Comments by "David Getling" (@DavidGetling) on "'The Bank of England has come back to bite the borrowers' | Jacob Rees-Mogg MP" video.

  1. The Bank's biggest mistake was having piddling 0.25% rises instead of 0.5% ones right from the start: people didn't get the message. Raising rates, by a decent amount sends the following clear messages: 1. If you demand high wages then the amount your mortgage goes up by will more than wipe out that rise. 2. If you put up your prices then the cost of your loans will more than wipe out that extra profit. Inflation is a terrible evil, because it crucifies the poorest who can't demand higher wages or put up their prices. And it eats into the savings of those who have been temperate and responsible throughout their life.
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