The monetary spigots are fully open in the UK now. They're printing new money at the rate of nearly £6billion a week. £150billion of new money has already been approved over the next 6 months and if that doesn't work they'll just keep going. This is massive in the context of the size of the UK economy, I reckon it's about 12% of annual GDP in months!

Way I see it going it that UK financial institutions are going to be awash with cheap money and are going to want to lend to earn the spread. I'm still being offered new credit and so is anyone else who remains solvent. Also, foreign recipients of the new money will want rid of it ASAP and will help accelerate Sterling's decline injecting a hefty dose of imported inflation into the UK economy.

Forget what the politicians say, they need a collapse in Sterling and an old fashioned wage price spiral, like in the 1970s, to restore affordability and put a bottom under the real estate market. I'm sure they can create inflation at some point this year or next. I'm less sure that they can keep the inflation under control. If this runs away with them.... well, we might witness the complete and utter humiliation of a once great nation over the next few years (and I'll have to live through it....).