Journalists need to understand basic maths!

Here in the UK the ‘good news’ is that inflation has come down, so roving journalists went onto the streets and asked people how this would affect them, the suggestion being that lower inflation will make people better off. This was the actual comment again and again.

Listen to this complete nonsense.

Of course you will immediately realise that a bit less worse off does not make you better off.  But the journalists seem not to understand that basic concept of maths. Up is up and not down, less up is less up, and not down.

The Bank of England has a ‘target’ inflation of 2 %. What that means is the value of money should go down by 2% each year, which would be seen as doing a good job. That means people will be 2% worse off if the plan works.

It seems to me that we live in a crazy world if the plan is to be worse off every year. By design. It is not surprising that many people find maths difficult when nonsense is hurled at them from people who should know better.

Britain’s financial state has been reassessed and although still ranked as a AAA rating there is a lowering of the economic outlook, and so they say we now have a 1 in 3 chance in the next  18 months of having our rating downgraded to AA+.

The idea that the people who did not see the financial crisis coming, who overlooked  debt at massive levels by countries and by people and by companies, can somehow predict this as being a 1 in 3 chance is surely pure fantasy, but we are supposed to believe it?

It is similar to the nonsense that shops are allowed to have signs saying up to 100% off, and of course 0.0000000001% off is a perfectly possible part of an up to 100% off sale. It means nothing.

The people who are in charge of many of our organisations, including banks, seem to be confused or are willing to be confusing, for their own purposes. It is time we woke up to nonsense.


About Graham Rawlinson

I now have 5 books published as Ebooks They feel like part of a life's work, somehow all the different jobs I have had in my life, from postman to psychologist to facilitator of inventions and running a food business, they all build into a way of loving life, the ups and the downs. I hope you like the blogs I write, and then like the books I write. I hope you will want to take some time out of your life to share some thoughts with me. For that, I thank you. Graham
This entry was posted in Economics, Education, Money, science. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s