What the hell did you think would happen? For the better part of two years, we paid people to stay home , and covered the cost by printing money. In other words, for two years, the amount of goods and services being produced fell, while the amount of money in circulation rose. You don’t need a degree in economics to know that more money chasing fewer products means inflation. Most of us grasp the concept of a postponed reckoning. If you took two years off work, and maintained your income by borrowing, you’d be a lot worse off. We all understand that with reference to our own lives. So why do we struggle to extend the same reasoning to our nation’s finances? Perhaps because it is human to prefer sweet falsehoods to bitter truths. It would be lovely if there really were a way to get back to growth and stable money without significant cuts. And, politics being politics, various fools and opportunists are now stepping forward to claim that this can somehow be done. First, there are … [Read more...] about Britain is in crisis because of the arrogance and delusions of the lockdown fanatics
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Our ailing economy needs another dose of Thatcher’s shock treatment
It is now not long before a new Prime Minister takes office. Amid the flurry of plans and promises, it is high time to sketch out the nature and scale of the challenge that lies ahead. Of course, we are currently passing through a period of acute difficulty, associated with high energy and other costs. Moreover, the pressure from this factor will only get worse over coming months. Yet believe it or not, this crisis will pass. The really important questions concern what happens then. Make no mistake, before this crisis hit us we were already in a bad way, with productivity growth down to nugatory levels and overall performance weak. What is the essence of this problem and what needs to be done? I have been rereading Nigel (now Lord) Lawson’s memoirs of his time in government in the 1980s, entitled “The View from No 11.” They make fascinating reading. Most people will know that, beginning in 1979, Mrs Thatcher’s government faced a tough task trying to improve the performance of the … [Read more...] about Our ailing economy needs another dose of Thatcher’s shock treatment
Boris spotted in Greece on second holiday in 2 weeks as cost of living crisis rages
Boris Johnson: Successor will continue to tackle cost-of-living SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The Prime Minister was seen with his wife, Carrie, shopping for groceries in the town of Nea Makri near Athens. He appeared to load up two baskets with goods before paying at a self-service checkout. Related articles Channel crossings top 20k - almost DOUBLE compared to 2021 Tories STILL want Boris to stay as PM rather than hand over reins His trip to the continent comes after he returned from five days at a Slovenian spa just last Sunday. The Prime Minister took the short break in the Eastern European country to have a "mini-moon" with Carrie after the couple were unable to take a full honeymoon … [Read more...] about Boris spotted in Greece on second holiday in 2 weeks as cost of living crisis rages