Posted on 05/17/2022 12:30:42 PM PDT by EBH
The Bank of England boss issued a warning about "apocalyptic" food price rises around the world.
Andrew Bailey cited the COVID pandemic and war in Ukraine as factors it could not have predicted.
He also suggested that workers should not ask for a pay raise.
The governor of the Bank of England issued a stark warning of "apocalyptic" rises in the price of food, while suggesting workers should not ask for a pay rise.
Andrew Bailey told MPs of the Treasury Select Committee that a "very big income shock" from the increase in the global prices of goods would hit demand in the economy and push up employment.
Difficulties in shipping out supplies from Ukraine due to Russia's invasion could hit world supplies of wheat and cooking oil, he added. Ukraine is a major producer of both, and global wheat prices have already risen by 25% in the last six weeks.
On top of the war, China's ongoing COVID-19 wave was another factor putting pressure on prices, Bailey said.
"There's a lot of uncertainty around this situation," Bailey said.
"And that is a major, major worry and it's not just, I have to tell you, a major worry for this country. There's a major worry for the developing world as well ... Sorry for being apocalyptic for a moment, but that is a major concern."
Bailey also reiterated his calls for employees not to seek pay rises despite the rising costs, in an apparent reference to the idea that wage increases could lead to more inflation.
(Excerpt) Read more at msn.com ...
Funny they don’t mention that it is a result of Central Banks Printing/Creating lots of Money out of thin air
“A big part of the problem is that we are now governed by stupid children who are more concerned about LGBTQ pronouns than the survival of the country.”
I’ll just nod and leave this here. On to climate change.
So, food prices are going to rise “apocalyptically”, but you workers are NOT supposed to try and get more money so you can eat.
Does anyone else here see a problem with this?
Plenty of fat cows in DC to feast on
Mr. Baily: "I'm sorry, your income is not enough to qualify for a loan."
I’m seeing more and more posts that allude to this kind of thing, across lots of different platforms. Not sure the people at the top realize the anger that’s bubbling up worldwide.
what he means is workers should not "reflect" but just go ahead and "GENUFLECK" like good little peasants begging for food.
I’ve heard a couple of farmer/ag types say the 4th quarter is when it will really hit.
Happy Holidays.
When no one can grow anything either.
I am so screwed.
“These elitist clowns should start worrying about the pitchforks in their futures.”
If only
Honestly, don't see this. No more than the normal bell curve of people being people in a grocery store.
I guess they think that they can eat pronouns.
Get yourself a 30-footer and go! - freerepublic.com
(But don’t go until there is no more food to be had in Nawth Jawja.)
https://freerepublic.com/focus/f-bloggers/3095240/posts
Cue the music video of Motorheads “Eat the Rich”
Apocolyptic speech in effort to prevent increasing wage costs.
Or even get a first job.
Part of the problem is how many people are living off government benefits. There are too few people producing goods and services, too many consuming, and government printing money to pay for it all.
So, you can’t buy food cuz inflation has made it too expensive but you shouldn’t ask for a raise. Got it.
This is how heads end up on pikes, folks. Heads on pikes.
Some very ugly times are coming.
Soon.
L
All true.
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