As Bernard Levin once said : “it’s not what they say, its the way they can’t say it”. The fellow in charge of the Bank of England is trailing something bad which smells, but I can’t quite see what. Can any of you?
Me, I can’t see why we have to pay for the deliberate policy decisions (=mistakes) of our erstwhile leaders. Cameron had a golden opportunity about 2 years ago, he could have said as the Boss says sometimes, “we will not underwrite any more bonds or gilts taken out by the government after midnight, until we are elected” or something like that, but he didnt. Then at lest it would not have gone over a trillion, and something could have been done.