Stubbornly hard inflation hardly suprising
IEA analysis quoted in The Spectator
Mark Littlewood appears on talkTV
“Very stubborn numbers here, these are grim numbers, but frankly unsurprising numbers…
“We have, as a country, been getting drunk on cheap credit and government spending for 15 or 20 years – the longer you spend getting drunk, the worse the hangover and we are now experiencing the hangover.
“Interest rates still remain below inflation, so if you’re putting your money in a bank account with a normal interest rate, it has less purchasing power…”
Watch Mark’s full appearance here (2:58:13).