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Dear Gordon...

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Dear Gordon,

Season's greetings! Trust I find you and the family in fine fettle in Kirkcaldy, despite the icy blasts, which must be playing such havoc with the kilt-wearing fraternity north of the border.

I do hope you took my advice and bought your Christmas decorations in August from that Mohammed Fayed fellow at Harrods. Don't tell me I didn't warn you that prices would start shooting up once autumn arrived.


Karl Otto Pohl - one of my counterparts over in Germany - once said to me: "Inflation is like toothpaste. Once it is out of the tube, it is hard to get it back in again." Judging by his prices, my dentist has long understood what he meant and now I do too. Much as I'd like to, I can't promise things are going to get any better in the new year, which brings me to my final point. Do you want me to write you a fresh letter each month that inflation stays above 3pc or can I just copy and paste this one?

Yours ever, Mervyn

The horse has bolted? The cat is out of the bag?

Mervyn King showed fantastic foresight when he warned over six months ago that we were heading for rocky times.

Well done to him.

I'm glad I won't be writing THAT letter.


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Yes - Merv has been guiding us with his subtle words of wisdom.

'House prices are a matter of oppinion, debt is real' is my favourite as it is applicable yet as debt is manufactured from printing money with no backing, the illusion of debt is real enough IMHO.

Sure nobody thinks 6 x ave. salary for a average home is sustainable, the greater fool will find this out to their regret.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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