scottbeard Posted January 18, 2011 Share Posted January 18, 2011 Five live breakfast show about 7.15 this morning had an article where a reporter compared prices in Bedford to a year ago for bread, petrol, beer and houses and concluded - all rising sharply apart from houses which are falling - his rather small "basket" of goods was up 9% - led him to question whether CPI/RPI understate true inflation (with a man from the ONS defending CPI/RPI as they also include bigger ticket items like electricals which have fallen in price) (An antidote too to those who say the BBC is all lies and spin ) Quote Link to comment Share on other sites More sharing options...
Bob Loblaw Posted January 18, 2011 Share Posted January 18, 2011 Seems to have been a sea change in the way the BBC report since the coalition came into power. When Labour were in power the BBC (and 5live in particular) put a positive spin on everything. Now the coalition are in charge it seems the BBC has no difficulty in reporting bad news. Wonder why that is. Quote Link to comment Share on other sites More sharing options...
thod Posted January 18, 2011 Share Posted January 18, 2011 The trick is in the cleaning up or normalization of the data. This allows you to obtain any result you wish. If bread is up but ipods are down, you drop bread and add ipods to the index. Next month you reintroduce bread with the new price as the base price. I recall when labour first came to power when they sacked half the ONS staff to teach them a lesson and rid it off those with any backbone. It is no longer a statistics organisation, it is propaganda machine which no respectable statistician would support. They have every reason to downplay inflation with all those index linked bonds out there. Quote Link to comment Share on other sites More sharing options...
JustAnotherProle Posted January 18, 2011 Share Posted January 18, 2011 The cognative dissonance is amazing, only this morning, dozy blonde bint #23443 stated, quite clearly in front of millions, that " House prices are going up in the spring, which is *good* for the economy"; Eamon , bless his grinning face, did happen to comment " Well, it's not good for first time buyers...", at this point they both looked very uncomfortable and bemused, like when you are at a formal family gathering and old granny farts loudly and it smells so much you can't ignore what has just transpired but you try......oh you try to pretend all is well.. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted January 18, 2011 Author Share Posted January 18, 2011 When Labour were in power the BBC (and 5live in particular) put a positive spin on everything. Now the coalition are in charge it seems the BBC has no difficulty in reporting bad news. Wonder why that is. Hmm...that's a fair point The trick is in the cleaning up or normalization of the data. This allows you to obtain any result you wish. If bread is up but ipods are down, you drop bread and add ipods to the index. Next month you reintroduce bread with the new price as the base price. Well you COULD maniuplate it that way - but do they? The weightings are all public - have you actually analysed them, or are you just guessing that this is what they do? Quote Link to comment Share on other sites More sharing options...
eric pebble Posted January 18, 2011 Share Posted January 18, 2011 The cognative dissonance is amazing, only this morning, dozy blonde bint #23443 stated, quite clearly in front of millions, that " House prices are going up in the spring, which is *good* for the economy"; Eamon , bless his grinning face, did happen to comment " Well, it's not good for first time buyers...", at this point they both looked very uncomfortable and bemused, like when you are at a formal family gathering and old granny farts loudly and it smells so much you can't ignore what has just transpired but you try......oh you try to pretend all is well.. Jeez........... It is absolutely SICKENING that she is allowed to get away with that..... Quote Link to comment Share on other sites More sharing options...
Pauly_Boy Posted January 18, 2011 Share Posted January 18, 2011 Jeez........... It is absolutely SICKENING that she is allowed to get away with that..... Yeah, this was sky news at about 0630, emnon Homes hits me as a best, but the drop dead gorgeous bird was like 'high house prices are good'. I can only guess that daddy has bought her a house! Quote Link to comment Share on other sites More sharing options...
cica Posted January 18, 2011 Share Posted January 18, 2011 The BBC still do some seriously frustrating things though... Who is most affected by rising prices?The key is to consider inflation alongside wages and interest rates. At present, interest rates are at a record low. With the Bank rate at 0.5%, savings are not gaining in value very much. This particularly hits those who have not moved their savings around to get a better rate of interest. Last week, the consumers' association Which? said 87% of savings accounts that were available six years ago were now paying interest rates of 0.5% or less, while 62% were paying 0.1% or less. But even those who are chasing better rates are facing an uphill struggle. Savings aren't gaining at all with this inflation. They can't just say that there is an increasing transfer of wealth away from savers and even blame it on a lack of pro-activeness of savers. Quote Link to comment Share on other sites More sharing options...
ken_ichikawa Posted January 18, 2011 Share Posted January 18, 2011 (An antidote too to those who say the BBC is all lies and spin ) Don't worry he'll be dead soon. Quote Link to comment Share on other sites More sharing options...
ken_ichikawa Posted January 18, 2011 Share Posted January 18, 2011 Well you COULD maniuplate it that way - but do they? The weightings are all public - have you actually analysed them, or are you just guessing that this is what they do? What they claim in public is quite often NOT the reality on the ground. In Beijing's museums which feature heavily the Chinese civil war and revolutions, China makes bold and strong claims to being a full democracy. While it says Chen Kai shek was a fascist. North Korea also calls itself a democracy..... so if they claim it, does it mean it is true? Of course not. They claim to do one thing but do something else completely. Quote Link to comment Share on other sites More sharing options...
ken_ichikawa Posted January 18, 2011 Share Posted January 18, 2011 The BBC still do some seriously frustrating things though... Savings aren't gaining at all with this inflation. They can't just say that there is an increasing transfer of wealth away from savers and even blame it on a lack of pro-activeness of savers. I moved a bunch of my savings. I turned it into shotguns food, panel wipe (fuel) weapons and shiny shiny Quote Link to comment Share on other sites More sharing options...
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