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 ...
“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.”
So people should do what as an alternative? Ask for grocers and restaurants to lower their prices? Or simply not eat?
Get a second or third job.
Seriously, that is what many are saying to do.
That’s right. Better we should all starve
I work in the agri-food industry. higher prices and shortages await.
It starts with energy costs and fertilizer, but then you can include labor shortages, worker shortages, machinery parts delays, ports congestion, cold-chain warehouse/chassis/driver shortages
Add on any unexpected weather event where product is grown - and it will become a disaster.
If true, there will be a nice reduction in obesity in United States. That is huge for health benefits.
Maybe the hungry should go grocery shopping in Andrew Bailey’s Pantry? He doesn’t seem concerned at the price of food. Bet he got the raise he asked for. STUPID British SNOB!
“You’ll eat nothing. And like it.”
What is Bailey’s salary? 575,000 pounds per anum.
Arrogant A-hole. These elitist clowns should start worrying about the pitchforks in their futures.
inflation
> So people should do what as an alternative? Ask for grocers and restaurants to lower their prices? Or simply not eat? <
Mr. Bailey makes a lot of money. As governor of the Bank of England, he’s paid £575,000 (roughly $720,000) per year. So maybe people crushed by inflation could ask Mr. Bailey for a loan.
If the press wasn't so corrupt, biased and always sucking on elite tit they would stick a reporter on Andrew Bailey and see how he and his family eat over the next two years.
Somebody pls post this on FR as it’s own thread.
Canaries twitching: Yemen, Sri Lanka, Lebanon…many more.
> by Michael Yon / Panama / May 17
The cascade has begun. For those who have read at least several books on famine, little if any of this is surprise. Those who have read, say, 5-10 books on famine can go ahead and take the written test and likely be pretty predictive of what is too unfold.
Witness how accurate I have been since January 2020 on food issues. Incredibly accurate. Reading history is like cheating.
Soon, people will begin to die in small areas by the hundreds, then thousands.
More countries will begin to shut food exports, as should the United States. To be clear, this exacerbates global famine. But bottom line at this point is massive numbers of people will starve to death. We have reached the PoNR — Point of No Return. In famine, flash to bang comes with long delays. Flashes are popping all over. There is no turning back. Countries like India are halting food exports. All this is additive.
During Mao’s Great Famine, the Irish Famine, Holodomor, and others, some despots continued to export food even while their own people were eaten by family members. US is lining up now in this category. We have entered agricultural catastrophe with a long flash to bang. Extent of agricultural meltdown may not be understood for years. We can see it’s massive even while we export food as if we are going to save Africa.
In my paradigm, OGUS (Occupational Government United States) is actively attacking Americans. Witness baby formula. FDA is an OGUS arm shutting down food production for ‘safety reasons’ even while truck loads of baby formula go to invading ‘migrants.’ Culling birds. Fish.
Diesel is an arterial flow. Some truckers are parking their rigs.
If my paradigm is accurate, OGUS is setting battlefield conditions for serious agricultural attack come harvest time. A comprehensive attack including reduced diesel, water, electricity. The kill shot for farmers is best had at harvest time. Wait until all the inputs are invested. Time to harvest and move to market. Then strike. A successful, massive attack can be had without firing a shot. Just prep the battlefield all year by draining our pantries and fuel reserves, then interfere with harvest.
Many farmers are now speculating and storing large quantities of food to sell at a higher price, later. In normal times, this would be a wise business move. But we are in midst of a communist takeover.
If my paradigm is accurate, honest speculators will be labeled as profiteers, traitors, hoarders, intentionally causing famine to drive up prices. If history repeats itself, OGUS will begin stealing their inventories. State of emergency and all. (Prefect timing for ‘elections’).
[rest at link]
https://michaelyon.locals.com/upost/2149494/canaries-twitching-yemen-sri-lanka-lebanon-many-more
Yes, it is already arrived. There is a very thin veneer though still here in the United States.
I see it every day, people shopping grocery stores...but there is a quietness about them, a scurry through faked and faced out aisles. There is not desperation yet, just maybe more like horror. A knowing it is coming and yet the denial SHTF has already arrived.
Listening to someone who has been through this type of season. He reminds me it will come in waves. And many will think the bad times are over, only to be stressed again. Like a pedophile grooming the victim, it comes in waves, until it seems grossly normal.
No one knows how bad things will get, but the bottom is still not in sight. America has the farthest to fall.
(so please don't ask for a pay raise)
ARE YOU FREAKING KIDDING ME??
“He also suggested that workers should not ask for a pay raise.”
The elites often start blaming the masses for being “selfish” after inflation is unleashed.
That is one reason inflation becomes very destabilizing for any society—it can quickly deteriorate into a blame game and class warfare.
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.
It is infuriating. And I don’t think even a GOP wave in the November elections will make much of a difference. We desperately need a new team in the White House. And that won’t come until January of 2025 at the earliest.
What a moron. Any rational person's first thought would be, well I better start making more money if I'm going to feed my family.
It’s suspicious that we’ve never been warned about high food and gas prices concerning various wars in the last 20+ years.
Same idea concerning “celebrity” CV19 masks and experimental mRNA jabs versus boring flu.
Corrections, insights welcome.
Patriots are reminded that they must vote twice this election year. Your first vote is to primary career RINO incumbents. Your second vote is to replace outgoing Democrats and RINOs with Trump-endorsed candidates.
Again, insights welcome.
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