Paul

🆘 ⚠️ The foundations of the British economy are already shaking. House prices are falling. Mortgage approvals are collapsing. Small businesses are disappearing. Families face falling real incomes and energy bills they cannot control. The @bankofengland knows all this. Its own report records the weakening housing market, declining mortgage demand and tighter credit for SMEs. Yet it has arrived with a crane and swung a wrecking ball into the building. Higher rates mean larger mortgages, falling property values, more arrears and repossessions, weaker investment, business failures and greater pressure on renters. The Bank calls this “restrictive monetary policy”. In plain English, it is deliberate destruction: making people poorer until they can no longer afford their mortgage! The inflation is being driven principally by war and imported energy, not a British spending boom. Calling this a cure is dishonest. It is an aggressive monetary intervention whose destructive consequences are known in advance. When the foundations are shaking, responsible authorities reinforce the building. They do not attack it with a wrecking ball.