As the UK limps into another recession, and with inflation set to rise again today, it’s hard not to conclude that Britain’s economic cognoscenti really don’t know what they’re doing. For years, we’ve been lavished with promises of growth, investment …
The Bank of England is out of control
Quietly, quietly, a revolution is taking place in Britain. Its forum is neither the streets nor the barricades, but committee meetings chaired by economists and overseen by politicians. The Bank of England, now in its 25th year of independence from …
The Bank of England is sacrificing workers
When Britain’s brightest economists gathered last week, they set themselves a straightforward task: to decide what to do about the UK’s high rate of inflation. Eventually, after much brain-racking, they came up with a solution: to crash the economy.
It …
Why Britain can’t control inflation
“We are living in an expensive and increasingly poor country,” thundered The Guardian‘s political editor, furious at the crumbling state of the nation unable to pay its workers properly. “It is not much use lecturing people about paying themselves more …
The tyranny of digital currencies
Should we really be surprised that the Treasury and Bank of England are exploring whether to launch a state-issued digital pound? Sunak, after all, was the chancellor who first floated the idea of backing a central bank digital currency (CBDC) …
The bankers have launched a class war
When the Bank of England announced its single biggest interest rate hike in 33 years last week, and warned that the UK faces its longest recession ever, it forgot to mention one important detail. It’s the actions of the Bank …
Interest Rates UP UP And Away / Hugo Talks
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Hysteria has derailed Kwasi Kwarteng
No doubt Kwasi Kwarteng expected to spend yesterday morning putting the finishing touches to his Party Conference speech. Instead, 10 days after he announced his plan to scrap the top rate of income tax, Britain’s Chancellor found himself being schooled …
What Emergency Is It Today?? Hugo Talks
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Bankers have failed us again
A year ago, the governor of the Bank of England tried to downplay growing fears of inflation. Any increase, Andrew Bailey assured us, was understandable given the “bumpy” economic recovery after the pandemic, and he expected “it to come back …