UK inflation now 5.1%

At a guess I would say Norway, Saudi Arabia, Qatar and UAE?

 

They won't be when we stop using so much oil.

 

Yeah but we got Brexit done!

 

I agree with much of your post except the bit about Brown starting the cheap credit phenomenon. As I recall, it was a trend around the world (in the West anyway) and, in the USA, directly led to the targeting of low-income home buyers and the creation of a housing bubble, which duly burst in 2007-8. The Great Recession of 2008 followed on as a consequence.

 

Perhaps it's my semantics, what I ought to have made clearer was that he was Chancellor, when very low interest rates began. In my lifetime this hasn't been the norm and Chancellors used to raise interest rates to lower or stabilise inflation. He had handed control of this to the B of E,in 1997. He should be and was given credit,along with Alistair Darling for their work in preventing a even greater financial collapse in 2008.
I hope that clears that up for you OG,I wasn't wanting to place the blame solely at his door. In many ways, we could all be described as culpable, if I was being harsh,which I usually am.

 

Based on what? ‘But Corbyn’ I suspect

 

Cost of fuel, also other increased costs of transporting goods, such as a big rise in wages due to shortage of drivers

 

my opinion and his 'policies' obviously just my opinion as its impossible to know for sure

 

Technically no . All money is debt so to have an economy with money to barter with you must first get in debt to create said money . That's certainly the case for fiat currencies , not so sure with the old methods such as the gold standard which was the asset which gave money value .

 

So it’s ‘whataboutery’ then. Labour’s policies weren’t the issue we are often told, it was that Corbyn was the Devils incarnate who wanted to turn the Country into a fairer more caring society, oh no sorry, turn into a Communist Bloc Country, who’s accusers were/ are big friends of erm..Communist Russia. Confusing innit

 

that's your opinion, mines different that's all

 

You've got a payrise?

 

Don't think anyone can blame people for not saving and spending their disposable income, the artificially low interest rates make it so unattractive to savers that unless you are willing to put your money away for 10+ years in an ISA there is little point in doing anything other then spending and now with inflation at 5% and rising there's even less incentive to save.
But just think how bad things would have been under Labour?

 

I just refinanced my business borrowing with a recovery loan - my main reasons were to remove any personal guarantees remaining and reduce the overall monthly repayment. I'm actually pretty ashamed to say that until I was going through the documents sorting everything out I had no idea that one of the bigger ones I cleared was actually variable, pegged to the BoE rate plus a percentage.

I'm rapidly heading towards the end of my 30s, but due to graduating pretty much directly into the 2008 financial crash interest rates have been one of the very few finance/work issues which just haven't been on my radar of things to worry about. Trying to take them back to anything like the pre-2008 'normal' is going to be seriously painful for anybody under 40 or so who isn't rich enough to have paid off a mortgage (which I guess makes it perfect policy for the current lot)...

 

Of course it is, I’m just simply pointing out what was said at the time, and it is a very ‘but Corbynesque’ one

 

Stagflation on the way, not so much due to productivity failings in factories, etc, but due to supply chain issues & rising costs of importing any raw materials.

Well done all you Brexit voters. A lot of you don't want the vaccine either. What is your next plan to **** the country up? You already voted Johnson in.

 

I’m trying, but it is very difficult, nay nigh impossible to think of the Country being in a worse state on practically all fronts as it is now, and has been for too many years, notwithstanding the pandemic p,

 

The damage was done in 2008 . We effectively bailed a system that failed . Guess what happens when you bail a failed system , it fails again . Interestingly enough worldwide 14 trillion in QE money was printed without a flicker in inflation but this time I don't really see a way out .