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Cameron 'not Happy' With High Inflation

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http://www.bbc.co.uk/news/business-15511803

Prime Minister David Cameron has told the BBC he is "not happy" about high inflation and has "every sympathy" for families struggling with tight budgets as prices continue to rise.

But he said the Bank of England believed the factors behind price rises were largely temporary and external.

He said it was up the Bank to ensure the inflation rate fell back.

He added it was important the European single market was protected as eurozone members looked towards closer union.

'Rising prices'

"I am acutely conscious that families up and down the country have tight budgets," the prime minister told the BBC's Andrew Marr Show in Perth, Australia, where the heads of the Commonwealth states have been meeting.

He said a weakening sterling - which makes imported goods more expensive - and higher food prices were two factors behind the rising inflation rate, which currently stands at 5.2%, as measured by the Consumer Prices Index.

...

Mr Cameron said that while it was the Bank's job to control inflation, the government had frozen council tax payments and cut fuel duty to help combat rising prices.

And yet he's given the green light to print more funny money that will further inflation, and the prospect looms that even more free money will be created compounding the issue further.

Still at least the PM is a multimillionaire he has very little to worry about.

And Mystic Merv has been doing a wonderful job screwing the public for past several years, still lucky for Merv this isn't a football chairman vote of confidence as no matter how badly Merv fails he won't be sacked.

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Camoron knows his future consultancies will more than cover his personal inflation. Just like they have for Tony Bliar.

British PMs are whores.

Office costs and a Jaguar (owned by Tata who are one of Camoron's current advisors!)

Who is he? The 54-year-old former prime minister is an adviser to the UN, US, Russia and UK on the Middle East peace process, and friend to big business and luxury car brands. A year's earnings can top £10m.

How did he make his millions? His premiership began in 1997, earning him £180k a year. The Hay Group ranked him Europe's worst-paid leader, given the scale of his job. Since he quit last year, his earnings have soared. He is an adviser to JP Morgan (£2.5m p.a.) and Zurich Group (£2m p.), and scored a £4.6m advance for his memoirs. Then there's an estimated £1m annually from speaking engagements, £900k office costs (taxpayer-funded) and the £64k pension. The mortgage on that £3.5m Connaught Square townhouse suddenly seems like peanuts.

The secret of his success? His time as world statesman has given him an invaluable contacts book - hence the consultancy contracts, and the pre-release XF sportscar from Jaguar

http://www.managementtoday.co.uk/news/786798/made-pile-Tony-Blair---Statesman-large/?DCMP=ILC-SEARCH

Edited by Redhat Sly

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B)He is just politicking to pretend he is identifying with the voters.

What gives a multi millionaire the right to feel he understands how hard it is for normal working folk?! very patronising! :angry:

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He said a weakening sterling - which makes imported goods more expensive - and higher food prices were two factors behind the rising inflation rate, which currently stands at 5.2%, as measured by the Consumer Prices Index.

How much credibility does this argument have? Is the 'weakening' of sterling significant enough over the last 12 months with other major currencies; to an amateur observer, the exchange rate with USD and Euro have not changed much at all in this period.

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He said a weakening sterling - which makes imported goods more expensive - and higher food prices were two factors behind the rising inflation rate, which currently stands at 5.2%, as measured by the Consumer Prices Index.

How much credibility does this argument have? Is the 'weakening' of sterling significant enough over the last 12 months with other major currencies; to an amateur observer, the exchange rate with USD and Euro have not changed much at all in this period.

More to the point surely the BOEs brief is to control inflation........not only to control certain types of inflation.

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So wtf did you hike VAT then you p1llock?

It's like the chuckle brothers are in charge

Edited by Red Knight

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So wtf did you hike VAT then you p1llock?

Because the country is running a Greek-style deficit, and bad things happen if that is allowed to go on for too long?

What I want to know is why it makes sense to print another £75E9 in these circumstances.

Edited by MongerOfDoom

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What gives a multi millionaire the right to feel he understands how hard it is for normal working folk?! very patronising! :angry:

What's he supposed to say? "I'm a priviliged multi-millionaire therefore I don't know or care about the impact of inflation"?

It's his job as PM to say he understands what normal working people are going through, and you don't have to have been financially stretched to empathise with those who are. Every PM of every variety and alligence would do the same.

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He's not happy what the fk does he think most of the rest of the population are ?

Too busy with X-Factor, the cult of the smart phone, and other trivial distractions to care.

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He is just politicking to pretend he is identifying with the voters.

+1 He's a politician, all mouth no trousers.

If you were to ask him what he intended to do about it I'm sure he'd spout all sorts of reasons why somebody else was stopping his good intentions being implemented and he, as Prime minister, was powerless to do anything about it.

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I don't care what politicians say, I care what they do.

Exactly and this lot are, unbelievable as it is, more socialist than the last bunch of morons, they say cuts and then spend like there's no tomorrow, they say they are unhappy with the high inflation and in the next breath that its in the capable hands of the BoE (undertones of thanks gordo, nice excuse racket there)

You either believe in freemarket capitalism or you believe in socialism, so what is Mr Brown Blair Cameron (its hard to tell which is which they all seem to blur.

Edited by zebbedee

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Inflating quite deliberately? Perish the thought

Of course he cares about inflation.

He cares that we have as much of it as is feasible before the house falls in.

Inflation is their Plan A, just like Bankruptcy is Ed Ball's Plan

I think they have taken a view that it is better to sacrifice a generation and specific (weak) sections of the society (the young and dispossessed and asset poor pensioners) than to upset asset rich 35-60 year olds who all three parties see as their main constituency.

The underclass dont vote and dont care as long as they have enough for alocpops and weed, Trade unions only give a toss about middle class pen pushers who are a shoe in for labour anyway as their votes were bought and paid for (or rather bought and we and our children will pay for) long ago

Homeowners are the only large voting body left for the tories to go for, so they have to please them. They obviously think Inflation will help. Shame nobody is telling the world that we in the UK need inflated receipt payments for our output as well as inflated spending liabilities.

Weird really, but it will be the world's Financial markets who will come to our aid. Of course they will also get the blame also.

In about one year max the world's markets will start a run on Sterling and start to require more interest for lending us their money for our £ gilts. Of course we will have no domestic savings and will still be paying a massively bloated public sector so no surplus.

This, (in the long term and after a very many years of pain) will sort out the chronic mismatch between wealth and money that has occurred in the last ten years.

Of course the five million unemployed and everyone else will blame capitalism and the financial markets. This crisis was created and fostered by a greedy populace, and an even greedier and gutless sucession of governments and central bankers.

The boom from house price inflation could, and should (as in every other receession since the war) been cured by a proper de-leveraging, a few years of pain and a clean slate. Oh no, this time they went for printy printy just like Weimar and every third world basket case that ever existed. It NEVER WORKS!

Printing money is borrowing!

You can not borrow yourself out of debt.

If you are going to borrow at all, borrow to build something, not to retain standards of living that were clearly not affordable to start with.

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Too busy with X-Factor, the cult of the smart phone, and other trivial distractions to care.

Oh give it a rest ,

Trotting out this old line

" the public are too busy with x-factor ect has been done to death "

Maybe if you stopped thinking the general public are all fools and that many are now waking up you can lay that line to rest where it belongs.

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Exactly and this lot are, unbelievable as it is, more socialist than the last bunch of morons, they say cuts and then spend like there's no tomorrow, they say they are unhappy with the high inflation and in the next breath that its in the capable hands of the BoE (undertones of thanks gordo, nice excuse racket there)

You either believe in freemarket capitalism or you believe in socialism, so what is Mr Brown Blair Cameron (its hard to tell which is which they all seem to blur.

Superb, +1

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neither am I. But unlike me, being the elected leader of our country I would have thought he would be in a better position than me to do something about it.

But as we all know now, he's about as effective as a catflap in an elephant house.

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neither am I. But unlike me, being the elected leader of our country I would have thought he would be in a better position than me to do something about it.

But as we all know now, he's about as effective as a catflap in an elephant house.

Exactly, it's comments like these that make you realise they are not in charge, the buck stops somewhere, but not with him it seems.

Like most, I don't believe a word they say, platitudes just roll off their tongues, no wonder they can never answer a straight question.

Perhaps he could tell us what he would be happy with.

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Prime Minister David Cameron has told the BBC he is "not happy" about high inflation and has "every sympathy" for families struggling with tight budgets as prices continue to rise.

Talk is cheap David.

(About the only thing that still is.)

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He's not happy with high inflation.

He's not happy with the shortfall in government finances.

So Mervy prints another £75 billion to pay of the shortfall in government finances and keep interst rates low.

What needs to happen is the government borrow its money at realistic financial rates from the financial markets. Not just buy its own debt from using the QE tool.

The tactics should be

1. Put up interest rates.

2. Stop QE

3. Increase the austerity measures

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  • 284 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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