The Bank of England has kept its base rate at 3.75%, even as this is driving unemployment upward.
The Bank of England claims it is worried about uncertainty and inflation.
People, their mortgages, their rent payments and their concerns about affordability do not appear on their radar.
The evidence is clear: we're not living in an economy where politics for people matters. Nor does providing funding for our future matter. All that matters is keeping bankers' worries at bay. No wonder we're in the mess we're in.
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Clear and concise. One thing that might get in a person’s brain and niggle through the day, spark a conversation. Who is the Bank of England for?
To protect wealth for the wealthy.
And what – so does not scarcity create inflation?!!!
I ask you – what a bunch of numpties.
This is like cutting off the headwaters of a great river and wandering why the soil downstream is drying out and no crops can be grown.
The era of stupid is truly upon on us. And look how much that costs a year – upwards of £600K per year just for Andrew Bailey.
Just got this from Rightsnet – is it any wonder that the DWP has the reputation it does
https://www.rightsnet.org.uk/now/post/69856
DWP staff angered by Permanent Secretary’s suggestion that those impacted by chronic low pay can use a staff voucher scheme to cope with rising food prices
Via the PCS Union:
Last week, Sir Peter Schofield, Permanent Secretary for the DWP, admitted that the DWP had failed to support staff by not even bothering to ask if they could increase the wage bill.
In comments that angered DWP members, he also suggested to MPs that staff impacted by chronic low pay could use a staff voucher scheme to cope with rising food prices.
As many of you pointed out, this discount scheme only gives members a miniscule percentage off food orders, and the vouchers must be paid for in advance.
“It’s like buying a gift card with a slight discount,” noted DWP member Marie. “It doesn’t pay bills, pay for school meals, or cover petrol!”
That’s a neoliberal talking abour disposable people – his staff
Neil w wrote this:
https://new-wayland.com/blog/ignore-the-bond-market/
4 terse, factual, clear, powerful paragraphs: says it all.
I wonder if Bailey has ever absorbed ‘The Theory of Moral Sentiments’ into his economic thinking?
No.
Might the composition of the Bank of England’s Court of Directors indicate/show that the governance of our nation is, in reality, more a finacialised oligarchy than a democracy?
Might the similar, democratic element denying composition of the Board of Directors of the B. B. C. confirm the oligarchic nature of U. K. governance and one of the ways in which oligarchic powers are made obscure to regular citizens?
P. S, Might the label “Court of Directors” of the B. o. E. suggest that the attitudes of its members might not include significant concern for the socio-economic welfare of regular citizens and their children?