banksters use deflation myth to get bailouts

Deflationary Myth Is Poor Excuse for Irresponsible Policy Excesses

New figures show that UK inflation was 1.9pc during the 12 months to the end of November, up from 1.5pc the month before. That was "above consensus estimates".

Having said that, British inflation, to use investment bank parlance, has "surprised on the upside" pretty much every month for the past two years.

Ever since this crisis began, economists in the City of London have underestimated UK inflation and warned, instead, that "deflation" looms. As a result of this threat, policymakers have had "no choice" but to take "bold action".

Such action, as we've seen, has meant loading up the national balance sheet with even more public debt and printing money like crazy. The fact that these deeply irresponsible fiscal and monetary excesses have funded the "bail-out" of the banks employing the economists who have spread this "deflationary myth" is, of course, a complete coincidence.

Isn't it obvious that "UK deflation" has been an intellectual conceit, conjured up by the banks to justify policies which have foisted their losses onto today's and tomorrow's taxpayers?

Full article by Liam Halligan at
http://www.telegraph.co.uk/finance/comment/liamhalligan/6844315/Deflationary-myth-is-poor-excuse-for-irresponsible-policy-excesses.html