Eat Or Heat? Europeans Already Facing Previously Unthinkable Dilemmas

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Title : Eat Or Heat? Europeans Already Facing Previously Unthinkable Dilemmas
Link : Eat Or Heat? Europeans Already Facing Previously Unthinkable Dilemmas

As the citizens of the European Union and the United Kingdom are increasingly struggling to make ends meet due to record levels of inflation, and as the winter draws closer, a serious cost-of-living crisis is set to spiral out of control. Skyrocketing energy costs, combined with galloping prices for food and other essential goods and services are bound to erase whatever was left of the "middle class."

Households that were once comfortable, and even had some savings aside, have been placed under severe financial duress already during the summer, and, unfortunately, the worst is yet to come. In what has been dubbed the "eat or heat" crisis, we can expect to see the situation deteriorate even further in the coming months, a development that could have critical and far-reaching implications beyond economics.

For those with unfailing memories and an attention span befitting an adult, it will not be hard to recall the assurances of politicians and central bank officials at the end of last year, that inflation was "transitory" and that anyone who said otherwise was a politically motivated alarmist. As is abundantly evident today, and has been for months, all these statements were entirely wrong; a "mistake" made either through sheer ignorance and professional incompetence, or through malicious intent and professional mendacity.

Either way, the result was the same. The public was misled, and they believed all the self-congratulatory messages about how the actions of central planners of all kinds "defeated covid," "avoided a recession" and were getting us all "back on track to economic growth and prosperity." READ MORE