FabSwingers.com > Forums > Politics > Retail sales.
Retail sales.
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By (user no longer on site) OP
over a year ago
|
Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon) |
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By (user no longer on site) OP
over a year ago
|
"Yep.
I agree with you.
Now how much is inflation up? (Not the CPI but the RPI as that is a better reflection of real inflation.)"
nothing to do with inflation. It's growth rates. |
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"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)"
The good news just keeps coming it . And the FTSE has held at a record high for ten days in a row .
I am just glad that I ignored the predictions of the doom and gloom merchants .
I am ashamed to admit that I nearly voted to remain because of some of these dire financial predictions but concluded that it was wrong to base a vote on my own personal circumstances .
I often wonder how much higher the leave vote would have been if voters had not been influenced by the merchants of doom and gloom. |
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"nothing to do with inflation. It's growth rates."
No it is retail sales year on year sand if the growth is less than inflation then it is really a decrease in revenue.
But maybe that is too difficult a concept for you to grasp.
 |
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By (user no longer on site) OP
over a year ago
|
"nothing to do with inflation. It's growth rates.
No it is retail sales year on year sand if the growth is less than inflation then it is really a decrease in revenue.
But maybe that is too difficult a concept for you to grasp.
"
and you don't seem to understand like for like growth. So any inflation has not had a negative affect on sales has it? |
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"and you don't seem to understand like for like growth. So any inflation has not had a negative affect on sales has it?"
The figures are not like for like growth, they are year on year increase in sales not inflation corrected figures.
It is the same trick as is played with inflation figures, we have headline inflation (closest to actual inflation), we have RPI (retail price index which is a broad based shop prices figure) and CPI (which is a narrow band figure where items in the survey can be changed to make the figures fit a narrative). If the figures were adjusted to take into account inflation and currency fluctuations then things would not look so rosy as you think they do.
Its the 20% drop in the value of the £ that really hurts you know.
|
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By (user no longer on site) OP
over a year ago
|
"and you don't seem to understand like for like growth. So any inflation has not had a negative affect on sales has it?
The figures are not like for like growth, they are year on year increase in sales not inflation corrected figures.
It is the same trick as is played with inflation figures, we have headline inflation (closest to actual inflation), we have RPI (retail price index which is a broad based shop prices figure) and CPI (which is a narrow band figure where items in the survey can be changed to make the figures fit a narrative). If the figures were adjusted to take into account inflation and currency fluctuations then things would not look so rosy as you think they do.
Its the 20% drop in the value of the £ that really hurts you know.
"
not like for like?  My TV must be on the blink then or everybody is lying |
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By *asyukMan
over a year ago
West London |
Please be wary of this short term horse trading in superficial financial figures.
It takes time to sort through the causes and effects.
So yes, these figures are good for UK retailers but this is off the back of a huge increase in household debt which eventually needs to be repaid. This sort of spending is very sensitive to sentiment. Inflation is only starting to feed into the economy now that stocks have been run down.
So please, EVERYONE stop, calm down and think through what these things mean one way or another.
So, for a start, why does the value of a currency fall and what about the FTSE 100 index cause it to rise as a consequence? It is coupled. |
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By (user no longer on site)
over a year ago
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"nothing to do with inflation. It's growth rates.
No it is retail sales year on year sand if the growth is less than inflation then it is really a decrease in revenue.
But maybe that is too difficult a concept for you to grasp.
"
There's so much many on here fail to grasp, they look at one thing that they can bang the drum to say it's a good thing without actually thinking about it and not taking other factors into account that totally changes the outlook of the original "bit of supposedly good news".
but to point out their mistakes that what they think is a good thing actually isn't in the real scheme of things then you get branded as a doom and gloom merchant for actually understanding the cause and effects of these snippets of news and trying to educate them that it isn't as black & white as they genrally think.
It's like a company stating their year on year sales grew 2% but operating costs increased by 25% resulting in a reduction of profits of 20%
so in real terms they can increase sales, lose money compared to last year yet on here it's brilliant brexit news  |
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By (user no longer on site) OP
over a year ago
|
"nothing to do with inflation. It's growth rates.
No it is retail sales year on year sand if the growth is less than inflation then it is really a decrease in revenue.
But maybe that is too difficult a concept for you to grasp.
There's so much many on here fail to grasp, they look at one thing that they can bang the drum to say it's a good thing without actually thinking about it and not taking other factors into account that totally changes the outlook of the original "bit of supposedly good news".
but to point out their mistakes that what they think is a good thing actually isn't in the real scheme of things then you get branded as a doom and gloom merchant for actually understanding the cause and effects of these snippets of news and trying to educate them that it isn't as black & white as they genrally think.
It's like a company stating their year on year sales grew 2% but operating costs increased by 25% resulting in a reduction of profits of 20%
so in real terms they can increase sales, lose money compared to last year yet on here it's brilliant brexit news "
can you explain why these figures are not good news? |
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"There's so much many on here fail to grasp, they look at one thing that they can bang the drum to say it's a good thing without actually thinking about it and not taking other factors into account that totally changes the outlook of the original "bit of supposedly good news".
but to point out their mistakes that what they think is a good thing actually isn't in the real scheme of things then you get branded as a doom and gloom merchant for actually understanding the cause and effects of these snippets of news and trying to educate them that it isn't as black & white as they genrally think.
It's like a company stating their year on year sales grew 2% but operating costs increased by 25% resulting in a reduction of profits of 20%
so in real terms they can increase sales, lose money compared to last year yet on here it's brilliant brexit news "
I'm glad I am not the only one to understand basic cost accountancy. for a minute I thought I had misunderstood all the lectures I attended back in the 70's before i dropped out and joined up. |
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By *asyukMan
over a year ago
West London |
"So the fall in NEXT sales was down to a rise in consumer debt spending and sentiment spending. How does that work?"
People are borrowing money to spend on things so there was an increase in overall consumer spending due to increased debt.
They chose not to buy those things from Next. They chose to buy those things from other places so sales at Next fell and those at some other places rose.
However, if you are buying something with borrowing then by definition you have to pay it back at some point so all you have done is brought that spending forward. You can't spend that money again.
As I said, this is a complex system. There's no point in picking out individual figures and saying they support a particular argument.
I'm not even arguing against you here. I'm suggesting that everyone steps back from using this data out of the full context. |
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By (user no longer on site) OP
over a year ago
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Fair enough, this post was just in response to the NEXT post really and that attempt to portray bad news as a result of Brexit. Racking up debt is bad for sure but it is also called consumer confidence by some, which would suggest that people are not worried about the effects of Brexit. |
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By (user no longer on site)
over a year ago
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"Racking up debt is bad for sure but it is also called consumer confidence by some, which would suggest that people are not worried about the effects of Brexit."
That's very true, average people are not yet worried about Brexit because they have no idea how it will effect them because other than the word Brexit it has no concrete meaning yet for them.
Business is in turmoil over Brexit because they understand the ramifications depending on what the scenario ends up like, hence why they keep asking for clarification on the Governments stance on Brexit.
BUT once we know what Brexit really is then people very well may be very worried once the consequences become clear. |
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By (user no longer on site)
over a year ago
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"Fair enough, this post was just in response to the NEXT post really and that attempt to portray bad news as a result of Brexit. Racking up debt is bad for sure but it is also called consumer confidence by some, which would suggest that people are not worried about the effects of Brexit."
I prefer to cal it consumer stupidity as most have racked up the credit cards and in 6 months time will be moaning about not being able to scorer to live  |
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By *asyukMan
over a year ago
West London |
"
BUT once we know what Brexit really is then people very well may be very worried once the consequences become clear."
...or not. We have to wait until it plays through which is why I referred to sentiment.
Most economic models assume rational economic behaviour. Unfortunately economic rationality does not account for our anthropological inclinations. There are eben more complex behavioural models being used but they certainly aren't mainstream yet. |
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By (user no longer on site) OP
over a year ago
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"Fair enough, this post was just in response to the NEXT post really and that attempt to portray bad news as a result of Brexit. Racking up debt is bad for sure but it is also called consumer confidence by some, which would suggest that people are not worried about the effects of Brexit.
I prefer to cal it consumer stupidity as most have racked up the credit cards and in 6 months time will be moaning about not being able to scorer to live "
I probably would agree, I've never had a credit card |
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By (user no longer on site)
over a year ago
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I keep pointing this out..... Large inflation is inevitable if we are to make any in roads into our debt and once again have sensible interest rates... Which IMHO is critical to capitalism, it's the marker for returns on investment |
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By (user no longer on site) OP
over a year ago
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"Large inflation means we will have to devalue the pound.... This is regardless to brexit soft or brexit hard"
bit off topic but
while you are there, what do you think of these tidal lagoon plans? |
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By (user no longer on site) OP
over a year ago
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"I probably would agree, I've never had a credit card
What! You are so stupid you have never taken advantage of the free purchase insurance that goes with buying goods and services on a credit card that you clear at the end of every month...
No wonder you have such a simplistic view of the world.
"
nope. I bet you paid PPI too |
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By (user no longer on site)
over a year ago
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"Large inflation means we will have to devalue the pound.... This is regardless to brexit soft or brexit hard
bit off topic but
while you are there, what do you think of these tidal lagoon plans?"
.
There brilliant and with doubt the easiest and cheapest way to procure base load electricity.
Yes they'll be negatives but nothing like the negatives from other sources |
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By (user no longer on site)
over a year ago
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"Large inflation means we will have to devalue the pound.... This is regardless to brexit soft or brexit hard
bit off topic but
while you are there, what do you think of these tidal lagoon plans?.
There brilliant and with doubt the easiest and cheapest way to procure base load electricity.
Yes they'll be negatives but nothing like the negatives from other sources"
From the little I heard on the radio yes their good for co2 etc but they can't be used 24/7 |
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By (user no longer on site) OP
over a year ago
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"Large inflation means we will have to devalue the pound.... This is regardless to brexit soft or brexit hard
bit off topic but
while you are there, what do you think of these tidal lagoon plans?.
There brilliant and with doubt the easiest and cheapest way to procure base load electricity.
Yes they'll be negatives but nothing like the negatives from other sources"
thats what I thought, but thought I'd check, sounds good  |
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By (user no longer on site)
over a year ago
|
"Large inflation means we will have to devalue the pound.... This is regardless to brexit soft or brexit hard
bit off topic but
while you are there, what do you think of these tidal lagoon plans?.
There brilliant and with doubt the easiest and cheapest way to procure base load electricity.
Yes they'll be negatives but nothing like the negatives from other sources
From the little I heard on the radio yes their good for co2 etc but they can't be used 24/7"
.
Whys that? |
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"nope. I bet you paid PPI too"
Nope, I owned my own company for the majority of that time so PPI was not relent to me as i was using my own companies credit card...
It was nothing more than 21 days free credit.
|
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By (user no longer on site)
over a year ago
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"
From the little I heard on the radio yes their good for co2 etc but they can't be used 24/7.
Whys that?"
The guy on the radio was some Lord such'n'such who's done a report on them or something and he said the turbines only run as / after the tide goes out |
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By (user no longer on site)
over a year ago
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He did say that was for the small one their onabout building first as a costing estimate etc, he did say the much larger ones on the planning board are more Nuclear capacity in scale and will probably hold enough sea water to run the turbines far longer, until the tide comes back in again to fill the lagoons back up. |
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By (user no longer on site)
over a year ago
|
"
From the little I heard on the radio yes their good for co2 etc but they can't be used 24/7.
Whys that?
The guy on the radio was some Lord such'n'such who's done a report on them or something and he said the turbines only run as / after the tide goes out"
.
Ah yes I see, yes that's right they run tide in and tide out but there's a slight lag at the midpoint, the idea is you run a few at different points around the coast that mitigates that as the high tide varies slightly |
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By (user no longer on site)
over a year ago
|
"
From the little I heard on the radio yes their good for co2 etc but they can't be used 24/7.
Whys that?
The guy on the radio was some Lord such'n'such who's done a report on them or something and he said the turbines only run as / after the tide goes out.
Ah yes I see, yes that's right they run tide in and tide out but there's a slight lag at the midpoint, the idea is you run a few at different points around the coast that mitigates that as the high tide varies slightly"
With what he was saying it sounded like tide in just fills the lagoons then tide out the lagoon slowly empties driving the turbines |
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By (user no longer on site) OP
over a year ago
|
"
From the little I heard on the radio yes their good for co2 etc but they can't be used 24/7.
Whys that?
The guy on the radio was some Lord such'n'such who's done a report on them or something and he said the turbines only run as / after the tide goes out.
Ah yes I see, yes that's right they run tide in and tide out but there's a slight lag at the midpoint, the idea is you run a few at different points around the coast that mitigates that as the high tide varies slightly
With what he was saying it sounded like tide in just fills the lagoons then tide out the lagoon slowly empties driving the turbines "
Just been reading about this, apparently the turbines are bi-directional. Now thats a new term  |
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By (user no longer on site)
over a year ago
|
"
From the little I heard on the radio yes their good for co2 etc but they can't be used 24/7.
Whys that?
The guy on the radio was some Lord such'n'such who's done a report on them or something and he said the turbines only run as / after the tide goes out.
Ah yes I see, yes that's right they run tide in and tide out but there's a slight lag at the midpoint, the idea is you run a few at different points around the coast that mitigates that as the high tide varies slightly
With what he was saying it sounded like tide in just fills the lagoons then tide out the lagoon slowly empties driving the turbines
Just been reading about this, apparently the turbines are bi-directional. Now thats a new term "
Would suit many on here 
|
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By (user no longer on site)
over a year ago
|
Oh yes they run both ways which is the newish technology the basic principle you can see working today on the road bridge in Holland which is also a levy dam with turbines installed.
.
There is some negatives with the killing of marine life, wetlands birds and such but let's not kid anybody that somehow wind turbines don't or fossil fuels don't or nuclear reactors don't.... There's a negative impact by everything, your just trying to find the one with the best negative in reality. |
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"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)"
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low |
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By (user no longer on site) OP
over a year ago
|
"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low"
Ye ok |
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"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low
Ye ok "
Sorry don't you do economics? |
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By (user no longer on site) OP
over a year ago
|
"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low
Ye ok
Sorry don't you do economics?"
What does economics have to do with it? But you obviously don't |
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"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low
Ye ok
Sorry don't you do economics?
What does economics have to do with it? But you obviously don't"
What does economics have to do with it? Oh, everything. |
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By (user no longer on site) OP
over a year ago
|
"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low
Ye ok
Sorry don't you do economics?
What does economics have to do with it? But you obviously don't
What does economics have to do with it? Oh, everything. "
and you think the interest rate cut and 'billions' 'pumped' into the economy has helped retail sales? How much more money do you have to spend each week since June? |
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"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low
Ye ok
Sorry don't you do economics?
What does economics have to do with it? But you obviously don't
What does economics have to do with it? Oh, everything.
and you think the interest rate cut and 'billions' 'pumped' into the economy has helped retail sales? How much more money do you have to spend each week since June?"
Personally none, but I don't have borrowing or credit cards. And it's a simple rule that when you put money into an economy it prompts extra spending which manifests itself in retail sales. This is called Keynesian macro economic theory. |
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By (user no longer on site) OP
over a year ago
|
"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low
Ye ok
Sorry don't you do economics?
What does economics have to do with it? But you obviously don't
What does economics have to do with it? Oh, everything.
and you think the interest rate cut and 'billions' 'pumped' into the economy has helped retail sales? How much more money do you have to spend each week since June?
Personally none, but I don't have borrowing or credit cards. And it's a simple rule that when you put money into an economy it prompts extra spending which manifests itself in retail sales. This is called Keynesian macro economic theory. "
do you really think the banks have put any more money into the economy and that the bank interest rate really affects credit card rates? Or could it be more a case of the economy doing well, more people in work and people earning more? |
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"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low
Ye ok
Sorry don't you do economics?
What does economics have to do with it? But you obviously don't
What does economics have to do with it? Oh, everything.
and you think the interest rate cut and 'billions' 'pumped' into the economy has helped retail sales? How much more money do you have to spend each week since June?
Personally none, but I don't have borrowing or credit cards. And it's a simple rule that when you put money into an economy it prompts extra spending which manifests itself in retail sales. This is called Keynesian macro economic theory.
do you really think the banks have put any more money into the economy and that the bank interest rate really affects credit card rates? Or could it be more a case of the economy doing well, more people in work and people earning more?"
It's OK I get it. You are in an economic knowledge deficit. I would try and explain to you how the billions extra and the lower interest rate are creators of the situation you describe but you won't understand. |
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By (user no longer on site) OP
over a year ago
|
"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low
Ye ok
Sorry don't you do economics?
What does economics have to do with it? But you obviously don't
What does economics have to do with it? Oh, everything.
and you think the interest rate cut and 'billions' 'pumped' into the economy has helped retail sales? How much more money do you have to spend each week since June?
Personally none, but I don't have borrowing or credit cards. And it's a simple rule that when you put money into an economy it prompts extra spending which manifests itself in retail sales. This is called Keynesian macro economic theory.
do you really think the banks have put any more money into the economy and that the bank interest rate really affects credit card rates? Or could it be more a case of the economy doing well, more people in work and people earning more?
It's OK I get it. You are in an economic knowledge deficit. I would try and explain to you how the billions extra and the lower interest rate are creators of the situation you describe but you won't understand. "
I'm sorry but you don't seem to understand the situation. The Bank of England used QE to make sure the banks had enough money so that they didn't suffer if there was a sudden shock due to Brexit and so that they wouldn't stop lending and create a credit crunch. No extra money has been put into the economy |
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"It is good for are cities and employment as the internet is destroying both please try not to shop online people it is killing are cities"
People are so busy working all the extra hours that they don't have time to shop apart from online. We both work twelve hours or longer shifts .... too exhausted to shop after that...t |
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"I probably would agree, I've never had a credit card
What! You are so stupid you have never taken advantage of the free purchase insurance that goes with buying goods and services on a credit card that you clear at the end of every month...
No wonder you have such a simplistic view of the world.
"
Or maybe some people are sufficiently confident of their decisions that they do not need the free purchase insurance . I think it morally wrong that some people use this insurance to pass losses in certain scenarios back to the banks .
I buy airline tickets up to a year in advance of travel but am satisfied that there is no risk to me of any losses . |
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By (user no longer on site)
over a year ago
|
"nothing to do with inflation. It's growth rates.
No it is retail sales year on year sand if the growth is less than inflation then it is really a decrease in revenue.
But maybe that is too difficult a concept for you to grasp.
"
Year on year figures take account of inflation.
If (say) inflation is 10%.... then a growth figure of 2% means an absolute increase of 12%.
Grasp that! |
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"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low
Ye ok
Sorry don't you do economics?
What does economics have to do with it? But you obviously don't
What does economics have to do with it? Oh, everything.
and you think the interest rate cut and 'billions' 'pumped' into the economy has helped retail sales? How much more money do you have to spend each week since June?
Personally none, but I don't have borrowing or credit cards. And it's a simple rule that when you put money into an economy it prompts extra spending which manifests itself in retail sales. This is called Keynesian macro economic theory.
do you really think the banks have put any more money into the economy and that the bank interest rate really affects credit card rates? Or could it be more a case of the economy doing well, more people in work and people earning more?
It's OK I get it. You are in an economic knowledge deficit. I would try and explain to you how the billions extra and the lower interest rate are creators of the situation you describe but you won't understand.
I'm sorry but you don't seem to understand the situation. The Bank of England used QE to make sure the banks had enough money so that they didn't suffer if there was a sudden shock due to Brexit and so that they wouldn't stop lending and create a credit crunch. No extra money has been put into the economy"
As I said, you won't understand, pointless even bringing up M3. You've actually shown the way it works in your post but failed to understand the implications. |
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By (user no longer on site) OP
over a year ago
|
"Following on from the NEXT thread.
.
John Lewis up 2.7%
Tesco up 0.7%
Marks&Spencer up 2.3%
Asos up 36%
Debenhams up 1%
Waitrose up 2.8%
and on it goes.
.
Now will the Remainer crew admit that this is due to Brexit?
If not why not?
(Personally I think this is nothing to do with Brexit just the same as the NEXT figures had nothing to do with Brexit, just somebody jumping on the doom wagon)
More to do with the bank of England pumping billions into the economy and despite wishing to do the opposite keeping interest rates low
Ye ok
Sorry don't you do economics?
What does economics have to do with it? But you obviously don't
What does economics have to do with it? Oh, everything.
and you think the interest rate cut and 'billions' 'pumped' into the economy has helped retail sales? How much more money do you have to spend each week since June?
Personally none, but I don't have borrowing or credit cards. And it's a simple rule that when you put money into an economy it prompts extra spending which manifests itself in retail sales. This is called Keynesian macro economic theory.
do you really think the banks have put any more money into the economy and that the bank interest rate really affects credit card rates? Or could it be more a case of the economy doing well, more people in work and people earning more?
It's OK I get it. You are in an economic knowledge deficit. I would try and explain to you how the billions extra and the lower interest rate are creators of the situation you describe but you won't understand.
I'm sorry but you don't seem to understand the situation. The Bank of England used QE to make sure the banks had enough money so that they didn't suffer if there was a sudden shock due to Brexit and so that they wouldn't stop lending and create a credit crunch. No extra money has been put into the economy
As I said, you won't understand, pointless even bringing up M3. You've actually shown the way it works in your post but failed to understand the implications. "
I understand perfectly but you seem unable to understand or accept that there are other reasons for the rise |
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By (user no longer on site) OP
over a year ago
|
And bringing up M3 would have been pointless yes because of its shortcomings, especially over that timescale. Now what accounted for the 1.4% rise in retail sales in July I wonder when QE and the interest rate cut didn't happen until August 3rd? |
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"And bringing up M3 would have been pointless yes because of its shortcomings, especially over that timescale. Now what accounted for the 1.4% rise in retail sales in July I wonder when QE and the interest rate cut didn't happen until August 3rd?"
I gave you the two primary reasons. You ignored them. |
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