What do you expect with inflation over 4%?

Yet those on the Left think rates should be kept on hold, we shoud devalue the GDP through more QE and keep on deficit spending, only more so.

Can’t have it both ways now kids!

Seriously, this spin only works in the left-wing echochamber. Everyon knows that any economic bad news is because of the disastrous handling of the economy by Brown, Balls et al. Must try harder.

ASDA are a left-wing echo chamber?

“Association of Socialists and Damn Anarchists?”

Hardy har har!

Keynes (and Friedman, perhaps even Hayek on some days) would approve: raise the price level > lower real wages > more jobs.

Yet those on the Left think rates should be kept on hold, we shoud devalue the GDP through more QE and keep on deficit spending, only more so.

Keep fighting strawmen – I guess it helps your ego. I’m resolutely against QE. Osborne isn’t.

@ Sunny

Seriously? What’s strawman about any of the following;

Inflation above growth/productivity increases is pretty much the definitition for lower living standards.

Super low rates, QE and large budget + current acct deficits is pretty much the definition of what leads to a weaker currency and higher commodity prices.

Weaker currency whilst still having a current account deficit is pretty much the definition of higher imported prices….helping drive inflation.

.

The point you clearly don’t like is that the policies you want aren’t helping living standards and in fact are likely to make them worse before they get better.

Interesting measure to use there, that ASDA one.

You know, the one that the report itself shows starting in May 2007. So that is actually the largest (not biggest – bloody ASDA mangling the language – although I cannot find that quote in the report?) “drop in family spending power” since 2007? In fact, the other report cited suggests a larger drop in household finances (presumably a different measure) happened more recently, but with fairly low inflation and growth leading into an economic bubble recently, I doubt family spending power has dropped much at all across the last decade. I just feel the presentation was a bit misleading?

Tyler and Sunny. Do you really believe that QE does anything apart from move investment to other assets, so propping up their prices (and creating the odd bubble)?

the strawman is the idea I support QE. I don’t (anymore).

Its not clear how the GDP is devalued by more spending though Tyler. I suspect you just sting some sentecnes together and hope no one picks you up on it. GDP growth is now lower than when Labour were supporting it just before the election.

‘Seriously, this spin only works in the left-wing echochamber. Everyon knows that any economic bad news is because of the disastrous handling of the economy by Brown, Balls et al. Must try harder.’

Priceless.

‘Asda-Walmart can’t conceal its left-wing bias. This all the left’s fault anyway. Nothing to do with the government.’

what 10 said