Wednesday, Nov 26, 2008
Hyperinflation on the horizon?
BBC News: Europe announces 200bn-euro plan
The European Commission has unveiled an economic recovery plan worth 200bn euros (£170bn) which it hopes will save millions of jobs across the region.
Its president Jose Manuel Barroso said he thought the plan was "timely, temporary and targeted".
The EC expects member states to contribute 170bn euros while the European Union will give 30bn euros.
Mr Barroso said it was important that EU members acted together in a period of "exceptional crisis".
Posted by flintster1994 @ 01:03 PM (384 views) Add Comment
4 Comments
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1. matt_the_hat said...
Hyperinflation has now been selected as the politically correct solution to our problems - the fed printing presses have created over 500bn pounds overnight, other governments will now follow suit. The idea to get you working for less (pay increases lag inflation) and erode the hugh debt levels (saver subsidise borrowers).
2. theboltonfury said...
and that is a fact is it?
3. matt_the_hat said...
What the fed creating $800bn overnight to by up securities, or interest rates held artificially low, or after a decade of hyperinflation in asset prices (houses) all governments are warning about deflation (the restoration of normal asset price levels).
What fact there is not a fact - and this stuff does not come from prison planet.
4. rumble said...
Mth, pretty much agree. I'm calling stagflation. Pound being turned to toilet paper while people hoard the rubbish.