O
oompah
Lies ,damned lies,then there are statistics.
market crash ?
- Thread starter Richardp
- Start date
there are several ways of measuring inflation.
We used to have the RPI based on a basket of typical stuff the "average" family would buy
IIRC Thatcher's lot brought in a different measure which made things look better at the time.
Depending on which index suits them on the day, you hear politicians talking about CPI, RPI, RPI-X and Underlying Rate. They all do it, they're all crooks.
Housing costs are excluded
one effect of this is that massive Asset Price Inflation, like house prices doubling in 5 years, are not counted as inflationary
Unles you buy exactly the same mix of goods as the "typical basket" your personal rate of inflation will be lower or higher.
I've heard that Young People's perceived inflation is lower than Old People's perceived inflation, because MP3s, PCs, TVs, DVDs, Chinese sofas etc keep getting cheaper but water rates council tax, Werther's Originals, cat food keep getting dearer.
The ONS is quite capable of accurately measuring inflation by whatever scale they are told to, but politicians and newspapers will always bend the truth.
http://www.statistics.gov.uk/cci/nugget.asp?id=19
We used to have the RPI based on a basket of typical stuff the "average" family would buy
IIRC Thatcher's lot brought in a different measure which made things look better at the time.
Depending on which index suits them on the day, you hear politicians talking about CPI, RPI, RPI-X and Underlying Rate. They all do it, they're all crooks.
Housing costs are excluded
one effect of this is that massive Asset Price Inflation, like house prices doubling in 5 years, are not counted as inflationary Unles you buy exactly the same mix of goods as the "typical basket" your personal rate of inflation will be lower or higher.
I've heard that Young People's perceived inflation is lower than Old People's perceived inflation, because MP3s, PCs, TVs, DVDs, Chinese sofas etc keep getting cheaper but water rates council tax, Werther's Originals, cat food keep getting dearer.
The ONS is quite capable of accurately measuring inflation by whatever scale they are told to, but politicians and newspapers will always bend the truth.
http://www.statistics.gov.uk/cci/nugget.asp?id=19
I agree that the media have influence ,for instance i'm convinced that the insurance companies jumped on the bandwagon when they went on about bad interest rates affecting mortgage endowments, i'm convinced that things wern't that bad, how many of them failed to produce profits during the so called "crash".
john
i watch my footy on sky (cable, no dish).. i live in surrey and im not sure we get ITV where we live
seriously, i dont think the average person believes the newspapers anymore and im pretty sure that the op meant the televison.
i would get the thread shut down if i started up about murdoch. its bad enough that i compound my guilt by paying for sky sports.
i used to think the bbc was part of being british. now i know the news teams to be propaganda puppets of the govt, any party govt.
i know for a fact that they lie and i know for a fact that they comment when they could not possibly have been in the place they said they were.
i dont choose to explain because it would take to long but i think that megawatt and thermo would back up that statement as they have been indirect employees of the govt, as have i.
to have some agenda driven journo comment in their usual chattering way about issues where lives are involved makes me puke.
everyday, some news editor goes to the newsroom and decides to make a 30second slot about the economy and we as a country sook it all up as fact! well it is not fact, it is the agenda driven opinion of who?
how qualified are they?
they only get the job because the are someones son, are ethnic with a chiswick accent or are a gorgeous looking woman with the right look!
am i bias! im not sure that i am but im dead sure that they are?
Its not just in politics, the media will swing with public opinion aswell even if the public opinion is unjustified simply to get the most viewers they can and increase revenue from advertising.
Put money into anything and it can distort the the truth for monetery gain
look at the blatant mismatching (as far as im concerned a form of throwing or influencing the outcome of a match) that went on and still does in boxing after the big TV payouts started.
Put money into anything and it can distort the the truth for monetery gain
look at the blatant mismatching (as far as im concerned a form of throwing or influencing the outcome of a match) that went on and still does in boxing after the big TV payouts started.
i mentioned earlier about my nephew allowing all that extra stuff on his mortgage.
at the time my sister asked me to speak to him because it is madness to put stuff on your mortgage.
i could tell at the time that i was wasting my time because he was a little kid when this sort of thing last happened and he clearly thought it would never happen again.
worse still is that he is an accountant and his mrs is an estate/letting agent..
agreed
that is why i am so disgusted and disappointed by the bbc.
i expect it from murdoch and itv but my licence fee was supposed to allow the bbc to be free of this sort of thing.
http://www.statistics.gov.uk/elmr/04_07/downloads/ELMR_April07_Wingfield.pdf
Allocation of items to CPI divisions in 2007
Representative
Observed Items2
CPI weight variation in (per cent
(per cent) price changes1 of total)
1 Food and non-alcoholic beverages 10.3 High 22
2 Alcohol and tobacco 4.3 Low 4
3 Clothing and footwear 6.2 Medium 11
4 Housing and household services 11.5 Medium 5
5 Furniture and household goods 6.8 Medium 11
6 Health 2.4 Low 3
7 Transport 15.2 High 6
8 Communication 2.4 Low 1
9 Recreation and culture 15.3 High 17
10 Education3 1.8 Low 1
11 Restaurants and hotels 13.8 Low 8
12 Miscellaneous goods and services 10.0 High 11
Looks to me like they're doing their best...
N
namsag
Swings and roundabouts no matter who is in power and too many young ones and people who should know better think that property only goes up, well they are finding out the hard way that it can crash and dramatically which is now happening.
Property does always go up, at least in the long term. We are not experiencing a dramatic crash yet, less than 2% drop in already inflated prices?
The people who suffered from a massive drop the last time round, and the time before that, what are those properties worth now?
N
namsag
Yeah we know it goes up in longterm but how many people drop by the wayside on crashes, repossesions are now at a 20 year high and if anybody bought in the past say 2 years the crash will be dramatic as it was in mid 90`s and late 80`s.
Also it does not mnatter what those houses are worth now if the people who lost out no longer own them.
Personally in 25 years i have saw my own house to and fro going up 400% dropping back by 50% recovering 50% dropping 25% and at present has an increase of 800% on what i paid.
But as i dont intend moving it is only a home and nothing else
Also it does not mnatter what those houses are worth now if the people who lost out no longer own them.
Personally in 25 years i have saw my own house to and fro going up 400% dropping back by 50% recovering 50% dropping 25% and at present has an increase of 800% on what i paid.
But as i dont intend moving it is only a home and nothing else
If you buy your house as a home to live in, price fluctuations don't matter.
You need one house, you have one house.
The people who look on houses as a get-rich-quick scheme, geared up to take advantage of expected price inflation - who cares if they go bust? Not me.
You need one house, you have one house.
The people who look on houses as a get-rich-quick scheme, geared up to take advantage of expected price inflation - who cares if they go bust? Not me.
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