For the first time in nearly 50 years, the UK inflation rate has settled at around 18% and is expected to rise further. This beat the Bank of England’s predictions that inflation would only go to a 13% maximum, which now the new projection they’re giving is that inflation will settle around a 20% maximum. This follows many economies in the world, especially Western ones, still struggling post-COVID to put the pieces back together.
While an economic collapse is probably not going to happen, inflation will still have a negative effect on various world governments regardless, with Sri Lanka’s government seeing a collapse last July. So, while the negative effects on the West, while not as brutal as Sri Lanka’s situation due to Western leaders’ being far more competent than those of some poor third world countries in the Indian Ocean, will still result in growing discontent and anger towards the system.
US President Joe Biden, for example, has seen his approval rating drop to 33%, with even a majority (64%) of Democrat voters wanting a new person to replace Joe Biden. This comes as commodities such as food, fuel, housing, etc. have been overpriced to hell and back and public resentment is growing. At best, this will result in a Republican victory in the midterms and the general election in 2024; however, on the plus side for ourselves, the more resentment there is among the general population towards those in power, the better.
However, only time will tell what happens because events can change in an instant.