Originally Posted by
mickd1961
This lot running the BoE are useless.
They spent all last year telling us that inflation would start to fall dramatically during 2023 and today they stick interest rates up yet again and are now forecasting inflation isn't going to be dropping as presumed and indeed, may continue to go up a bit.
I don't know what qualifies these people to sit at the head table at the BoE but they are clearly not fit for use.
I could've told them 12 months ago that inflation would remain high in 2023, it will in 2024 as well........you heard it here first.
We have been specifically "conditioned" to accept and live with higher prices for the past 18 month and have started to learn to live with it, this suits big business and the markets and I see no end of it.
Constantly promising people "jam later" is just a ploy to keep the lid on the population, THEY KNOW that inflation isn't going away anytime soon.
The other thing that p I s s e s me off with inflation is that it's always a measure against prices the same time the previous year so in effect, prices were through the roof in February 2022 and even if they only rise by 5% or 6% year on year this is still a rise on what was a catastrophic % rise the year before.
It's like we're expected to cheer in unison because inflation this year on a product is only 4% higher than the disastrous price we were being forced to pay 12 months earlier.
Once people are conditioned to paying a price there's absolutely no motivation for a brand or supplier to ever reduce that product back to 2020 prices even if their cost price to themselves has actually dropped.
I've listened for half an hour to these "grey" and insipid morons from the BoE and been totally underwhelmed at their explanations and their lack of a grasp as to the subject matter they are supposed to be experts on.
It's like watching a bunch of "special needs" people playing "pin the tail on the donkey", they are absolutely clueless.
