Inflation

The inflation surge is now upon us. The CPI rate again “surprised” to the upside – Britain is the only major economy in the world to have inflation doing this. But given that the Bank of England’s printing presses have been working overtime to fund a fiscally irresponsible government then little wonder things are different here. To understand just how unusual the UK situation is, consider the below graph: despite suffering the longest recession in G20, we have one of highest rates of inflation in the developed world. The next few months will see this push higher, potentially reaching 4 percent in March and busting the 2 percent target. Without

What with his new column in the New Statesman and his articles for other outlets, David Blanchflower – a former member of the MPC – really does seem to enjoy laying into the Tories.  Problem is, much of what he says fails to convince – so much so, in fact, that I thought I’d bash out a quick fisk of his Guardian article from last Friday.  Here’s the full article with my comments in bold: We are in the midst of the worst recession most people alive have ever experienced, or will probably ever experience. It is already worse than the 1980s and it isn’t over yet. The only comparison