Inflation

Who would have thought after all that quantitative easing during the last 2 years we would see inflation soar?

 

Peak inflation forecast now up from 10% to 11% and interest rates raise 0.25% to 1.25%. Like trying to stop a runaway train with a peashooter.

 

I don't envy the BoE at all. The reasons for inflation aren't rampant consumer spending, so raising interest rates is doing to do little, other than hurt people who are already struggling. Yet there is market expectation that the BoE should act. While on the flip side, we've an economy that's heading for recession and knowing there are frictions ahead that will damage it further and potential conflicts with key trade markets. Not good.

 

Yep. We have an entire generation raised on cheap money, so any substantial hike is going to screw so many people when they come to remortgage. Rock and a hard place.

 

Or awarding contracts to your mates instead of using a tendering process.

 

What If Money Was Equally Distributed? (insh.world)
But not sure of the political biased behind who issued this.

 

£999,999,999,999

 

Base Interest rate gone to 1.25%

Pissing into the wind against the inevitable catastrophic combined impacts of Brexit, lockdowns and money printer go brrr.

 

Till 1 to till 2 "Tracey have you any notes"
Till 2 to till 1. " No Janet"
Janet to customer. " Sorry, it's all in coins. do you want a carrier bag. If so, that'll be 10p."

 

Fixed my mortgage for 5 years last month. It was a increase on what I had been paying but a modest one. Glad my deal ran out when it did as it looks like it will get worse before it gets better.

 

Just had a reminder that my 3 year fixed energy bill runs out at the end of next month - ouch.

 

I know, it's written by a capitalist s41t head.

"We also have to wonder what would happen to the quality of goods and services in a world where everyone makes the same, and there’s no incentive to innovate or work harder."

What a tool. If I did what I do for the money I'd flog my skills to a petrochemical company, not work to help children looked after.

 

That will be a very big ouch. Make sure meter readings are accurate ect even if it's a smart meter I'd still check.

 

Thowt as much from the point you quoted.

 

Still, thanks for the link. You don't have to agree with the author and their bias to find the subject interesting.

 

Was a

bout that when I bought my first property in 1979 . During that year if I recall correctly it doubled to around 15%. Luckily for me I was a single man with no dependants and managed to be single minded enough to come out the other end unscathed, but skint.

 

I have no doubt it was hard, but when you look at the trend of house prices compared to earnings and where things are now, interest rates will not have to go nearly that high in order for people to be in similar difficulty.

 

Absolutely nothing to do with the 450 billion that this government, and many like it globally have spaffed up the wall since the onset of the "pandemic".

It was the biggest wealth transfer from the people to the super rich in living memory and all the news media will talk about is the Bank of England and interest rates. Not perhaps, launch an investigation into where all that money actually went?

No, just keep feeding us crap in the news to get us dummies all hot and bothered about flights to Rwanda or a few folk crossing the channel on lilos strapped together.

We need to come together as a nation and oust the parasites from the top, no two ways about it.

Look at fuel, almost half of the pump price is tax. The Government could say " until the cost of living crisis is over, we're going to halve the cost of fuel and also cap the profits that oil companies can make at 5% per annum."

Same with gas and electricity.

But no, and why not? For the same reason our lovely council likes to build on green belt land and put gyratories where they aren't needed, corruption plain and simple.

This corruption just happens to be on a global scale.

 

And if it's not a smart meter make sure you don't accidentally supply overinflated readings at the end to essentially prepay for some energy at the lower rate. Because that would be fraud and naughty, and I definitely don't approve or endorse doing that.