tag:blogger.com,1999:blog-2277215496195926573.post6060016465015207511..comments2024-01-01T07:41:51.347-08:00Comments on RALPHONOMICS: Let’s re-allocate the bloated monetary base into household pockets.Ralph Musgravehttp://www.blogger.com/profile/09443857766263185665noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2277215496195926573.post-24551327625758967442010-10-19T03:21:58.385-07:002010-10-19T03:21:58.385-07:00Neil, good point. I’ve often wondered how much of ...Neil, good point. I’ve often wondered how much of our inflation is accounted for by 1, recent raw material price increases, 2, devaluation of the pound over the last two years, and 3, the VAT increase. But I haven’t seen any figures for this. So possibly the 3% is a gross overestimate.Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2277215496195926573.post-15308921164610080402010-10-19T01:43:20.752-07:002010-10-19T01:43:20.752-07:00Inflation isn't 3% in the UK
That includes th...Inflation isn't 3% in the UK<br /><br />That includes the ongoing VAT hikes of about 1.5%, which is taxation. That destroys money, which is of course deflationary.<br /><br />There's no greater indication of a lack of understanding of money than including taxation in price increase statistics.<br /><br />Unless of course you're talking about RPI with the VAT hike taken off. In which case I'll shut up.Neil Wilsonhttps://www.blogger.com/profile/18178155357632397049noreply@blogger.com