+ + + CPI up to 5.2% + + +
RPI 5.6%, CPI 5.2% PPI 17.5%, – the great inflation swindle is underway.—
Guido Fawkes (@GuidoFawkes) October 18, 2011
A warning…
Getting to Know U-KIP | ConservativeHome
Farage Telegraph Advert | Political Scrapbook
Cameron’s Leadership in Trouble | Tim Montgomerie
Tories Need to Behave Like a Governing Party | Lord Ashcroft
Dave’s Mates Do Hate the Grassroots | Melissa Kite
Dave Can’t Rely on Party For Loyalty | Tim Bale
If Dave Were President He’d Have Resigned By Now | Alex Wickham
Loongate: What Happened in the Blue Boar Bar | Simon Walters
Feldman’s Tennis Days With Dave | Telegraph
How Geoffrey Howe Has Lost the Debate | Robin Shepherd
Dave Has Lost Control on Europe | Geoffrey Howe
 |
 |
 |
 |
 |
 |
Tom Harris bemoans the public’s attitude to politicians…
“Mr Oborne echoes the lazy, anti-politics whine we hear so often these days, all based on the absurd notion that politicians were once loved and only fell out of public favour during the expenses scandal. He should take a walk to the Strangers’ Bar. But not to sup with the patrons he seems to despise so much, dearie me, no; he should instead look at the paintings on the corridor outside the bar, which depict the devastating fire which consumed most of the Palace in 1834. And he should reflect on the fact that on that dramatic night, as the Commons went up in flames, a crowd gathered on the South Bank to clap and cheer.”
Focus group time. says:
The thing that Dave needs to work out is which group is more likely to vote Conservative. Mad swivel-eyed loons or mad homosexuals wishing to get married.
More bundles of notes on the fire please Mr Central Banker.
RPI 5.6%, highest in over 20 years.
Yes!!!
We must keep interest rates at 0.5% to tackle the risk of deflation.
The story since 1693(Bank of England), 1913 (US Fed + fed. income tax), 2003 (Iraq), 2011 (Libya)…
.
‘give me control of a nation’s money and I care not who ‘runs’ it…’.
We’re all in this together, English cretins! There’s plenty of room in Liam’s arse!
Unless salaries goes up as well it will not work.
Salaries will go up. Driven by the public sector unions.
Gideon wants to keep the plebs wages down so there is more for his friends
Never seen a politician shopping in Primark.
The cuts have not bitten them hard enough.
It is only when we see our elected representatives wearing suits which cost less than £2000 that I will believe that we are in this together.
Its mainly to do with high energy cost, increase in VAT and imports. People are buying less in terms of quantity and moving to cheaper goods.
There is no internal pressure on inflation.
There is still a little time to get your savings into a safe place.
Under your bed sounds favourite at the moment.
ARe you the same Anonymous as yesterday?
Energy costs and imports are expensive because of QE. It’s taken ages to feed through fully, but here it is.
Doesn’t it make you feel good knowing that your taxes are paying off Labour’s Debt, Euro Parasites, Public Sector Parasites, Foreign scum with Swiss Accounts, Benefit spongers, Asylum seekers, Criminals and Gold-plated MP pensions?
You are Mervyn King and I claim my free wheelbarrow full of soon-to-be- useless fivers.
Salaries aren’t rising to there is no internal inflation. Economy need to be rebalance until then you will have imported inflation.
Piss off. Septembers inflation figures have fuck all to do with January’s VAT hike. The reason things cost more is because the pound is worth less and it is worth less because the BOE with Georgee’s permission keeps printing more pounds.
UK was living off other countries, chickens are coming to roast. We need pound to fall by another 25% to rebalance the economy. Until UK start to live within its means there will be imported inflation.
You can’t even write proper English. Why should we take any notice of what you say? Back to school thicko!
There is no internal pressure on inflation.
Well, apart from the ‘internal pressure’ created by printing 275bn quid obviously. That does rather tend to make all our imports more expensive. And thus all our distribution costs.
Still, it’s quite obvious what is happening even though the fuckers have been denying it for the past three years.
Plan accordingly.
Tackle the risk of deflation making the value UK government debts higher.
King gets a knighthood for inflating it away?
The inflation target is almost as unbelievable as Brown’s targets for GDP.
He can only inflate it away if salaries increase and tax receipts increase, its not happening.
Nothing to do with us
Print those Pounds, print, print print. trash the Pound until it’s worthless.
Meanwhile, while you still have some value, buy assets that the government or taxman can’t take like gold or silver or other attests. Protect yourselves from the criminals in the Bank of England and criminals in the Treasury.
If you take inflation targets from the day they are introduced and look at how prices should have increased, you can see just how badly the BoE has performed. Prices are over 7% higher than they should be.
The targeting of the yoy rate is just King saying,
“please please, let me have another go, I’ll do better next time”
“Ah yes, I’ve got it wrong”
“please please, let me have another go, I’ll do better next time”
“Ah yes, I’ve got it wrong”
“please please, let me have another go, I’ll do better next time”
“Ah yes, I’ve got it wrong”
I’ve just used my savings to pay off the mortgage.
Got to pay for the Widmills somehow.
This is the greatest asset stripping of prudent savers and pension funds ever seen in the history of the UK, to fund feckless borrowers, which includes the government – who are NOT serious about public sector cuts.
The EU’s Barroso wants bankers arrested over frauds. When will we have arrests of the politicians in the LibLabCon that have created this fraud and theft – redistribution of wealth from the prudent to the feckless?
Won’t affect me and my Missus, we are both on index linked salaries, allowances and pensions as an MP and both of us Councillors. Boaz.
Something to do with printing money?
Energy prices aren’t helping.
Energy prices are static except for the green tax element which has gone ballistic.
A millionaire hedge fund baron who bankrolled former Defence Secretary Liam Fox made a series of personal donations and gifts to a string of senior Cabinet Ministers, including the Prime Minister and Chancellor, it emerged last night.
Read more: http://www.dailymail.co.uk/news/article-2050302/As-David-Cameron-delays-lobbyist-crackdown-Downing-Street-network-revealed.html#ixzz1b7aAVuib
You print money the value of the currency drops, so everything costs more to import. The UK imports most it’s fuel, food and raw materials.
This is the Bank of England’s and government’s grand plan to smash the prudent until there is nothing left of the UK economy. Ripe for a takeover.
I think it’s certain they are only following orders. They don’t work for us anymore.
Anyone who does the regular weekly shop knows that that figure is way below the increases we are facing buying food.
Hear hear, 20% on this, 10% on that, some up 40%+
5.2% is pure fantasy.
What’s a weekly shop?
Something your butler does.
My butler ran off with the purse and the family silver. He was last seen entering R.B.S. head office.
Tax payer funded expense.
Perhaps they thought of a number and halved it. Integrity in this process disappeared long ago.
Check out the price of Mars bars these days! Can’t afford to use them for sex games any more.
Good to see from yesterdays DP that Luciana Berger is pure window-dressing, if you like that sort of thing. Complete airhead
Luciana Bignose DP’ed?! Perverted filth!
Dr Fox’s unbelievability index has gone u[p by 500%.
Interesting that the price of whitewash has gone up by the same amount.
Come on Dave; roll your sleeves up, smile for the camera and let’s make a film; “Carry on blaming Labour”
Blaming Labour does have the benefit of being true though.
LABOUR SPENT ALL THE MONEY .. AGAIN!
AND THEY WANT TO CARRY ON SPENDING STILL!
NO MORE BOOM AND BUST, REMEMBER, OVER THE MEDIUM TO LONG TERM ETC ETC ETC.
CALLAGHAN,WILSON,BLAIR,BROWN BANKRUPTED THE NATION. THEY ALL ONLY EVER HAD ONE POLICY,
SPEND SPEND SPEND
THEY EVEN BORROWED THAT FROM VIV NICHOLSON!
STILL AT LEAST THEY CREATED MANY CHAMPAGNE SOCIALISTS, ESPECIALLY IF YOU SUPPORTED THEM, DIDN’T THEY POLLY,NEIL,GLENYS ETC ETC?
There’s no money left. Good luck!
Your lot have spent the last twenty years playing “blame Thatcher”, so stop being hypocritical.
Who sold our utilities?
Who nationalised them?
Anonymous- have you forgotten about PFI, which Labour embraced so whole-heartedly?
Can anyone tell me when the last time inflation figures were true and reflective or the real world?
There is no ‘true’ figure for inflation. The national inflation figure has no practical reality. Everybody has there own personal rate of inflation, depending on how they spend their money. Different measures of inflation are different proxies for the fall in value of our currency, which in itself is an imprecise concept. In this respect ‘inlfation’ is very similar to the changes in ‘temperature of the atmosphere’ so beloved of climate scientists.
Thanks Sir W
There’s one important difference though, WW – changes in inflation are always anthropogenic, while the influence of human activity on climate is, well, moot.
And stop calling geography teachers scientists!
I went through Norwich airport recently.
You now have to pay five pounds to get into the departures area in order to leave the dump behind.
It reminded me of Nigeria and all the other third world countries I have worked in.
Capitalism meets corporatism.
I wouldn’t confess to going anywhere near Norwich
Yeah, a fiver for getting out of the place looks a steal to me.
Quite agree. Norwich is like Nigeria, Populated by inbreds.
So you pay to use a service.
Remind me. how far is it to luton or stansted?
You mean Norwich has an airport?
Bloody hell, there’ll be a cargo cult spreading across the flatlands if we don’t watch out!
all the bloody airports charge for pick up and drop off now
robbing bastards.
OT but I think I have discovered the solution to the middle east problems – clearly the P@lestinians have inferiority complex as they think the freedom of one of their own equates to one tenth of one % of an innocent young conscript. I am an anatomist but I reckon that equartes to approximately one foreskin (which ironically young Shilat didnt have – so perhaps they released one too many)
Any solution would be to give then som,e counselling to boost their self esteem
“I am an anatomist but ”
If an isreli conscript weighs 75kg, 0.1% of him is 75 grams.
Thats the weight of two or three mice. No wonder they chop them off.
Always pays to be sure so I take off the last 6 inches rather than just the tip
“innocent young conscript”
Remind me again – what was the silly fucker doing outside his own country in a tank?
His duty?
Probably he was trying to stop the tide of Palestinian greed ‘n’ filth from extinguishing life.
One Israeli soldier worth one thousand Palestinians? I think the Israelis undervalued their lad.
Isn’t the September figure the one they base benefit increases on?
So why should gold plated taps attract 5% VAT and a pair of shoes 20% VAT Chuka?
Which ones would those be – figments of his imagination.
We all know that ZaNuLabour doesn’t understand SMEs, look at the Labour Front Bench, how many of them have ever worked for a business, and how many of them have been SPADs, ‘Researchers’ or simply careerists in search of a seat.
Deadwood thinks that he can differentiate between ‘good’ and ‘bad’ businesses, silly sod probably thinks that an ethical firm is based in Chelmsford.
“Dear Chief Secretary,
I’m afraid to tell you there’s no money left.”
I would support zero VAT, 10% corp tax, 10 % IT, no NI.
But we live in a nasty world where that Mr Brown spent all the money, so Mr Umunna it is but just a political stunt
Chuka’s tweet is not shows he isn’t even a cunning political stunt, just a stunning political Hunt.
ANY tax cut is going to attract support among businesses. At any time.
Did anyone see The Bank That Ran Out Of Money last night? How the fuck did that happen? Sir Fred really was an egotistical maniac, no wonder Gordon loved him so much.
Apparently he said due diligence was not really necessary when buying ABN as Barclays had already sort of done it. What could possibly go wrong?
The sad fact is that RBS was actually a sound Bank with a good balance sheet until Fred bought £325bn toxic assets
There’s a good piece on our Fred here:
http://tinyurl.com/4fb9tjl
It doesn’t cover the most interesting part of Fred’s career though – his role in the liquidation of BCCI and the raping of creditors that occurred through inflated fees…
Do you think the board of ABN knew their assets were a pile of shite and were looking to get out while the getting out was good?
7 Billion people in the world, the price of food is going to keep going up whatever central bankers or governments do.
We (developed countries) collectively lived an economically unsustainable lifestyle for a decade, whatever is done to try to promote growth etc we are all going to have a standard of living for some time to come.
Putting interest rates up might help get inflation down, and would be fairer to savers, pensioners etc but would put financial pressure on millions of people with variable rate mortgages, and would feed through to increase private rental rates, which we are told people can’t afford as it is.
Not easy!
“….we are all going to have a standard of living for some time to come.”
Let’s hope so. Fortunately, I can shoot my own food.
Not if the gangs of feral poachers from the nearest inner-city sink estate have had it first.
I’ve said it before, I’ll say it again – Osborne is in a very difficult position. There’s practically nothing he can do that won’t have adverse effects on either the deficit, or some innocent section of society.
Thanks a f***ing bundle, Brown and Balls. You’ve screwed the UK’s economy for a generation or more.
There is loads that Gideon can do….he can: reduce VAT on fuel to 10%… close the corporate tax ‘loopholes’….tell the likes of Lewis Hamilton and Phillip Green to either pay there fair share of tax or fuck off, limit migrant access to the NHS to urgent cases only, start building social housing to cut the Housing benefit bill……lot and lots of choices to both stimulate the economy and pull in more revenue!
Yep. He can start by firing the one million bedwetters, boxtickers and bastards hired by the Maximum Imbecile practically overnight in 2001/2002.
Then he can crank interest rates up to 5% to kick the legs from under the pyramid housing scam and make them more affordable for everybody. With the added bonus that the pound will appreciate and so imported inflation will go down.
Cunning Plan – all those involve spending money he doesn’t have. As to refusing to treat migrants – many of them should not have been admitted to the country in the first place, but now they’re here, you can’t just traet them worse than animals.
Forget stimulating the economy – consumers are not willing to spend on anything but essentials, companies are paying down debt as fast as they can go, and government is already grossly overspending. In the rest of the world, America is near recession, the Eurozone is in serious crisis, the BRIC countries don’t buy much off us anyway. Where is this growth going to come from?
A rate rise wouldn’t necessarily feed through to rents – there’s only so much the m*rket will bear, and what is more likely is that repossessions of buy-to-let properties would start to happen, with a resulting fall in property values making purchase more attractive.
Left to itself, there’s enough negative feedback in the system for things to stabilise – just not at current rates and prïces. The artificially low rates of the middle and late years of the New Labour fiasco only led to unsustainable property prïce rises, and until that perturbation is worked out of the system, people will still be operating on false premises when deciding where to invest their income.
How long until Mervyn King gets a brick through his window or worse for destroying people’s savings?
How come Mervyn King has managed to survive for so long?
What does he know?
I think it is perhaps more a case of what he doesn’t know – rather a lot I fear! There are only three engines for growth:- consumers, states and private companies. Consumers are sitting on their hands unable/unwilling to spend. Governments are stratospherically broke whilst companies are stockpiling cash instead of investing and who could blame them. Why should they invest when they see demand contracting. Hence the QE wheeze. We are sadly all on the road to hell on the proverbial handcart. We are now no longer looking at a painful couple of years but quite possibly a decade of financial misery with extremely grave consequences.
All of these worthless fucks are biding their time until next year. King hopes that once VAT is taken out the equation then inflation will drop back sharply. It won’t. Home energy, petrol, and food are driving inflation up. Most of the working public need all three. What will his excuse be then? Osborne is hoping that the Olympics drives the economy forward. It will. Slightly. But this is a temporary solution. The government need to stop borrowing. They’ve been in 18 months and while I expected borrowing to increase slightly for the first few months, I expected it to begin to fall back. It has not. They can rightly blame Labour until the cows come home but they need to get serious about cutting borrowing and spending. As each month goes by they become as guilty as Labour.
Will we see the misery index going down again?
Pensioners to take a hit of .4% next year and then the next…..
Want to know how the Government/bank of England are responding to the crisis?
They’re sensible sorts so they’ve obviously targeted a gradual decrease in housing costs (the main drain on the UK economy) with a total ban on loose credit and fraudulent lending to prevent accumulation of even more debt. Right? I mean, no-one would be crazy enough to try and start the whole thing again would they? Would they??!!!!
Well – you’ve seen zombie banks. Now meet the Frankenstein bank. Created from the corpse of RBS, funded entirely by taxpayer’s QE money, and run by RBS’s ex-CEO (up until 2006).
ShawBrook bank (SureBuck for the CEO and his chums) was set up to lend to SME’s using asset security for all their loans. Sounds good eh? Just what we need eh? Well, the security specificed is property. Starting to sound dodgy? Even more so when you read that they will lend via broker networks (the main cause of liar loans during the ‘boom’).
I have it on good authority from a subprime mortgage company in my building that SureBuck will lend pretty much only to Buy-to-Let SMEs’ and have no interest in proof of income. The asset security is the property they’re lending on. Surely suicidal in the long run given the massive overvaluation of the UK property market. Particularly as I know for a fact that the subprimer broker’s clients are actually broke and have no deposits to speak of.
Expect worker’s earnings to deflate whilst the earnings of those whose wealth is linked to property (Merv, Gordon Brown, Tony Bliar etc.) to inflate hugely off the back of all of our taxes. A crazy scheme designed to ensure good retirement pots for the boomers before the wheels come off in 2017 when UK debt needs to be refinanced. Time for emigration everyone.
Want to know how the Government/bank of England are responding to the crisis?
They’re sensible sorts so they’ve obviously targeted a gradual decrease in housing costs (the main drain on the UK economy) with a total ban on loose credit and fraudulent lending to prevent accumulation of even more debt. Right? I mean, no-one would be crazy enough to try and start the whole thing again would they? Would they??!!!!
Well – you’ve seen zombie banks. Now meet the Frankenstein bank. Created from the corpse of RBS, funded entirely by taxpayer’s QE money, and run by RBS’s ex-CEO (up until 2006).
ShawBrook bank (SureBuck for the CEO and his chums) was set up to lend to SME’s using asset security for all their loans. Sounds good eh? Just what we need eh? Well, the security specificed is property. Starting to sound dodgy? Even more so when you read that they will lend via broker networks (the main cause of liar loans during the ‘boom’).
I have it on good authority from a subprime mortgage company in my building that SureBuck will lend pretty much only to Buy-to-Let SMEs’ and have no interest in proof of income. The asset security is the property they’re lending on. Surely suicidal in the long run given the massive overvaluation of the UK property market. Particularly as I know for a fact that the subprimer broker’s clients are actually broke and have no deposits to speak of.
Expect worker’s earnings to deflate whilst the earnings of those whose wealth is linked to property (Merv, Gordon Brown, Tony Bliar etc.) to inflate hugely off the back of all of our taxes. A crazy scheme designed to ensure good retirement pots for the boomers before the wheels come off in 2017 when UK debt needs to be refinanced. Time for emigration everyone.
merv kings letters to the chancellor is verging on groundhog day
There was a word for the similar situation under Harold Wilson’s government: ‘stagflation’. Time to take it out for a run again, perhaps.
Fair enough Guido, but for those of us as thick as a whale omlette, what do we do about it ?
Buy Gold ? Emigrate ? Move back to UK as it’s better than sitting in the Euro Zone ?
What exactly does a cash-strapped middle aged economic dunce do ?
Can I just say to the BoE, Mervyn King, “Beaker” Alexander, Gideon, CaMORON, and the taxpayer bailed out banks “YOU DON’T KNOW WHAT YOU’RE DOING”.
But according to Merve of the BoE this is just a blip which will sort itself out. Yeah Right – after I think at least fifity months of above target inflation you would have thought that somebody would be doing something about it. Mind you the people that could and should do smething are all on index linked salaries and pension. Merve should take a reduction in salary to bring home the reality of the outside world. Fat chance though
Stop trying to be a Chancellor, Merv and get interest rates up to 5% now. Your job is to control inflation. There is no deflation risk at 5-6% inflation you auld bumbling git- get on with it. Stop protecting those inflated asset prices and do that job your inflation proofed pension is being funded by.