3 ms·

John Authers, a Bloomberg columnist, discusses this a bit in https://www.bloomberg.com/opinion/articles/2023-04-26/uk-inflation-boe-s-chief-economist-fails-find

John Authers, a Bloomberg columnist, discusses this a bit in https://www.bloomberg.com/opinion/articles/2023-04-26/uk-inflation-boe-s-chief-economist-fails-find-the-right-words https://www.bloomberg.com/opinion/articles/2023-04-26/uk-inf... and thinks his friend got a bit of a raw deal here in the public reaction. If you like Matt Levine's columns, you might find Authers's newsletter worth a look.

legitster 3y ago
I now really surprised how people are biting into the bait without looking at the context. This does not at all indicate the "blame the poor" meaning that people are putting on it.
jarym 3y ago
Thank you, that does set some nice context.
fmajid 3y ago
https://archive.ph/r8E4M https://archive.ph/r8E4M Considering Pill's boss Andrew Bailey was excoriated for making the exact same point last year, Pill can't claim he had no idea he would be misinterpreted. Or perhaps he is just as stupid as his boss (an incompetent buffoon who failed at the FCA but failed upwards because he was the only Brexiteer the Tories could find for the job). This wouldn't be out of character for the upper reaches of the British establishment. Authers' loyalty to his classmate is admirable, unlike the Cambridge alums who turned a blind eye to the Cambridge Five, but the incestuousness is a good part of why the UK is so badly misgoverned. As for how ordinary people can take action beyond striking for higher wages, one example is how they are switching to hard discounters Aldi and Lidl for their groceries (food inflation is at 17%). Luxury retailers like Waitrose or midrange ones like Tesco and Sainsbury thought, incorrectly, they were above the fray and tried to preserve their margins. The customers they have lost to Aldi and Lidl will not be coming back, even after inflation subsides.

3 ms·

John Authers, a Bloomberg columnist, discusses this a bit in https://www.bloomberg.com/opinion/articles/2023-04-26/uk-inflation-boe-s-chief-economist-fails-find

by erehweb 3y ago

legitster 3y ago
I now really surprised how people are biting into the bait without looking at the context. This does not at all indicate the "blame the poor" meaning that people are putting on it.
jarym 3y ago
Thank you, that does set some nice context.
fmajid 3y ago
https://archive.ph/r8E4M https://archive.ph/r8E4M Considering Pill's boss Andrew Bailey was excoriated for making the exact same point last year, Pill can't claim he had no idea he would be misinterpreted. Or perhaps he is just as stupid as his boss (an incompetent buffoon who failed at the FCA but failed upwards because he was the only Brexiteer the Tories could find for the job). This wouldn't be out of character for the upper reaches of the British establishment. Authers' loyalty to his classmate is admirable, unlike the Cambridge alums who turned a blind eye to the Cambridge Five, but the incestuousness is a good part of why the UK is so badly misgoverned. As for how ordinary people can take action beyond striking for higher wages, one example is how they are switching to hard discounters Aldi and Lidl for their groceries (food inflation is at 17%). Luxury retailers like Waitrose or midrange ones like Tesco and Sainsbury thought, incorrectly, they were above the fray and tried to preserve their margins. The customers they have lost to Aldi and Lidl will not be coming back, even after inflation subsides.