What’s the word we’re looking for?

Ah, inflation, that’s it.

9 thoughts on “What’s the word we’re looking for?”

  1. I read his post on why the government ‘isn’t’ borrowing to pay for COVID – I’ve seen interview candidates straight from university with far greater understanding of economics than him. It speaks volumes to the debasement of higher education that someone so ignorant was seen as warranting any kind of academic position

  2. If interest rates reach 5-6-7 % then most income tax take will have to cover interest payments on Govt borrowing so far.

    So only funny money creation or rebellion level tax rates would be all that’s left to try and pay the rest of their bills. That sounds like a spiral starting up to me. Since even Mugabe or Chavez didn’t dare to steal enough tax NOT to have to print money then Bogus and the gang would print as well.

    How far can they raise int rates before such a spiral begins?

  3. The word I’d use is hubris. People like Murphy seem to believe that the government simply has to order something and it both can and will be done. Even a very petty bureaucrat like myself can assure you that this is simply not true.

    Since my favourite whinge is foreign policy, I’m always bitching about the imbecility of the woke in trying to drag the West into sorting out the messes in the Middle East and elsewhere. Of course I’m especially pissed off when our soldiers are dragged into the nonsense, and the left then try to crucify them when they kill a few, or a few hundred wogs.

  4. He should ask Erdogan how the government declaring interest rates and inflation is working out for Turkey.

    No doubt that’s the wrong sort of MMT.

  5. @Diogenes, my guess is his pension and savings are all in bonds (as he hates ISA’s, equities, buy to let properties and all other investments). The success of his investment strategy is shown in the fact he is appealing for donations on his blog. He wants everyone else to be as miserable as he is.

  6. He wants everyone else to be as miserable as he is.

    Isn’t that the same for all prodnoses and temperance busybodies?

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