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Pm In Vow To Tackle Inflation

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http://www.yourlocalguardian.co.uk/news/na...e_inflation.php?

PM in vow to tackle inflation

9:31am today

The Government will "get to grips" with inflation to ensure the economy continues to grow, Prime Minister Gordon Brown said on Friday.

Interest rates rose for the fifth time in less than a year on Thursday, up from 5.5% to 5.75% - hitting a level not seen since March 2001.

Mr Brown said he spent the last 10 years as Chancellor making sure the economy is stable.

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Brown was interviewed on ITV 10.30 news last night. When he was asked about housing, inflation, etc, his reply mentioned only rising oil prices - which are comfortably back up over $70 -

http://newsvote.bbc.co.uk/1/shared/fds/hi/...welve_month.stm

We're being prepared for a crunch which will be based on oil prices. Still like to know how he's going to tackle inflation. He can't very well rebase CPI. If he changes the mandate of the BoE to take more account of M4 or housing that will result in higher IRs - hence crash. Interesting stuff.

Edited by munro

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Guest Popalot
No comment.

http://www.yourlocalguardian.co.uk/news/na...e_inflation.php?

PM in vow to tackle inflation

9:31am today

The Government will "get to grips" with inflation to ensure the economy continues to grow, Prime Minister Gordon Brown said on Friday.

Interest rates rose for the fifth time in less than a year on Thursday, up from 5.5% to 5.75% - hitting a level not seen since March 2001.

Mr Brown said he spent the last 10 years as Chancellor making sure the economy is stable.

Chameleon Brown is positioning himself to pull off the ultimate Houdini - "Who dear, me dear, no dear...how very dare you...it was all Tony's fault dear...." (Or should that be Darling?!)

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Saw him interviewed on TV this morning - kept on about oil prices, but also interestingly said that we have to act now and nip increasing inflation in the bud - he kept referring to 10 or 15 years ago (he didn't seem wuite sure!) when rates were above 10% and hit 15%. He certainly seems to be trying to prepare peole for further rate rises. He did refer to the MPC being in control of rates so a sort of "I didn't do it!" type ground being laid.

I also remember in 2005 when for a few weeks Brown kept talking about "the house price bubble" before the rate drop IIRC - again, he seemed to be pretty quickly on the case then saying it was a bubble and therefore not his fault. I expect him to return to that "house price bubble" talk soon.

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iirc didn't the say guy say something about not letting house prices get out of control when labour first got in?

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Guest pioneer31

Funny how the media was full of bearish articles yesterday. I can't believe the turnaround in sentiment - it's as though the very people who revelled in ramping up the market, are now looking forward to bringing it down?!?!

By the way, how come the BoE have ONLY JUST decided that inflation needs tackling. I know it's the only thing in their remit but I've been convinced for a long time that they'v been trying to protect the housing market. All of a sudden we are hearing that 'pain is good' if that's what it takes to get inflation down. :blink:

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Guest Popalot
Why do I always think of:

Captain_Darling.jpg

:lol::lol::lol::lol:

It is beyond funny, that he has him as Chancellor....especially as Brown is such a Stephen Fry....in the nudge nudge wink wink way....

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Teletext report

Quote from article "The PM said he understood the "worries" people might have, but the Government would act early to avoid a repeat of 15 years ago when rates rose above 10%."

So will Gordo step in to stop rates rising above 10%? :rolleyes:

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No comment.

http://www.yourlocalguardian.co.uk/news/na...e_inflation.php?

Mr Brown said he spent the last 10 years as Chancellor making sure the economy is stable.

....re "Mr Brown said he spent the last 10 years as Chancellor making sure the economy is stable". .....this must be one of the sickest statements made in ten years..........!

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Brown was interviewed on ITV 10.30 news last night. When he was asked about housing, inflation, etc, his reply mentioned only rising oil prices - which are comfortably back up over $70 -

http://newsvote.bbc.co.uk/1/shared/fds/hi/...welve_month.stm

We're being prepared for a crunch which will be based on oil prices. Still like to know how he's going to tackle inflation. He can't very well rebase CPI. If he changes the mandate of the BoE to take more account of M4 or housing that will result in higher IRs - hence crash. Interesting stuff.

I remember a few months ago he was quoted as saying that so far high oil prices had failed to cause a recession - which he said had been the cause of past recessions. Just getting us ready to be able to say it's not his fault.

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There have been a lot of threads recently containing posts along the lines of 'Brown won't let house prices crash - he'll order the MPC to lower rates'

I see things completely differently. I think Brown personally loathes the sort of people who mortgage themselves up to the hilt and spend like there's no tomorrow. It's the antithesis of his own upbringing and I think he will be delighted to teach those people a lesson.

At the same time he will come riding to the aid of the 'working man' by changing the planning laws to allow the construction of thousands of low-cost homes.

The upshot of all this will be a crash in the housing market of epic proportions.

If you're a Chav who's just spent the last ten years spending the money you hope to earn in the next 30 years I've got news for you. Gordo wants to see you suffer :ph34r:

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There have been a lot of threads recently containing posts along the lines of 'Brown won't let house prices crash - he'll order the MPC to lower rates'

I see things completely differently. I think Brown personally loathes the sort of people who mortgage themselves up to the hilt and spend like there's no tomorrow. It's the antithesis of his own upbringing and I think he will be delighted to teach those people a lesson.

At the same time he will come riding to the aid of the 'working man' by changing the planning laws to allow the construction of thousands of low-cost homes.

The upshot of all this will be a crash in the housing market of epic proportions.

If you're a Chav who's just spent the last ten years spending the money you hope to earn in the next 30 years I've got news for you. Gordo wants to see you suffer :ph34r:

Well - that would be great if it were true, but Brown is unfortunately just a weasly con-man. Just like Blair, he says things just for popularity when he knows damn well it is meaningless. Currently, people's monthly outgoings right now at 5% is similar or greater than that when it was 10-15% in the 80's. And these out-goings won't be eroded by inflation, unlike the 80's. He knows that his ship is sinking and he's just trying to extend his miserable existance in the top job as long as possible before he's swallowed up by the angry waters of discontent. He will call a quick election while he still has a chance of winning. He knows that after next year, it will be too late.

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If 'Gordo' sat down with me and convinced me this was in his mandate I would for the first time (and this is against all my principles) vote for him.

However, considering he has led the example of MEW, (Gold sell off, pension steal) then I instantly find myself not trusting a word he says.

He was after all the disciple of 'no more boom and bust' therefore if he is to teach the 'chavs' a lesson surely these words shall come back to haunt him? The alternative thought is perhaps he is trying to gain a moral high ground and insinuate most of the boom years were down to the Blair years (which in theory they were of course)? I guess going on the lack of nouse in the UK these days the public will probably swallow that and kindly forget who was chancellor for the past 10 years? (Chancellor whats a chancellor chav???)

Go on then Mr Brown prove me wrong :huh:

There have been a lot of threads recently containing posts along the lines of 'Brown won't let house prices crash - he'll order the MPC to lower rates'

I see things completely differently. I think Brown personally loathes the sort of people who mortgage themselves up to the hilt and spend like there's no tomorrow. It's the antithesis of his own upbringing and I think he will be delighted to teach those people a lesson.

At the same time he will come riding to the aid of the 'working man' by changing the planning laws to allow the construction of thousands of low-cost homes.

The upshot of all this will be a crash in the housing market of epic proportions.

If you're a Chav who's just spent the last ten years spending the money you hope to earn in the next 30 years I've got news for you. Gordo wants to see you suffer :ph34r:

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Saw him interviewed on TV this morning - kept on about oil prices, but also interestingly said that we have to act now and nip increasing inflation in the bud - he kept referring to 10 or 15 years ago (he didn't seem wuite sure!) when rates were above 10% and hit 15%. He certainly seems to be trying to prepare peole for further rate rises. He did refer to the MPC being in control of rates so a sort of "I didn't do it!" type ground being laid.

I also remember in 2005 when for a few weeks Brown kept talking about "the house price bubble" before the rate drop IIRC - again, he seemed to be pretty quickly on the case then saying it was a bubble and therefore not his fault. I expect him to return to that "house price bubble" talk soon.

He let em rise and now hes gonna make em fall. Thats how it seems to me anyway.

Referring to rates being above 10% is scaring the public ;)

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Well - that would be great if it were true, but Brown is unfortunately just a weasly con-man. Just like Blair, he says things just for popularity when he knows damn well it is meaningless. Currently, people's monthly outgoings right now at 5% is similar or greater than that when it was 10-15% in the 80's. And these out-goings won't be eroded by inflation, unlike the 80's. He knows that his ship is sinking and he's just trying to extend his miserable existance in the top job as long as possible before he's swallowed up by the angry waters of discontent. He will call a quick election while he still has a chance of winning. He knows that after next year, it will be too late.

I honestly think you couldn't be more wrong. I doubt Brown has ever been popular in his life. I'm sure that Blair's pathetic desire to be popular was one of the things Brown hated most. IMHO he won't ever do something to make people like him because popularity to him is synonymous with the Blair approach. This is a man who believes in prudence and austerity. Lots of people on here blame Brown for the increases in the money supply but all they do is display a staggering ignorance of how the money supply expands. RB is constantly chanting the mantra about Brown 'printing' money. The fact is that it is Banks lending money that increase the money supply. Just because interests rates are low doesn't mean you have to borrow money at low rates and blow it all on overpriced houses and a chav lifestyle. There are plenty on here who haven't done that and I would categorise those people as the ones that Brown will look to help. He will authorise the building of thousands of homes before too much longer that all the patient FTBs will be able to buy at a fraction of current 'values'.

He'll be wearing a smile of grim satisfaction when all 'Blair's people' find that Gordo has pulled the rug from under their feet

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He let em rise and now hes gonna make em fall. Thats how it seems to me anyway.

Referring to rates being above 10% is scaring the public ;)

....he is like a dazed boxer staggering in the ring.........

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I honestly think you couldn't be more wrong. I doubt Brown has ever been popular in his life. I'm sure that Blair's pathetic desire to be popular was one of the things Brown hated most. IMHO he won't ever do something to make people like him because popularity to him is synonymous with the Blair approach. This is a man who believes in prudence and austerity. Lots of people on here blame Brown for the increases in the money supply but all they do is display a staggering ignorance of how the money supply expands. RB is constantly chanting the mantra about Brown 'printing' money. The fact is that it is Banks lending money that increase the money supply. Just because interests rates are low doesn't mean you have to borrow money at low rates and blow it all on overpriced houses and a chav lifestyle. There are plenty on here who haven't done that and I would categorise those people as the ones that Brown will look to help. He will authorise the building of thousands of homes before too much longer that all the patient FTBs will be able to buy at a fraction of current 'values'.

He'll be wearing a smile of grim satisfaction when all 'Blair's people' find that Gordo has pulled the rug from under their feet

You say this as if Brown is a new arrival. The economic 'prosperity' under Blair was of Brown's making. But is is a house of cards built upon a massive injection of credit. It is not sustainable, and must sooner or later implode. He now has to endure the 'bust' cycle, but to portray this as heroic Brown - the savior of the FTB is slightly wide of the mark, I think.

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I dont remember Blair ever talk about housing or the need for affordable housing, it just wasnt an issue

or something anyone was supposed to talk about.

Now Brown is PM, its all of a sudden one of the main issues.

I think Brown knows the crash is coming, there is nothing that can be done to stop it, so he may as well make out

its something he wants and its good for the country.

All those people who will bleat that its unfair house prices are going down, he will turn a blind eye to.

Blind eye to, get it, boom boom.

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You say this as if Brown is a new arrival. The economic 'prosperity' under Blair was of Brown's making. But is is a house of cards built upon a massive injection of credit. It is not sustainable, and must sooner or later implode. He now has to endure the 'bust' cycle, but to portray this as heroic Brown - the savior of the FTB is slightly wide of the mark, I think.

What I'm saying is people are badly mistaken if they think Brown will try and save those who have overborrowed over the last 10 years in a bid to make himself popular. He's already been compared to Stalin. I don't think you'll find Stalin tried to win any popularity contests.

Brown wants to deal out righteous retribution to the sinners. Picture him as Samuel L Jackson in Pulp Fiction:

The path of the righteous man is beset on all sides by the iniquities of the selfish and the tyranny of evil men. Blessed is he, who in the name of charity and good will, shepherds the weak through the valley of darkness, for he is truly his brother's keeper and the finder of lost children. And I will strike down upon thee with great vengeance and furious anger those who would attempt to poison and destroy my brothers. And you will know my name is the Lord when I lay my vengeance upon thee

Cue gunshots.. :ph34r:

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Gordo step in to stop rates rising above 10%? :rolleyes:

He will never need to. The levels of debt are such that the country will collapse at about 7.5% :blink:

He's a genius, an absolute genius.* He has kept rates artificially low to keep the economy going. When it all goes Tango Uniform he can claim that IRs were some of the lowest ever seen, while on his watch, and therefore the recession is not his fault.

*not sarcasm, by the way.

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I think Brown personally loathes the sort of people who mortgage themselves up to the hilt and spend like there's no tomorrow. It's the antithesis of his own upbringing and I think he will be delighted to teach those people a lesson.

A similar point came out in the recent Andrew Marr documentary series: Thatcher passed the enabling legislation on which the subsequent British debt miracle was built (a miracle that continues to this day) and then watched in dismay at the credit binge and conspicuous consumption, which went against her own Puritan values.

Give 'em freedom and watch as they do stuff you hate :)

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iirc didn't the say guy say something about not letting house prices get out of control when labour first got in?

Indeed.

I've got the quote in my sig. as I think it beautifully highlights the hypocrisy of the guy.

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