Debunking Economics Podcast

Interest rates don't control inflation. What caused the collapse last time in inflation was rates that caused the economy to collapse and broke the back of the trade union movement. So you can't drive wage costs down any further. Next week, the Fed meets. That should be fun. But it was already for a 50 basis point increase next week. Now they're saying, oh, it'll probably only be 25. It's using the wrong model. I'll keep on putting interest rates up. Sell your bank shares. Of course, if we say stuff like that, I think we have to say... Not financial advice. See your financial advisor.