Ernst & Young give a warning to the Bank of England that raising the interest rates too soon will damage the UK economy.
A bit late for that, dropping from 6% to 0.5% has finished the UK off. The bullet NEEDS to be bitten, raise interest rates and kill off the insane house price bubble, it is the main thing that has got the UK into it’s mess in the first place.
There is no hurry to raise interest rates, it’s all being designed to help the crooked banks and government, and those on over-extended mortgages inflate away their debts at the expense of savers and pension funds.
Good money is being turned into bad money, and the UK is sinking as a consequence.
Recorded from Sky News, 18 April 2011.
Duration : 0:0:59