Friday, May 25, 2007
I'll believe it if it happens (and cheer)
Telegraph Online: Prices to hit 12-year high says CBI
Edmund Conway reports BoE has lost control of inflation and quotes the OECD "Britain has the worst inflation problem in Western Europe." I still don't believe this dose of reality and suspect the MPC will not raise interest rates beyond 5.75% this year because the outlook for inflation will show it returning to 2% +/- 1% and Crash Gordon won't let them. Question is, when should I cash in my PEPs/ISAs and put the money in an alternate investment vehicle - don't want to get caught by the falling stock market.
Posted by talking rot @ 06:33 AM (144 views) Add Comment
3 Comments
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1. Orwell said...
Oh Swervyn Mervyn, I thought that they would stop at $40 a barrel ?
Slight overshoot then?
What monkeys are in charge of this state of affairs?
Does anyone remember 'If' (Steve Bell) from the Guardian? with Nigel Lawson as the fat controller ... saying to the engine (economy) which had come off the tracks, "you're a very bad enging indeeed... Ha Ha Ha....
2. Orwell said...
Oh sorry I was talking about oil at %72 per barrel!!! Herewith:
It came as oil prices hit a nine-month high of $72 a barrel, fuelling fears that higher petrol prices and transport costs could generate further jumps in inflation.
3. dohousescrashinthewoods said...
Re ISA: I am takig S2R1's advice and transferring to Fidelity so I can switch to something fiked income/inflation-linked without liquidating to cash (which would lose value rapidly at this rate). That said, I have opened an Egg ISA at 6%, which is probably not too far below true inflation.