Pakka - completely agree. It's been less than 6 months and Yellen already has her fervent detractors.
With so many variables and contributory factors, both domestic and foreign, it's practically an impossible job. No individual would be able to get it all right all of the time, whilst simultaneously pleasing everyone across the political spectrum. As they say "Economics is the only field in which two people can receive a Nobel Prize for saying exactly the opposite thing."
Carney's entire reputation is at stake with this job so he'll do all he can to weather the storm successfully. If that means saying one thing but then having to backtrack in the light of new information, so be it.
Re: "HMG probably liking a boom" - I think only once since 1926 has a U.S. stock market closed lower in an election year. I don't know if it's quite as black and white with our election years but I'd like to think there would be some correlation.
The market didn't like the IPO in the first place, hence the stock dropping on Monday. Now LLOY has decided to offload another 3.5% this morning bringing the TSB offload to almost 40%! Markets are grumpy with the black horse. There are no skeletons left in LLOY closet. The cupboard is now bare.
No reason for the stock suspended as it is but the time will come when a seemingly innocuous trigger will catapult this SP into the high 80's or even low 90's methinks. Let's hope it is sooner rather than later, eh [Before the global stock market crashes down around us - as expected]. I need to withdraw from this tired and battered stock and get on with my life, spending the spondoolies!!!
The market do not like LLOY parting with TSB, do they! The initial IPO sent LLOY into a spiral and today LLOY have sold another 3.5% off - the market is very grumpy with the black horse. Definitely no more skeletons in this closet. She is all bare! The SP is firmly in the grip of stasis. Nothing or no-one can move it along. Something innocuous will though, one day - something completely inane will spur this, or rather propel this madly fwd, well into the late 80's and even the low 90's. Let's hope it is sooner rather than later eh? Perhaps it will be the half yearly (H1).
IMHO Mark Carney has been hired to put our (UK) economy on a firm footing.Obviously it is not an easy job, no wonder he seems comes across a bit inconsistent. Officials in similar key positions in the USA also seem to do the same thing. IMHO HMG probably likes a boom and a feel good factor before the next election but also fears the bubble bursting and a hard landing!! GLA
My take on ISIS terror forces is that they missed out on the wonderful T.S.B. ipo like a bear with a sore head they have kicked off. Blame the so called experts not this tribal rubbish we hear about. Christ only knows what will happen when they find out it wont be an England Spain cup final.
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