Inflation.

 I was blogging about the UK Government and the Bank of England's policies stocking up inflationary pressures over a decade ago. Back them Alastair Darling was chancellor. But borrowing and printing money are in Labour's DNA.

Cut to 2010 and the coalition government and still the money printing went on. Under a new name: "quantative easing". It's still printing money.

Then when Cameron got in on his own, this inflationary practice still didn't stop. 

The only reason that inflation didn't take off was that companies were able to suppress wages by importing cheap labour from Eastern Europe, along with offshoring manufacturing to China. There comes a point when suppressing wages far enough makes the job untenable. That point comes when you can only do a job when you share a house with 20 other guys. When the job doesn't pay rent, or finance a mortgage, then really the tipping point has reached.

Instead of wages rising, government allowed house prices to rise to make people feel more affluent than they really were. But now renters almost outweigh owners because low wages can't finance a house purchase.

Now Chinese workers want decent wages, and the Eastern Europeans have gone home. Tick, tick, tick, that inflation-ometer started rising.

Then the pandemic forced the Government to borrow more money to pay people's wages while they stayed at home. Tick, tick, tick, some more.

Now we're in a perfect storm: A decade or more of inflationary practices, inability to suppress wages and therefore prices of goods, lack of strategic planning by successive governments, it goes on and on.

Biden's policies in America started the upward trend in energy prices. First cancelling a pipeline and re-subscribing America to Kyoto accords.

Hence the price of fuel has risen steadily since Biden got in, as companies start to implement contingencies regarding Biden's actions. 

The sad thing is that as always, the poor will be hit hardest. Those of us just existing, working and just about covering bills will find this winter quite tough.