Poorly controlled inflation is theft of money from savers for the benefit of debtors, such as overspending governments. QE was inflationary, totally intentionally, recent interest rate policy has also been questionable.
Leaving the next generation with huge debts so that we can keep our public services, pensions and live to the standard to which we've become accustomed without paying our way is also pushing the cost onward.
Just to clarify my point regarding wealth transfer is the house price increase, first time buyers throwing huge amounts of money up the property ladder just to get a foot on the rung. There's a few reasons for that one.
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Originally Posted by Flyboy
Nope, don't ever remember complaining about that.
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Can't be bothered to find examples but I'm fairly sure you've complained about party politics in threads.
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Originally Posted by Flyboy
VAT and the fuel duty has already happened, albeit since January. It cannot be denied that the has not influenced how people plan their financial future.
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The VAT increase made me spend more speaking for myself to take advantage of the lower VAT rate.
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Originally Posted by Flyboy
What cannot also be denied, is that when the economy was doing better before the election, it wasn't good, but now when the economy is doing poorly, it is not a bad thing.  Seems a bit upside-down, don't you think? |
Depends on the level of tunnel vision involved. If ignoring everything else and concentrating purely on GDP figures absolutely, but it is of course more complicated.
Regardless it's just the usual politicians playing the usual points scoring game, one difference I will note however is one admitting that things wouldn't be pleasant, or smooth, the other appearing to give the impression that so long as the blank cheques continued things would be fine.
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Originally Posted by Flyboy
But then consumer spending has not even been included in the current figures. So, Osborne's bleating about the weather was a bit of a red herring.
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The ONS disagrees. The weather affected construction, hospitality, transport, various things and is responsible according to them for approximately 0.5% of the loss, they claim it would have been flat otherwise.
It's disastrous, politicians are slimy, government is spending far too much which is putting the country further into debt and taxing too much which is killing growth. Usual story.