you won because there are more of you! It doesn't make you right or any better informed!

 

Frankly, the fact that you are the majority frightens me. The country is turning into a distopian nightmare. 

 

Real damage is happening NOW in exchange for some unquantified, unspecified future benefit in 2 to 4 years time.

 

Ridiculous.....

 

Forgive them for they know not what they have done

Always 'interesting' to read a poster's comment veering away from the interesting conversation happening previously....

 

Not to worry though, you can always rely on the uneducated, stupid comments on which you rely - to take the thread away from intelligent posts.

[dick dasterdly]

13 hours ago, Berty100 said:

 

The EU may eventually fail if some more selfish nations decide to get out, because their population doesn't have the brains to look beyond the idea of the union and are only interested in direct benefits.

 

 

Kind of agree.  But that is down to the EU to stop concentrating on empire building and their own salaries/pensions.

 

Until they realise that EU country populations are far from happy with many things about the EU - its doomed to fall apart now or later.

[Khun Han]

2 hours ago, Grouse said:

 

Not at all surprised that 49% of UK respondents said they were disappointed.

 

The fools got what they wanted

 

They outnumber the wise

 

That is one of the most worrying things.

 

Of course Russia welcomed it. What did you expect.

 

Several negatives are happening now. Has anything positive occurred?

 

48% of voters in the referendum voted to remain, and 49% of respondents to the latest poll expressed disappointment with the decision to leave, figures that confirm the referendum result. And these figures also confirm that people who voted to leave have not changed their minds.

 

So who are all these people we keep hearing about in anecdotes who've changed their minds? I suspect most of them only exist in Project Fear campaigners and supporters imaginations.

[Khun Han]

14 hours ago, Berty100 said:

 

The EU may eventually fail if some more selfish nations decide to get out, because their population doesn't have the brains to look beyond the idea of the union and are only interested in direct benefits.

 

 

 

On the contrary, brexiters have looked at where the union is headed and they don't like what they see.

[Grouse]

4 hours ago, dick dasterdly said:

Always 'interesting' to read a poster's comment veering away from the interesting conversation happening previously....

 

Not to worry though, you can always rely on the uneducated, stupid comments on which you rely - to take the thread away from intelligent posts.

 

Was as the thread not about BoE wading in to provide support post Brexit?

 

Sorry if I interrupted the Idiots Guide to Banking ?

[Grouse]

2 hours ago, ourmanflint said:

 

I think you'll find in a few years you will be shaking the hands of Brexiteers and saying " Thank you I really didn't have a f**king clue about anything it turns out"

 

 

 

I do hope you're right

 

I wouldn't bet on it

 

NOTHING positive so far.....

 

only serious negatives.

[thaibeachlovers]

On 8/5/2016 at 7:08 PM, Grouse said:

 

No, the great unwashed wanted to rebel. Felt down trodden.

 

Encouraged by fraudsters (who have since run off) they voted to leave the EU.

 

I suspect many regret that and many more will follow.

 

Too late now

 

Well done Brexiteers! Great job!

 

 

I disagree. The EU is an evil one world scam and Britain did the right thing by getting out of it. What exactly did the EU do to benefit Britain anyway? Make them only eat straight bananas?

I prefer Farage to any pro EU commentator. The EU government is completely corrupt.

[Grouse]

17 hours ago, thaibeachlovers said:

I disagree. The EU is an evil one world scam and Britain did the right thing by getting out of it. What exactly did the EU do to benefit Britain anyway? Make them only eat straight bananas?

I prefer Farage to any pro EU commentator. The EU government is completely corrupt.

 

You just demonstrate your lack of knowledge and education

 

you and your kind won. No question of that

 

Now WE will have to dig us out

 

you really want a list along the lines of "What did the Romans ever do for us"?

 

It would be a very long list.

 

Not my problem that you know nothing now is it?

 

As for being pro Farage, I am amazed that anyone would admit that. The man was a <deleted>! He got what he wanted and then ran off before it was obvious that he was an idiot who knew very little and could contribute even less.

 

Do amuse us. What is your background? 

 

I've given my background previously.....

[Grouse]

Just watched Newsnight on BBC

 

It was about hate crime in UK post brexit

 

HORRIFYING

 

I was touched by a Lithuanian woman's story and also by what some Polish kids had to say!

 

This IS NOT MY COUNTRY anymore.......

 

What does the UK underclass want? Kristallnacht?

 

I'll bet most could not point to Lithuania on a map! Let alone name the capital!

 

The kids were scared and probably scarred.

 

SHAMEFUL

 

This is of course off topic but worthy of a thread I think

 

One contributor asked what the EU had done for us?

 

Let's start with common decency and civilised behaviour.

 

Glad I have another passport.........

 

 

Edited August 7, 2016 by Grouse
gramatical correction

[MissAndry]

2 minutes ago, Grouse said:

Just watched Newsnight on BBC

It was about hate crime in UK post brexit

HORRIFYING

I was touched by a Lithuanian woman's story and also by what some Polish kids had to say!

This IS NOT MY COUNTRY anymore.......

What does the UK underclass want? Kristallnacht?

I'll bet most could not point to Lithuania on a map! Let alone name the capital!

The kids were scared and probably scarred.

SHAMEFUL

This is of course off topic but worthy of a thread I think

One contributor asked what the EU had done for us?

Let's start with common decency and civilised behaviour.

Glad I have another passport.........

 

 

If they don't like the UK any more, they could always GO HOME!

[Berty100]

1 hour ago, MissAndry said:

 

If they don't like the UK any more, they could always GO HOME!

 

 

Remember where you are before you make such a narrow minded statement next time.

[lungbing]

The difference is that we contribute to the Thai economy.  Why should the UK taxpayer educate Polish kids, or indeed send them child benefit when they have never set foot in the UK.

[Agent Sumo]

3 minutes ago, lungbing said:

The difference is that we contribute to the Thai economy.  Why should the UK taxpayer educate Polish kids, or indeed send them child benefit when they have never set foot in the UK.

 

How? 5000 baht on cheap, plastic Chinese-made crap at the BigC and strapping on a nosebag at the local Tesco Lotus foodhall every afternoon?

 

Don't make me laugh

 

Poles in Britain work like packhorses.

 

They've made a solid contribution, pay their taxes - a damn sight more than the average British loser rocking up here on a pension that loses more and more value against the baht each year

[Agent Sumo]

3 minutes ago, lungbing said:

The difference is that we contribute to the Thai economy.  Why should the UK taxpayer educate Polish kids, or indeed send them child benefit when they have never set foot in the UK.

 

How? 5000 baht on cheap, plastic Chinese-made crap at the BigC and strapping on a nosebag at the local Tesco Lotus foodhall every afternoon?

 

Don't make me laugh

 

Poles in Britain work like packhorses.

 

They've made a solid contribution, pay their taxes - a damn sight more than the average British loser rocking up here on a pension that loses more and more value against the baht each year

[MissAndry]

10 hours ago, Berty100 said:

Remember where you are before you make such a narrow minded statement next time.

 

If I didn't like it here, I would most certainly GO HOME.

[MissAndry]

10 hours ago, Agent Sumo said:

They've made a solid contribution, pay their taxes - a damn sight more than the average British loser rocking up here on a pension that loses more and more value against the baht each year

 

Most English people pay tax on their English pension. Where I choose to spend my retirement pension is up to me.

How much tax do you pay to your home country?

[chiang mai]

10 hours ago, Agent Sumo said:

 

How? 5000 baht on cheap, plastic Chinese-made crap at the BigC and strapping on a nosebag at the local Tesco Lotus foodhall every afternoon?

 

Don't make me laugh

 

Poles in Britain work like packhorses.

 

They've made a solid contribution, pay their taxes - a damn sight more than the average British loser rocking up here on a pension that loses more and more value against the baht each year

 

Every unmarried expat who lives in Thailand is required to show 800k in the bank each year, most will spend that much each year also. All goods in Thailand are taxable at 7%, 7% of 800k is 56,000 which is 5,000 baht, roughly half the average monthly wage in Thailand. Purchases of cars, condo's, flights, houses etc probably bring the number closer to the average wage. Note: even pensioners here do those things!

[Grouse]

14 hours ago, MissAndry said:

 

If they don't like the UK any more, they could always GO HOME!

 

14 hours ago, MissAndry said:

 

If they don't like the UK any more, they could always GO HOME!

 

Truely appalling comment

 

you should be ashamed

 

uncivilised

[Grouse]

Who cares about the damn money?

 

The Brexiteers won

 

Do we now need to stoop lower and make woman and children from other European countries feel afraid?

 

What kind of people are you? Uncivilised certainly.

[Agent Sumo]

3 hours ago, chiang mai said:

 

Every unmarried expat who lives in Thailand is required to show 800k in the bank each year, most will spend that much each year also. All goods in Thailand are taxable at 7%, 7% of 800k is 56,000 which is 5,000 baht, roughly half the average monthly wage in Thailand. Purchases of cars, condo's, flights, houses etc probably bring the number closer to the average wage. Note: even pensioners here do those things!

 

Sorry, but what the hell do you think 800K baht is? It's a piffling amount, yet many foreign pensioners in Thailand have a great deal of hardship coming up with it - why else do you think there are so many agents offering services to help the over-50s "qualify" for retirement visas?  

 

Why do you think every niche Brit pub offers 99 baht breakfast or lunch specials if not to ease the financial burden on cash-strapped pensioners who'd otherwise be unable to have a little taste of home. 

 

You're deluding yourself if you believe that "most" pensioners here are spending 800k a year. There are pensioners in Pattaya and Bangkok living in shitty fan rooms for 3K a month and living off 30 baht food hall meals month in, month out.

 

Stop making out you and your demographic are some sort of big-spenders in Thailand because you're not. 

 

 

[Agent Sumo]

3 hours ago, MissAndry said:

 

Most English people pay tax on their English pension. Where I choose to spend my retirement pension is up to me.

How much tax do you pay to your home country?

 

I pay F.A. tax in my home country because my income isn't taxable - for now. That said, when I worked in the UK, I routinely pulled down paydays in excess of GBP20k after income tax at 40%. I certainly don't think my country owes me anything, though unlike some of the carpers on here 

[metisdead]

Posts and replies of a profane nature have been removed:

 

8) You will not post disruptive or inflammatory messages, vulgarities, obscenities or profanities.

[chiang mai]

1 hour ago, Agent Sumo said:

 

Sorry, but what the hell do you think 800K baht is? It's a piffling amount, yet many foreign pensioners in Thailand have a great deal of hardship coming up with it - why else do you think there are so many agents offering services to help the over-50s "qualify" for retirement visas?  

 

Why do you think every niche Brit pub offers 99 baht breakfast or lunch specials if not to ease the financial burden on cash-strapped pensioners who'd otherwise be unable to have a little taste of home. 

 

You're deluding yourself if you believe that "most" pensioners here are spending 800k a year. There are pensioners in Pattaya and Bangkok living in shitty fan rooms for 3K a month and living off 30 baht food hall meals month in, month out.

 

Stop making out you and your demographic are some sort of big-spenders in Thailand because you're not. 

 

 

 

The point I was making is that the average expat pays more in tax each year than the average Thai employee earns!

 

And regardless of the expats you see in Pattaya who live as you describe, the majority in Thailand spend their 800k baht and many spend much more. I certainly spend over a million baht a year here as do most of the other westerners I know around me, not that that is a huge amount by western standards but it is by Thai national standards.

[dick dasterdly]

22 minutes ago, chiang mai said:

 

The point I was making is that the average expat pays more in tax each year than the average Thai employee earns!

 

And regardless of the expats you see in Pattaya who live as you describe, the majority in Thailand spend their 800k baht and many spend much more. I certainly spend over a million baht a year here as do most of the other westerners I know around me, not that that is a huge amount by western standards but it is by Thai national standards.

But the odd million bht per year is nothing - according to  Agent Sumo who tells us he is extremely rich and (presumably) spends far more.

 

There is no way to respond to such arrogant posts boasting their own wealth .

[Agent Sumo]

21 minutes ago, dick dasterdly said:

But the odd million bht per year is nothing - according to  Agent Sumo who tells us he is extremely rich and (presumably) spends far more.

 

There is no way to respond to such arrogant posts boasting their own wealth .

 

Excuse me, but where did I say I was rich?

 

My point was that a particularly deluded poster imagined that the contribution he makes to the Thai economy is somehow greater than the contribution Poles working in the UK make to the British economy.

 

I'm reasonably comfortable and I spend more than the sums chiang mai mentioned but do I think I'm better than the locals; do I think I'm better than the Poles back in the UK?? Hell, no.

 

I just don't like it when self-important berks who'd be on the bones of their arsses back in the UK think that a flight and a rapidly-dwindling exchange rate advantage makes them better than others 

[Grouse]

This is all way off topic!

 

my view was that short term action by BoE was justified because of short term damage v long term unquantified benefits

 

I posted later explaining my DISGUST at how common hate crimes against European women and children have become! ( I'm really incensed by this)

 

Where did we get to banking 101

 

OR, how much expats need in Thailand?

 

No wonder I'm reduced to *^%#}{'b!