Thursday 14 May 2009
You think the Bank of England/Treasury have a great plan between them. You are wrong.
You might think you are safe to assume that the UK is not Zimbabwe, and the people pulling the financial levers of our country know what they're doing.
But you could not be more wrong. They are totally making it up as they go along, and if they get it even so much as 1% wrong, and the odds are overwhelming that they will do so, the consequences will be devastating to the pound in your pocket (or in your bank). The same can be said of the dollar and the monetary authorities in the good old US of A.
I don't pretend to you that I know what they should do. But I do know that they should not do what they are doing now.