Inflation; the price of food.

Inflation seems to be rearing its head at a frantic rate across the world, food and fuel seems to be the principle indicators.

But it seems that central banks especially in the UK/USA, have little wriggle room to fend off inflation, with millions of home owners relying on low interest rates to keep the cost of keeping their home. In the UK those on variable interest rates, are managing to keep the wolf from the door because of the lowest interest rates in 300 years. This is an untenable situation, it is unrealistic to keep this cheap money machine on, at some point we need to shut it down, Savers are seeing their deposits eroded both by inflation and low interest rates, currently most savings accounts offer 0.01% APR, that is £1 per year per £1000 on deposit.  Those on low incomes have been hit by a 2.5% increase in VAT (sales tax) and a substantial increase in fuel duty, wages are not keeping up with inflation, these puts a disproportionate burden on those with low incomes, as they spend more of their money on food and housing.

As the depression deepens, and the wealth transfer to Asia increases in speed and velocity, the price of food and commodities will only increase exponentially, driving more and more into poverty in the developed world, and those in developing countries may be driven to the verge of starvation. The process is only really beginning, and no one can predict the final outcome, but Tunisia may be just a taste.

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