Twelve Interest Rate rises sanctioned by the Bank of England all having no effect on Inflation and the Cost of Living Crisis

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.

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