Stagflation Fear Is Having a British Renaissance
The word that dominated the 1970s is recurring ever more in global financial debate. The concerns are overdone, with the significant exception of Britain.
Back to the future?
Photographer: Evening Standard/Archive Photos/Getty Images
“The bad dream of EU membership is over,” the U.K.’s Brexit secretary announced to the Conservative party conference on Tuesday. “The British renaissance has begun.”
Politicians have to be salesmen, and drum up support for their ideas, and he was talking to a gathering of the faithful. But this was a bit much. There is a whiff of “stagflation” in the air, as I said yesterday. The word that dominated the 1970s is recurring ever more in economic and financial dialogues, judging by the crude but effective metric of emails arriving in my inbox.