Inflation Causes Inflation
In a brief discussion today on the BBC News 24, the presenter attributed a rise in inflation to an increase in the prices of alcohol, transport and energy costs.
That is like saying, the inflation has been caused by the inflation – or indeed, that old classic, the bureaucracy is expanding to meet the needs of the expanding bureaucracy. It tells us absolutely nothing about why the prices of alcohol, transport or energy actually rose!
I’m so glad that licence fee payers fork out £3.5bn a year to fund such quality reporting by our beloved national broadcaster.
