Cost of living- what’s going to happen?

[returning_1]

NRT, hey i remember a few of you. i am not expecting to be banned, but might be. RIP anyone who needs that. my brain is too far gone: but if the crisis isn't going away anytime soon, then what radical pseudo order could seem to replace it? does anyone have much of a sense of what changes might be implemented?

 

[Elpenor]

Britons ‘need to accept’ they’re poorer, says Bank of England economist

Chief economist Huw Pill says workers and firms should stop trying to pass on rising costs by hiking prices or demanding better wages

www.theguardian.com

Just accept being poor, and don’t ask for a pay rise for the greater good says man who earns approx £180k / year

Pill was paid £88,000 for his first five months and 24 days, according the the central bank’s annual report, taking his annual salary to £180,000. According to the latest official data, median average household disposable income last year was £32,300.

The article goes onto to talk about the profit-price spiral caused by corporations profiteering.

 

[B.I.G]

Britons ‘need to accept’ they’re poorer, says Bank of England economist

Chief economist Huw Pill says workers and firms should stop trying to pass on rising costs by hiking prices or demanding better wages

www.theguardian.com

Just accept being poor, and don’t ask for a pay rise for the greater good says man who earns approx £180k / year


The article goes onto to talk about the profit-price spiral caused by corporations profiteering.

Person that examines inflation rate says businesses and households are contributing to higher inflation by seeking to minimise its effect on them, through passing on cost increases and obtaining higher pay, which is contributing to higher overall inflation and a greater effect on those unable to mitigate the effects.

 

[kabbes]

“Why won’t the scum just ENJOY the taste of my boots? What’s wrong with them?”

 

[smmudge]

Isn't that just a roundabout way of him admitting currently inflation is due to profiteering. But he's not telling companies they should stop profiteering. Funny that.

 

[teqniq]

I hope he's right but I remain unconvinced:

The Bank of England is in for a rude awakening because people have had enough of being told they must accept being worse off

Bank of England chief economist Huw Pill said yesterday that we all need to get used to the idea of being poorer. At one level, Pill is right. It is absolutely true that as a country, and as a world, we need to get used to consuming less of our planet....

www.taxresearch.org.uk