The UK entered recession in the final quarter of 2023 after households cut back on spending, an entirely predictable consequence of real-terms pay cuts
The causes of inflation and recession have been known for decades. There have been, through the years, examples of countries that avoided those issues so it is also known how not to have inflation or recession. Both are tools for suppressing the working class and enriching the ruling class. Using these tools should be a criminal offence with double penalties for “leftist” parties and economists who use them.
Inflation is a caused by too much money chasing to few goods. The leaver the government/BoE has at its disposable is interest rates rises that in effect remove money and brings down inflation. Yes it's deliberate, read anything for the BoE and they spell it out very clearly. It is not nice medicine and no one wants to inflict it, but it works and is essential. The pice is just a winge and straight out of the 1970s left handbook of bollocks.
The causes of inflation and recession have been known for decades. There have been, through the years, examples of countries that avoided those issues so it is also known how not to have inflation or recession. Both are tools for suppressing the working class and enriching the ruling class. Using these tools should be a criminal offence with double penalties for “leftist” parties and economists who use them.
Inflation is a caused by too much money chasing to few goods. The leaver the government/BoE has at its disposable is interest rates rises that in effect remove money and brings down inflation. Yes it's deliberate, read anything for the BoE and they spell it out very clearly. It is not nice medicine and no one wants to inflict it, but it works and is essential. The pice is just a winge and straight out of the 1970s left handbook of bollocks.
That's a startlingly simplistic view for a self-declared stats nerd. 😅
Yup, not trying to be over complicated and there are other cause of inflation. But in essence it is too much money chasing to few goods and services.
Alexei Sayle : "Austerity is the idea that the 2008 financial crash was caused by Wolverhampton having too many libraries." He should be Chancellor.