Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
UK Inflation Could Reach 20%, Goldman Warns
Inflation in the UK could reach almost 15% in January, and may rise as high as 20% early next year in the event gas prices don't moderate.
That's according to Goldman analysts including Sven Jari Stehn and Steffan Ball who, in a new note, painted what I think it's fair to call a grim picture.
The bank now sees a recession starting later this year. Goldman's forecasts are below consensus, but still more optimistic than the Bank of England's outlook, as detailed earlier this month in a truly unf
What does the MMT crowd say about the ongoing inflation? Their silence has been deafening!
What is there to say? MMT just states that the gov need to step up and spend on the fiscal side if real production capacity is underutilized, a telltale sign of which is persistent deflation. This is clearly not the case at the moment.
MMT vs inflation
Raise interest rates and if unemployment becomes an issue fiscal side responds.
I’m so exhausted with the whole “their silence has been deafening” line. Forgive me, but that’s a stone, cold lie. Stephanie Kelton has nearly 200,000 social media followers and tweets every, single day. She also teaches, does regular media appearances, pens Op-Eds for the largest mainstream media outlets in the United States, is overseeing translations of her bestseller into multiple languages and writes a regular Substack letter.
And that’s just Kelton. So, for the commenter above, my question is this: What are you talking about? If you can’t hear the MMT crowd, it’s because you’re not listening.
Let’s be honest: “Bazza” up there wanted to make a sarcastic comment about MMT, but didn’t do any systematic research to quantify the volume of social media posts, media appearances or Op-Eds from MMT economists in order to compare any data gathered with pre-inflation trends.
If you think that’s a high bar for commenting, you’re right: This isn’t the place for uninformed comments. If you have an opinion, great! Feel free to weigh in. If you have some data, also great. Feel free to post that too. But you can save the empty sarcasm and snappy one-liners. I’m not interested in those.
Western Conservatives refuse to help the poorest folk who have the worst jobs.
A large percentage of these folks are too proud and/or have worms in their brains to think that a one-time “handout” is bad policy.
And the Earth continues to spin.