Friday, Apr 27, 2007
Will you get out there and spend
BBC: Bank of Japan defers rate action
Japan has kept its key interest rate on hold at 0.5% amid fresh concerns about deflationary pressures in the economy.
Posted by holding out @ 09:44 AM (167 views) Add Comment
8 Comments
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1. sovietuk said...
The following are all current headlines on the BBC Business section's website
"House price growth 'strengthens' "
"Buy-to-let home owners to double"
"Spain real estate sell-off eases"
2. dohousescrashinthewoods said...
It's a branch of the ministry of truth's plunge-protection team.
3. sold 2 rent 1 said...
"But ministers pointed to the fact that consumer spending remains solid while unemployment is at an eight and a half year low."
So we have a growing econmy with falling prices.
This must mean the defaltionary pressures must still be huge.
How much will prices fall when the economy turns down.
"The Economist" was right when it published its "D for deflation" lead article in 2002.
It just got the timescale wrong by 5 years.
4. george monsoon said...
Re- BBC Propaganda machine....People aren't so stupid to believe this efluent are they?
5. dugmug said...
George...yes, they are. Very stupid. Most of them anyway. How do you think we got in this mess? "Here, have some cheap money so you can pay far more for a house than it's worth, then the interest rate will go up and you won't be able to make the repayments on a property that is falling in value" "Oh, how kind of you, thanks very much, I'll take your money at 5 times my salary please, sounds like a great idea". That sort of thing - bunch of dumb-arses, the general public.
6. mrmickey said...
If you want to know how thick the governement think the general public are just watch breakfast TV one of the BBC's main stories today was how pop music lyrics can be misheard, both the presenters looked like they were on medication.
7. cyril said...
Regardless of how stupid people are, the govt panders to the majority because they vote (well some of them do anyway). I am clever enough not to get my finances overstretched, but since I am the minority, I'll probably be the one that gets screwed over.
If this boom ends up with rampant inflation, my savings will disappear and everyone else will get a pay rise. This will be my reward for being too sensible.
8. dohousescrashinthewoods said...
George/Dugmug:
NL's focus on education is to keep people stupid so they can be controlled, not, as in some African states, to educate free-thinking human beings who will be able to take the country forward.
We, and TB-GB in their retirement, will be ruled by txt-speaking asbos whose brains and characters were never developed beyond the ability to want and spend. Nice prospect.
Treat your people as idiots and they will become the idiots you thought they were.
Short-sighted as ever, NL. Thanks a lot.