Treasures from the threads - Number fifty-two

To an article about above target UK inflation and another stupid letter to the boy Chancellor Osborne from BoE Governor (shifting goalposts) King, linked here, comes this pithy point:

ultron

3 minutes ago

The continued wilful failure by the BoE to execute its mandate and contain inflation is astonishing. There is only one reason why interest rates are being held artificially low: to support the housing market. Companies do not need these rates--they are not borrowing! They are sitting on cash piles and waiting for better times. Does King want to reinflate the property bubble? Yes. It's a disaster for pensioners and savers, of course, but who cares about them as long as the speculators and the rash are bailed out? I have some advice for you, Mr King: it's going to end in disaster. Long-term rates are going up, whatever you do, and property is coming down.