Inflation has dropped in the UK to just 2.6%
#31
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Re: Inflation has dropped in the UK to just 2.6%
We can be thankful we did not join the Euro!
#33
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Re: Inflation has dropped in the UK to just 2.6%
Can you clarify who 'they' are and how they should/could be focusing on private debt? I'm assuming, and I apologise if I'm wrong, that you are thinking that government legislation should be brought in that prohibits people from borrowing more than they can afford to pay and making it illegal for companies to offer loans to such people. If that is the case I couldn't agree more. I think it was the Clinton administration who brought in legislation that allowed people who didn't have the means to be accepted for mortgages that they could never afford. ( I know personally of a single mum, three kids, on minimum wage, who was granted a $240k mortgage.) As we know, these mortgages where bought and sold by financial institutions in a Las vegas style of gambling which contributed to the current economic situation.
Should people be forced to live within their means? is it practical to even attempt to do so?
Whichever way I look at it I see a fairly substantial contraction of living standards for the average western consumer.
#34
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Re: Inflation has dropped in the UK to just 2.6%
#35
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Re: Inflation has dropped in the UK to just 2.6%
The problem is people complain when it is 5% and still complain about it when it is half as much.
Unfortunately workers worldwide are really feeling the pinch.
Unfortunately workers worldwide are really feeling the pinch.
I know there's not been much of a pay rise for many because of the government cuts but a few months back inflation was running above 5% so the drop to 2.5% is at least half of what it was, which is better than nothing, true it means most are losing year on year due to the gap in inflation and wages rises, the UKs working population are doing it tough at moment that's for sure.
#37
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Re: Inflation has dropped in the UK to just 2.6%
#38
Re: Inflation has dropped in the UK to just 2.6%
Being a statistician, I see the big picture, and interpret temporary "good news" in the overall context of medium- and long-term trends. I don't get too excited or taken in by one month's data going in the right direction, especially in light of the pattern of post hoc revision of past financial data that we have seen lately, and the longer-term evidence indicating this is just a one-month blip.
If no-one gets knocked down on the road outside my house today, I don't get all happy and celebrate that overall road safety must be improving.
But I applaud your eternal optimism about your rediscovered home country.
#39
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Re: Inflation has dropped in the UK to just 2.6%
Im always glass half full and if inflation is heading down as it is then to me it is good news
#40
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Re: Inflation has dropped in the UK to just 2.6%
Any drop in inflation is good news indeed, it's a lt better than when it was running at over 5% that's for sure.
#41
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Re: Inflation has dropped in the UK to just 2.6%
Exactly
#42
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Re: Inflation has dropped in the UK to just 2.6%
I just wanted to post some good news for anyone looking into coming back to the UK, it's in today's papers also that the worst of the recession is almost over and there's hopefully going to be some growth in the near future.
#43
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Re: Inflation has dropped in the UK to just 2.6%
I honestly see nothing to make me disagree with that, more confidence generally which is a good thing. I would fully expect things to start turning around in the near future, car sales are bouyant which is always a good indicator and they are private sales not company sales.
#44
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Re: Inflation has dropped in the UK to just 2.6%
Unemployment has started to come down as well, I think over 100,000 less unemployed from the beginning of the year, again that's good news.
#45
Re: Inflation has dropped in the UK to just 2.6%
... and "UK public sector net borrowing was £14.4bn in August, official figures show, the biggest deficit on record for this month since records began." (posted on the BBC Economy page today)
Selective Web searching makes it easy to pick statistics that suit whatever perspective you want to paint.
And talking of perspectives, I'm not sure Mervyn King (who was complicit in the whole sh*tstorm that got us here in the first place) is exactly the most objective opinion - he's got nothing to lose, as he won't be in the job much longer he can say whatever he wants - although from the same interview, I note the following was also said:
a lot depended on resolving the eurozone crisis, which was hanging over the UK like a "black cloud"...
Sir Mervyn said he did not have a crystal ball, ...
"After a banking crisis one can't expect to get back to normal and I fear it will take a long time." ...
The UK economy is currently in a double-dip recession ...
... doesn't sound very optimistic to me. I'd love to believe things will get better soon, but one piece of positive data (that needs to stand the test of time - other similar data have been amended subsequently) in a sea of mostly negative news about the UK, European and global economy doesn't inspire me with confidence. I've lost more than I can probably recover from because of the same people who were saying "Things can only get better" just before the sh*t hit the fan.
Selective Web searching makes it easy to pick statistics that suit whatever perspective you want to paint.
And talking of perspectives, I'm not sure Mervyn King (who was complicit in the whole sh*tstorm that got us here in the first place) is exactly the most objective opinion - he's got nothing to lose, as he won't be in the job much longer he can say whatever he wants - although from the same interview, I note the following was also said:
a lot depended on resolving the eurozone crisis, which was hanging over the UK like a "black cloud"...
Sir Mervyn said he did not have a crystal ball, ...
"After a banking crisis one can't expect to get back to normal and I fear it will take a long time." ...
The UK economy is currently in a double-dip recession ...
... doesn't sound very optimistic to me. I'd love to believe things will get better soon, but one piece of positive data (that needs to stand the test of time - other similar data have been amended subsequently) in a sea of mostly negative news about the UK, European and global economy doesn't inspire me with confidence. I've lost more than I can probably recover from because of the same people who were saying "Things can only get better" just before the sh*t hit the fan.