Britain's inflation is heading back to 4 per cent territory as you'd expect with the Bank of England printing money and using the debt to finance government spending. If you create more money, you reduce the value of the money. Citi has done another brilliant research note, which it is putting online, laying out the implications. The punters are facing pay freezes, or settlements below 2 per cent. The cost of living is soaring. Result: misery.
It was bound to happen eventually, it's nearly as immutable as the laws of physics. And we all know what happens when inflation goes up, don't we? Yes, kiddies, interest rates go up. If you thought that people reneging on their debts was on its way out, brace yourself for round two of this little party.
And the funny thing is, if those UTTER CUNTS in the government hadn't indulged in Quantitative Easing, this wouldn't be happening now.
2010 is going to be a very exciting year. For all the wrong reasons.