Douglas Carswell's Blog

Still they don't get it

Very good article by Fraser Nelson over on Coffee House.

Fraser points out an extraordinary truth;  More than four years after the credit crunch hit, many of the leading decision-makers in SW1, the Treasury and the Bank of England are still pretty clueless about what caused it.

The credit bust was a consequence of the credit bubble made by policy "experts" in the Treasury, Bank of England and government.  Years of cheap credit and artificially low interest rates caused chronic malinvestment, which we all mistook for growth.

If you are going to blame bankers, blame central bankers first.

Back to all posts