"Such an approach is unprecedented in the Bank's 315-year history but is now considered necessary as interest rates approach zero and deflation becomes a growing possibility.Not a word about the fears that many have about this process causing high, maybe even hyper, inflation. Do the BBC not consider this a possibility or have they instructions not to mention the prospect?
Deflation - or falling prices - is bad for the economy as it encourages consumers to delay spending in the expectation that prices will soon be lower, potentially worsening an economic downturn. "
I am not a sheep, I have my own mind
I have had enough of being told what and how to think
Whilst we are still allowed the remnants of free speech,
I will speak out.
I also reserve the right to discuss less controversial matters should I feel the urge.
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Wednesday 11 March 2009
The BBC keep pushing the government line on inflation
The BBC's piece on the Bank of England's starting of the process of quantative easing sticks rigidly to the government line that the problem is deflation. The BBC analysis is that:
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