Thursday, December 6, 2007

Sounds familiar! INFLATION is on it’s way to the UK…

Rising food prices upset China's shoppers

It is a crisis that may be far worse than the government is letting on, according to Dr He Fan of the Chinese Academy of Social Sciences "In the eyes of ordinary people, the official inflation figure is far from the real picture," he says. "Lots of other important things are being left out. There's been a rapid rise in the cost of housing too. People are worried."

Posted by tyrellcorporation @ 02:09 PM (661 views)
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4 thoughts on “Sounds familiar! INFLATION is on it’s way to the UK…

  • george monsoon says:

    Inflation is already here, never mind on its way.
    15% on gas, other fuels up exponentially in the last 12 months… Council tax up, income tax up, food up….

    The government must be doing this by design. How else can they TRY to preseve the economy, unless they inflate themselves out of debt! Nice idea, but won’t work because employers are not taking on the requests for wage rises.
    Im just glad to be in a job at the moment, even if it is working for an American company!
    As for the article which states that the Chinese people do not believe that the real inflation figure is anything like the government issued figure..

    I don’t understand the economics that much, but I smell a Rat.

    hypothetically…

    (Government) ” We have tried and failed to sustain growth in the country, but it has run its course and we are seeing the housing market peak.”, to top that we have inflation running out of control.

    (advisor) “feed the public low inflation figures, they are not stupid enough to believe that inflation is really that low, but if you broadcast your “concern” at the 0.2% increase above the 3% target, then they might swallow it long enough for inflation to de-value the debt mountain…

    (Government) – “but inflation is above 10%, all the banks and financiers are aware of this, how do we keep them happy?

    (advisor) – “play the interest rates and relax any lending rules the banks have, to keep them off your back”

    (Government) – “Sweet!….now shall I assume that you are a bum kisser of the highest order?

    (advisor) – “You might think that Prime Minister, but I couldn’t possibly comment…..”

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  • Politicians are only really interested in winning elections. The govt will do anything to delay the bust just long enough to coincide with a woldwide downturn because they’ll be able to blame it on someone else (just like they’re blaming the housing ‘slowdown’ on the Americans. The average voter will believe the government’s line as long as it’s basically plausible and it fits in with their prejudices.

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  • tyrellcorporation says:

    Cyril, absolutely, Brown is already pinning all his problems on US subprime fallout. His personal list of balls-ups is too long to list on this blog.

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  • TC- “His personal list of balls-ups is too long to list” ASO-bloody-LUTELY!! but it just highlights the incompetence/complicity on both sides of the house that the opposition parties( disgruntled back benchers) aren’t making hay with his dismal record. Look around who is a credible replacement for Incapability B?

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