03 May “Just accept it”
Hey, tacky Bloomberg tweet, hold muh beer and watch this:
Just accept it, peons. Just do what you’re told. Sit down, shut up, and quit disobeying. Gah.
“Huw Pill, the Bank of England’s chief economist, has declared that citizens and businesses ‘need to accept’ they are poorer, and stop pushing prices higher and seeking pay increases.
Pill says a game of ‘pass the parcel’ is taking place in the economy – as households and companies try to pass on their higher costs.” -The Guardian, Ibid.
Huw Pill. What’s in a name. I wonder if he’s working poor and has decided to simply accept that he’s worse off?
“A £190,000-a-year Bank of England official has sparked fury by saying Brits must ‘accept they’re worse off’ and stop demanding pay rises. Huw Pill, the BoE’s chief economist, said there was a ‘reluctance to accept’ the UK is poorer. He said gas price rises triggered by the war in Ukraine had led to the problems and ignoring the fact risked a long-lasting inflation.
Former Goldman Sachs banker Mr Pill, who has a £1.5million home in London, received a £95,000 pay package for just his first six months when joining the BoE in 2021.” –https://www.the-sun.com/news/7963834/bank-england-official-brits-accept-worse/
No, I reckon he doesn’t sound working poor based on his income and his posh home. Also: former Goldman Sachs banker. I shouldn’t wonder. 😒 In Other People’s Money: The Corporate Mugging of America, Nomi Prins’ details her time at GS and the shenanigans she witnessed firsthand.
“‘So somehow in the UK, someone needs to accept that they’re worse off and stop trying to maintain their real spending power by bidding up prices, whether higher wages or passing the energy costs through onto customers. And what we’re facing now is that reluctance to accept that, yes, we’re all worse off, and we all have to take our share. [Instead, people] try and pass that cost on to one of our compatriots, and saying ‘we’ll be alright, but they will have to take our share too’. That pass the parcel game that’s going on here….that game is generating inflation, and that part of inflation can persist.'” -The Guardian, Ibid.
Same ole, same ole. These central banks and their cronies wreck the economy and then point the finger of blame at John & Jane Q. Public. How dare you try to survive inflation by asking for a raise at work! Naughty peon!
“Pill’s comments risk attracting fresh criticism that Threadneedle Street is out of touch over the cost of living crisis, at a time when public sector workers have been striking as they sought pay rises to match, or beat, inflation. They come on a day in which Nestlé, PepsiCo and McDonald’s have all reported that higher prices boosted their sales this year, and as UK families face 17.3% grocery inflation in supermarkets.” –https://www.theguardian.com/business/2023/apr/25/britons-need-to-accept-theyre-poorer-says-bank-of-england-economist emphasis mine
As people struggled to meet basic needs, these corporations enjoyed boosted sales. *cough* Crony Capitalism *cough, cough*