Pete Townshend: ‘Inflation is a killer’

Pete Townshend isn’t here to cook some medium hot food.

The Who’s musician and guitarist offers lengthy interviews that delve into whatever topic he crosses his mind.

  • Aging
  • Tourism
  • Fellow Who rocker Roger Daltrey

Townshend wasn’t in the mood to hype the Culture Wars in a recent Rolling Stone chat, shared via Yahoo! News. He seems eager to hit the road again and bring people to his music. He even deftly dodges the mess in the middle Joe Rogan, Spotify and Neil Young.

What he will expand on, however, is the economy in a recession driven by inflation.

President Joe Biden’s America is seeing a crushing wave of it, back to Carter’s presidency. It’s an odd topic for a classic rocker, but he made it in this recent exchange.

The rock legend explained all the nuances of the band’s upcoming tour, including some inconvenient rules regarding COVID-19, in the smart back and forth. The second thread led to this revelation:

Inflation is a killer. I recall in the late seventies. Inflation in the UK is so much that I have a bank loan to a company that is leasing rock equipment to rock groups and publishing books and other things, my bank loan is 26%. It’s brutal. Inflation in the UK is at 15% to 17%. You must remember that the Second World War happened because of inflation….

Interestingly, when you’re on the road, a lot of people don’t get their final pay packet, we definitely don’t, until about a year after we’re done because the accounting process is so complicated. . By the time we get paid… and by the time everyone else gets paid, I want to make sure the money they’ve pledged to earn is worth it, in the end, what it was like in the beginning. .

Townshend did not mention President Biden by name. However, he doesn’t have to. During the interview, he also took a more conciliatory note about our divided ages.

We live in a very polarized society. As musicians, we really hope that music brings the two of us together. If we can do that, that would be great. If we can’t, so be it.

It’s clear that Townshend isn’t trying to steer fans toward his upcoming Who tour. What’s more obvious? He cannot remain silent about the current economic situation.

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