Re: Inflation

Date: 2021-10-06 02:16 pm (UTC)
danieldwilliam: (Default)
Yes, I think that's probably a fair assessment given my understanding of inflation.

It would be more honest of the government to say
1) the World and British economies are growing quickly after a long and unusual period of contraction
2) additional changes to the UK labour market (which you voted for) are also happening
3) this means that the supply of energy and the supply of workers for many types of job is out of balance with the increaed demand
4) you will see this in some combination of shortage and prices increases for many (but not all) goods and services.
5) there is not much the government can do about this in the short-term
6) some of it will go away on its own as energy markets and chip manufacturers catch up
7) here is a longer-term plan to address the fundamentals

and I'm not saying that they are *not* saying that. Many of the elements of that argument have been mentioned. Not sure how sincere they are about it or how much they appreciate that there is an economic difference between saying a thing and doing a thing. But a bit a waffle about inflation is not really the answer.
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