Madman Economics
William Davies: What the hell is going on?, 20 October 2022
“... interest rates have to go up and it’s a good thing,’ Truss’s maverick economic guru, Patrick Minford, told the Times in July. ‘A normal level is more like 5-7 per cent.’ House prices are now set to fall at least 10 per cent over the next year, while anyone who took out a two-year fixed-rate mortgage in summer 2021 may find that their interest ... ”