Yesterday’s announcement that the Bank of England is raising Interest Rates yet again to deal with Inflation and the Cost of Living Crisis just goes to show how clueless and incompetent Andrew Bailey really is. This is the twelfth interest rate rise to deal with this problem.
The previous eleven Interest rate rises had no effect and we continue to see prices of food and household items rising. All this proves is that the strategy of making people worse off simply is not the right way to deal with this situation. It appears that the lack of creativity and dogmatic response from Andrew Bailey and his Bank of England simply isn’t the solution to this current set of circumstances.
The Government is clueless and the Bank of England’s measures are simply making matters worse and because of all this incompetence and lack of clear thinking we all have to suffer.
The only way to deal with this situation is to tackle the root cause of the Inflation by bringing the Energy Providers down. Bring the Energy Providers back into public ownership. It’s not in our national interest to leave them in Private Ownership. As a nation we need to protect our national interests and do things for the good of the people. Anything not in the interests of the good of the nation should be outlawed. In this way there is a strong case for booting out the private ownership of these resources and freezing there assets. The alternative is to set up a Government sponsored provider to undercut them offering a competitive edge to press them out of business ie: to bankrupt them. Britain needs it’s assets owned by the British People. Many of the companies running our utilities are owned by outside and foreign interests. They have no interest in running these utilities for the good of the British people. Mostly they are exploiting the British people. Who is to thank for this situation: well none other than the good old Tories and Margaret Thatcher in particular who started off this snowball.
Yes Conservative Privatisations that started under Margaret Thatcher can be blamed for the dire predicaments that Britain now finds itself in. The Conservatives continue to uphold the vision of Thatcherism to this day and because of this they remain incapable of dealing with the current situation of high Inflation and the Cost of Living Crisis that we find ourselves in.
Andrew Bailey’s Bank of England are simply making matters worse for ordinary people by continuing to hike up interest rates resulting in higher mortgage payments, higher rents and with little to no effect on inflation. Taking away consumer spending power could also result in business contraction and job losses further compounding the issue and stifling the economy. The Bank of England’s response also risks plunging the economy into recession further compounding the issues. No wonder Andrew Bailey looked twitchy and nervous as he made his case for the Bank of England’s case for further interest rate rises yesterday.