Compiled and Editing by Sahar Yaghoubi
With grim resignation, the Bank of England’s Andrew Bailey conceded that relentless interest rate hikes have failed to subdue the dragon of inflation stalking the U.K. Wages and prices now feed each other in a self-perpetuating maw of economic agony, depriving citizens at both ends with masterful efficiency.
Bailey’s dismal diagnosis confirms entrenchment of the dreaded wage-price death spiral, dooming the nation to endure skyrocketing costs without respite. Workers scramble merely to tread water as each raise galvanizes fresh price hikes, an endless purgatory assuming Dantesque proportions.
Analysts correctly warned the U.K. faced unique vulnerabilities to such a calamity due to post-Brexit pariah status, import dependency, and anemic pound. With helplessness its sole remedy, policymakers brace for intensifying assaults on livelihoods in the questionnaires of penury.
Even chief economist Huw Pill sparked fury with his tactless insistence that subjects accept diminishment without appeal. As the economic guillotine falls upon necks both hairy and shorn, salvation remains a mocking phantom beyond desperate grasp.
Britons now twist slowly in inflation’s excruciating cords, a cautionary allegory for those who spit upon global cooperation’s outstretched hand. A diminished isle calcifies in a self-inflicted purgatory, curled in ignominious agony beneath merciless whip and sneer of unseen masters.
The United Kingdom Suffers the Inflationary Stranglehold: A Cautionary Tale of Solitary Torment
