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2021-10-05

"CIB chairman Edward Spalton reflects on the current supply-side shortages from a historical perspective"

Those too young (or too old and forgetful!) to remember the 1970s may be interested in his recollections of the impact on the UK when we joined what was then known as the "Common Market".

Food prices rocketed and supply chains were severed and rebuilt, and meanwhile there was a certain amount of chaos as over time people discovered the ramifications of joining the EEC.

We are in such a period now, but on a much larger, indeed global, scale.

Once again, this has been precipitated by our politicians pursuing pet projects - playing the (eminently survivable) Covid "pandemic" in the teeth of the evidence, and pursuing the (eminently unnecessary) holy grail of carbon neutrality. Funny how both of these were and are still promoted by the UN and the WHO.

This time however, for good measure, we can also throw a global financial melt-down into the mix.

Will this end well? I guess it might if the world can somehow throw off the evidently poisonous mix of financiers, politicians and potentates that got us into this mess, whatever the reason. 

Fresh thinking is clearly required, and the usual suspects are not likely to deliver it.