Is Depression or Inflation coming?

When you read the papers it seems to be getting worse every day. The OECD the industrialised countries think-tank forecast that the UK will be in double-figure recession this year.

Even ordinary people can see and figure out that disaster is coming fast. Yet, it could be so easily avoided. Everybody was hoping that George Osborne would really put out a budget which would restart the economy. That government is bent-over to push the country of the edge. It doesn’t make sense.

If Osborne would have reduced taxes on petrol, reduced VAT, and so on; it would have come back with people getting jobs again because the demand would grow. What did he do? He reduced the tax of the super rich who have their account outside the country anyway. Added tax on hot food which now will be bought less and it will increase unemployment. Leaving the petrol prices sky high and rising. This will bring more unemployment because it would increase prices even further and people will buy even less.

Not only car drivers are up in arm but also the haulage companies. It has come to a head that a tanker drivers’ strike is looming and if it is voted upon the haulage drivers will also back them and block all the major points to avoid the government call in the army to deliver fuel. It is incredible what people have to do to keep their jobs, home and a reasonable living.
The last time the economy grew so slow or not at all was when the Depression set in. History is there to learn from it.

Apparently, the OESD warned the government last year to slow down tax rises because the economy is slow. The government did not take that good advice and now borrow another £150billion more for their failure. They just seem to behave as completely irresponsible and stirring the ship with all their might towards a rock.

If it comes to that they are all right because they such nest eggs stash away. It is the ordinary person in the street who has to cope with the situation. What is the government thinking they are doing?

Even their own party MPs are turning more and more against David Cameron.

The Bank of England which very rarely comments on the economic policies openly stated that the squeeze on take-home pay is “ferocious”. Never ever did put a statement out like that.