Gorgons transatlantic grumpiness is exposed in the Mail, this stands out.
‘It did not start in Britain, it started in America. We have had low interest rates and low inflation. Every other recession in Britain has been created by high interest rates and high inflation. That has not happened under me.’
Nope, the reckless Moron exported our consumer inflation out to the far east, and the capital flows coming back created an inflationary housing bubble. So yes it was Inflation.
The joys of Fiat Money and the Fractional reserve banking system, what an absurdity.