BloombergAlana Carter/4-9-2022
“In a frank interview with The Sunday Telegraph, Mr Lewis stressed the desperation of people and worried over the consequences as households struggle to pay for the most basic necessities. ‘We need to keep people fed. We need to keep them warm. If we get this wrong right now, then we get to the point where we start to risk civil unrest. When breadwinners cannot provide, anger brews and civil unrest brews – and I do not think we are very far off,”‘he said.”
USAGOLD note: Though we see Lewis’ warning as a bit hyperbolic, particularly when you consider Britain’s normally composed national demeanor, we do sense that the public reaction to inflation could be unpredictable and problematic for the political sector. All eyes will be on the upcoming French election on this score, as it will be the first political contest in a developed economy determined under the cloud of inflation.
