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Tuesday, 22 January 2013

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Shiver away old boy. The whole point of cutting the connection to gold was to allow devaluations.

All too true, alas!

Dearieme is right.

And here are a couple more straws in the wind:

1. In yesterday's DT some talking head or other was quoting as saying that "inflation targetting has had its day" - in other words, inflation/devaluation is about to be let rip.

2. In the same newspaper it was claimed that UK house prices will soon exceed their pre-crash maximum; this was mentioned as if it were a good thing, but of course it's just a symptom of the coming inflationary lift-off: the newly-printed money goes first to the banks, who lend some of it out in mortgages, thus supporting the ridiculous price of property in this country (with more than a little help, of course, from our utterly disfunctional planning system)

Hold onto your hats and don't keep any paper money, it's about to lose another lump of its value. Naturally public sector workers and benefit claimers will be well looked after, as usual.

Regression to the mean and a race to the bottom - for ordinary folks.

Mr Chin has graduated from a bowl of rice to a meat(ish) pie per day, John Bull has moved from roast beef to a meat(ish) pie. The Japanese are printing Yen fit to bust and if your money is in a UK bank - well buy a wheelbarrow. Stoking the embers now will have the economy warming up nicely by 2015 in time for Dave's big day. Inflation - you've tried the rest, now try the best.

It's an ill wind though, round my way farmers are grubbing out orchards and planting wheat and down at the stockyard even the most worn out cow brings in a pretty Euro. Cheap meat pies are where it's at.

Och Aye I remember the Tory farmers trying tae bring doon oor Arald Wilson by inflating the Tattie prices.
Grand Britannia will survive anything.

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