Today In Biden Land

[Kirkland Laing]

https://twitter.com/JHWeissmann/stat...77870303289344



https://twitter.com/TheStalwart/stat...30725412061192

[Master]

Our economy is not growing and the government seem to want to cause a recession first before recovery with their high interest rates.

[NoSavingByTheBell]

Our economy is not growing and the government seem to want to cause a recession first before recovery with their high interest rates.

It's all being done deliberately by design. The globalists have their plans and there's nothing we can do about it.

[Kirkland Laing]

Our economy is not growing and the government seem to want to cause a recession first before recovery with their high interest rates.

The government isn't raising rates, the Bank of England is. That's how central banking works. When inflation gets going central banks raise rates to deliberately induce a recession/economic slowdown as this causes inflation to fall. Pretty much every recession since WW2 has been deliberately engineered by central banks to control inflation with the only real exception being the 2008 financial crisis. In the eighties after the twin oil shocks in 1973 and 1979 inflation was such a problem that central banks raised rates in some cases over 20%. Imagine how many mortgage foreclosures and business failures/unemployment etc etc rates like that would cause today. Rates won't get that high but they'll probably keep on increasing them until they get a significant economic slowdown.

[Master]

Our economy is not growing and the government seem to want to cause a recession first before recovery with their high interest rates.

The government isn't raising rates, the Bank of England is. That's how central banking works. When inflation gets going central banks raise rates to deliberately induce a recession/economic slowdown as this causes inflation to fall. Pretty much every recession since WW2 has been deliberately engineered by central banks to control inflation with the only real exception being the 2008 financial crisis. In the eighties after the twin oil shocks in 1973 and 1979 inflation was such a problem that central banks raised rates in some cases over 20%. Imagine how many mortgage foreclosures and business failures/unemployment etc etc rates like that would cause today. Rates won't get that high but they'll probably keep on increasing them until they get a significant economic slowdown.

You are right the Bank of England is separate from the Chancellor since 1998 but the government support the move.

[Kirkland Laing]

Our economy is not growing and the government seem to want to cause a recession first before recovery with their high interest rates.

The government isn't raising rates, the Bank of England is. That's how central banking works. When inflation gets going central banks raise rates to deliberately induce a recession/economic slowdown as this causes inflation to fall. Pretty much every recession since WW2 has been deliberately engineered by central banks to control inflation with the only real exception being the 2008 financial crisis. In the eighties after the twin oil shocks in 1973 and 1979 inflation was such a problem that central banks raised rates in some cases over 20%. Imagine how many mortgage foreclosures and business failures/unemployment etc etc rates like that would cause today. Rates won't get that high but they'll probably keep on increasing them until they get a significant economic slowdown.

You are right the Bank of England is separate from the Chancellor since 1998 but the government support the move.

Any government would support it. A Labour government would certainly support it. The default position of any western government is supporting sound money. If you have inflation at too high a rate then any government of any political stripe is going to support high interest rates to squash it even though they know that high rates will cause lots of people to lose their houses, jobs and businesses. It's an unfortunate aspect of capitalism when you have a situation like this but never mind, nothing else you can really do.

[Master]

Our economy is not growing and the government seem to want to cause a recession first before recovery with their high interest rates.

The government isn't raising rates, the Bank of England is. That's how central banking works. When inflation gets going central banks raise rates to deliberately induce a recession/economic slowdown as this causes inflation to fall. Pretty much every recession since WW2 has been deliberately engineered by central banks to control inflation with the only real exception being the 2008 financial crisis. In the eighties after the twin oil shocks in 1973 and 1979 inflation was such a problem that central banks raised rates in some cases over 20%. Imagine how many mortgage foreclosures and business failures/unemployment etc etc rates like that would cause today. Rates won't get that high but they'll probably keep on increasing them until they get a significant economic slowdown.

You are right the Bank of England is separate from the Chancellor since 1998 but the government support the move.

Any government would support it. A Labour government would certainly support it. The default position of any western government is supporting sound money. If you have inflation at too high a rate then any government of any political stripe is going to support high interest rates to squash it even though they know that high rates will cause lots of people to lose their houses, jobs and businesses. It's an unfortunate aspect of capitalism when you have a situation like this but never mind, nothing else you can really do.

This government have been in power for 13 years and since that time have had low growth, caused unnecessary division by Brexit, tanked the economy with Truss budget which has all led to unparalleled strikes, rise in cost of living and profiteering from supermarkets/utility companies.

[Kirkland Laing]

Our economy is not growing and the government seem to want to cause a recession first before recovery with their high interest rates.

The government isn't raising rates, the Bank of England is. That's how central banking works. When inflation gets going central banks raise rates to deliberately induce a recession/economic slowdown as this causes inflation to fall. Pretty much every recession since WW2 has been deliberately engineered by central banks to control inflation with the only real exception being the 2008 financial crisis. In the eighties after the twin oil shocks in 1973 and 1979 inflation was such a problem that central banks raised rates in some cases over 20%. Imagine how many mortgage foreclosures and business failures/unemployment etc etc rates like that would cause today. Rates won't get that high but they'll probably keep on increasing them until they get a significant economic slowdown.

You are right the Bank of England is separate from the Chancellor since 1998 but the government support the move.

Any government would support it. A Labour government would certainly support it. The default position of any western government is supporting sound money. If you have inflation at too high a rate then any government of any political stripe is going to support high interest rates to squash it even though they know that high rates will cause lots of people to lose their houses, jobs and businesses. It's an unfortunate aspect of capitalism when you have a situation like this but never mind, nothing else you can really do.

This government have been in power for 13 years and since that time have had low growth, caused unnecessary division by Brexit, tanked the economy with Truss budget which has all led to unparalleled strikes, rise in cost of living and profiteering from supermarkets/utility companies.

All of these things can be true and much worse. You can have even worse governments than this one but none of the stuff above has to do with monetary policy. Central banks have a mandate from the state to maintain stable prices/low inflation. This means bad economic stuff happens when inflation gets out of control but raising rates to damage the economy is seen as the lesser of two evils compared to allowing inflation to continue so that's what we get.