"just accept that you are poorer"

[Sasaferrato]

But the future is worse.

Still, thou art blest, compar’d wi’ me!
The present only toucheth thee:
But Och! I backward cast my e’e,
On prospects drear!
An’ forward tho’ I canna see,
I guess an’ fear!

 

[NoXion]

You can assume they have no evidence if you like, they are an economist, there are economists on the monetary policy committee I don’t agree with but I don’t assume they have zero evidence for their views.

Why do you assume any authority whatsoever on their part? Economics isn't a science.

 

[B.I.G]

So your willing to accept that the rosy cheeked fat men in suits have evidence because they look the part but when someone actually sticks some evidence up you object. You boot licking twat.

More personal insults.

The members of the MPC don’t agree with each other so its irrelevant whether they wear suits or not.

I just asked if the evidence provided on the threat meant what the provider said it meant and for that I got lots of abuse.

 

[Pickman's model]

More personal insults.

The members of the MPC don’t agree with each other so its irrelevant whether they wear suits or not.

I just asked if the evidence provided on the threat meant what the provider said it meant and for that I got lots of abuse.

See, never say we don't give you something

 

[B.I.G]

Why do you assume any authority whatsoever on their part? Economics isn't a science.

I don’t assume any authority on their part. As I said there are economists on the MPC I don’t agree with.

 

[two sheds]

It's like when companies go to a four-day week, they've found productivity increases. Strangely enough if people are happier at work they'll work better. Measurable improvements

Four-day week: trial finds lower stress and increased productivity

Study of pilot at New Zealand firm finds staff were happier and 20% more productive

www.theguardian.com

 

[Pickman's model]

I don’t assume any authority on their part. As I said there are economists on the MPC I don’t agree with.

On what grounds do you disagree with those economists?

 

[B.I.G]

See, never say we don't give you something

I give you an opportunity to boost your post count. You are getting ever closer to editor

 

[maomao]

More personal insults.

I'm sorry you find the truth insulting.

 

[NoXion]

I don’t assume any authority on their part. As I said there are economists on the MPC I don’t agree with.

Yes, you do. Did you not say: "I don’t assume they have zero evidence for their views"? Because the default position should be the null one, i.e. no evidence. Unless of course said evidence can indeed be produced.

 

[Pickman's model]

I give you an opportunity to boost your post count. You are getting ever closer to editor

You're +14 on this thread already, the poster with most to say on this topic and all of it's 'you're being mean to me'or 'I don't understand'

 

[B.I.G]

I'm sorry you find the truth insulting.

As I said no one want to discuss what the person said, just to be rude on the internet for no reason.

 

[maomao]

As I said no one want to discuss what the person said, just to be rude on the internet for no reason.

People were discussing it until you came along and started telling them they should just shut up and believe the shiny fat man in the suit.

 

[B.I.G]

People were discussing it until you came along and started telling them they should just shut up and believe the shiny fat man in the suit.

People were misrepresenting what he said a lot.

Also its a bit weird to be mentioning their weight.

If you have something to say about it why not address it in a sensible fashion to Cat Fan rather than insulting me and Huw Pill.

When he says "someone" hear he's talking about both workers and companies, as is clear in the bit after the comma. He's saying one way to stop inflation would be if companies stopped passing higher costs through to consumers. So companies share the blame.

That's the part that got lost in the media firestorm.

Completely agree that the 1% are getting richer but that's a separate topic to how to get inflation back to its target. The bank's only goal is to get inflation under 2% and the only lever they have is to raise interest rates.

 

[Pickman's model]

People were misrepresenting what he said a lot.

Also its a bit weird to be mentioning their weight.

If you have something to say about it why not address it in a sensible fashion to Cat Fan rather than insulting me and Huw Pill.

Sure pill is grateful for your white knighting

 

[B.I.G]

Sure pill is grateful for your white knighting

Not sure that counts as coming to their aid.

 

[Bahnhof Strasse]

I am traying to give up railing against things that I cannot influence, never mind change.

It is what it is.

You can though, with your military training blowing up the BoE and parliament will be a walk in the park, and if they catch you and give you 50 years, the joke will be on them!

 

[Pickman's model]

Not sure that counts as coming to their aid.

Confused as ever I see

 

[Pickman's model]

You can though, with your military training blowing up the BoE and parliament will be a walk in the park, and if they catch you and give you 50 years, the joke will be on them!

50 years nothing to a man of Sasaferrato's longevity

 

[Cat Fan]

My current theory is workers are acting in their own best interests in pursuing wage increases. Generally workers are younger, less likely to own property and more likely to be in debt than possessing a lot of assets.

So inflation is actively good for workers in some circumstances and there's no reason not to push for wages that keep up with inflation even if it does cause a mini spiral like in the 70s.

 

[yield]

My current theory is workers are acting in their own best interests in pursuing wage increases. Generally workers are younger, less likely to own property and more likely to be in debt than possessing a lot of assets.

So inflation is actively good for workers in some circumstances and there's no reason not to push for wages that keep up with inflation even if it does cause a mini spiral like in the 70s.

The oil price shocks were the main cause of inflation in the 1970s.

 

[brogdale]

The oil price shocks were the main cause of inflation in the 1970s.

Agreed that the exogenous shocks accelerated early 1970s inflation to its post Oil crisis peaks, but inflation was there and rising before the OPEC shock. Important to remember that back then it was governments that set interest rates and, for most of the time, monetary policy was directed at full employment objectives, as opposed to control of inflation.

 

[yield]

Agreed that the exogenous shocks accelerated early 1970s inflation to its post Oil crisis peaks, but inflation was there and rising before the OPEC shock. Important to remember that back then it was governments that set interest rates and, for most of the time, monetary policy was directed at full employment objectives, as opposed to control of inflation.

True. It was 1973 & 1979