Inflation is claimed to be 3.1% p.a. this month, headlined today.
Yet fuel has only fallen by 1p a litre in a year. That’s odd. Oil has crashed from $140 a barrel in 2008 to $78.9 today. Home heating bills are still at mountainous levels. It cost only £400 to fill the oil tank three years ago. How come it’s now £1300? Gas too is still charged to customers at the peak level less a smidgeon. Yet natural gas has tumbled from $14 to under $4.
Something doesn’t add up.
If the real prices were charged for fuels as they are in the USA, we would already be facing deflation, as all prices could be lowered, with transport, heating and utilities all falling in cost. By keeping the price of energy artificially high, consumers are kept pinned down and impoverished, just how the Labour government likes them to be.
The CoGo (Coalition Government) no doubt cannot afford to let the prices fall either given the mess they have inherited. But this is political inflation. It is only the cost of government which is inflating. In the real world of business and commodities, prices are falling, as they are in the USA.
Asset prices are falling too. Houses are said to be rising, but you find someone who’s succeeded in selling their house recently. It’s not true. Houses are not selling, so how come they are claimed to be rising in price? Some other cunning manipulation of the statistics to hide the true story appears to be going on.
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