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House Price Crash Forum


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Posts posted by InternationalRockSuperstar

  1. To be fair, it could be argued that inflation targeting has never worked.

    to effectively target inflation you'd need to target central banks, gov't treasury depts and fiat i.e. get rid of them.

    It's about time they declared price index targeting a failure

    actually, it's been a resounding success: those that pedal and impose this ******** monetary system on us are making off with trillions.

  2. ...

    When these countries chose not to store their assets in dollars, ie they sell their US Treasuries, then the dollar has a big problem. Mind you, that is probably what the US needs right now, a weaker dollar will help its export industries.


    a bunch of oligarchs using a printing press to steal wealth from the productive does not help export industries.

  3. Are you talking about the environmental cost of Norwegian oil outweighing its profits in the long run (global warming etc.)?

    no, I'm saying that leaving the oil in the ground would be worth more than financial assets for which it has been exchanged.

    e.g. google Norway Central Bank Sues Citigroup.

    Because I'm pretty sure the Norwegian state pension fund does have billions in it

    and would have billions more if they'd just left the oil in the ground!

    and is the property of the people of Norway.


  4. I thought about ti too when I visited family in Canada. Saudi Arabia has probably less export revenue from resources than Canada, and is able to deliver the same public services.. but with no income tax, no sales taxes, no capital gains.

    but they do deny the populous access to natural resources using threats of violence.

  5. I agree.

    Prime example being money earned from North Sea oil reserves.

    The money we earned from this just got put into the treasury black hole. Norwary, by comparison, isolates the money earned from their oil sales and puts it into a sort of "sovereign" trust fund. Its worth Billions.

    it's full of toxic crap, and is worth billions less than if they'd just left the oil in the ground!

  6. They say more money is borrowed to pay the interest, yet running a surplus would pay down the debt just as well. Ah, but then there is 'teh deflation!!!!!!' to worry about, right? So what is it to be?

    repudiate the debt and have a free market in money.

    Forget this 'debt free' money nonsense and start asking the government to stop borrowing and balance the budget. It's not rocket science.

    I don't really care whether the gov't p1sses away my money paying interest or p1sses it away on something else instead, I just wish they didn't steal my money in the first place!

  7. ah, now this is the one I was trying to find:


    21 December 2010



    Despite all the rhetoric and promised cuts in spending by the newly elected coalition, the hard fact is that government spending and borrowing continue to soar – and look as if they are spiraling out of control. The following chart illustrates the magnitude of the problem as UK government debt nears £1 trillion.


  8. from may 2009:



    In an investment newsletter called Money Morning on April 9, Martin Hutchinson pointed to disturbing parallels between current government monetary policy and Weimar Germany’s, when 50% of government spending was being funded by seigniorage – merely printing money


    In Britain, the Bank of England (BOE) is buying 75 billion pounds of gilts [the British equivalent of U.S. Treasury bonds] over three months. That’s 300 billion pounds per annum, 65% of British government spending of 454 billion pounds.


  9. He's all a bit shouty for my taste.

    Here on the other hand is a nobel prize winning economist effectively staking his reputation that core inflation is not going to happen in the US


    so what?

    Obama received the Nobel Peace Price in the same week that he increased the number of troops in Afghanistan!

    And given that the UK is pursuing a tougher line than the US, core inflation is even less likely here

    given that the UK gov't would rather impoverish its subjects than see banksters' bonuses go unpaid, inflation is a certainty and is happening now.

    and what 'tough line' are you on about anyway? tax receipts were only covering 55% of UK gov't expenditure, last time I heard, with the rest being printed.

  10. Woodrow Wilson was the guy who established the Federal Reserve and helped to steer the US economy towards the Great Depression. FDR was a relative progressive in comparison and he died before he could put into motion public healthcare (and the like).

    FDR was just as close to the banksters as Wilson was.

    In fact, FDR's uncle Frederic A. Delano even sat as a governor on the original Federal Reserve Board in 1914.

  11. I'm just a bit curious as to how housing cost weighting has increased by 20% over the past 10 years, when housing inflation has exceeded general inflation only marginally over the same timespan. Any ideas?


    Housing weighting up from 19.5% to 23%+, yet housing cost inflation was 3.7 versus 2.9. Just seems a little odd.

    maybe because RPI is just a number that a government statistician pulls out their ****?

  12. Deflation Japan style will be the ultimate outcome for the UK.


    Anyone see much in the way of inflation wage wise? Oh, apart from banksters.


    a hand full of oligarchs buy up all the resources using freshly printed cash, while joe 6 pack watches helplessly from the sidelines.

    they managed to price most people out of houses for the last 10 years. now they'll do the same for loaves of bread.

  13. A crash in lifestyle and expctations... how very convenient, something that is impossible to measure. It doesn't take a soothsayer to predict a downturn in lifestyle and expectations in the middle of a recession.

    Hmmm, Big Ger reckons unemployment statistics in 2010 were going to tell the real story.

    Well, guess what, the unemployment rate barely changed in 2010.


    Table A. Seasonally adjusted unemployment rates and changes due to

    revision, January - November 2010

    Year and month         As first           As           Change                         published        revised2010January ...............      9.7             9.7           0.0February ..............      9.7             9.7            .0March .................      9.7             9.7            .0April .................      9.9             9.8           -.1May ...................      9.7             9.6           -.1June ..................      9.5             9.5            .0July ..................      9.5             9.5            .0August ................      9.6             9.6            .0September .............      9.6             9.6            .0October ...............      9.6             9.7            .1November ..............      9.8             9.8            .0December..............      9.4


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