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BoE Makes History With Most Confused Policy Decision Ever
The Bank of England carried on Thursday with what's now among the longest easing cycles of the post-
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They had a choice. They chose to endure inflation and try to stave off a recession. I thought it was a good decision but I can really see the opposing point of view as being valid. Credit crushed them. Maga is about to put the US into a similar dilemma. No matter how you spin it, it amounts to bad policy change causing a fall in our standard of living. I am waiting for the torches and pitchforks to come out…
‘Brexit’ not credit
At one point, I dreamed of owning a small cottage in the Lake District along Wainwright’s footpath.
No longer a dream.
England is an absolute mess, largely self-imposed. I won’t list all the problems here, but in this morning’s London Times- Starmer was already justifying raising taxes to cover a 50B gbp shortfall because lower rates were helping make housing more affordable. (huh?)
Meanwhile, among other things, he is saying bus fares must go up. And immigration lawyers are already saying the poorly worded “one-in, one- out” agreement won’t hold up in court.
There is a cell phone stolen on the streets of London every 8 minutes (the math on just the reported crimes). Last time I was there, someone on a bike tried to steal my phone while I was walking in a park. Luckily, my experience of living in NYC decades ago, made me immediately aware something was odd with the man on the bike coming towards me and I was prepared just enough to keep my phone, even though I did fall down.
Going back this fall, however. Taking a flip phone.