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Deflation? For whom?
Comments
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Thought this part of Mervyn's letter was interesting
I have always thought interest rates would start to climb by the end of the year, and this certainly seems to support those who think inflation is a far bigger risk than deflation.
Those on tracker mortgages who are spending the money they're saving might well rue the day once their payments go through the roof.
Good spot - interesting to see Merv admit that the crash in sterling is likely to have an effect (upwards!) on inflation, given how much we import!0 -
Any substantial increase in inflation should act as a support for house prices :cool:'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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I have to thank you Steve, you brighten up our day sometimes.
Well it brightened my day up anyway :beer:'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
If you fancy wasting a few moments, try reading a 2 page letter that manages to say almost nothing, i.e. the Chancellor's reply;
http://www.hm-treasury.gov.uk/d/chx_letter_240309.pdf
Though there is one paragraph that implies Mr Darling has a sense of humour;
"For its part, the Government's fiscal policy objective is to ensure the sustainability of the public finances, in order to protect economic stability and growth."0 -
http://www.moneywise.co.uk/news-views/2009/03/24/inflation-hits-zero
somewhere near the end says what items are going up or down.
on my net spending it's deflation for me.0 -
http://www.moneywise.co.uk/news-views/2009/03/24/inflation-hits-zero
somewhere near the end says what items are going up or down.
on my net spending it's deflation for me.
If you take out your mortgages though chucky, where does it leave you then ?, it would be interesting to know. It seems it's only mortgage IR's that are holding RPI low.0 -
If you take out your mortgages though chucky, where does it leave you then ?, it would be interesting to know. It seems it's only mortgage IR's that are holding RPI low.
you're right - i was being difficult for a change by saying my net spending was going down but i have only one domestic mortgage.
my main daily prices definitely going up as individual items but my total spending is less.
selfish i know.0 -
http://www.moneywise.co.uk/news-views/2009/03/24/inflation-hits-zero
somewhere near the end says what items are going up or down.
on my net spending it's deflation for me.
It is becoming confusing, Merv penning a letter about why it is too high, while at the same time applying remedies based on it being too low
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
I think they're hoping no-one's spotted that bit. :rolleyes:0
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Aye. You can't fool all of the people all of the time.
But they're giving it a bl00dy good try ..
..have I got this right - you put elect up 30%, then you reduce it by 3% (scottish power), and then you turn round with a beaming smile and announce the cost of living for the peasants is going down. Wow, thats good !0
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