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Patrick Hosking In The Times On Saturday

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This has probably been mentioned elsewhere on here, but what is it with the Times. Not only are they, in my opinion, the worst rampers of the property market, they are also ramping the broader economy.

Hosking detailed "20 reasons to be cheerful".

I don't have time to deconstruct every one of his points, but of particular note:

1. He says the FTSE is a better indicator of UK economic growth than historical GDP. This is bollocs.

2. He applauds the spectatular low interest rates many households now face, ignoring the destruction to those living off savings.

3. He mentions house prices are rising.

4. Foreign investors apparently love UK gilts. I think he is forgetting the banks re-purchase scheme underwriting short end gilt issues.

5. Apparently inflation is a far lesser evil than deflation, and the risk of inflation not deflation is a cause to celebrate.

This guy is a complete moron and the Times should be ashamed of running with this piece.

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