The Bank of England today said Government cuts should not throw the recovery off track, but sent out a stark warning to households over a spike in inflation over the coming months.
Soaring commodity costs, energy bill hikes and the impending rise in VAT are among factors likely to see inflation rise to around 3.5% over the coming months - higher than previously expected by the Bank.
I wonder why, YOU'RE THE BASTARDS THAT ARE PRINTING THE MONEY!
10 comments:
Heard on BBC Radio 2 'news' yesterday Governor of the Bank Of England warns that inflation will rise to 3.5% next year but will fall "below target" after that" Firstly, how the fuck would he know, no-one else does but also "below target", WTF is that about?
The inflation numbers are a joke, even more so when they are ex food and energy. up until very recently one of the components of the basket of goods that made up the CPI was a mobile cd player. I have no idea what the current "basket" of goods is but I do know that prices are going up. You are right that the government is printing money but compared to the American issuance we are quite restrained. It should also be recognized that issuance of sovereign debt is effectively the same as printing money.
Banned, the first thing you learn in 'O' level economics is that when you pump money in to the system, you get inflation like in Zimbabwe and the Weimar Republic. Now I don't have the training and nous of the Governor of the B of E, but he seems to know fuck all about economics, which is more than a bit worrying!
Antonio, the basket seems to change to suit them. It's all part of the big illusion, they think we're stupid and unfortunately most of us are!
Presumably you got your O'level in England or you attended a posh private school in Scotland given that O'levels were an English qualification. We had O'grades in Scotland.
Scottish and proud, you are perfectly correct, it was so long ago I forgot. No, I was educated at public schools in Ayrshire. I cater for a very international readership on here you know and I have to make things simple for them!
DL, I'll have you know that I saw Chuck Berry live at Londons Rainbow theatre the evening before my Economics 'O' Level exam and still got a pass in my least favoured subject so yes, I know all about printing money causing inflation, or Quantitative Easing as it is now called.
Banned, I was working down the fishmarket and was standing having a pint when my Economics teacher walked in and yes, I got a pass too!
I was kicked out of school before my economics A level and I seem to remember being arrested in the last twenty minutes of my Economics O'level and I became a VP at Bank of America and a senior manager at various other banks so I suppose that explains a lot of the problems in the finance industry
Antonio, how did you get arrested and as you seem to be qualified, how do they know what inflation will be in a years time?
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