I'm always drawn to how the front pages divide, as you know.

I fully appreciate that not everybody follows these things very closely,

but the more popular or populist the paper,

the more likely it is this morning to be featuring coverage of the missing submarine

that was on that little mission to visit the Titanic.

And sadly, we have to put the times on the list of populist

or popular papers these days. While the arguably more serious prints are looking at the,

what we have to call the mortgage time bomb, which pretty much narrows it down to the Guardian

and the eye newspaper these days. It is the

mortgage time bomb to which we will turn our attention today. And I do so with quite a heavy

heart, to be honest with you, I kind of, I know things are going to get really, really bad and

that they are already getting really, really bad. And bizarrely, it's an issue that breaks

one of our golden rules. You know, the plural of anecdote is not data. But it is sometimes, it's sort of,

it is a collection of anecdotes that have allowed us to see just how bad things are getting and how bad

they're going to get. And the base rate, the base rate,

is expected to increase by another 0.5% or percentage points tomorrow. This is in the latest attempt

to tame UK inflation. And we find ourselves in a weird situation, don't we? Because you have to have

some trust in central bankers and yet central bankers are fallible. And for me, as a relatively amateurish observer of these matters, I'm increasingly persuaded that the Bank of England have got it wrong on this. I think having to appoint a governor of the Bank of England who wasn't going to tell the truth about Brexit

may be a crucial part of his absence of qualifications, but it does seem to me that this desperate

attempt to reduce the amount of money that we have to spend by increasing interest rates in the

hope that we will spend less and somehow prices will come down, it's just not working. It really

isn't. I'm also conscious of the fact that very few of us have even the beginning of an

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