one-million pound banknote

TruckerT

47thElement wrote: »

Is this not true monetary deflation we are seeing?

Cut the jargon, call it a meltdown - and hope it isn't just dying flames

TruckerT

The_White_Horse

TruckerT wrote: »

We don't have inflation, we have rising prices - wages are lagging way behind - i said on another thread that it is possible that rising prices are successfully preventing a free-fall in wages - there is not really much of a 'fight' going on at all - BoE has no useful tools, and, apparently, we cannot barter with the oil/gas producers because they are not British...

TruckerT

i thought that was inflation. coming with wheelbarrows of cash is just extreme price rises with wages lagging behind.

its like saying, we don't have apple pie, just pies with apples in them.

TruckerT

The_White_Horse wrote: »

i thought that was inflation. coming with wheelbarrows of cash is just extreme price rises with wages lagging behind.

its like saying, we don't have apple pie, just pies with apples in them.

'Inflation' suggests an overall expansion, a 'ballooning', and I believe, rightly or wrongly, that the origin of the word (in economic terms) relates to a 'linked' rise in prices and wages

If wages and price rises are no longer 'in synch', then, in the absence of any plausible short-term explanation, economists need to find an alternative explanation

TruckerT

RenovationMan

TruckerT wrote: »

TruckerT

Do you sign all of your posts because they are so important that you think one day they will be put in a compendium of famous sayings and you want to make sure that you receive due acknowledgement?

"A person who never made a mistake never tried anything new". Albert Einstein.

"A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty". Winston Churchill.

"He who knows when he can fight and when he cannot, will be victorious". Sun Tzu.

"I checked out a few more links, and they confirmed my original opinion (posted elsewhere) that economic theory is also 'insane' - I read a massive long article which completely demolished all my ideas, but finished off with the suggestion that I read another article which would offer an alternative view". TruckerT

TruckerT

RenovationMan wrote: »

Do you sign all of your posts because they are so important that you think one day they will be put in a compendium of famous sayings and you want to make sure that you receive due acknowledgement?

If it happens soon enough, I will put the first ten copies up for auction on Children In Need

TruckerT