Liz Truss perhaps looking to do a Trump/Erdogon style smack down on the BOEs monetarist morons…
Boris Johnson's likely successor wants to review the Bank of England's mandate. And some are worried https://t.co/HbQx08y8p0
— The News with Shepard Smith (@thenewsoncnbc) August 31, 2022
“The best way of dealing with inflation is monetary policy.” ~ Liz Truss
ReplyDeleteWrong. Monetary policy is only one way to deal with inflation. Another way is to increase the supply of goods and services. Ideally we want to address both sides of the equation.
Liz Truss is a swaggering moron. So is the UK as a whole.
The cause of UK inflation was not monetary policy, but shortages caused by Covid lockdowns, hair-brained “green energy” fantasies, and the suicidal boycott of cheap Russian energy and commodities.
As long as this suicide continues, monetary policy cannot cure the UK’s inflation.
Incidentally, as bad as Germany will suffer this winter, the UK will suffer much more, because the UK is an island nation with nearly zero self-sufficiency.
The West was able to use finance to control the world as long as everyone was willing to use western currency. Now that era is coming to an end. Monetary policy and finance cannot save us.
verb: truss
ReplyDelete1. tie up the wings and legs of (a chicken or other bird) before cooking.
2. tie up (someone) with their arms at their sides.
3. dress (someone) in elaborate or uncomfortable clothing.
Liz may be in for some fun.