Rising cost of living

[jfman]

I look forward to capitalism intervening to save us

[TheDaddy]

Originally Posted by Jaymoss

What do you think will happen? Do you think people will be left with nothing at all ?

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I pay some
As I said the Bedroom tax for the extra room in the house and a portion of the CT it comes to around £25 a month. I know it is not a lot and as I said I am fortunate.

You haven't got a lot so imo it's to much but then someone has to pay something or else these huge corporations wouldn't be able to make record profits. With all the things going catastrophically wrong in the country right now I'm just glad we didn't end up with free broadband, imagine how bad that would have been

[RichardCoulter]

Originally Posted by jfman

I look forward to capitalism intervening to save us

Capitalism is only ever used in the good times to make a minority richer, in the bad times it becomes nationalised and the good old taxpayer sorts it all out. When they have, it's sold off again to make a few people some more money. Rinse and repeat.

Originally Posted by Mr K

Didn't know you were old enough to be retired Paul?

I'm not, yet.

[OLD BOY]

Originally Posted by Damien

Brutal news today.

• 0.5% rise in interest rates. That'll be an unwelcome addition to anyone not on, or coming to the end of, a fixed term mortgage.
• Inflation set to sit 13% by the end of the year
• Recession predicted at the end of this year
• Ofcom is going to review the price cap every 3 months rather than 6

Mortgage rates and interest rates were much higher in the 1980s and 90s. I’m sure we can cope as a country, like we did before and when the media didn’t have such a leftie bias.

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Originally Posted by Mr K

Didn't know you were old enough to be retired Paul?

Thanks to the Govts promise to lock state pensions to the inflation rate, which they've lost control of, pensioners will now be getting >10% rises, whilst the working population get a fraction of that.

Meanwhile the country's debt increases massively and tomorrows pensioners can expect diddly squat.

Jam to bribe the Govt supporters today , sod all for future generations except having to pay for it all.

You may well think differently when you have to live on a pension. I’m afraid you will find you will be a lot worse off.

Originally Posted by OLD BOY

Mortgage rates and interest rates were much higher in the 1980s and 90s.

So were savings rates.
I remember when I used to get 10%.

[joglynne]

If you have had enough of all the doom and gloom that seems to be enveoping the country then skip this post

If anyone can bear being more depressed by our financial situation then read on.

I've been playing catch-up and reading a report published by the IMF in July. It's headed "Gloomy and More Uncertain" I tried to find an extract that gave a anything other than a gloomy out look and the following quote just about sums up.

Targeted fiscal support can help cushion the impact on the most vulnerable, but with government budgets stretched by the pandemic and the need for a disinflationary overall macroeconomic policy stance, such policies will need to be offset by increased taxes or lower government spending. Tighter monetary conditions will also affect financial stability, requiring judicious use of macroprudential tools and making reforms to debt resolution frameworks all the more necessary. Policies to address specific impacts on energy and food prices should focus on those most affected without distorting prices.

https://www.imf.org/en/Publications/...date-july-2022

The IMF blog by By Pierre-Olivier Gourinchas published on JULY 26, 2022 gives a more indepth look at the figures but seeing the UK coming last in the Advanced Economies, Largest World Economic Outlook Growth Projections table is even more depressing.
https://blogs.imf.org/2022/07/26/glo...rtain-outlook/

Originally Posted by OLD BOY

Mortgage rates and interest rates were much higher in the 1980s and 90s. I’m sure we can cope as a country, like we did before and when the media didn’t have such a leftie bias.

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You may well think differently when you have to live on a pension. I’m afraid you will find you will be a lot worse off.

Reporting facts ≠ ‘leftie bias"…

Oh, those well-known leftie-biased papers such as the Sun, the Mail, the Express, the Telegraph, and the Times who are reporting these things…

In the 80s, average house prices were around 3 times the average wage (4 in London), they are now 7 times the average wage (11 in London).

[1andrew1]

Originally Posted by OLD BOY

Mortgage rates and interest rates were much higher in the 1980s and 90s. I’m sure we can cope as a country, like we did before and when the media didn’t have such a leftie bias.

We need to be more ambitious for the UK and future generations than simply coping with an economic crisis.

We want to be at the forefront of global economic growth, not taking a tea break watching the rest of the world surge ahead of us.

[Mr K]

Originally Posted by 1andrew1

We need to be more ambitious for the UK and future generations that simply coping an economic crisis. We want to be at the forefront of global economic growth, not taking a tea break watching the rest of the world surge ahead of us.

Indeed, in which case it was an incredibly stupid decision we made in 2016. Lots of factors at the moment but that has put the tin lid on UK plc.

[OLD BOY]

Originally Posted by Hugh

Reporting facts ≠ ‘leftie bias"…

Oh, those well-known leftie-biased papers such as the Sun, the Mail, the Express, the Telegraph, and the Times who are reporting these things…

In the 80s, average house prices were around 3 times the average wage (4 in London), they are now 7 times the average wage (11 in London).

I wasn’t referring to the facts, Hugh, I was referring to the ‘doom and gloom’ context that is attached to everything these days to gain eyeballs. It’s pathetic, and a wonder anyone bothers to read all this negative tripe any more.

[Jaymoss]

Originally Posted by OLD BOY

I wasn’t referring to the facts, Hugh, I was referring to the ‘doom and gloom’ context that is attached to everything these days to gain eyeballs. It’s pathetic, and a wonder anyone bothers to read all this negative tripe any more.

Where would you get your sport if they didn't?

[1andrew1]

Originally Posted by OLD BOY

I wasn’t referring to the facts, Hugh, I was referring to the ‘doom and gloom’ context that is attached to everything these days to gain eyeballs. It’s pathetic, and a wonder anyone bothers to read all this negative tripe any more.

I think that people have been complaining about negative news since day zero, it's nothing new.

[nomadking]

Originally Posted by Jaymoss

Where would you get your sport if they didn't?

The problem is that the lies in the media influence voters. You only have to look at fuss and bother of the global profits of the oil companies, and that somehow people are made to think that the oil companies control the cost of household energy.

[richard-john56]

Let us think positive for a moment... O yes... I am going to join the Conservative Party for the very first time as they have loads more Parties than anyone else he, he.