Thursday, Oct 12, 2006

What planet are these guys on?!?

BBC: New MPC men see inflation falling

Cooling global oil prices should help reduce UK inflation in the coming months, according to the Bank of England's two new policymakers.

Posted by tyrellcorporation @ 04:15 PM (476 views)
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1. Tyrellcorporation said...

My friggin' car tax has just jumped to almost 200 a year - That's about a 15% rise and I wonder whether that gets into the 'basket-case of goods'...

Thursday, October 12, 2006 04:21PM Report Comment

2. Maggot said...

i read somewhere yesterday that opec would soon begin reducing the oil out put.i wonder wether or not this may be linked in some way to next months us elections.if the restbite in oil prices is only tempoary then hopefully a rebound in price would help heap misery on the ever increasing inflation

Thursday, October 12, 2006 05:00PM Report Comment

3. Nohpc said...

It would be a bit stupid to put things such as car tax in the basket case of goods to be honest. Increasing interest rates would not be able to stop inflation on that kind of thing.

Thursday, October 12, 2006 11:04PM Report Comment

4. Sheeda said...

Car insurance too up over 15% this year , inflation's still below 3% yeah right ......

Friday, October 13, 2006 08:24AM Report Comment

5. the bald man said...

I suspect manipulation of the energy markets. Last few months we were facing dire prodictions of global shortages. Now we seem to have a surplus. Hedge funds have lost a bundle on futures. ???

Friday, October 13, 2006 08:43AM Report Comment

6. sold 2 rent 1 said...

How interesting.

The Independent comes to the opposite conclusion.

New MPC members sound alarm on inflation

Friday, October 13, 2006 09:21AM Report Comment

7. inbreda said...

Amazes me that an INCREASE in oil prices seems to have had no effect, but now they're claiming that a fall in oil prices will reduce inflation.

This is clearly a new paradigm

House prices can only ever go up.

Inflation can only ever go down.

So long as everyone keeps believing, and ignores the fact that everything is more expensive.

Friday, October 13, 2006 09:38AM Report Comment

8. tyrellcorporation said...

...That's bizarre...

Friday, October 13, 2006 09:51AM Report Comment

9. Holding Out said...

It's interesting the way the same story can receive opposite headlines. Like most people I've always regarded the BBC as the best source of unbiased news particularly regarding foreign wars etc.. But it seems that they are determined to put a positive spin on the economy - particularly since Hutton.

Friday, October 13, 2006 10:08AM Report Comment

10. waitingfor hpc said...

Imbread spot on - this is bullshit. I work in Manufacturing - inflation is rife in the economy and at home for people.

Our savings are loosing ground - but gold is now so high.....

Friday, October 13, 2006 11:40AM Report Comment

11. bidin'matime said...

"In terms of inflation, there is the risk if we have continuing inflation above target that it does begin to feed into wage increases," said Mr Sentance.

Maybe the BBC should have read the piece before writing the headline...

Friday, October 13, 2006 01:33PM Report Comment

12. inbreda said...


If we have continuing inflation then wage increases become a necessity - what else do they think will happen?

Friday, October 13, 2006 06:39PM Report Comment

13. indiablue19 said...

So let me get this straight. According to the articles I've just read on this site, and according to the BOE and government and banking policy the great thing about the UK economy is low interest coupled with NO INFLATION because I can buy a house I really can't afford and if the bankers lend me the money and I can't pay then that's tough for them; meanwhile I will NOT be capable of paying at some point because somehow, despite lack of inflation, utilities are going up, food is going up, clothing/up, council taxes/up, insurance costs/up, bus fare/up, cab fare/up, postage/up, school fees/up, child care fees/up, in fact everything/up, however because they don't recognize these increases neither should I even though I can't pay my mortgage anymore because of them. Which leads us to the next point that, to give a hand to the BOE who started all this insanity in the first place with nearly interest-free money and all the extra funny money that was printed besides, I will not ask my boss for a raise; because my perceived need to pay a higher mortgage and bills is just all in my head. However if I don't meet all of these mythological bills I will lose my home. Right.

Friday, October 13, 2006 10:41PM Report Comment

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