For a view that thinks US inflation is actually 10%, and not 2.5% which it is according to government statistsics -
see this webiste which publishes 'shadow' statistics.
http://www.shadowstats.com/cgi-bin/sgs/data
The inflation in the euro area has been around 15% since launch with the euro's value more than halving. This has been reported as 2-3% inflation by the ECB. Asset price inflation is running away with itself across the eurozone, but Trichet is desperately trying to stop the currency rising. It is laughable that they still pretend they are in control.
In the UK also inflation has been much higher than claimed. They can lie about infaltion, but not about interest rates. Those are now heading North - which kind of proves that the CPI inflation rates are a fabrication created by Gordon Brown to hide the truth.
He instructed the Bank of England Monetary Policy Committee to observe only the CPI (Consumer Price Index which excludes cost of housing and taxes), and ignore the more traditional RPI (Retail Price Index). Brown cannot pretend it's nothing to do with him...but of course he will.
Cameron should open up on Brown on this area. Brown is highly vulnerable. He's lost control of inflation, depsite avoiding the Euro and he should pay a political price for having done so.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment