Wednesday, 18 June 2008

The Letter

Mervyn King has to write a letter to the Chancellor of the Exchequer to explain the inflation rate. I suppose that's because the two Scottish Labour fools who have been interfering in England's economy for the last 11 years are too stupid to understand what they have done.

6 comments:

Anonymous said...

HG: In case you missed it, John Redwood has already provided the text (and reply) in his blog for 17 June. Good stuff and worth a read. Doubtless the Governor's letter will bear no resemblance!

hatfield girl said...

Off to look now, Nomad. Thank you.

Ps Do you read Alice on UK Bubble? I've given up making remarks on economics and put her in the Angels' links instead.

Anonymous said...

HG: Thanks for the tip. I was unaware until now of UK Bubble, but having had a peremptory glance (too busy just now to read in depth) I have added it/her to my bookmarks for future attention.

Sen. C.R.O'Blene said...

So he can shred it Hats?

Electro-Kevin said...

Record high street spending ?

Wassappenin' ?

Sales, people having one last fling ... denial.

*sighs*

For every silver lining a cloud.

hatfield girl said...

Inflation being a way of cheapening past expenditure, anyone able to spend on credit will be taking a bet that the government dare not let the electorate go down the drain, and are indeed having one last fling before their credit dies.

Only the credit is being used for food and housing and power. None of these can be met out of basic income any more, for lots pf people. All these 'high street spending' numbers are so undifferentiated - who looks at school uniforms and equipment expenditures separately from a splurge in the dress department?