The Seductions of Declinism
William Davies: Stagnation Nation, 4 August 2022
“... announced its fifth interest rate rise since December, to 1.25 per cent. At the end of June, Andrew Bailey, the governor of the bank, admitted that inflation in the UK – triggered by a combination of war in Ukraine and supply-chain bottlenecks in the wake of Covid lockdowns – is likely to endure for longer than in the United States or mainland ... ”