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Bank's Posen Sees Inflation Down By Summer 2012

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http://uk.reuters.com/article/2011/09/18/uk-britain-posen-idUKTRE78H0M620110918

Bank of England policymaker Adam Posen said on Sunday he expected Britain's inflation rate to fall by the summer of 2012, and that interest rates would remain at a record low level.

Posen, who repeated his long-standing call for more asset purchases, also warned a failure to solve the debt crisis in the euro zone would hit Britain hard, and that the Bank was working to assess any impact.

"I've been saying since ... last year that (inflation) would peak some time ... this year, and I've been saying it would come down by summer 2012, and we're on track for that," Posen told Sky News.

Inflation stands at 4.5 percent, twice the Bank's target, but Posen said that because wages were not growing and export prices had stopped rising due to sterling's stability, it was not a problem.

"I don't really see the inflation threat. If inflation were to get bad it's pretty easy for us to take it down," he said.

"These temporary moves in inflation, while they're real for British households, they're not a good forecast for what we have to do for the economy as a whole."

So we are going solve the debt crisis by printing more money. He's an expert who knows what he's talking about.

At least inflation is easy for them to stop......

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http://www.nytimes.com/2011/09/18/business/economy/adam-posen-presses-central-banks-to-act-more-aggressively.html?_r=1&ref=business

And, as a leading expert on what is often called Japan’s lost decade, he is particularly worried that the Federal Reserve in the United States and the European Central Bank are making the same monetary policy mistakes that left Japan’s once-robust economy stagnant all through the 1990s and even into the 21st century.

For months now, Mr. Posen — who got his bully pulpit at the Bank of England by answering an ad in The Economist — has been warning that policy makers in Washington and in Europe have been too optimistic about how quickly the global economy would recover from the financial crisis.

The joint action by central banks on Thursday to make it easier for weak European banks to borrow dollars is no doubt a policy nod in Mr. Posen’s direction, but it is still a far cry from the type of unified bond purchasing program, or quantitative easing, that he is advocating.

The global economy is indeed lucky we've got the Bernanke who's an expert on the 30's depression and probably his entire work focussed on the US and we've also got Posen who's an expert on Japan.

It's like we've got an academic dream team.

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At least inflation is easy for them to stop......

I might get worried and take action, if it wasn't. Phew.

Edited by Mixle

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http://uk.reuters.com/article/2011/09/18/uk-britain-posen-idUKTRE78H0M620110918

So we are going solve the debt crisis by printing more money. He's an expert who knows what he's talking about.

At least inflation is easy for them to stop......

I'm surprised they make such bold statements. Aren't they afraid how stupid they might look if they are wrong? Sure they look smart if they're right but still...

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There's an assumption that any reduction in Western economic activity will automatically trigger big falls in energy/ food/ commodity prices and hence give us leeway to print without consequence. This is patently rubbish and we can see it playing out right now both in the indices and the markets.

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"I don't really see the inflation threat. If inflation were to get bad it's pretty easy for us to take it down," he said

It's so easy to target that they've missed their target pretty much since they took over the job and now their deviation from target is getting larger and larger. They didn't meet target even in the early days of their control when the causes of inflation/inflation wasn't supposed to be a significant problem.

If it was that easy even the government would have been able to do it during the periods when inflation got well out of control for example during the late 80s and early 90s.

Their lies are just so glib and blatant.

Edited by billybong

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Bank of England policymaker Adam Posen said on Sunday he expected Britain's inflation rate to fall by the summer of 2012

Round spherical objects!

From the BoE's 2009 predictions:

The inflation report estimated that UK economic growth would be close to 4% by the end of 2011. This is higher than the Bank predicted three months ago, despite data last month which showed the UK was still in recession.

The Bank expects to inflation rise above its 2% target in the next few months, but to then fall back below that level throughout the rest of 2010 and 2011.

LINK

Growth at 4%, inflation falling back to 2%. Yes, they really are very good at predicting these things aren't they. It's uncanny. Almost spooky.

129069867644019597.jpg

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They know their own forecasts are bullsh!t because they write them in the first place.

It's one massive deceit. One the mainstream media dare not touch.

Ultimately it's not what happens within the UK that the BoE or HM Treasury are concerned with - since 2007 it's a global financial conflict which is only starting to bubble to the surface. Great Britain v. All.

Edited by Chuffy Chuffnell

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Are these the same people who never saw 'it' coming.

Propaganda for the masses. Meaningless jam tomorrow prediction, with no future cost to Mr. 'I'm alright Jack' Posen.

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I'm surprised they make such bold statements. Aren't they afraid how stupid they might look if they are wrong? Sure they look smart if they're right but still...

It worked for Joseph Goebbels, Comical Al, and the Emperor with new clothes...

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The global economy is indeed lucky we've got the Bernanke who's an expert on the 30's depression and probably his entire work focussed on the US and we've also got Posen who's an expert on Japan.

It's like we've got an academic dream team.

It is the dream time for the elites. They get wealthier while the masses are being impoverished.

book.jpg

post-15752-0-39179500-1316448501_thumb.jpg

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If you look back you will se that Adam Posen also told us that inflation will fall in 2011, and 2010 and 2009 anybody spot a trend there?

You can tell he's l*ing whenever he moves his lips?

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  • 337 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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