Saturday, Oct 17, 2009
BOE soon to be left with egg on their faces
Telegraph: Those once called bonkers now point to where the madness lies
A fairly one-sided argument about the UK not entering deflation any time soon. Mostly blaming the new money and banks releasing the spigot and suggesting that there isn't as much of an output gap as economists think there is. Might be right.
Posted by fallingbuzzard @ 10:59 PM (579 views) Add Comment
5 Comments
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1. Tpbeta said...
"But we've been proven right. September was the low-point for the UK's CPI – and it's still a long way from zero."
Err how does he know it's the low point? Embarrassing.
2. devo said...
Fascinating.
Print more money: bonkers
or,
Cut public spending: bonkers
I now know the true meaning of the cliché 'between a rock and a hard place'.
3. fallingbuzzard said...
Its simple. The later you cut, the higher taxes will have to rise to justify the currency. Lots of scope though, I think it just needs to switch to the French system and all the problems will be gone.
4. devo said...
I want all our problems to be gone. What's the French system?
5. fallingbuzzard said...
Tax take of 46% of GDP. Impressive moneygrabbing by the state soon needed here. Its no wonder that many of our younger continental friends choose to work in London. France still manages to run a Brown-sized deficit though