Member Info for Taverham

Big political problem , when people can't pay their mortgages , is it their fault [ not in this day and age] is it the fault of the bank of england [ cant be - they are raising rates in response to greedy workers and companies], is it the fault of the government [ cant be they just pumped billions into the economy to help out] , no clearly it is the banks who are making profits. So lets hammer them and in readiness we will prime the press to run stories on fat cat bosses and excess shareholder returns!

Another profit warning - not good - cash position is comforting however.

Fleccy, it will be at a level where only investors suffer , they hit the builders and the oil and gas sector - banks next.

Herein lies the problem - the interest rake hikes are not inflicting pain evenly , infact confined to a small minority[ a portion of the mortgagees] who will suffer hugely. That means the economy will not slow sufficiently until the base rate is way above current levels - well north of 6% imv. We shall see how this plays out - it will be a long process imv.

One further point I noticed was the interest recieved and with the bank rate rising that is another positive for the year ahead.

John , the market needs to read the statement to se what this year and beyond holds in terms of growth rather than a focus on a slipped payment , which held back last year imv.

Added£4k - bargain at £6 imv.

Expected to rise today on account of huge order book. Shame the Ukrainians have not paid for and taken delivery of their guns but encouraging comments from Mr Bell. Further order great news and other divisions doing well. Good prospects here and will add should there be any weakness into the future.

Pleased the GS has gone - imv it was almost irrelevant as MM has such a large holding but the optics are important to ii's.

The bad news is that she won't burn in hell - satan is also not allowed to drill for gas!

Just topped up as the market likes companies with global footprints.

Any talk of a rival bidder emerging?

Gove on the BBC this am more or less said' we have a watching brief on the mortagage market and peoples troubles' , hance they primed the daily mail to get us all angry with the banks[ did same with oil companies last year and builders the year before] so that a windfall tax and mortgage subsidies at shareholder expens seems justified. I can see it coming like a bus.

Bod, the line 'remainers in BJ's government was a joke because a previous poster had blamed remainers at the bank of england and i was making the point that BJ was actually responsible for our current financial mess.

Oh and BTW my heart said vote leave but i went with my head and voted remain fwiw.

Skier, UK inflation has been caused by the bitter 'Remainer fanatics' at the top of Boris Johnson's government. They pumped billions into the economy causing the overheating we are now suffering from , food inflation and brexit is only a small part of the problem. A bigger contributer is energy costs which can be traced back to Tony Blair and successive governments who have punished the north sea players and lumbered us all with costly green initiatives, useless smart meters and numerous other costs whilst making us dependent on imports imv. The B of E have not helped - asleep at the wheel.

Lots of debate here previously about brexit and read this just now;

Brexit has accounted for about a third of the increase in food bills for households since 2019, equivalent to about 250 pounds ($318), researchers from the London School of Economics and other universities said last month.

Which translates to higher interest rates and all that unfolds from there.

Here's a thing to think about , our inflation rate measured by rpi is only a couple of percent lower than Ukraines and their bank rate is......

25%.

The irony of this is Bojos noteriety and hence his speaking fees have now risen considerably- he will likely send the committee all a big hamper at Christmas.

Cake and Pork Pies!

Stagecoach, I disagree - the B of E need to accelerate the rate increases if they want to control inflation and bring it down to 2%. There is still too much demand in the economy driving up prices [ tried to get a sensible quote from a builder?] and the answer to that is higher taxes [ hunt is doing his bit] or higher interest rates sucking money out of circulation. Because the B of E have been so timid they will make the interest rates required now higher and they cannot keep making that mistake. Bailey should be sacked - it was obvious months ago what was needed and is still obvious imv.