Tuesday, April 21, 2009

Inflation still rampant

Depressingly, inflation still continues to remain well above the government 2% target at 2.9%. Sterling has also gone through a sustained period of depreciation and nothing is being done.

What I'm bemused about is how some are calling "quantitative easing" a success and stating that we need more of it. What we need to do is raise taxes, nationalise the building industry, increases interest rates and start building social housing. But don't worry, we're going to get a £5,000 voucher to buy a green car instead.

They've all gone quackers.