The thing is on-one cared back in 2008/9. We inflate our money supply and something has to get more expensive. The trillions have to go somewhere. So house prices and the stock market went up. No-on complained and everyone was happy because their home equity was going up and their ISAs and pension pots were going up.
They didn’t see it as inflations of the money supply (depreciation of the pound) because all the other countries were printing money too. They saw it as increasing value of their assets (as opposed to their assets staying the same and being measured in pounds that we’re losing purchasing power.)
It doesn’t really matter if people understand inflation of not. They have spent 15 years ignoring the inflation. What they can’t ignore is the consequences of that inflation. Now they have to pay the piper.
Higher interest rates, falling house prices, a falling stock market, higher food and energy prices, destruction of the service industries, restructuring of small businesses, mass layoffs in larger companies, and a big squeeze on the middle classes.
There will be more and more handouts for the lower rungs on society, because that’s where a good chunk of the middle classes are headed if they choose not to protect themselves. Greater division in society.
We can always blame Putin though.
Anyways, that’s a different issue. Most people on this thread don’t understand the link between the economy and their pay packets, and they aren’t interested.