i think clearly this is the issue of the moment. people are really worried about the cost of living. we don t know how temporary this inflation spike will be, and a lot of economists until now have been saying this is only really about energy, it s a huge supply shock, but it s very transitory. because a lot of it was to do with covid. all that. covid recovery. covid recovery, exactly. i think the fed and the bank of england s actions and other policymakers actually suggest they are now worried this is not quite as transitory, and that inflation could really take hold. but in terms of the political landscape in the uk, having just had the local elections, i think funnily enough what we have seen is we have not seeing a big backlash against this government and we have not seen labour doing as well as it ought to have done, the liberal democrats and greens have done a bit better, but the truth is, actually, keir starmer has not broken through in the way. the labour leader. the labour lea
this inflation spike will be, and a lot of economists until now have been saying this is only really about energy, it s a huge supply shock, but it s very transitory. because a lot of it was to do with covid. all that. covid recovery. covid recovery, exactly. i think the fed and the bank of england s actions and other policymakers actually suggest they are now worried this is not quite as transitory and that inflation could really take hold. but in terms of the political landscape in the uk, having just had the local elections, i think funnily enough what we have seen is we have not seeing a big backlash against this government and we have not seen labour doing as well as it ought to have done, the liberal democrats and greens have done a bit better, but the truth is, actually, keir starmer has not broken through in the way. the labour leader. the labour leader, in the way that you would have expected, and that raises a whole series of questions now about personality and conviction. it
do you think? i think it is sliuhtl do you think? i think it is slightly more do you think? i think it is| slightly more complicated do you think? i think it is - slightly more complicated than that slightly more complicated than that i slightly more complicated than that. i think clearly this is the that. i think clearly this is the issue that. i think clearly this is the issue of the moment. people are really the issue of the moment. people are really worried about the cost are really worried about the cost of are really worried about the cost of living. we don t know how cost of living. we don t know how temporary this inflation spike how temporary this inflation spike will be in a lot of economies until now have been saying economies until now have been saying this is really only about saying this is really only about energy. it is a huge supply about energy. it is a huge supply shock but it is very transitory. a supply shock but it is very transitory- supply
a huge spike just as we were beginning our big inflation spike of the late 70s. he said the math makes it plain inflation is a far more devastating tax than anything enacted by our legislators. the inflation tax has a fantastic ability simply to assume capital. capital is savings for individuals. companies call it investment and use that capital for investment. the president claims he is a capitalist because he would agree with statements like that but he goes on with policies that are responsible for the inflation that is destroying capital. harris: yeah. well, what republicans are hoping that voters will do in the mid-terms is say what has changed for me with the new president? when the answer is what you just said, all of that inflation information and the pain they feel at the pump, they will vote accordingly. it is not going to change in
No subject inflames political passions more than the powerful inflationary pressures that now squeeze every working family and nobody likes to talk about inflation more than Republicans, who have reason to believe that rising prices will lift their political boats next November.