![]() ![]() Although the focus will be on D&D, please feel free to incorporate ideas from other games in your homebrews. This community is for Homebrewing in D&D for all versions. That way he could do his bit for the climate, while giving someone more competent a chance to bring inflation back under control.Welcome to /r/DnDHomebrew! Do you like Tabletop RPGs? Do you like your imagination? We can help you with that. If he wants to retrain for an alternative career, there are plenty of opportunities for heat pump installers, I understand. Number 11 must have quite a stash of letters by now, albeit missing out the bit where Bailey should have written: “I appreciate that I have failed in my central duty of trying to control inflation and am therefore tendering my resignation.” I don’t suspect he has spotted, either, the inflationary pressures presented by net zero targets – as businesses are forced to resort to more expensive energy and methods of doing things.Īs part of the deal under which Gordon Brown made the Bank of England independent in 1997, the Governor is obliged to write to the Chancellor whenever the government’s preferred inflation measure strays more than one per cent either side of its target. But Bailey does seem to have taken monetary incompetence to new levels, failing to jack up rates high enough even as inflation was manifesting itself. The Bank of England’s mishandling of monetary policy did not begin with him – his predecessor, Mark Carney, who got out and fled back to Canada just in time, carried on printing money and keeping interest rates down at historic lows way beyond the end of the 2008/09 financial crisis. ![]() It is becoming increasingly hard to work out why Andrew Bailey is still in a job. Whole areas of the public sector now seem to exist not primarily for the purpose for which they were set up, but to achieve net zero carbon emissions (as well as diversity targets for their staff). We may be failing at the job we are contracted to do, buy hey, just look how seriously we are taking climate change. Truth is that climate change and net zero have become convenient fig leaves for incompetent public servants. Anyone confident, then, that he knows what he is talking about when trying to forecast climate change? I would say that if Governor Bailey is forecasting a 2 per cent rise in temperature, get your snow boots ready, just in case. But 8.7 percent, the current level of CPI? Er, that wasn’t even on the chart.Īnd inflation is what Bailey is supposed to know something about. There was a outside chance, the report conceded, that CPI could rise to just under 5 per cent – as indeed there was that it could fall to minus one per cent. The Consumer Prices Index (CPI) was currently below the Bank’s 2 per cent target, it stated apologetically, but no matter: a fan chart showed it rising to 2 percent by the end of 2021, where it would happily be lodged for the next two years. More so, er, than inflation? As a guide to Bailey’s clairvoyant skills, you should take a look at the Bank of England’s Monetary Policy Report published in May 2021. He recently explained why the Bank had to take action: “unlike pandemics and wars, which are terrible, and events that we are having to deal with, climate change, I am afraid, is highly predictable.” He’s taking climate change seriously, is governor Bailey. Unfortunately, though, it isn’t inflation – he wants to get the Bank of England to net zero carbon emissions by 2040, in part by installing a ground source heat pump in Threadneedle Street, as well as an air source heat pump in its Essex printing works. At last, Andrew Bailey has a plan to get to zero. ![]()
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