And here's a guide to what's been happening. From the FT.
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And whose fault is it..?
Central banks, Labour and Tory. Both have ignored the real issue since 1971 that the currency is being debased at a ridiculous pace.
Covid lockdown money printing has only exacerbated the decline. If you look back, I mentioned that covid lockdowns would probably have more negative impact on society than keeping things open. This is what I meant.
The amount of suicides, depression, mental health & societal problems that come as a result of decreased living standards due to inflation will probably be worse than covid itself.
Every time you hear the term “quantitative easing” or “government creates £x billion” they are directly stealing from everyone. The value of your time & work is being stolen by the currency being devalued.
Not only that, but every created £ is being spent on what the government want, on a whim. The real market incentives are completely broken when the government can throw billions at whatever it was.
If you asked everyone in the country what to spend billions of taxpayer money on, I can guarantee that the vast majority would rather give rises to teachers, nurses and emergency services than spending it on weapons and sending it to Ukraine.
Things will get worse and worse until we take the ability to print money from thin air out of the hands of those in power.
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