Sunday, Oct 26, 2008
Overcooked ?
TimesOnline: A weak pound won’t solve all our problems
This is a commentary about the risk of overshoot for the falling pound. The argument is basically our trade balance won't be funded if sterling falls, and that the two are self-reinforcing. The other point made is that we will get inflation (in the price rising sense, not the monetary expansion sense) on our imports. I think our requirement on imported food and energy are going to mess us up in some way, perhaps this it. Goes on to suggest that this will anchor inflationary expectations as these price rises are so visible.
Posted by stillthinking @ 10:58 AM (296 views) Add Comment
2 Comments
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1. planning4acrash said...
The falacy that a falling currency is good, and a rising currency is bad are all lies. A sound, stable currency is what everybody needs, because entrepreneurs need to plan ahead, and currency fluctuations destroy predictions and plans, except for insiders, who commit the fraud of insider trading. ALL of the big multi-nationals have that benefit. This affectively forms a globalist cartel of corporations who's insider trading affectively destroys any competition from competing with them on more than a national basis.
With Gold, we have an international currency with no fluctuations, and no inflation. Imagine planning a business on that basis. It would be HEAVEN! No insider trading, perfect business conditions, and humanity could reach for the stars, amass unbelievable wealth and develop technology capable of letting us weigh on the earth as light as a feather. But of course, the ruling elite would no longer rule in that scenario, so we must be pushed to the edge of neo-serfdom to retain their hegemony.
2. braindeed said...
....except, (f we believe that there is 'a ruling elite, per se,) the gold fromFort Knox was
knocked out to the R*********ds, by Nixon, apparently.