This current spiral in food and resource prices is international, and it this international spiral that has taken off. So has not now the time come to begin to re-think our policies ? So as to gear the UK for riding out this storm and others that will come along. . . . → Read More: Alternative inflation report – coping with an inflationary global economy
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The highest rate of inflation among the original G7 members, is our UK inflation rate. Although there is much doubt about how representative the official figure is, no one really believes the official figure under estimates inflation. Over a decade after inflation and interest rate management was taken out of the hands of politicians this is an unexpected predicament. The whole logic of the hope of the 1990s was that the UK would have a sounder monetary system if politicians and their short-term agendas were taken out of this level of economic management. That was supposedly the lesson of experience overseas. . . . → Read More: Alternative Inflation Report – Bank of England failure ? On the Today programme this morning, Terry Smith, chief executive of the City broker Tullett Prebon, was brought in to explain how the markets would be likely to react to a Labour/Libdem coalition. It is noticeable that the BBC is thoroughly incapable of challenging spokespeople from the City in the way that they would challenge . . . → Read More: The market is in control, not the politicians |
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