It is Obvious

Chris Rick has got altogether too much to say

Surprise, surpise!

Posted by chrisrick13 on April 12, 2016

It is obvious: I can predict the future
I sometimes think that those with power get together in the pub every evening and have a drinking competition to see who can run the most outrageous thing they can think of in front of the public and get away with it.

Today is inflation day. Only it isn’t…if you read the appropriate inflation number. My recommendation to you is that you stay with good old RPI. Been around a long time so enables you to look backwards. After all what is good enough for the governor of the BoE’s pension fund inflation rate is good enough for me.

I want to put a marker in the ground. It looks like inflation is going to go up over coming months and go up lots. The BoE in the guise of the MPC are charged with keeping inflation close to 2%.  Something they have failed to do over most of the last 7 years.  Everywhere I look the predictions are for rising inflation. The way to combat rising inflation is to raise interest rates and do it well in advance of the inflation rises.

So don’t you tell me, BoE, that the inflation rate rise is a surprise in 12 months time.

They will though.
It is obvious: I can predict the future so can the BoE but they pretend they can’t

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2 Responses to “Surprise, surpise!”

  1. Bill said

    I think that perhaps that you have missed the point. You appear to think that being able to track and compare the inflation over the past years is a ‘Good Thing’ to do. It may be if you want people to be able to follow what is going on. Perhaps by tweaking the method whereby inflation is calculated will allow the BoE to make it more difficult for people to check your record. To you this may a “Sneaky Thing to Do” but to BoE (who as you point out have consistently failed to make the target for years) it looks like a Get-Out-Of-Jail card; And they get to specify the method – so they do!

    I think the real question is why our elected representatives (Tory and Labour) don’t make a big fuss about them missing the target and sack (sorry re-assign) the lot of them when the have so spectacularly failed. Any ideas on this?

    • You don’t get rid of members of your own team! It is a game of musical chairs. Don’t be in charge when it all falls apart. The general public (lead by the BBC and the like) will blame the other lot. Labour got Corbyn to the top to ensure that they won’t be in power for long enough for it all to fall apart.

      Beginning to sound like a conspiracy theorist. Trouble is it must be!

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