It’s not just Britain. It’s the whole western world.
The Telegraph- Britain is in crisis because of the arrogance and delusions of the lockdown fanatics
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.
Correct, you don’t need an economics degree. However, if you voted Dipper, you would think the outcome would be great and that evil free-marketers are to blame for the inflation.
It’s going to get very ugly out.
Years ago – and I’m talking years – one of the national union leaders appeared in an interview (either the Agenda or the National News with Peter Mansbridge) where he argued the Federal government could print endless amounts of money to pay for any program it wanted. I remember thinking if it was that simple why wouldn’t every government do it? And if every government did it what would happen to their currency? Now I know. It is too good to be true. And now the pensioned union employees will be getting a 3% increase in their pension to cope with the 16% inflation rate and they will learn the truth. I love reality!
Yeah Steve, and as IDD above say’s the reality is gonna get very ugly. Whether the elites get away with it is still an open question, me I’m hoping for necktie parties for all of them. or the bladed thing, maybe the giant execution sword from Game of Thrones, and lots of beer and popcorn. I can dream can’t I?
It would not surprise me at all if that had been one Jim Stanford, alleged economist, on behalf of the CAW.
It’s not printed money, it’s much worse. Borrowed money. All that stimulus was financed by selling bonds to the banks, not by Central Banks printing it. Bank earnings were redistributed to deposits of individuals. It all has to be paid back eventually. Central banks CAN’T print money and inject it into the economy. They can only print reserves, which sit on bank balance sheets doing nothing. Money supply is from bank lending. It’s correct that lockdowns and wild spending got us into this mess, but the “money printing” narrative is wrong, because CBs can’t print money, only reserves. The current inflation isn’t monetary, it’s demand driven from stimulus financed by debt, plus the entire supply chain blown to smithereens by lockdowns.
marc in calgary “likes” your comment.
Although, we “all” seem to refer to the gov’t printing press running around the clock, you are correct in your summation.
Also, “CERB” benefits in Canada, much of which need be repaid.
I received a lump sum as I was working in the town of Ft Mac at the time of the flood. When I was laid off for 3 weeks I was paid CERB in week 2 though I hadn’t asked for anything.
I spent this all on my lost electrical tools (they were locked in a GreenLee box in the parkade) and completely submerged for a week.
I paid the CERB $ back. My former employer has offered work again to me, they seem to think that last year’s wages were good enough and can’t figure out why they can’t find a local plumber / gas fitter to do the work they’ve neglected to do in the past 40 years in their crappy hotel in downtown Edmonton. Last Feb they had 2 blowouts with water being squeegeed out the front doors, this winter will be the same.
“I owe my soul to the company store.” Thanks Tennessee Ernie Ford for the prognostication.
Over 20 Nations in collapse or crisis. The Lunatics like Trudeau and all the Premiers wo did as he said must be prosecuted and thrown in prison. They broke the law and forced injections and closed down jobs. Causing families to break up. Look how many died because of these arrogant bastards.