Cost of living: Bank of England governor warns of 'apocalyptic' food prices due to war in Ukraine
Andrew Bailey hit back at criticism that the Bank acted too slowly to tackle inflation, blaming a "bad situation" on the impact of the war in Ukraine and COVID-19.
Andrew Bailey may need to look up the correct term in the official hyperbole manual. He may be right with "apocalyptic", but my recollection is that floods and famines are Biblical.
9 comments:
If things are going to get really rough, we probably need to make it harder to drive, get rid of central heating, stop people going to work, and invite thousands of unskilled immigrants in. That should keep us all safe.
Also in the news some bloke from M&S reckoned food prices would increase by 10% this year. I guess that 'food being a bit more pricey' is not as newsworthy as 'aieee! we're all going to die'.
Bit like Brexit really. I wonder who is pushing the Apocalypse narrative... and why?
Just like the attempts to blame the recession on a refined pandemic, in neither case are the economic impacts to do with the mild respiratory illness or a regional scuffle.
They are entitely due to Govt sabotage of the economy.
It was the lockdown & govt control of the economy that did the damage.
Similarly its the trade & essential commodities embargos & attempts to use the international trading arangements as economic weapons that have done the damage.
Just like the attempts to blame the recession on a redefined pandemic, in neither case are the economic impacts to do with the mild respiratory illness or a regional scuffle.
They are entirely due to Govt sabotage of the economy.
It was the lockdown & govt control of the economy that did the damage.
Similarly its the trade & essential commodities embargos & attempts to use the international trading arangements as economic weapons that have done the damage.
I thought 'tsunami' was the current word of choice. have things moved on?
It amuses me to see how many people think the State can do something to help them.
It's true that some of the bad things happening are the results of daft State decisions or policies (mostly connected with energy) but those decisions are years - in some cases decades - in the past.
All we can do now is suck it up and hope the idiots get it right next time.
Or, alternatively, we could accept that The State Is Not Your Friend, and try to do something to minimise its lethal meddling. Don't ask me what, though.
In my delegated role of looking at the supermarket websites before Herself sallies forth to buy, even my male eye has picked out some non-negligible price rises and also some sustained unavailabilities. Not famine, to be sure, but perhaps dearth approaches. Good word, "dearth".
@ Annonymous @ 11:34
Or, alternatively, we could accept that The State Is Not Your Friend, and try to do something to minimise its lethal meddling
Although I am not a believer I rather like this version of Psalm 146:3 of the Geneva Bible of 1587:
Put not your trust in princes, nor in the sonne of man, for there is none helpe in him.
The archaic style just makes it seem more wisdomy.
Sam - and turn millions into hypochondriacs so the NHS isn't overloaded.
DJ - it seems to be the standard media approach, as if they have never heard of the boy who cried 'wolf'.
Nessimmersion - yes it's government bungling every time. Unless it isn't bungling but intentional which seems entirely plausible.
Bucko - I expect 'tsunami' is one of the options in the manual. Expect a tsunami of covid infections shortly.
Anon - I agree, The State Is Not Your Friend and I don't know what can be done either. Voting doesn't achieve much.
dearieme - our local Tesco has a dearth of this and that, but other supermarkets seem to stock what Tesco doesn't have but still have a dearth of other items.
DJ - that's a quote worth remembering.
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