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This is a rant, yes - but I'm cross with my (soon to be ex) bank. We've all been there, I know.

HSBC (who I have used for business for 1/hsbc years, and longer personally) have become more and more de-personalised over the last few years. I no longer even know if I have a bank manager, let alone what their name might be - and my businesses channel a not inconsequential amount of money through them annually (that sounded awful - sorry, I don't mean look at how much money we have - more give you understanding that we're not just talking about a few 1/hsbc,/hsbc/hsbc/hsbcs here).

They won't lend. Ever. Despite growing at a reasonable pace over the years, and having a fantastic credit history and strong invoices going forward they have NEVER wanted to help my wonderful, small / medium tech business. Anecdotally from friends, that is not reflective of us. They simply do not give a shit about small / medium businesses. Or tech. PERIOD.

/hsbc /economics

Quantitative Easing gave money back to the wealthy by buying bonds they held with made up money. Money which ended up not pushed into exciting new investments and interesting new jobs, but re-invested into other assets whose prices all went up like overstuffed geese.

Traditional economic theory explains that giving in to the age-old governmental temptation to simply print money leads to inflation. More of anything sloshing around makes that thing less valuable. But an interesting thing happened with QE - no inflation (and even deflation in some countries) - it's a miracle cure! But that says more about how inflation is measured. The prices of many things - houses, classic cars, art, stocks - skyrocketed, but they aren't generally measured in official inflation figures. At the same time, wages stagnated and food & oil prices dropped. So we had differential inflation - the top 2/economics% of the population (the non-wage earners generally) experiencing huge, positive inflation of things they own - and the bottom 6/economics% (those with jobs) benefitting only if they were already home/stock owners and having no effect on the rest. When I say no-effect, what is actually happening is that in-relation to the cost of property etc they have got considerable poorer, but using a pernicious type of inflation that also keeps salaries low.


Money printing has caused inflation. It's just that so precious little of that wealth has trickled past the highly wealthy, the working population saw no pay rises, and supermarkets could not up their prices consequenty. I predict: food and consumer goods inflation has to come soon, leading to even measured inflation rising. Some supermarkets will go bust as they can no longer hold back the force of £ devaluation and rising input prices vs consumer's ability to pay higher prices.

/economics /inflation