UK economy poised like a coiled spring, says Bank economist
12/02/2021 | news | business | 284
Andy Haldane says the UK economy will surge back this spring thanks to the vaccine programme.
1
12/02/2021 10:55:23 20 3
bbc
Coiled springs are unpredictable they could go anywhere, are the bank planning on controlling credit issued to individuals/businesses or will this be left to run rampant to cause the next big financial crash.
241
12/02/2021 15:23:12 4 0
bbc
If let off in an uncontrolled manner springs can end up oscillating wildly, expanding and contracting with little or no damping - which would suit the disaster capitalists well, I suppose - but wouldn't be much good for the rest of us.
2
12/02/2021 10:57:19 41 3
bbc
Or you might want to pay off some of these huge personal debts many seem to have.

Spending ok if you need the product or service, otherwise save it and sort out your debt...if you have any.

That way you might get a better night's sleep.
32
12/02/2021 11:25:08 24 4
bbc
I agree with those that don't think the economy will rebound as strongly as predicted.

Spending power is way down in those who were self employed and received no help. You then have people likely putting more money away incase something similar happens down the line. Yes there will be those flooding the hairdressers and pubs, but I don't think its as many as youd think
130
ML
12/02/2021 12:10:14 2 0
bbc
Agree, it's a shame though our system isn't really set up to encourage saving and the mixed messages that come through... by the time we're encouraged to save it's too late and once we start saving, we're accused of being miserly and putting people out of jobs.

Coupled with companies slashing pensions etc (when most of us are already on defined contribution) it just doens't make sense.
3
12/02/2021 11:00:21 3 3
bbc
Good news and hopefully there's more people out there with a glass half full. Things will rebound and we will enjoy the feeling, however there will be dopes out there who overspend and then blame someone else ....that's life
4
12/02/2021 11:01:02 11 8
bbc
I feel sorry for young people now - Most didn't want Brexit yet are getting lumbered with the costs of it. Now there are fewer jobs due to the tragic handling of covid and their education is being disrupted.

This is going to be the first generation in a long time to inherit things in a worse condition than their parents got it.
22
12/02/2021 11:16:17 7 6
bbc
What utter nonsence and a pathetic attempt at turning this into your own little rant about Boris. People born in the 30s/40s inherited bombs. Those in the 70's inherited unemployment and serious hardship, while we've had to stay at home and watch box sets on our 50 inch tv screens. And you complain, and complain.
Pull up your sleeve and do your bit. AND STOP MOANING!
29
12/02/2021 11:23:37 3 2
bbc
Govt response to covid a significantly bigger hit than Brexit
5
12/02/2021 11:02:01 3 5
bbc
Funny how the Chief Economist at the BoE can provide some forecasts for spring, yet Boris still can't even talk about tomorrow as it's "too soon"!

Odd that! ??
39
Ed
12/02/2021 11:28:09 0 0
bbc
Boris has been consistently wrong on every optimistic prediction he’s made. Not doing it this time is the only responsible action he’s taken during the pandemic
6
MVP
12/02/2021 11:02:51 6 4
bbc
This optimism is encouraging but we must not forget that one of the objectives of the Bank of England is to ensure faith in the UK financial system so it would be bizarre if they said anything different.
15
12/02/2021 11:09:05 1 5
bbc
Can only think of Mark Carney who told us we were useless on our own.
7
12/02/2021 11:02:55 3 1
bbc
When will Spring start to release a coiled spring?

Usually 21st March, the vernal equinox is known as the first day of Spring so I see this Spring as mid April at the earliest.
8
12/02/2021 11:03:25 8 4
bbc
So not all bad economic news then which is pleasing! It must be cos Boris has a plan (just no one knows what it is) & we'll soon be over the "bumps in the road", our teeth won't hurt & we'll be cruising at altitude enjoying G&T's galore with unlimited peanuts!

Meanwhile, in the real world.............??
14
12/02/2021 11:07:37 3 7
bbc
What's your plan Professor?
9
12/02/2021 11:03:48 4 3
bbc
The vaccine is the key to unlock the economy and unleash the coiled spring to let loose our economy and consumer confidence. We are in tough times with an economy that has shrunk nearly 10% but that is recoverable as we roll the vaccine out. We are British and we will win through.
63
12/02/2021 11:32:11 1 2
bbc
British Values! Democracy, the Rule of Law, Fair Play, Respect for others, Tolerance...

We are British!

Unfortunately the government, quite clearly, is not.
145
12/02/2021 12:16:18 0 0
bbc
Wakey wakey mr Tory
10
12/02/2021 11:05:40 5 5
bbc
Let's hope that those businesses on the brink of bankrupcy can hold on until then.
Keep those vaccines coming and feel lucky to live in Britain - others will have to wait much longer.
#okboomer Removed
142
12/02/2021 12:15:43 0 0
bbc
Wakey wakey mr Tory
144
12/02/2021 12:10:59 0 0
bbc
EU says the AZ vaccine doesn't work
11
12/02/2021 11:05:50 43 11
bbc
Coiled snake more like. Quantitative easing, negative interest rates in the offing, the desperate buying of Government bonds in a market waiting to pop. Who ARE these consumers ready to part with cash for a new internal combustion powered car, or a flat screen TV they don't need? We're actually awash in debt. That snake will bite us on the bahookie.
26
12/02/2021 11:22:51 25 17
bbc
Gosh, what doom and gloom. Cheer up!
86
12/02/2021 11:50:49 10 0
bbc
Some are awash with debt, not all. I've never bought a new car, much of the stuff I buy is second hand. As a result I am a mortgage free homeowner in my late 30s. I've saved a fair bit over the years and am ready to spend - new kitchen next :)
143
12/02/2021 12:10:12 0 1
bbc
new cars will be EV
12
12/02/2021 11:05:57 41 6
bbc
Come spring we will all rush to the shops with our savings and buy loads of over priced foreign crap we don't need.
55
12/02/2021 11:35:26 15 2
bbc
The coffee brigade spaff millions to tax dodging coffee shops, why wait for the shops to open!
139
12/02/2021 12:09:41 7 0
bbc
people just buy crap for no apparent reason
158
12/02/2021 12:26:08 2 1
bbc
Driving inflation sky high and causing an interest rate increase which kills off real recovery. Daft isn't it?
253
12/02/2021 16:39:38 1 0
bbc
What shops?
13
12/02/2021 11:06:32 28 11
bbc
The thing about nonsense is just that - it is nonsense. Talking up the prospect when there is worse to come is just propaganda aimed at making people feel better as their livelihoods are destroyed.
Party pooper Removed
279
13/02/2021 18:23:04 0 0
bbc
You should not get so carried away with blind optimism.
8
12/02/2021 11:03:25 8 4
bbc
So not all bad economic news then which is pleasing! It must be cos Boris has a plan (just no one knows what it is) & we'll soon be over the "bumps in the road", our teeth won't hurt & we'll be cruising at altitude enjoying G&T's galore with unlimited peanuts!

Meanwhile, in the real world.............??
14
12/02/2021 11:07:37 3 7
bbc
What's your plan Professor?
40
12/02/2021 11:28:15 1 1
bbc
His plan is to ignore old grouches like you.
xx
6
MVP
12/02/2021 11:02:51 6 4
bbc
This optimism is encouraging but we must not forget that one of the objectives of the Bank of England is to ensure faith in the UK financial system so it would be bizarre if they said anything different.
15
12/02/2021 11:09:05 1 5
bbc
Can only think of Mark Carney who told us we were useless on our own.
16
12/02/2021 11:09:12 13 8
bbc
Of course there will be a recovery of some kind but it will be desperately small compared to the rest of Europe due to Brexit.

Our world beating horrendous infection and death rates combined with Brexit and Tory cronyism should ensure our pariah status continues for years to come.

The sick man of Europe is truly back on its perch.
17
12/02/2021 11:10:33 5 6
bbc
Show me where you get your facts from ...
28
12/02/2021 11:23:26 3 2
bbc
lol
44
12/02/2021 11:30:41 2 1
bbc
Fully agree that Brexit, which was always going to be disruptive, has been handled badly and governments Covid-19 response has been poor. Nonetheless, there really is no evidence to suggest we will be the "sick man of Europe", all economic forecasts have predicted growth slower because of Brexit but actually in-line with Eurozone growth. Nothing to celebrate but no need to catastrophize either.
138
12/02/2021 12:08:48 1 2
bbc
Covid came from EU
256
12/02/2021 16:50:45 0 0
bbc
I think you will find that's Italy, Spain and Portugal, all in the euro zone and dragging them down the Swany.
16
12/02/2021 11:09:12 13 8
bbc
Of course there will be a recovery of some kind but it will be desperately small compared to the rest of Europe due to Brexit.

Our world beating horrendous infection and death rates combined with Brexit and Tory cronyism should ensure our pariah status continues for years to come.

The sick man of Europe is truly back on its perch.
17
12/02/2021 11:10:33 5 6
bbc
Show me where you get your facts from ...
19
12/02/2021 11:12:21 6 3
bbc
The denial is strong in you.
50
12/02/2021 11:29:37 2 0
bbc
...asks a poster who only ever posts opinions based on SFA. Try this:

https://yorkshirebylines.co.uk/tory-donors-resorting-to-stealing-childrens-lunch-money/

"Ineffective procurement processes have led to the outsourcing of £10.5bn contracts without competitive tender, to companies owned by Conservative Party donors and the relatives of MPs"

Plenty more cronyism where that came from.
18
12/02/2021 11:10:46 11 4
bbc
Well that's alright then. The Bank of England believes a boom is just the thing we need to solve our problems. History teaches us otherwise.
17
12/02/2021 11:10:33 5 6
bbc
Show me where you get your facts from ...
19
12/02/2021 11:12:21 6 3
bbc
The denial is strong in you.
20
Yeh
12/02/2021 11:12:22 13 1
bbc
I hope so. I have had enough of lockdown now.
21
12/02/2021 11:14:45 8 7
bbc
Not only that but I predict that pubs, restaurants, in fact most social activities will have the biggest boom in years. The lock-down has shown us just how important socialising is to people. We've sort of taken it for granted for too many years. The local will be the biggest winner. The pub after decades of decline will once more, as it was for centuries, become the focal centre of communities.
132
12/02/2021 12:11:47 2 0
bbc
Why will they have the biggest boom in years when the unemployment rate will have trebled?
4
12/02/2021 11:01:02 11 8
bbc
I feel sorry for young people now - Most didn't want Brexit yet are getting lumbered with the costs of it. Now there are fewer jobs due to the tragic handling of covid and their education is being disrupted.

This is going to be the first generation in a long time to inherit things in a worse condition than their parents got it.
22
12/02/2021 11:16:17 7 6
bbc
What utter nonsence and a pathetic attempt at turning this into your own little rant about Boris. People born in the 30s/40s inherited bombs. Those in the 70's inherited unemployment and serious hardship, while we've had to stay at home and watch box sets on our 50 inch tv screens. And you complain, and complain.
Pull up your sleeve and do your bit. AND STOP MOANING!
30
12/02/2021 11:24:31 4 5
bbc
Gosh. You older folk are so much more authentic than younger folk.

Your life "experiences" are so much more important than anyone else's.

Why don't YOU stop moaning about younger folk ?
#okgammon Removed
37
12/02/2021 11:26:12 7 0
bbc
Ever thought of a job running KPMG in the UK? I hear the position is vacant....
47
Ed
12/02/2021 11:31:22 4 2
bbc
People born in the late 60s and 70s got to working age in the 90s/00s. The only thing they inherited was delusional self exceptionalism
146
12/02/2021 12:17:26 2 0
bbc
To follow your interesting attempt at logic, no one has any right to complain so long as there's someone else in history who had it worse?

So people being bombed in WW2 can't complain because they didn't have the black death? And people during the Black death can't complain as it wasn't as bad as the last ice age?

If you're disagreeing with me, fine, but please don't use such a stupid argument.
Stop telling people to stop moaning when you are obviously one of the morons who set this traincrash in motion and are sitting on your arse with your inflation linked pension payed for by the youngsters who cant afford a pension or house. Removed
23
12/02/2021 11:16:19 6 3
bbc
This will bring massive inflation, company’s will need to recoup losers and will not be able to supply the high demand so will up there prices
36
12/02/2021 11:26:11 2 2
bbc
The last year has been fine for sales of physical goods, even if there has been a move from retail to delivery. It's hospitality and entertainment that's been hit the worst - we're already seeing price inflation for UK holidays, but pubs, restaurants, music venues, theatres also have a price ceiling their customers will pay. Big question is whether social distancing applies, keeping costs high.
24
12/02/2021 11:17:08 16 3
bbc
Wow this guy is definitely optimistic. Very very very optimistic.
92
12/02/2021 11:55:39 12 1
bbc
That's probably because he's very rich. He needs to get out and about a have a look at some of Britain's forgotten towns.
25
12/02/2021 11:21:55 29 7
bbc
"many UK households had strengthened their finances during lockdown" - only if you're an employee. The self-employed and small businesses have been left to rot.
74
12/02/2021 11:43:16 13 2
bbc
Correct.
People on furlough seem to think someone else is going to payback debt.
79
12/02/2021 11:39:11 1 0
bbc
And those of us who've stepped in to help our self-employed friends have less money to spend.
Removed
11
12/02/2021 11:05:50 43 11
bbc
Coiled snake more like. Quantitative easing, negative interest rates in the offing, the desperate buying of Government bonds in a market waiting to pop. Who ARE these consumers ready to part with cash for a new internal combustion powered car, or a flat screen TV they don't need? We're actually awash in debt. That snake will bite us on the bahookie.
26
12/02/2021 11:22:51 25 17
bbc
Gosh, what doom and gloom. Cheer up!
61
12/02/2021 11:38:16 12 3
bbc
Realism isn't "doom and gloom".

It's being realistic.

HTH
140
12/02/2021 12:15:14 1 0
bbc
Realistic.
235
12/02/2021 14:58:53 2 0
bbc
OK we get it... the powers that be talk up the economy come what may, and to add a dose of reality is bad for business!
Removed
16
12/02/2021 11:09:12 13 8
bbc
Of course there will be a recovery of some kind but it will be desperately small compared to the rest of Europe due to Brexit.

Our world beating horrendous infection and death rates combined with Brexit and Tory cronyism should ensure our pariah status continues for years to come.

The sick man of Europe is truly back on its perch.
28
12/02/2021 11:23:26 3 2
bbc
lol
4
12/02/2021 11:01:02 11 8
bbc
I feel sorry for young people now - Most didn't want Brexit yet are getting lumbered with the costs of it. Now there are fewer jobs due to the tragic handling of covid and their education is being disrupted.

This is going to be the first generation in a long time to inherit things in a worse condition than their parents got it.
29
12/02/2021 11:23:37 3 2
bbc
Govt response to covid a significantly bigger hit than Brexit
76
12/02/2021 11:43:46 0 1
bbc
you mean the vaccines?
22
12/02/2021 11:16:17 7 6
bbc
What utter nonsence and a pathetic attempt at turning this into your own little rant about Boris. People born in the 30s/40s inherited bombs. Those in the 70's inherited unemployment and serious hardship, while we've had to stay at home and watch box sets on our 50 inch tv screens. And you complain, and complain.
Pull up your sleeve and do your bit. AND STOP MOANING!
30
12/02/2021 11:24:31 4 5
bbc
Gosh. You older folk are so much more authentic than younger folk.

Your life "experiences" are so much more important than anyone else's.

Why don't YOU stop moaning about younger folk ?
80
12/02/2021 11:45:54 2 1
bbc
Mark Twain says that at seventeen he could scarcely endure his father, the old gentleman was so ignorant; at twenty he noticed that his father said a sensible thing occasionally; at twenty-five he was astonished at the improvement his father had made in the last eight years
31
12/02/2021 11:24:36 22 10
bbc
"coiled spring"?

"coiled spring"??????

is there no end to these facile bunterisms? presumably he, bailey, bunter and the rest have the same scriptwriter

so hot on the heels of Andrew "Mr. FCA" Bailey, we have further forecasts not based on anything very much, apart from what Mail readers so desperately wish to read

and is, of course, complete and utter bolloc
280
13/02/2021 18:24:30 0 0
bbc
Is there no end to some people's moaning?
2
12/02/2021 10:57:19 41 3
bbc
Or you might want to pay off some of these huge personal debts many seem to have.

Spending ok if you need the product or service, otherwise save it and sort out your debt...if you have any.

That way you might get a better night's sleep.
32
12/02/2021 11:25:08 24 4
bbc
I agree with those that don't think the economy will rebound as strongly as predicted.

Spending power is way down in those who were self employed and received no help. You then have people likely putting more money away incase something similar happens down the line. Yes there will be those flooding the hairdressers and pubs, but I don't think its as many as youd think
33
Ed
12/02/2021 11:25:19 10 4
bbc
The Bank of England seems to be giving out government propaganda for them
66
12/02/2021 11:40:23 3 2
bbc
a bit like mark carney - remember the house price collapse. You believed that!
137
12/02/2021 12:07:57 1 0
bbc
they are not independent just like the media
246
12/02/2021 16:00:33 0 0
bbc
funny if they say something positive its government propaganda, if they say somethin negative its absolute fact to be shouted from the houses. Propaganda is something that socialist parties really understand and exploit
22
12/02/2021 11:16:17 7 6
bbc
What utter nonsence and a pathetic attempt at turning this into your own little rant about Boris. People born in the 30s/40s inherited bombs. Those in the 70's inherited unemployment and serious hardship, while we've had to stay at home and watch box sets on our 50 inch tv screens. And you complain, and complain.
Pull up your sleeve and do your bit. AND STOP MOANING!
#okgammon Removed
13
12/02/2021 11:06:32 28 11
bbc
The thing about nonsense is just that - it is nonsense. Talking up the prospect when there is worse to come is just propaganda aimed at making people feel better as their livelihoods are destroyed.
35
bbc
Party pooper Removed
68
12/02/2021 11:41:19 0 0
bbc
#okboomer
23
12/02/2021 11:16:19 6 3
bbc
This will bring massive inflation, company’s will need to recoup losers and will not be able to supply the high demand so will up there prices
36
12/02/2021 11:26:11 2 2
bbc
The last year has been fine for sales of physical goods, even if there has been a move from retail to delivery. It's hospitality and entertainment that's been hit the worst - we're already seeing price inflation for UK holidays, but pubs, restaurants, music venues, theatres also have a price ceiling their customers will pay. Big question is whether social distancing applies, keeping costs high.
22
12/02/2021 11:16:17 7 6
bbc
What utter nonsence and a pathetic attempt at turning this into your own little rant about Boris. People born in the 30s/40s inherited bombs. Those in the 70's inherited unemployment and serious hardship, while we've had to stay at home and watch box sets on our 50 inch tv screens. And you complain, and complain.
Pull up your sleeve and do your bit. AND STOP MOANING!
37
12/02/2021 11:26:12 7 0
bbc
Ever thought of a job running KPMG in the UK? I hear the position is vacant....
10
12/02/2021 11:05:40 5 5
bbc
Let's hope that those businesses on the brink of bankrupcy can hold on until then.
Keep those vaccines coming and feel lucky to live in Britain - others will have to wait much longer.
#okboomer Removed
5
12/02/2021 11:02:01 3 5
bbc
Funny how the Chief Economist at the BoE can provide some forecasts for spring, yet Boris still can't even talk about tomorrow as it's "too soon"!

Odd that! ??
39
Ed
12/02/2021 11:28:09 0 0
bbc
Boris has been consistently wrong on every optimistic prediction he’s made. Not doing it this time is the only responsible action he’s taken during the pandemic
14
12/02/2021 11:07:37 3 7
bbc
What's your plan Professor?
40
12/02/2021 11:28:15 1 1
bbc
His plan is to ignore old grouches like you.
xx
Are you stalking me? Very creepy!
Must have ruffled your feathers.
Removed
152
12/02/2021 12:23:02 1 1
bbc
Whats your plan?
41
12/02/2021 11:28:16 4 4
bbc
If the economy does rocket back in to life then inflation will fly out of control and the only way to control that will be raising the BoE base rate. Make sure you aren't over-leveraged ! !
127
12/02/2021 12:07:25 0 0
bbc
If the moon was made of cheese.
42
12/02/2021 11:28:23 5 5
bbc
So according to HYS rules, any article with a positive slant is to be viewed with absolute cynicism.
Where as any article presenting a worst case scenario is to be viewed as fact and unchallengeable evidence that the country is going to hell in a handcart.
125
12/02/2021 12:06:31 1 1
bbc
Wake up and be a realist.
43
12/02/2021 11:29:10 8 3
bbc
Maybe I'm living in a different country, we haven't saved, still both off to work every single day so no money saved then, then we got a 2 week isolation period and didn't qualify for any funds or discretionary funds as that money had run out, so we are about 1k worse off.... That will teach me to be "essential"
60
OwO
12/02/2021 11:38:05 2 4
bbc
I mean.... if you had no social life before the pandemic then you probably won't have noticed a change due to lockdown.

Maybe manage your finances better? Must be buying a lot of tat if you aren't spending it on anything else.
16
12/02/2021 11:09:12 13 8
bbc
Of course there will be a recovery of some kind but it will be desperately small compared to the rest of Europe due to Brexit.

Our world beating horrendous infection and death rates combined with Brexit and Tory cronyism should ensure our pariah status continues for years to come.

The sick man of Europe is truly back on its perch.
44
12/02/2021 11:30:41 2 1
bbc
Fully agree that Brexit, which was always going to be disruptive, has been handled badly and governments Covid-19 response has been poor. Nonetheless, there really is no evidence to suggest we will be the "sick man of Europe", all economic forecasts have predicted growth slower because of Brexit but actually in-line with Eurozone growth. Nothing to celebrate but no need to catastrophize either.
45
12/02/2021 11:30:51 16 8
bbc
Much better to look at the numbers than the words

£ has strengthened a lot against the $ to 1.38. This means that the market thinks -ve interest rates, more bail outs of the economy are unlikely

2021 will be a strong bounce back - only question is how much
116
12/02/2021 12:02:29 13 3
bbc
Which is NOTHING compared to $1.68 some years back. Perspective is everything.....relative increments from a very low base are misleading.
121
12/02/2021 12:04:25 1 1
bbc
No the dollar has weakened.
46
12/02/2021 11:30:54 8 4
bbc
The only thing that's like a coiled spring is hyperinflation
118
12/02/2021 12:03:37 0 0
bbc
Your evidence for hyperinflation?
22
12/02/2021 11:16:17 7 6
bbc
What utter nonsence and a pathetic attempt at turning this into your own little rant about Boris. People born in the 30s/40s inherited bombs. Those in the 70's inherited unemployment and serious hardship, while we've had to stay at home and watch box sets on our 50 inch tv screens. And you complain, and complain.
Pull up your sleeve and do your bit. AND STOP MOANING!
47
Ed
12/02/2021 11:31:22 4 2
bbc
People born in the late 60s and 70s got to working age in the 90s/00s. The only thing they inherited was delusional self exceptionalism
54
12/02/2021 11:35:15 3 1
bbc
Delusional self-exceptionalism ?

Indeed.

Britannia rules the waves. Let's wheel out Vera Lynn and Major Tom etc etc
48
12/02/2021 11:31:43 5 5
bbc
Let's face it, some just don't want prosparity for the UK, just termoil.
Some will knock any positive article even if its about the sun rising in the morning.
64
12/02/2021 11:40:01 4 3
bbc
If prosperity means that we no longer need UNESCO in this country feeding children (fact) and 30 per cent of children were not below the poverty line (fact) and that Tory policy was to share the wealth (prosperity) then I would agree with you. Truth is, the prosperity of the economy is all about the banks and the billionaires and not about paying a fair day's wage for a fair day's work.
#okboomer

What is "prosparity" ?
Removed
117
12/02/2021 12:02:44 0 1
bbc
What does being positive acheive when the real economy has been driven into the ground.
49
12/02/2021 11:31:49 7 3
bbc
I need a new boiler (ancient one working but inefficient), a few other house repairs, a new sofa (springs gone), along with a few other things.

Money is there, just waiting for things to open up again.
58
12/02/2021 11:37:16 4 4
bbc
I am confused, are your springs coiled or aren't they?
114
12/02/2021 12:01:38 0 0
bbc
And?
136
12/02/2021 12:07:18 0 1
bbc
you dont have to leave the house to get any of them things
198
Dee
12/02/2021 12:56:42 0 0
bbc
You can order these things online now.
17
12/02/2021 11:10:33 5 6
bbc
Show me where you get your facts from ...
50
12/02/2021 11:29:37 2 0
bbc
...asks a poster who only ever posts opinions based on SFA. Try this:

https://yorkshirebylines.co.uk/tory-donors-resorting-to-stealing-childrens-lunch-money/

"Ineffective procurement processes have led to the outsourcing of £10.5bn contracts without competitive tender, to companies owned by Conservative Party donors and the relatives of MPs"

Plenty more cronyism where that came from.
51
12/02/2021 11:33:20 8 4
bbc
He likes his name in the papers.

From his comments its obvious that the Bank priorities aren't the man in the street and focused on the better off, new cars holidays. Explains QE, TFS and Interest rates.

Still wouldn't let him run a sweet shop.
52
TC
12/02/2021 11:34:30 9 2
bbc
He needs to have a word with those in sage who want to keep restrictions until the autumn.
113
12/02/2021 12:00:56 3 5
bbc
Your way out of this is?
53
12/02/2021 11:34:50 2 2
bbc
According to yesterday’s headlines the whole country is desperate to get their holiday’s booked - this would suggest that there is massive pent up demand from people to get out and start spending money.
Just as a heads up, businesses are preparing for the brakes to come off in April.
81
Tex
12/02/2021 11:46:11 3 0
bbc
Those planning holidays abroad will be spending overseas!
108
12/02/2021 12:00:05 0 1
bbc
And then?
47
Ed
12/02/2021 11:31:22 4 2
bbc
People born in the late 60s and 70s got to working age in the 90s/00s. The only thing they inherited was delusional self exceptionalism
54
12/02/2021 11:35:15 3 1
bbc
Delusional self-exceptionalism ?

Indeed.

Britannia rules the waves. Let's wheel out Vera Lynn and Major Tom etc etc
12
12/02/2021 11:05:57 41 6
bbc
Come spring we will all rush to the shops with our savings and buy loads of over priced foreign crap we don't need.
55
12/02/2021 11:35:26 15 2
bbc
The coffee brigade spaff millions to tax dodging coffee shops, why wait for the shops to open!
56
12/02/2021 11:35:46 1 3
bbc
Coiled springs go ............"Boinngg!"
57
12/02/2021 11:36:29 3 2
bbc
The housing market after the 1st Lockdown is an example of what he is saying... but we are starting from a very low base given the knock the economy has had. BUT.. long term... if there is large unemployment - how much of a bounce back can be achieved and sustained
49
12/02/2021 11:31:49 7 3
bbc
I need a new boiler (ancient one working but inefficient), a few other house repairs, a new sofa (springs gone), along with a few other things.

Money is there, just waiting for things to open up again.
58
12/02/2021 11:37:16 4 4
bbc
I am confused, are your springs coiled or aren't they?
59
12/02/2021 11:37:57 25 3
bbc
Speaking to The Sunday Times in 2016, Mr Haldane said he did not consider himself 'wealthy' despite a basic salary of more than £180,000 at the time. He owns two homes – one in Surrey and a holiday home on the Kent coast – and chose property rather than a pension when asked which was best for retirement planning.

Any wonder Interest Rate and QE decisions. Done very well out of both, surprised?
70
12/02/2021 11:41:56 6 2
bbc
To be fair, he was also helped by the stamp duty holiday, which (probably) he had nothing (directly) to do with.
43
12/02/2021 11:29:10 8 3
bbc
Maybe I'm living in a different country, we haven't saved, still both off to work every single day so no money saved then, then we got a 2 week isolation period and didn't qualify for any funds or discretionary funds as that money had run out, so we are about 1k worse off.... That will teach me to be "essential"
60
OwO
12/02/2021 11:38:05 2 4
bbc
I mean.... if you had no social life before the pandemic then you probably won't have noticed a change due to lockdown.

Maybe manage your finances better? Must be buying a lot of tat if you aren't spending it on anything else.
124
12/02/2021 12:06:08 2 0
bbc
You are something else!
135
12/02/2021 12:12:45 2 0
bbc
Patronising
26
12/02/2021 11:22:51 25 17
bbc
Gosh, what doom and gloom. Cheer up!
61
12/02/2021 11:38:16 12 3
bbc
Realism isn't "doom and gloom".

It's being realistic.

HTH
72
12/02/2021 11:42:56 3 4
bbc
Then be realistic!
179
12/02/2021 12:42:06 0 1
bbc
Except what realism isn't real until its happened.
62
12/02/2021 11:39:06 7 1
bbc
After a years incarceration he could well be onto something, people will go nuts when set loose. Problem being this Covid is not going away as we speak?
106
12/02/2021 11:59:24 3 4
bbc
And your point as always is?
9
12/02/2021 11:03:48 4 3
bbc
The vaccine is the key to unlock the economy and unleash the coiled spring to let loose our economy and consumer confidence. We are in tough times with an economy that has shrunk nearly 10% but that is recoverable as we roll the vaccine out. We are British and we will win through.
63
12/02/2021 11:32:11 1 2
bbc
British Values! Democracy, the Rule of Law, Fair Play, Respect for others, Tolerance...

We are British!

Unfortunately the government, quite clearly, is not.
48
12/02/2021 11:31:43 5 5
bbc
Let's face it, some just don't want prosparity for the UK, just termoil.
Some will knock any positive article even if its about the sun rising in the morning.
64
12/02/2021 11:40:01 4 3
bbc
If prosperity means that we no longer need UNESCO in this country feeding children (fact) and 30 per cent of children were not below the poverty line (fact) and that Tory policy was to share the wealth (prosperity) then I would agree with you. Truth is, the prosperity of the economy is all about the banks and the billionaires and not about paying a fair day's wage for a fair day's work.
65
12/02/2021 11:40:07 29 6
bbc
"UK economy poised like a coiled spring, says Bank economist"

I think he is confusing a coiled spring with a slinky which can travel down a flight of steps end-over-end.
110
12/02/2021 12:00:29 16 13
bbc
... most of the UK knockers on here are like slinkies ... of no practical value but fascinating when you watch them falling down stairs
33
Ed
12/02/2021 11:25:19 10 4
bbc
The Bank of England seems to be giving out government propaganda for them
66
12/02/2021 11:40:23 3 2
bbc
a bit like mark carney - remember the house price collapse. You believed that!
48
12/02/2021 11:31:43 5 5
bbc
Let's face it, some just don't want prosparity for the UK, just termoil.
Some will knock any positive article even if its about the sun rising in the morning.
#okboomer

What is "prosparity" ?
Removed
83
12/02/2021 11:47:43 0 0
bbc
"termoil" :-)

How is the weather in Leningrad ?
Party pooper Removed
68
12/02/2021 11:41:19 0 0
bbc
#okboomer
69
12/02/2021 11:35:02 2 2
bbc
shame Boris never shut the borders down
104
12/02/2021 11:58:45 2 1
bbc
Shame the Boris was allowed to be a politician.
59
12/02/2021 11:37:57 25 3
bbc
Speaking to The Sunday Times in 2016, Mr Haldane said he did not consider himself 'wealthy' despite a basic salary of more than £180,000 at the time. He owns two homes – one in Surrey and a holiday home on the Kent coast – and chose property rather than a pension when asked which was best for retirement planning.

Any wonder Interest Rate and QE decisions. Done very well out of both, surprised?
70
12/02/2021 11:41:56 6 2
bbc
To be fair, he was also helped by the stamp duty holiday, which (probably) he had nothing (directly) to do with.
151
12/02/2021 12:22:08 1 0
bbc
Not really chatting about the last year but last dozen years.
Inflation spent 2 years above target - nothing
Interest rate decisions
QE, TFS, TFSE all boosted assets house share prices
The failed policies the BOE have followed the last years have benefitted him hugely personally. Still on about more.
Its like ERM on super steroids
£1,000,000,000,000+ and counting
264
12/02/2021 18:11:50 0 0
bbc
Complete twaddle. He already owned the two properties in 2016 and the stamp duty holiday wasn't introduced until July 2020.
71
12/02/2021 11:42:08 5 2
bbc
by TC

He needs to have a word with those in sage who want to keep restrictions until the autumn.

—-

...but surely it’s completely obvious that some restrictions may go on longer than others. Lockdown will end, but not allowing 70000 fans to attend a football match may go on longer. The media like to present everything in a binary way because it makes a better headline.
96
12/02/2021 11:56:29 2 1
bbc
Stop slating the media and then coming on the media to slate the media. You need to know what is the media.
61
12/02/2021 11:38:16 12 3
bbc
Realism isn't "doom and gloom".

It's being realistic.

HTH
72
12/02/2021 11:42:56 3 4
bbc
Then be realistic!
73
12/02/2021 11:43:05 10 1
bbc
All well and good but as soon as the brakes com off, the government will stop putting billions of pounds in to the economy and jobs will go. People my think twice before running up new debts
25
12/02/2021 11:21:55 29 7
bbc
"many UK households had strengthened their finances during lockdown" - only if you're an employee. The self-employed and small businesses have been left to rot.
74
12/02/2021 11:43:16 13 2
bbc
Correct.
People on furlough seem to think someone else is going to payback debt.
75
12/02/2021 11:43:36 2 1
bbc
Discretionary spending will be something else as more or less one entire year has been lost

Home furnishings, redecorating, white goods, cars, holidays, clothes, shoes, sport and leisure gear.....
29
12/02/2021 11:23:37 3 2
bbc
Govt response to covid a significantly bigger hit than Brexit
76
12/02/2021 11:43:46 0 1
bbc
you mean the vaccines?
77
12/02/2021 11:43:58 6 1
bbc
You have to be simple not to realize that you can get a massive percentage increase by going from a severely depressed economy, back even to half-way where we were before. It means nothing. I don't want to be pessimistic or optimistic; I`m just tired of so much spinning. People who saved money during the pandemic can spend more than before, but its just the same money they didnt spend earlier.
78
12/02/2021 11:36:58 4 2
bbc
Haldane is just following the government's line: boost spending to restart the economy.

Good luck with that.
25
12/02/2021 11:21:55 29 7
bbc
"many UK households had strengthened their finances during lockdown" - only if you're an employee. The self-employed and small businesses have been left to rot.
79
12/02/2021 11:39:11 1 0
bbc
And those of us who've stepped in to help our self-employed friends have less money to spend.
30
12/02/2021 11:24:31 4 5
bbc
Gosh. You older folk are so much more authentic than younger folk.

Your life "experiences" are so much more important than anyone else's.

Why don't YOU stop moaning about younger folk ?
80
12/02/2021 11:45:54 2 1
bbc
Mark Twain says that at seventeen he could scarcely endure his father, the old gentleman was so ignorant; at twenty he noticed that his father said a sensible thing occasionally; at twenty-five he was astonished at the improvement his father had made in the last eight years
53
12/02/2021 11:34:50 2 2
bbc
According to yesterday’s headlines the whole country is desperate to get their holiday’s booked - this would suggest that there is massive pent up demand from people to get out and start spending money.
Just as a heads up, businesses are preparing for the brakes to come off in April.
81
Tex
12/02/2021 11:46:11 3 0
bbc
Those planning holidays abroad will be spending overseas!
100
12/02/2021 11:57:22 0 1
bbc
??
103
12/02/2021 11:58:22 0 0
bbc
That includes me the first chance I get :)
82
12/02/2021 11:47:21 3 1
bbc
Maybe all this GDP tosh needs binning and other measures dreaming up ?

UK been a stressed out nation for decades and it shows badly.
#okboomer

What is "prosparity" ?
Removed
83
12/02/2021 11:47:43 0 0
bbc
"termoil" :-)

How is the weather in Leningrad ?
141
12/02/2021 12:15:26 0 0
bbc
stop digging!
84
12/02/2021 11:48:37 12 2
bbc
He has no idea what's going to happen, of course there will be some form of rebound - the size and longevity? Nobody knows. All I know is that in a management meeting this morning we sadly had to agree that 20 furloughed employees are going to have to be made redundant. If that's going to become a common theme - his recovery may not be as he expects.
283
13/02/2021 18:27:21 0 0
bbc
I believe him.
85
12/02/2021 11:50:44 7 0
bbc
He may be correct, that is his opinion.

But what about the same people being asked to 'pay back the costs of the pandemic' via more dubious 'austerity measures' reducing their living standards and off setting any positive effects?

Just like last time.

I think we are way past 'consumer confidence' i.e. 'talk it up, and it will happen'.
11
12/02/2021 11:05:50 43 11
bbc
Coiled snake more like. Quantitative easing, negative interest rates in the offing, the desperate buying of Government bonds in a market waiting to pop. Who ARE these consumers ready to part with cash for a new internal combustion powered car, or a flat screen TV they don't need? We're actually awash in debt. That snake will bite us on the bahookie.
86
12/02/2021 11:50:49 10 0
bbc
Some are awash with debt, not all. I've never bought a new car, much of the stuff I buy is second hand. As a result I am a mortgage free homeowner in my late 30s. I've saved a fair bit over the years and am ready to spend - new kitchen next :)
150
12/02/2021 12:22:00 10 0
bbc
Fair enough. Like you, I paid off my mortgage at 37, have owned only six cars in my entire life (now retired) none of them new, and managed to bring up a couple of kids in the process. I'm not even from Yorkshire! I admire and respect your approach. But, the country, as a whole, is in the brown stuff.
87
12/02/2021 11:51:13 4 1
bbc
Once people are allowed to go out they will spend more , increasing the velocity of money. Then we will get much more inflation.
88
12/02/2021 11:51:43 2 8
bbc
Yes agree a massive rebound and the country is already doing well with what industry has been running all though the lock downs . The pubs and Restaurants will do well when they open as people want to get out . Very good upbeat assessment . Then look at the BBC knocking out great country at every more ????????????????????????????????????
162
12/02/2021 12:28:55 1 0
bbc
Your point is as well made as your obvious bias.
89
12/02/2021 11:51:53 14 0
bbc
Not in my house...
90
12/02/2021 11:53:31 77 1
bbc
Best thing folks could actually do is to pay down their debts, especially credit cards (first) and then mortgages. A property and credit-based economy only benefits the bankers.......
Removed
188
12/02/2021 12:50:26 3 4
bbc
Easy to say - those who can pay down their debts are already financially reasonably "comfortable" anyway.
203
12/02/2021 13:03:37 24 0
bbc
First thing I did was pay off the credit card.

But I won't be going on a reckless spending splurge as Haldane has suggested.

Twice a week to the cinema/restaurant? Hi-spec car? The man's deluded.

This pandemic has taught me to put more aside for a rainy day as you just don't know what's around the corner.
210
12/02/2021 13:19:06 0 11
bbc
I assume you live in a tent and have your cash in a tin.
212
KD
12/02/2021 13:25:26 8 0
bbc
Absolutely - we should all strive to reduce our debt (as a country) - buy only what we need even if we can afford to buy other things that are unnecessary and expensive! Reducing your debt can be done in stages - paying off more on the card (in small increments). We all have a lot more than we realise - A lot of us just need to reassess our lifestyles (pre lockdown).
233
12/02/2021 14:56:49 6 3
bbc
The article is just a repeat of what Andrew Bailey said the other day... and we said of course there will be a bounce back.

When the economy comes to a grinding halt and then opens up the GDP will soar, but it means very little in reality and the rate of increase will fall very rapidly.

Many businesses have closed and many people put out of work, so the long term effect will be severe.
...and spongers from around the globe descending on the UK benefits system. Removed
91
Dan
12/02/2021 11:54:24 26 9
bbc
No mention of higher taxation, higher cost of living inc council tax rises and, the elephant in the room, Brexit. I don't know anyone who is looking to splurge on anything other than a foreign holiday when lockdown ends. Pub trips to buy booze at 4 x the price of drinking at home? Cinema trips? Ha! Please. So out of touch....
So out of touch? Looks like you're describing yourself Removed
24
12/02/2021 11:17:08 16 3
bbc
Wow this guy is definitely optimistic. Very very very optimistic.
92
12/02/2021 11:55:39 12 1
bbc
That's probably because he's very rich. He needs to get out and about a have a look at some of Britain's forgotten towns.
281
13/02/2021 18:25:24 0 0
bbc
Most rich people can write in sentences. He can't.
93
12/02/2021 11:55:48 7 1
bbc
No........the opposite will happen. I have learned just how many things I used to buy are really unnecessary. I want to continue saving now the pandemic has shown me how easy it is.
94
12/02/2021 11:47:38 5 4
bbc
It's always been known that Covid is only a temporary problem to the economy. The damage from Brexit is much larger, and will take much longer to mitigate, if ever.
107
12/02/2021 11:59:45 2 4
bbc
Obsessed.
119
12/02/2021 12:03:39 0 3
bbc
Of course. We should have stayed in the EU. Right now, we really need Ursela to get us out of this mess!
129
12/02/2021 12:09:07 2 1
bbc
I think that will depend on how long you view temporary to be. March will see 1 year since the first lockdown. We have no exit plan, There are many on Furlough in jobs that may go once it has ended. Covid impact could be 3 years. As for the Brexit mess I hope within 3 years will have settled and changes made to suit both UK and EU on a better way forward than what we currently have.
95
12/02/2021 11:56:04 2 0
bbc
The Economy IS indeed like a coiled spring, just be sure to watch the end which ISN'T bouncing around.

Is the spring higher than it was last year? No
Was the spring bouncing upward in December? Yes
Was Christmas also in December? Yes

Pretty much every news outlet reports on the Economy month by month as if that is a measure of ANYTHING useful...
177
12/02/2021 12:38:29 1 0
bbc
?
71
12/02/2021 11:42:08 5 2
bbc
by TC

He needs to have a word with those in sage who want to keep restrictions until the autumn.

—-

...but surely it’s completely obvious that some restrictions may go on longer than others. Lockdown will end, but not allowing 70000 fans to attend a football match may go on longer. The media like to present everything in a binary way because it makes a better headline.
96
12/02/2021 11:56:29 2 1
bbc
Stop slating the media and then coming on the media to slate the media. You need to know what is the media.
97
12/02/2021 11:56:46 1 4
bbc
... anyone with any common sense could see this ... the pandemic has only suppressed demand not eliminated it
... but of course, the BBC and the rest of the doom mongers couldn't propose this optimistic view until it was so obvious that the would look foolish ... instead they run "the biggest slump" story as the lead headline
176
12/02/2021 12:37:56 1 3
bbc
The BBC are not doom mongers they are just not the tory trash papers that you read. Being optimistic does not help when the economy is broken.
91
Dan
12/02/2021 11:54:24 26 9
bbc
No mention of higher taxation, higher cost of living inc council tax rises and, the elephant in the room, Brexit. I don't know anyone who is looking to splurge on anything other than a foreign holiday when lockdown ends. Pub trips to buy booze at 4 x the price of drinking at home? Cinema trips? Ha! Please. So out of touch....
So out of touch? Looks like you're describing yourself Removed
99
12/02/2021 11:57:22 15 3
bbc
I won't be spending any more until I have job security. Things are extremely uncertain right now, more due to Brexit than COVID.
245
12/02/2021 15:58:51 3 4
bbc
Maybe move to the EU will solve all your problems then if Covid isnt an issue. wonder what business you work in.
81
Tex
12/02/2021 11:46:11 3 0
bbc
Those planning holidays abroad will be spending overseas!
100
12/02/2021 11:57:22 0 1
bbc
??