Monday, Jul 06, 2009
Imagined dangers can be as pernicious as real ones.
Times Online: Inflationary monster is just a bogeyman — there’s nothing to fear but fear itself
'In an economic environment fraught with uncertainty, we can be certain of two things: that this emerging inflation scare will become steadily more strident as the recovery takes firmer hold; and that the ensuing panic will prove to be a false alarm'.
'By next year, though, both inflation measures will unavoidably begin to climb as the past falls in energy costs and interest rates drop out of the sums. Adding to the upward pressure will be increases in VAT and petrol duty, which will add about 1.5 percentage points to inflation rates next year'.
Posted by tim miller @ 01:59 PM (249 views) Add Comment
1 Comment
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1. quiet guy said...
"The remaining perceived inflationary peril — unease that governments might deliberately stoke inflation to erode the real value of now enormous public debts — can also be largely dismissed. To achieve this, governments would have to wholly undermine the independence of central banks."
Thank goodness nothing like that might happen in our country.