I should not have mentioned this morning that I have a very busy writing schedule because, just now, the producer for Nicky Campbell's programme on Radio 5 Live called, asking if I would go on the programme at 9 o'clock this morning to discuss Rachel Reeves' proposed price controls, and the planning that we should be doing for a potential inflation hike as a consequence of the war in Iran.
I have, of course, agreed to go on the programme between about 9:05 and 9:20. I will not keep to the script that they suggested and have already proposed to them that I want to talk about the much larger crisis coming our way, as outlined in this morning's video, and the fact that unless the government treats people fairly in the crisis we are heading for there will be major social disruption as a consequence.
We might be facing a situation worse than Covid, and the government seems entirely unaware of it. I will be talking about it.
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‘Very best of luck!
It went well
The other commentators did not like it
Excellent – a sure sign that you hit the spot.
The strawmanning from the boss of Philco is insane. “does Richard expect me and my workers to work for free?”
I hope my comments as he spoke came through making clear he was setting up a straw man
The Supermarket chap wasn’t expecting what Richard said. I suspect that is because the media usually operate within ‘safe’ boundaries and predictable questions and that any view outside of that they have little idea of how to deal with it.
Probably true – and I am a prof of accounting after all
Richard, I thought you came across well. It’s never easy when telling people what they need to know as opposed to what they want to hear. It’s a pity Nicky Campbell did not put to the others the contents of one of your other posts this morning regarding politicians putting their heads in the sand as you highlight how the problems that you predict are already the reality overseas e.g. Modi’s response in India. I thought the single mum effectively reinforced your comment about social unrest and the inability of UK political class to understand real people and the pressures they face. The farmer seemed at the end of his tether, not knowing who to blame or what to do but he had avoided some of the problems faced by many farmers by not having any supply contracts with the big supermarkets so I am not sure how representative he really was. The caller from the energy sector at the end seemed to echo some of what you had to say on energy prices and he thought (as do I) that the MD of Filco (which runs only about half a dozen stores) was talking rubbish. I could not work out why the MD (was it a Matthew Hunt) kept banging on about the tax system – it made me wonder whether he was a Tory or Reform supporter. All in all, you came across well. Nicky Campbell appeared to me to be a little overwhelmed by the potential scale of the problems we are soon to face whilst not actually disbelieving you. It does, however, highlight the scale of the problems we face with the main stream media who seem intent in blocking out any real debate on this impending catastrophe. KUGW!
Thank you.
Those things take a lot of energy. Recording is delayed until 1pm.
It was worth doing, and I know Nicky likes having me on. I suspect he sympathises.
Long may you continue to be on radio – not an easy gig but voices like yours are few on the airwaves. V good you got in your last word. Martin E, good summary, I did not know size of that supermarket group, interesting none of the big ones wanted to go on. I wish the energy guy had got a bit more airtime.
Thanks
Doing something like this is not easy
Good to hear. (I was out so didn’t listen.)
You succeeded in lifting the discussion beyond the prescribed tramlines of whether or how to control prices – and the endlessly tedious details of what would be the price of a tin of beans if tariffs were lifted – such as was was on R4 Today programme . <p>
I think Campbell appreciated it – although seemed to think you might be exaggerating somewhat. Chomsky would have approved.<p>
The single parent woman – previous Tory voter, now disillusioned with all politics ‘they are all in it for themselves’ seems to typify more and more people. This is not being addressed in public debate . Where is the debate about cleaning up – making donations illegal etc etc?
I found the conversation on Radio 5 Live this morning to be a fair summary of the main voices crying in the wilderness of our current political desert. Each participant has a partial view of reality – or, perhaps, of the emotional reality which drives most of us more strongly than objective reality. Richard’s passion and the mother’s anger were up against a stolid conviction that intervention in the magic power of markets is neither needed nor, indeed, anything less than sacrilege! The mother cursed politicians for being useless while the supermarket owner insisted they should never intervene in private affairs. The farmer had found a way to avoid exploitation by supermarkets in selling direct to customers, but blames bankers and politicians for extracting rents and taxes. But he did understand how the Ukraine War affected the price of eggs. I think the average consumer would not. I must confess, the energy trader from Darlington left me in the dark. I live in Darlo and did not realise such trading was going on. Can he get me cheaper gas? Meanwhile, every day, I am grateful for the opportunity to read Richard’s enthusiastic explanations of the complex working relationships between farmers and market makers, consumers and politicians, investors and extractors of rents. Trying to decode a conversation like this one was indeed enlightening. And challenging. What did I miss?
You seemed to do OK
I listened on BBC Sounds later in the morning. it was excellent.
You talked about deaths and were labelled extreme, plus a few other things. I often point out here that neoliberalism is literally killing my neighbours. They die because of austerity economics. Die as in dead, die young, die before retirement, die of neglect, preventable disease, poverty, lack of care, due to crime (or its policing).
Here’s a bit of evidence to back up our “extremist exaggerations”.
https://www.theguardian.com/society/2026/may/21/care-leavers-deaths-social-services-england-review
Today’s headlines about Reeves’s response to “the cost of living crisis” (she doesn’t seem to have noticed the oil, LNG, fertiliser, helium, etc, etc, crises), feel like a Florida resident preparing for summer hurricanes with a role of sellotape (other brands of inadequate hurricane remedies are available).
Labour’s leadership challengers could start talking about what we should have been doing a month ago to prepare for Hormuz shortages and price-rises. I might be interested in what they have to say. Likewise, the Makerfield farce.
Much to agree with
Thank you