We all agree food prices are rising dramatically.
Labour hoped that a policy of spending, borrowing and taxation would lead to growth or least an improvement in confidence. This clearly isn't working, but they will refuse to admit it as long as possible, and will harp on about their achievements, which I think is pretty much down to "free" school meals now.
I genuinely have some sympathy for KS and RR, as they realised we need to make some attempt at reducing public spending, but after the PIP debacle, they know they aren't going to make any significant headway and we now have a 40BN black hole, but this time it's real..I would probably cry with frustration too.
In short, I expect things to get a lot worse, I expect...
- To be in a recession within 6 months
- Double digit inflation.
- Unpopular budget
- Bond markets loose confidence, run on the pound
- GE, which Reform win
- Bond markets really loose their shit.
- Gawd knows...!
The issue ultimately lies with the electorate, across the western world we have been voting for parties that promote living beyond our means for the last 40 years, and the financial markets have loved lending us the money.
There's a saying in economics "The rider is fatter than the horse"...
Personally, I'm trying to prepare for the shitstorm that I fear I's coming down the pipe. I'm not a "high net worth individual", but I happen to know many, and they are leaving in droves, as they are will informed and mobile.