Fewer than 20% of economists think that there are grounds for optimism in 2022. The rest are more closely attached to the real world.

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I have already noted this morning that the general public is little enamoured with the endeavours of the UK government. It is fair to say that economists appear little more impressed, based upon a survey published by the Financial Times. They produced this result when 100 were asked for their opinions:

I am sure that the two or three per cent who thought that things were going to get better in 2022 must have had a reason, but I suspect that it was down to ideology. I put myself in the 60 to 70% to think that things are going to get worse. It is very hard to see how the combination of Covid, Brexit, short-term inflation threats, rising private debt and asset bubbles add up to anything but a significant threat to well-being which this government is wholly unwilling and unable to address.

It seems that fewer than 20% of economists think that there are grounds for optimism in 2022. The rest are more closely attached to the real world. This is going to be a bumpy ride.