We are developing the social individualist meta-context for the future. From the very serious to the extremely frivolous... lets see what is on the mind of the Samizdata people.
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This is sure to work! The Guardian has up a panel discussion with the title “Labour is in a mess. Is there anything Starmer can do to turn things around? Our panel responds”. One of the panellists is Ann Pettifor. She writes,
The Bank lacks tools and legitimacy to tackle inflation. Labour should transfer that role to a new Inflation Control Office, which could use taxes, price controls and even rationing to lower inflation. Then Reeves should change the Bank’s mandate, radically: to support the economic policy of the government, not the City.
As a means to “save” Keir Starmer’s government, I am not convinced by the rationing bit. True, price controls are nearly always popular – until tried. But the people’s cry of “We want an Inflation Control Office to stop us buying things!” is heard only in Ann Pettifor’s dreams. I would advise less rich food late at night.
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Who Are We? The Samizdata people are a bunch of sinister and heavily armed globalist illuminati who seek to infect the entire world with the values of personal liberty and several property. Amongst our many crimes is a sense of humour and the intermittent use of British spelling.
We are also a varied group made up of social individualists, classical liberals, whigs, libertarians, extropians, futurists, ‘Porcupines’, Karl Popper fetishists, recovering neo-conservatives, crazed Ayn Rand worshipers, over-caffeinated Virginia Postrel devotees, witty Frédéric Bastiat wannabes, cypherpunks, minarchists, kritarchists and wild-eyed anarcho-capitalists from Britain, North America, Australia and Europe.
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The Bank of England is the CREATOR of inflation – it creates the fiat money and backs up the Credit Bubbles of the banks.
As for an “Inflation Control Office” – with “taxes, price controls and even rationing…..” – this approach caused terrible harm when the Emperor Diocletian followed it, and when every other despotic tyrant followed it.
The Guardian newspaper today has become the opposite of what the people who founded the Manchester Guardian wanted it to be – it stands for tyranny.
ooooh! Maybe we could perhaps use some rationing: how about rationing…. the supply of fiat money?
Inflation is always and everywhere a monetary phenomenon.