Bank governor in 'apocalyptic' warning over rising food prices

Hilly

Member
And f##k up the climate even more with shipping and flying everything in from countries who couldn't give a monkey about the environment. Well done PM Carrie and Lord Goldsmith.
Clueless kn#bs.
Someone told me today (pure gossip) they are going to import frozen beef from india 🇮🇳. Ive no proof just someone in passing told me with a gloating smile casting an eye over my herd …..
 

AT Aloss

Member
NFFN Member
"The possibility of more rises in food prices is a "major, major worry" for the UK and other countries, the Bank of England governor has warned."


Someone waking up at last?

https://www.bbc.co.uk/news/business-61469532
Andrew Bailey is one of the biggest crooks in The City. He is prone to corruption. He strategically positioned himself at the FCA & now the BoE to make every attempt to brush his wrongdoings under the carpet. His head needs to be put on a spike at Traitor's Gate.
 

AT Aloss

Member
NFFN Member
Just put up interest rates that'll stop them spending on stuff they can't afford anyway!
The problem with Stagflation (inflation in an environment of stagnant growth) is that monetary policy cannot solve both inflation and recession at the same time. Some might say that statistics are showing we are in a tight labour market, so it can't be stagflation! One solution would be returning to a manufacturing economy (supply side economics in a deregulated environment with lower bureaucracy - but I can't see the snouts in the trough going for that regardless of them calling themselves free-marketeers"). When the unproductive labour in the service economy is added to the volume of people that don't want to work, we end up with the equivalent economic problem of high unemployment, this stagflation, and nothing Andrew Bailey is doing is going to cure it.

Make hay while the sun shines...
 
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The problem with Stagflation (inflation in an environment of stagnant growth) is that monetary policy cannot solve both inflation and recession at the same time. Some might say that statistics are showing we are in a tight labour market, so it can't be stagflation! One solution would be returning to a manufacturing economy, as there's really so much unproductive labour in the service economy. Add those to the volume of people that don't want to work & we end up with the equivalent economic problem of high unemployment.

Manufacture what though exactly? Even manufacturing is reducing labour all the time, through automation.
 

AT Aloss

Member
NFFN Member
Manufacture what though exactly? Even manufacturing is reducing labour all the time, through automation.
We have been buying steel from Ukraine and the sheet plant at Scunthorpe got shut down, for example. Looking at the fragility of global supply chains & the British companies that were asset stripped & the production offshored which is now in the hands of unreliable regimes there's now opportunity to increase some sectors of British primary production. As you so rightly say more automation is now involved, which has the opportunity to make the labour employed more productive, which wasn't the case when we lost those primary & secondary producers. Problem is that increased supply side economics can't really function in a service economy based on monetary policy - the system's broken
 

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