Re: Gordon Brown justifies 100% tax hike

"John of Aix" <j.murphy@xxxxxxxxxxxxxx> wrote in news:47fca407$0$878
$ba4acef3@xxxxxxxxxxxxxx:

Joe wrote:
John of Aix wrote:
Ar wrote:
Gordon Brown says that with his expert handling of the economy (what
his degree in history apparently equipped him for), we have low
interest rates,

Low interest rates? Really? I don't think so somehow, they are among
the highest of all the industrialised countries. Do you ever wonder
what goes on beyond the straits of Dover?


Low *real* interest rates i.e. with inflation subtracted.

Not much difference on that score witht he other EU countries.


Possibly in France the CPI accurately reflects the cost of living for
most people. It doesn't here.

Yes it probably does in France as they are nuts about paperwork and
collecting statistics of all sorts. But why do you say that the CPI
doesn't reflect reality in the UK?

It reflects one reality which is the price of a selection of common
goods. But it doesn't reflect the cost of living, because it doesn't
include mortgage costs (or house prices for that matter), or gas and
electricity. Funny you should mention the French being nuts about
paperwork, since it's the EU's NUTS stats that dictate what's included in
the CPI.

The whole thing's a fraud, because the MPC targets the CPI and the govt
makes all sorts of decisions off the back of it, including dole payments
and pensions. Mervyn King said he was surprised that somethings aren't
included last year, which goes to show I could run the Bank of England.


--
A monkey

"Monkeys are superior to men in this: when a monkey looks into a mirror,
he sees a monkey."
.

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