Britain doomed if Bank cuts rates again

On November 7 after the Bank of England cut interest rates by 1.5 per cent the heading of this blog's posting that day correctly predicted STERLING DOOMED read it from this link. It went on to include this comment: An incompetent if not insane MPC of the Bank of England has today thrown sterling to the dogs! Earlier that day and ahead of the announcement I had spelled out the consequences in more detail, link here. NEEDLESS TO SAY THE SUBSEQUENT COLLAPSE OF STERLING HAS PROVED MY DIRE PREDICTIONS ENTIRELY CORRECT. Amazingly the MPC of the Bank of England, egged on by a completely deranged Government and ruling establishment now clearly in full panic mode worsened by their own arrogance and complete lack of proper life experience , are now preparing further cuts as reported in The Times this morning, linked here. This painful certainty of chaos following further cuts, almost bound to lead to the nation's economic destruction lasting many years, was blithely ignored by the leader of the Opposition, David Cameron, in a live interview on the BBC Radio 4 Today programme this morning, so of hope or alternatives there now remain NONE. WHAT benefits came from the November slashing of rates other than to destroy prudent savers? NONE WHATEVER! Why cut again when the benefits are illusory? The inflationary consequence of Sterling's collapse have yet to be felt but as an example let me point out this fact - if sterling next falls to near parity with the dollar (it last nearly reached such parity following Sunny Jim Callaghan's disastrous socialist premiership) and the oil price rallies to about 75 dollars a barrel, then oil costs in Sterling will be higher than at the last peak of $147 experienced last summer!! More Sterling interest rate cuts this week from the MPC will result in total British economic collapse.