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Post by zanygame on Oct 22, 2023 7:15:51 GMT
Inflation was caused by the war in Ukraine and the massive hike in energy prices.
How could you pretend otherwise, its both ridiculous and disgusting That's caused inflation across Europe and the UK but the reason we have higher inflation is because of the QE experiment. We printed about £500 billion to cover for the debts that Blair/Brown left and we then printed £400 billion more to get us through the furlough/lockdowns. we printed far more money (in proportion to GDP) than anyone else. And we have been very stupid to rely on importing oil and gas when we have our own beneath our feet and in the North Sea. Very stupid. You just contradicted yourself. You agreed the Ukraine war and energy shortage caused inflation across the EU and UK. But then try to claim its because of quatative easing. Inflation only came when the gas was cut off. Not before. |
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Post by steppenwolf on Oct 23, 2023 6:15:24 GMT
Read what I said: "That's caused inflation across Europe and the UK but the reason we have higher inflation is because of the QE experiment".
There's inflation that came from global influences, obviously. but the reason why we have more inflation than most European countries is because we printed vastly more money after 2008 than the EU did (proportionately) - and we printed vastly more money to cover furlough. That was bound to lead to inflation.
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Post by zanygame on Oct 23, 2023 6:51:17 GMT
Read what I said: "That's caused inflation across Europe and the UK but the reason we have higher inflation is because of the QE experiment". There's inflation that came from global influences, obviously. but the reason why we have more inflation than most European countries is because we printed vastly more money after 2008 than the EU did (proportionately) - and we printed vastly more money to cover furlough. That was bound to lead to inflation. Beg your pardon. So you think the 0.8% difference between us and the EU is due to QE. Possibly. But its a distraction. I don't think we'd be having this conversation if inflation and interest rates were up 0.8%. |
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