Interesting Inflation News Links (February 27, 2009)

* Eurozone jobless queues lengthen (BBC News)

Unemployment across the nations that share the euro has risen again to its highest level in more than two years, as more firms laid off staff.

* Sir Fred Goodwin: Pensioners struggle as exbanker gets �650000 a year (Telegraph)

The former RBS boss accrued a �16m pension pot during his time with the group, which has announced a record corporate loss of �24bn. But many other pensioners are struggling to make ends meet after seeing steep falls in both the interest they earn on savings and the value of their stock market holdings.

* Bradley A. Smith: Washington should halt its unhelpful financial ‘aid’ (Columbus Dispatch)

President Barack Obama was elected to repair the economy but, in percentage terms, the stock market has dropped more since his election than it did in the previous months.

* Lawmakers call for assessment cap

Jefferson City — A group of Republican lawmakers proposed Thursday to limit increases in property tax assessments as a way to give relief to Missouri homeowners.

* One fifth of council tax goes on local authority final salary pensions (Christopher Hope, Telegraph)

The news came after it emerged that three out of four councils are planning to raise council tax by an inflation-busting three per cent to �1,414 from April.

* Inflation Blips Up in Jan., But Increases Won?t Last (Knight Kiplinger, Kiplinger’s Personal Finance)

I just attended a franchise seminar. The speaker represents a few hundred franchises that (he says) are hand picked. He has the prospect (aka victim?) answer some questions about themselves then he makes recomendations – based on your personality, capital situation, etc.. If you pick a franchise, then he does some due dilligence for you. If you both decide it’s a good idea, he helps you get sta…

* Bigger US budget problems to come after year one (Martin Hutchinson, Telegraph)

There was a lot in the budget to like. Obama’s healthcare reforms are supposedly paid for by savings in Medicare, the US health plan for the elderly, and reductions in tax allowances for those earning over $250,000. The detail evident in the proposals for medical savings suggests serious thought, and that they may be achievable. Still, the $633bn due to be saved over ten years doesn’t buy all t…

* Need to know: Tata drops … C&C adds variety … Serco profits (Times Online)

UK property : House prices in England and Wales fell 15 per cent in January from a year earlier, official figures showed. Prices fell by 0.8 per cent last month, wiping more than �1,300 off the value of an average home. The sale price of an average property is now �156,753.

* Antiques preserve experience of the world’s first skiers (Daily Camera)

CARBONDALE — Skiing has its own version of inflation that goes something like this: When skis get better, skiers get better. When skiers get better, they ski harder terrain. When skiers ski harder terrain, they demand better skis, so the whole cycle begins again.

* Gold price starts to rise again (Bloomberg News)

European equities fell and US stock-index futures dropped. Crude oil and industrial metals also declined. Gross domestic product contracted at a 6.2pc annual pace from October through December, more than economists anticipated and the most since 1982.


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