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AIBU?

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Governments WANT recession

2 replies

SOBplus · 22/06/2023 13:47

I don't understand it having lived through many recessions and its always very painful for citizens - surely there has to be a better way?
https://www.theguardian.com/business/live/2023/jun/21/uk-inflation-cost-of-living-squeeze-food-energy-interest-rates-mortgages-business-live?filterKeyEvents=true
and:
https://www.reuters.com/business/retail-consumer/fed-needs-recession-win-inflation-fight-study-shows-2023-02-24/

Bank of England must ‘create recession’ to fight high inflation, Hunt advisor says, as mortgage rates rise again – as it happened

Member of Jeremy Hunt’s economic advisory council says BoE must create “uncertainty and frailty”, after UK headline inflation was unchanged at 8.7% in May

https://www.theguardian.com/business/live/2023/jun/21/uk-inflation-cost-of-living-squeeze-food-energy-interest-rates-mortgages-business-live?filterKeyEvents=true

OP posts:
xile · 17/02/2024 15:44

Well, your crystal ball had 20/20 foresight.

Alcyoneus · 17/02/2024 16:26

Basically the corrupt government has been printing and borrowing money to give to friends in the name of recovery from 2008 financial crisis, Covid, Ukraine and energy crisis. Each one created by themselves. However it’s Joe public that has to pay for it through taxation and then inflation. And they make it sound like they did us a favour by lowering inflation. They created a recession to bring inflation down to….wait for it…double that target. So they even f’d up there.

Just so we could all pay for this government’s corruption and give money to banks, big pharma, big oil and big defence, we have been punished twice through sky high inflation AND a recession.

But hey, at least everyone enjoyed their furlough, Netflix, and banana bread baking during lockdown. What’s wrong with paying through the nose for that privilege.

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