In today’s Daily Telegraph, there is a good letter on inflation, ‘quantitative easing’ and the Bank of England.
Commenting on institutional processes in which the centrally planning blind lead the politically blind, the author – one Quentin Pain – concludes:
The Osborne bubble may seem attractive to a government that is having to make significant cuts to the public payroll and which is desperate to reduce debt. But like all bubbles it will eventually burst – and with a general election likely in 2015 it may, for the Coalition, come at just the wrong time.
Indeed. But such is life for those who endlessly love to fondle and play with the loaded gun of economic socialism. Every now and then, you are liable to shoot yourself in the foot!