The Cost Of Living Crisis

[Yellow Fever 3,793]

1 hour ago, canarydan23 said:

Yep, it dropped by 5.7% across 2020, but recovered by 5.4% in 2021 and then exceeded it's pre-pandemic GDP at some point this year.

Obviously the above graph only considers countries that operate the Euro, I'm not sure how it would be affected by including the likes of Poland, Bulgaria et al but I doubt it would alter things significantly.  But the fact is, the EU has enjoyed significant more economic growth than the UK post pandemic and throughout the war in Ukraine. I posit that ours is relatively weak in comparison largely because of Brexit.

 

 

46 minutes ago, benchwarmer said:

"The UK economy is the only one in the G7 that has not recovered to pre-covid levels" - Stephanie Flanders, Head of Bloomberg Economics responding to today's BoE prediction of a longer UK recession than 2008.

The only issue not shared with the rest of the G7 is Brexit.  Covid is a red herring.  But even the BoE won't say so.

 

There is a general deftness of hand when people try to compare the UK to say the EU. The EU is a mix of many countries with quite independent economic issues - the southern Europeans have always had generally quite high unemployment for instance unlike their northern European neighbours. Same goes for GDP and inflation. Even saying 'Eurozone' tends to treat all such countries as the same. The 'idea' of the EU is bring these poorer nations up to the same levels as their richer neighbours - and create new markets as well. 

If you must compare the UK compare it to similar G7 economies as SF did. Anything else is at best really misleading and at worst disingenuous (i.e. EU unemployment) fit only for the gullible.

Edited November 3, 2022 by Yellow Fever

[canarydan23 4,060]

4 minutes ago, Yellow Fever said:

If you must compare the UK compare it to similar G7 economies as SF did

Did you miss this graph?

 

[Nuff Said 5,146]

On 27/10/2022 at 19:55, KernowCanary said:

It’s absolutely scaremongering how they use percentages to show how much each product in supermarkets has gone up, instead of actual pounds and pence.

Still, if it was pounds and pence it wouldn’t be as scary to see, the MSM agencies love scaremongering and they live off it as everyone click baits more and watch the news more. Even 5 News have a dedicated “Cost of Living Crisis” segment.

Eh? Using percentages is the only measure that makes sense. A house price increasing by £1 is trivial, a can of beans less so.

Plus anyone using the phrase MSM is pretty much outing themselves as a conspiracy theorist. 

[Yellow Fever 3,793]

52 minutes ago, canarydan23 said:

Did you miss this graph?

 

No - I agree with it. Is just a general point about comparing apples with apples (and not oranges).

Edited November 3, 2022 by Yellow Fever

[KernowCanary 214]

3 hours ago, TeemuVanBasten said:

What about parents who need to "get to work" but one of them now won't be able to because their 5 year old kid is going to be at home, I find it odd that you've managed to distinguish between the two.

Even before I saw your post I have had a change in opinion.

Sod them, nothing but selfish incompetent people who only care about themselves and money, not the future education of young people. Even the slogan of this Trade Union about education is a hypocritical joke.

The better half and myself used to be friends with two teachers who used to drink in our previous local pub. Fell out with them because they were being utterly unfair and always thinking they were in the right all the time. Makes us no longer want to socialise with people from that profession.

Cost of living, I’m sick of it. At least the latest MSM scaremongering story is not something that is locking us inside, confining us to Netflix alongside newspaper cartoons of the U.K. being wrapped in a padlock and chain alongside stupid virtue signalling gimmicks.

I’m not letting it change how I live, I’m going to book a Eurostar trip somewhere tomorrow and also tomorrow we are going to the Lake District.

Sod you MSM and up your’s Tories.

[KernowCanary 214]

Maybe I’m being a bit rash in my MSM scaremongering opinion, but at the end of the day their narrative that this country is going to be poor and expensive to live in, alongside poverty and a trashed economy when that already happened during lockdown all while “Real time pay cut”, “We are doomed”, “Brexit fallout” and “Going back to the 70s” keeps getting pedalled around, just isn’t on and is said without anything proper to back it up.

They scaremongered that the inflation rate will go up to 75 percent in October….. it didn’t happen. Prices on things are only going up because of the recent pandemic borrowing, amongst other things, Brexit is the smallest of those making an impact.

As for the 70s, they seem like good times to me….. quality music, quality football, quality films, kids respecting their elders…… Bring it on if so.

Edited November 3, 2022 by KernowCanary

[canarydan23 4,060]

6 minutes ago, KernowCanary said:

“Real time pay cut”, “We are doomed”, “Brexit fallout” and “Going back to the 70s” keeps getting pedalled around, just isn’t on and is said without anything proper to back it up.

Real time pay cuts are happening. That's what happens if your income doesn't keep up with inflation. What is backing that up is the fact that it is actually happening. In fairness, it's not a new phenomenon, real wage (what your pay is really worth in the current economic climate) has risen and fallen for decades. In the UK, the real value of play is dropping at a rate faster than it has for decades. You can't claim it isn't happening because it doesn't fit your narrative. And you can't just scream "MSM LIES!" when they're reporting facts to you.

I'll grant that "We are doomed" may be hyperbole, but this is undoubtedly a cost of living crisis. How can it not be? Anyone whose fixed term mortgage is coming up for renewal in the next 12 months is likely to be paying hundreds of pounds a month more. A month. Not a year. And this is at a time when energy bills are escalating at eye-watering rates, as are food costs (even if you don't like how they're being reported). People still need to fill their cars, heat their homes, pay their mortgages or rents (which will inevitably rise as landlords face higher costs) and eat. The lucky ones will have less cash to spend so will cut out on takeaways, days out, meals out, luxury goods. This will impact on jobs, company profits, etc. So yes, it does look bleak, whether "doomed" is a step too far I'll leave for others to judge but it cannot be described as wholly inaccurate. And Brexit undoubtedly negatively impacted the economy and has left us less well-equipped to deal with the crisis (and it is a global one) than our neighbours. And as for "Going back to the 70s", I'm not in the least bit qualified to comment on that one.

Yours appears to be very much an "I'm alright Jack" mentality. Because the crisis hasn't reached your doorstep, it can't be real. You can still afford trips across the Channel and to the Lake District, so what the hell is the problem? 

[TheGunnShow 5,940]

Got to admit, this is a period - and the same can be said of a pandemic and I indeed said such in a written interview with a researcher who published it on Medium - where I'm thinking my long-term propensity to be as minimalist as possible (deliberately never learned to drive to save the costs of running a car, for example) is serving me very well.

But I can see a lot more people in financial trouble, especially when looking at savings.

[ricardo 7,395]

All things are relative. Interest rates of 3% seem high after a decade or more of historically cheap money. Unfortunately some have been encouraged to borrow more than they should have and have little leeway to make ends meet. I was in a similar position back in the late 70's and it was a real worry for a time.

I paid various mortgages over a thirty year period when rates were never lower than 5% and often between 7 and 12% and once up to 15%. Sometimes things got very tight but I was fortunate to have a decent job and didn't default. The thought that you might lose your house is one of the biggest worries you can have in life, especially if you have dependants.

[Pyro Pete 1,899]

University and college staff agree to strike.

 

[keelansgrandad 6,679]

Chatting to a chap yesterday who helps run a food bank in Saltash. He said the public and supermarkets have been very generous in their sponsorship and gifts. But a new problem they faced was that many users are asking for food that doesn't involve the use of a lot of energy. A supermarket had given a lot of a certain food item, I can't remember which one now, and he said the users were handing them back because it involved turning on the oven. It appears its easier to get something that can be microwaved in five minutes rather than an hour in the oven.

[KernowCanary 214]

Biffy Clyro gigs selling out at arenas, the Taylor Hawkins tribute at Wembley seeing demand crash the servers of ticket vendors, cruise ships selling out to capacity, big six clubs selling out grounds almost every week.

Skint are we?, skint my foot!. Right, off to the Lake District we go!.

Edited November 4, 2022 by KernowCanary

[KernowCanary 214]

17 hours ago, Pyro Pete said:

University and college staff agree to strike.

 

Selfish f*ckers, sack the lot of them.

[Pyro Pete 1,899]

2 minutes ago, KernowCanary said:

Selfish f*ckers, sack the lot of them.

Nurses and teachers are next.

Strap in, this is going to get bumpy.

[KernowCanary 214]

Yeah, I’m alright jack and this latest “we are doomed” MSM craze is getting much so that’s the attitude I will have!.

This latest one won’t ever hit my “doorstep” and I never had Covid, nor has the better half so far. That one won’t and neither will this. Those who died of it, my heart goes out their families and them.

Its just that I’m so sick of hearing it all the time, it’s doing my mental health in and so that’s the attitude I will have and that’s the I’m Alright Jack one that’s been mentioned.

Its not surprising what all the train suicides increasing these days; its the lockdown, now this and the way the MSM reported/are reporting it that are causing people to get depressed over it all.

Edited November 4, 2022 by KernowCanary

[KernowCanary 214]

9 hours ago, Pyro Pete said:

Nurses and teachers are next.

Strap in, this is going to get bumpy.

Utterly selfish. It should be illegal to strike so many times in such short time and with Nurses, that’s the worse of the lot seeing peoples lives depend on them.

[Rock The Boat 1,332]

those of us who did live through the 70s, have experienced far, far worse than what is happening now. The government keeps stuffing money in my bank account to pay bills. I never asked them for it. that never used to happen. people have gone soft today.

[Well b back 3,222]

9 minutes ago, KernowCanary said:

Utterly selfish. It should be illegal to strike so many times in such short time and with Nurses, that’s the worse of the lot seeing peoples lives depend on them.

You could always have a go at working in the NHS and you will soon see that peoples lives that depend on it are at risk as it is dangerously understaffed and the very same nurses are working 7 days a week doing 12 hour shifts. NHS workers are leaving in their droves. What is also not being mentioned is most pay rises are non existent as the extra amount they have to contribute for their pension is higher than their wage increase. 
I also fear you are listening to Trumpism regards lives being put at risk ‘ by striking ‘. Nurses will not strike in vital areas, and the government should mention that lives are being put at risk by their own actions.

Ambulance force will also go on strike probably. If you disagree with that you agree maybe that their 12 hour shift often involves a pick up, then a 10 hour wait outside a hospital.

Every nurse I know that has voted yes ( most of them ) have juggled with their conscious before putting their x in the yes box. Unfortunately what hasn’t helped its t**** like Fabricant who accused all NHS workers of partying through the pandemic when trying to deflect criticism of Johnson.

[Well b back 3,222]

9 hours ago, KernowCanary said:

Selfish f*ckers, sack the lot of them.

 

On 03/11/2022 at 17:50, KernowCanary said:

Maybe I’m being a bit rash in my MSM scaremongering opinion, but at the end of the day their narrative that this country is going to be poor and expensive to live in, alongside poverty and a trashed economy when that already happened during lockdown all while “Real time pay cut”, “We are doomed”, “Brexit fallout” and “Going back to the 70s” keeps getting pedalled around, just isn’t on and is said without anything proper to back it up.

They scaremongered that the inflation rate will go up to 75 percent in October….. it didn’t happen. Prices on things are only going up because of the recent pandemic borrowing, amongst other things, Brexit is the smallest of those making an impact.

As for the 70s, they seem like good times to me….. quality music, quality football, quality films, kids respecting their elders…… Bring it on if so.

Lol

Your post is quite amusing, you have accused people of not producing anything proper to back it up, then uttered plenty yourself without backing it up. The BOE were predicting 12% inflation in October and I really have struggled to find any sensible institutions that predicted 75% inflation. Unfortunately prices are not going up just because of the pandemic and Brexit, there are many other world factors. Unfortunately though it has been made worse in the U.K. because of U.K. factors such as Brexit, a ridiculous mini budget and failure to plan ahead ie we closed our gas storage facilities.

[Daz Sparks 1,154]

8 hours ago, Well b back said:

Unfortunately though it has been made worse in the U.K. because of U.K. factors such as Brexit, a ridiculous mini budget and failure to plan ahead ie we closed our gas storage facilities.

This part though, is the most galling, all entirely avoidable.

Edited November 5, 2022 by Daz Sparks

[littleyellowbirdie 2,553]

On 03/11/2022 at 17:30, Yellow Fever said:

 

There is a general deftness of hand when people try to compare the UK to say the EU. The EU is a mix of many countries with quite independent economic issues - the southern Europeans have always had generally quite high unemployment for instance unlike their northern European neighbours. Same goes for GDP and inflation. Even saying 'Eurozone' tends to treat all such countries as the same. The 'idea' of the EU is bring these poorer nations up to the same levels as their richer neighbours - and create new markets as well. 

If you must compare the UK compare it to similar G7 economies as SF did. Anything else is at best really misleading and at worst disingenuous (i.e. EU unemployment) fit only for the gullible.

This sounds like a long-winded way of saying you can't compare to the Eurozone because the Eurozone doesn't really work properly. 

[ricardo 7,395]

8 hours ago, Well b back said:

ie we closed our gas storage facilities.

Reopened the Rough field gas storage facility last month after maintenance work and now in the process of refilling.

https://www.reuters.com/business/energy/british-gas-owner-centrica-reopens-rough-gas-storage-site-2022-10-28/

[Daz Sparks 1,154]

2 minutes ago, ricardo said:

Reopened the Rough field gas storage facility last month after maintenance work and now in the process of refilling.

https://www.reuters.com/business/energy/british-gas-owner-centrica-reopens-rough-gas-storage-site-2022-10-28/

Not amounting to much more than a fart in hurricane though, eh?

"This could satisfy probably 3-4% of UK home demand during the winter peak,"

[Herman 9,780]

The Conservatives!! They hindered and set back any renewable energy scheme while also shutting our largest gas storage facility. What were they actually planning for our energy needs??

[Rock The Boat 1,332]

1 hour ago, Herman said:

The Conservatives!! They hindered and set back any renewable energy scheme while also shutting our largest gas storage facility. What were they actually planning for our energy needs??

Buying it from the market. A policy which leaves you open as the Germans are now finding out to their cost. Energy security is more important than border security which is a priority. 

[Rock The Boat 1,332]

10 hours ago, Well b back said:

You could always have a go at working in the NHS and you will soon see that peoples lives that depend on it are at risk as it is dangerously understaffed and the very same nurses are working 7 days a week doing 12 hour shifts. NHS workers are leaving in their droves. What is also not being mentioned is most pay rises are non existent as the extra amount they have to contribute for their pension is higher than their wage increase. 
I also fear you are listening to Trumpism regards lives being put at risk ‘ by striking ‘. Nurses will not strike in vital areas, and the government should mention that lives are being put at risk by their own actions.

Ambulance force will also go on strike probably. If you disagree with that you agree maybe that their 12 hour shift often involves a pick up, then a 10 hour wait outside a hospital.

Every nurse I know that has voted yes ( most of them ) have juggled with their conscious before putting their x in the yes box. Unfortunately what hasn’t helped its t**** like Fabricant who accused all NHS workers of partying through the pandemic when trying to deflect criticism of Johnson.

Plus the freeze on life time pension allowances means all the doctors, consultants and surgeons will retire early or see 55% of their pension pot disappear. Tax the rich is a great soundbite until all your doctors are gone. 

[Herman 9,780]

49 minutes ago, Rock The Boat said:

Buying it from the market. A policy which leaves you open as the Germans are now finding out to their cost. Energy security is more important than border security which is a priority. 

Well yes. Energy security and self sufficiency should be a very key policy. A lot of clueless, short term policy making that only benefited a small minority of people.

[Rock The Boat 1,332]

8 minutes ago, Herman said:

Well yes. Energy security and self sufficiency should be a very key policy. A lot of clueless, short term policy making that only benefited a small minority of people.

If two blokes on a football forum can figure this out then what the he'll are they doing in government.?

I'll give you another one Hermie. Telecomms network - absolutely vital for national security including economic security. Needs to be a done in house. 

[Herman 9,780]

1 minute ago, Rock The Boat said:

If two blokes on a football forum can figure this out then what the he'll are they doing in government.?

I'll give you another one Hermie. Telecomms network - absolutely vital for national security including economic security. Needs to be a done in house. 

Nah mate. Hand it over to the Chinese. What could possibly go wrong.😉

[Well b back 3,222]

8 hours ago, ricardo said:

Reopened the Rough field gas storage facility last month after maintenance work and now in the process of refilling.

https://www.reuters.com/business/energy/british-gas-owner-centrica-reopens-rough-gas-storage-site-2022-10-28/

Nice Trumpism, we shut it down and reopened it when it was far to late.

And you conveniently miss off our major gas storage out at sea was also shut down.

Edited November 5, 2022 by Well b back