Turning between weekend rags, the economics subjet de moment is undoubtedly inflation. Lord Rees-Mogg writes up his assessment that the coalition could be felled by its encroaching back into the fore in Britain. It was not an offensive piece he wrote, and possessed more in words than statistics to persuade its readers.
The client state of Gordon Brown is what’s delaying the fall in prices. Our money is still being shovelled down the toilet. That is all. I think that Cameron and Clegg and Osborne are working on that now. Let’s hope, but equally let’s not waste any energy on fighting the old enemy, inflation, which is in truth defeated. The only game in town is the unwinding of the credit bubble, and the bringing of prices back down to earth.