There seems to be nobody in charge of anything and they don’t give a bollox about the man in the street. We’ve ’done Brexit’ to regain our sovereignty but seem to have handed any notion of that over to ‘the markets’.
If the current inflationary spiral is truly ‘out of our control’ why are the government and the BOE about to inflict even more pain onto the economy, in the form of interest rate hikes, which will just choke off even more demand in an already failing economy? If this was wage driven, or if the job vacancies were because of massive hikes in demand for things, they might have a point. Trouble is, it isn’t and they don’t.
The economy needs people spending and the poorest have always spent the most, relative to what they have. As they currently have less than nothing, they will be spending nothing. The wealthiest, as interest rates head up to 4% will be squirrelling cash away in the hopes that events turn and inflation falls below that number.
What we are all in for, because of some warped ideology, by the 5th or 6th biggest economy in the world, is an absolute scandal. I just hope everyone remembers who has chosen to do this to them whenever it’s time to put a cross in the box.
bylinetimes.com
