Bank of England Says “Accept That You Are Poorer”

'Someone needs to accept they're worse off' Mr Pill said people demanding pay increases and businesses putting prices up added to inflation and caused prices to rise even further across the economy. "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 through higher wages or passing energy costs on to customers etc," he told the Beyond Unprecedented podcast from Columbia Law School. "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; to try and pass that cost onto one of our compatriots and saying: 'We'll be alright, but they will have to take our share too'.

TOPICS AND TIMESTAMPS:
Real Estate Madness 0:00
You Are Poorer 3:40

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