Friday, Jul 28, 2006
Brown's 'miracle economy' is a sham
Daily Telegraph: Don't believe Labour: inflation is back
Of all the lies New Labour has told, the one for which it will pay the highest price is its claim that it has buried inflation............ Now, however, they must be worried. For the myth that inflation is dead is being exposed. Hardly a day goes by without some price rise or other.........For more than a decade, we have been dozing like lions, lolling luxuriously in the sun. But Britain is now so indebted that even the tiniest rise in interest rates to combat inflation will wake us up with a fright. The City is forecasting that it could come as soon as next month............In the circumstances, isn't it about time that the Conservatives opposed the Chancellor, instead of quivering in his shadow?
Posted by gay gordon @ 07:46 PM (30 views) Add Comment
6 Comments
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1. Blindleadtheblind said...
I may just consider buying the telegraph again. What a well written and well judged article, not overly complexed but absolutely right on the money. Well done the Telegraph & Mr Trefgarne.
2. Scooby-doo said...
This article goes stright to the point. High inflation and low interest rates means that those who have mortgaged up to the hilt win big time and those of us saving for the HPC lose out - at least the impending HPC will redress the balance somewhat.
As an aside, having disagreed with Uncle Tom's forecast of MPC decisions (wrongly) over the last few months, I am backing his 'no change' stance. I would like to put in my stake for a 0.5%age point rise in Septmeber, though, when they realise they've lesft it too late!
3. bidin'matime said...
Good article - just a shame he doesn't have the courage (or the foresight?) to follow this through to the logical conclusion - that by the time inflation does start to show in the index, it will require a big increase in IRs to counter it, followed by HPC etc etc.
4. sirgoogle said...
Best punishment for Labour - to win the next election and sort out the mess. Nobody in their right mind would want to be in Govt in the next session.
5. Thesqueeze said...
The comment about the tories is something I myself thought the other day, i.e where on earth are they? They have so much ammo to take down this government e.g. the Iraq war, immigration (yes blues, believe it or not there are ways of bringing this up without looking racist), inflation, the "debt society", Prescott!!!, the home office stats (or lack of them), interest rates effects on pensions, the loss of manufacturing, business gong to India etc etc, but they sit back and do nothing. In fact the only thing I see of the tories is CaMORON cycling around blabbing about green issues which is probably the least of my worries if I am being honest.
6. sirgoogle said...
Has anyone computed inflation using the oldpre EMU indexes??