bookmark_borderA downwards slide


abandoned shopping basket
Originally uploaded by Chaymation

The Telegraph have a pretty grim article about how prices are rising while salaries are staying flat, so that people are able to buy less and less for their salary.

However, they forgot to point out that one of the main reasons for the rising prices is the the collapse in the value of the pound (rivalling Black Wednesday).

As far as I can see, interest rates need to go up to return the pound to an exchange rate of about £2 to €3, and then the UK should join the euro asap to get rid of these horrible exchange rate shocks.