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Quote Of The Day: BOE's Adam Posen "U.K. Inflation Will Slow After Temporary Surge"
We believe Ben Ali tried the same quote. We are not sure if he used the precisely same wording: maybe that's why he was almost decapitated in the town square by a mob of angry and very hungry vigilantes. And if the quote above is FTW, then this one is FTMFW: "CPI, excluding currency, commodities and VAT impact, is low" also, let's not forget food prices, energy and petroleum byproducts. We totally agree with Adam: aside from everything, inflation is negative.
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His money quote yesterday: to paraphrase - inflation isn't the central bank concern rather it is stability
LOL! I remember seeing a ECB cartoon about the dangerous "monster" called "DEflation". The cartoon went on to say that "INflation" of about 2% is GOOD - which is why we need the monetary scientists and intellectually superior economists at the Central Bank to "tweak" things to make us all happy. It is simply laughable how they try to fleece the gullible population.
ECB Cartoon: Price stability - Why is it important for you?
http://www.youtube.com/watch?v=wTo1noKGQGU
Then what would you want ideal in/deflation to be?
Who knows... But supply/demand price inflation/deflation is different from monetary base inflation/deflation - but that is a reality that is obfuscated by the intellectually dishonest economists who rule our Keynesian nightmare.
inflation=stealing
interest on deposits=stealing slightly less from savers.
In total everyone is stolen from massive inflation is just there to wipe the savers. Which is RIGHT where we are. Buy silver.
I saw this shit when it first came out. How they cram so many fallacies into such a short period of time is beyond me. I had to watch it 3 or 4 times before it finally sank in that this was meant to be taken seriously. I haven't been able to laugh since....
Why does this rain on my back smell like piss?
trickle down economy baby!
Pure farce
Not if he meanth "Temporary" on a geological time frame.
1 million years is like a second on the earths clock :)
By that definition, it is a certainty that eventually a giant space rock will destroy all life on Earth.
So, we have that to look forward to.
Didn't you hear about the Super Nova in 2012?
2 suns... Amagine.
the math is determinate.
step 1: take a few minutes and observe, turn off sound if you hate Pink Floyd (also, never write me another christmas card again if that is the case)
http://www.liveleak.com/view?i=388_1290729693
Step 2: watch all of your trivial cares dissolve into a mist born of the realization that in the end, all of our bullshit doesn't matter for one iota
if that doesn't do it for you, i can always put up the galaxy song for you
This is some temporary surge. It's been temporarily surging above the BoE's 2% target for just about 36 straight months now. Every month inflation is 'Higher than expected' due to some one-off and temporary event.
When you're surprised 36 months in a row, people might be forgiven for doubting (i) Your competence, (ii) Your sincerity or (iii) Your motives.
Came here to post exactly this.
+1
Oh, and not forgetting the standard excuse for the past 18 months have been along the lines of "we're not concerned, as this months above target inflation figures are the result of one-off issues". There sure are a lot of one-off issues.
+1
(i), (ii) and (iii) for me.
When month after month one is being violated, it becomes obvious that the people saying that you are not being violated are part of the mechanism that is violating you. It may also be evident that you need to be violated but also require an excuse in order to accept it.
LOL!
anyone who claims stability is their mandate, clearly sucks and should be fired at once.
The last 3 years have been a tragic comedy
Moin from Germany,
here is a nice chart showing "real rates" in the UK from 1990-2011......
http://thumb1.ftdcdn.de/original/Image/2011/01/18/p/151901_PfundKAP_c.gif
That was classic.
if you back out the last 102 years, the chicago cubs are the reigning world champions.
lol, nice
UK inflation has been 2% over target for about 3 years now.
This is from the idiot who wants more QE though.
'The' idiot? They're all idiots, who want more QE.
That's generally how inflation works. There is this giant buying spree, followed by slack demand as everyone quits eating and using energy. If we take out all sectors, including health care, inflation looks pretty tame. I get it. Movin on.
speaking of U.K. inflation
300% price inflation on tuition for your soon be jobless useless kids.
LOL
But I'm sure its 'contained to sub-prime students' only....
Every semester their tuition rates go up. OMG they are going to be stuck with an underwater College degrees they can't sell!
That DOES IT! I'm repossessing all your elective courses!!!
Well, the whole story here is actually one of socialism failing. For years, the gov't has just trivially accepted whatever increases in tuition fees the institutions asked for, with the obvious inevitable result that the full costs spiralled out of control.
Education is the 3rd biggest entry in the UK budget.
"To get more yards, it's best to move the ball from the line of scrimmage down the field." - John Madden
Profound.
They never predict any of what happens, but are 100% sure they have the future in the books.
Mortgage meltdown problem? We dont see it, thats not a concern at all...wait, its contaned to sub prime and wont effect anything else....wait, we need $24 trillion to fix it.
Yes it's 36 temporary events in a row,nothing significant,when it hits 9966 it will be no more significant.
FX markets must be totally blind to all this bullshit,sterling rapidly on the way to zero,all part of the long term plan for the imposition of the Euro,to replace sterling when the current economic policies being pursued by the UK govt lead to the inevitable bankruptcy.
This has been planned years ago.ECB will rule the entire Eurozone,mass third world immigration to ethnically cleanse the indiginous populations,no such thing as nationalism anymore,we are all going to be "Europeans".
Rather like watching a sick animal,Iwould rather they put sterling out of its misery now,revalued at EUR/GBP 1.30-150 at the date of the sterling collapse/conversion anyone?
The UK's shadow chancellor (opposition treasury minister), Alan Johnson, has quit his post following revelations that Mr J's bodyguard has been banging Mr J's wife, Mrs J. Mr Johnson, a former postman, has not gone postal, yet.
http://www.belfasttelegraph.co.uk/news/local-national/uk/alan-johnson-bodyguard-lsquohad-affair-with-wifersquo-15060586.html
He was shit at the job anyway.
Hah, yeah and Brown's lapdog, Ed Balls, is the new shadow chancellor.
I hate when that happens. Was the wife banging the bodyguard or was the bodyguard banging the wife?
Takes two to tango...
I don't know, but someone got banged.
As EscapeKey has said, the new shadow chancellor, Ed Balls, was Mr G Brown's right-hand man. Balls is a dangerous bastard, and so is his wife. I view them as the high priest and high priestess of Fabianism. Their true loyalty is not to the UK or the British people. I hope Balls's bodyguard has the same ethics as Johnson's.
"CPI, excluding currency, commodities and VAT impact, is low"
When I read that I was lucky I wasn't drinking or I would have ruined my keyboard and screen
Yes, inflation will return to normal after the revolution.
There is always peace after a war.
Depends on who wins the war! No good times for those who lose the war, and the people are losing big time!
Agree, that is exactly what I meant, first they invoke a "war" and then promise that after that everything will be OK.
SO! Everything is now sunshine and lollipops again, so why do they need more Q/E again? Hard to keep things straight between these clowns blowing double rainbows up each others asses and Geithner sending dire warning letters of total doom if trillions more arent immediately handed over.
More bourbon, anyone?
Yep, it's all good. It's like the guy on your block not paying his mortgage. Nothing really changed. Some people still have to pay their bills though, oh and their taxes untill they fucken die.
Other than that, sunshines, and lollipops is correct.
+++++
Exactly right.
Everything's fine now, you see, BUT....we need more money to make sure things continue as normal.
+10
Perpetual love and monetary perpetual motion is at hand
Oceania has always excluded currency, commodities, and VAT impact from inflation.
"I was for inflation before I was against it!"
Like an alcoholic saying, it's only one drink
Wow! Lots of little miracles today. Bob Pisani just noticed it. His words, loosely, "We are up, Asia is down...huh?"
Right...Asia is choking on Bernanke Banana Inflation. Now, who left in this country does not understand this...aside from Bob Pisani? Anyone...Bueller....Bueller...
There is no decoupling. BTW...you have very little time left to dump your long positions in the NASDAQ...that rally is so far past over it is funny that Bob Pisani cannot see that, either.
Its not ben's fault. China could break the peg in " 15 minutes " if needed. The inflation would fly, fly away ......
But alas everyone knows they can't. The manufacturing economy/banks/PBoC would all get monkey hammered.
This is China's problem, not uncle ben's ....
China printed like a mother fucker over the last 3 years. Chickens coming home to roost ....
+111 Let the monkey hammering begin!!
I cannot decide whether to buy more gold or more silver today. Leaning yellow. They are having an after x-mas sale on it because inflation is non existent.
Isn't there any concern that a market crash (which will happen) will cause commodity prices to plummet, resulting in deflationary pressure? After all, as many have said here, the surge in many commodity prices have been driven by speculation?
Plus, if you look at 1990s Japan, the Fed balance sheet also expanded dramatically, and although they had bouts of inflation, the overwhelming trend was deflationary.
yeha i guess everything is ok in UK, they prob didnt expect to still have a pound sterling this far in, what do you know the game continues.
Is this Posen practicing for a stand-up routine, or does he believe we are that stupid?
Inflation: An exercise for central bankers. Close your eyes, think happy thoughts, repeat there is no inflation, there is no inflation... Open eyes there it's gone, it was never there. Repeat as often as possible. Now imagine deflation, quick print money...
Heh.
"Just lay back, close your eyes, and think of England."
I think he is thinking in terms of the male orgasm, but this inflation business just might be a feminine thing, eh?
ORI
http://aadivaahan.wordpress.com/2011/01/21/accidental-lives/
Let's see. I'm broke, in debt, out of work, have a tooth ache, my wife left me, my truck was repo'ed and my dog up and died. But other than that I guess I'm fine.
I voted for inflation before I voted against it.
You can feed the Sjheeples almost anything......
Yes, it's "Better then Expected" once again......
"Situation serious buyt we are making gians.."
"Your pain is....only temporary..."
"Your hunger will go away soon..."
"See the Green Shoots?"
China will go the hard way with US.
Full blown war with the West.
They can't de-peg the Yuan and the US is not going to stop printing money.
Who blinks first?
HM govt has stopped issuing index-linked national savings certificates.