In response to the following BBC article, quote:

UK expected to be only major economy to shrink in 2023 - The UK economy will shrink and perform worse than other advanced economies, including Russia, as the cost of living continues to hit households, the International Monetary Fund has said.

https://web.archive.org/web/20230131123012/https://www.bbc.com/news/business-64452995

Source of the take: https://knockout.chat/thread/45630/1#post-1657405

  • JuneFall [none/use name]
    ·
    1 year ago

    14% is quite high though, even if money supply increase, as I doubt that most of the precarious people will get less than inflation in wage or income increases. I think that isn't possible to keep up for years. So lets see how it evolves.