Thursday, 15 May 2008

Arrogant abusive ????

The Bank of England indicated that there is not likely to be another cut in interest rates for two years, as it forecast that inflation will reach 4 per cent this autumn. The Bank admitted for the first time yesterday that recession was a real risk for the economy and that inflation would stay above the Government's official 2 per cent target until 2011.

The Governor of the Bank, Mervyn King, said price rises would lead to "a squeeze on real take-home pay, which will slow consumer spending and output growth, perhaps sharply". Contrasting with that pessimism, the Treasury and Alistair Darling say the economy will bounce back to growth of between 2.25 and 2.75 per cent next year.
ha ha ha ha ha are these shirksters for real????

Take off the rose tinted specs off Mervy baby, your money printing policies have been delivering that to the majority of the population already, for years.
So much for the NICE decade he either a lying puppet or too thick to see the consequences already of the NICE decade,
record debt,
falling productivity,
falling savings,
the erosion of purchasing power,
the destruction of the productive capacity and the production of a bloated, service orientated paper hat wearing nomark economy.

"growth" my booty the past GROWTH he speaks of is a reflection of how much of the printed and borrowed money was able to recirculate round the inflationary flea-pit.

The squeeze started when it was pretty damn obvious that the majority of the economy had problems saving any bloody money at all short term or god forbid even a pension.

The official inflation stats are crooked as the day is long, anybody using those as a measure is either a fool or a liar too . I wonder how angry and abusive the public are going to get over inflation eating every last penny they have at the end of each month, every month.

If you think I am being arrogant and abusive well,,,,,

I find it rather abusive to collectively ruin the economy of an entire nation and encourage housing prices to go beyond the pockets of a huge number of hard working people.

Merv bashing here pales into insignificance by comparison. And let us not forget that when he was in a corner over Northern Rock, his answer was to attempt hoodwink NR customers and shareholders, and indeed the entire nation by outrageously requesting that any negotiations involving TAX PAYERS' cash injections should be kept secret on the flimsy excuse that not doing so would precipate panic. How arrogant is that?

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