Tuesday, May 27, 2008
Three shocking examples of the plight we’re in
MoneyWeek: Three shocking examples of the financial plight we’re in
Getting a mortgage with complete strangers, calls for the Bank of England to muck about with the CPI and bankers rigging prices all demonstrate what a mess we're in...
Posted by damien @ 12:49 PM (287 views) Add Comment
3 Comments
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1. alan said...
I can see the 2% inflation target being moved very soon.
2. bystander said...
alan do you work for Ernst and Young Item club by any chance, or the treasury?????:)
3. bystander said...
If the government move the benchmark again, just to hold asset (house) prices up and allow for drastic cuts in rates,NU-labour will be out of work for a very, very long time. Worldwide the BoE will be seen as a total joke, and the government will be seen as dictatorial, determined to save their political skins, at the cost of disastrous inflation caused by the currency disappearing down the toilet. If parity is reached with the euro, inflation will destroy any, apparent, fiscal gains made by dropping rates. Goods and services are almost twice as expensive on the continent as they are in the UK, and you think you have problems with petrol prices now, imagine 1.60 GBP a litre, petrol, and 1.80GBP a litre, diesel, and the knock on effect on food etc. If that's what you want then that's what you'll get.