Inflation

[ri Alban]

Shell record £13b profit.

[Tazio]

 

[Nookie Bear]

22 minutes ago, The Maroon Pound said:

Maybe wee Nippy will cut the income tax rates to help pay for fuel? 

😂😂😂😂😂😂😂😂

 

er, no. 

[Nookie Bear]

12 minutes ago, ri Alban said:

Shell record £13b profit.

We are getting played for absolute mugs here. 
 

I can see a summer of discontent on the cards 😛

[jambostuart]

12 minutes ago, Nookie Bear said:

We are getting played for absolute mugs here. 
 

I can see a summer of discontent on the cards 😛

You say that tongue in cheek, but I don't think you're too far off. Once this becomes a reality and millions of people start to struggle there will be a huge amount of anger and resentment demonstrated by people all across the UK. 

[Nookie Bear]

Just now, jambostuart said:

You say that tongue in cheek, but I don't think you're too far off. Once this becomes a reality and millions of people start to struggle there will be a huge amount of anger and resentment demonstrated by people all across the UK. 

No tongue in cheek here. 
 

People have been quite literally locked up for two years and this is what awaits? **** that. 
 

 

[WorldChampions1902]

I agree that we could see some ‘discontent’ surfacing in the months ahead. It’s the compound effect of all the negative financial factors coalescing simultaneously that could bring this to an ugly turn of events. NIC increases, spiking inflation, minimal/nil pay awards, fuel/energy/food inflation etc etc.

[Cade]

“There are only nine meals between mankind and anarchy” 

-Alfred Henry Lewis, 1906

 

Britain's MI5 reckons that the UK is only "four meals from anarchy" at the best of times.

 

Vladimir Lenin cut that down even further when he said: “Every society is three meals away from chaos”

 

 

[SwindonJambo]

As others have said, social unrest often follows situations like this. A small privileged elite are unaffected and every one else is to a lesser or greater degree, with the poorest suffering the most as usual. The flames of resentment are fanned and it's easy to foresee something along the lines of the Summer Riots of 1981,91 & 2011, all of which followed economic hardship.

[ri Alban]

4 hours ago, Nookie Bear said:

We are getting played for absolute mugs here. 
 

I can see a summer of discontent on the cards 😛

They always have, backed by all colours of governments.

[Herbert.]

5 hours ago, Cade said:

“There are only nine meals between mankind and anarchy” 

-Alfred Henry Lewis, 1906

 

Britain's MI5 reckons that the UK is only "four meals from anarchy" at the best of times.

 

Vladimir Lenin cut that down even further when he said: “Every society is three meals away from chaos”

 

 

 

 

Get enough Hangry people together, there would be chaos.

[The Mighty Thor]

Heard an interview with Lord Rose, chairman of Asda, who was saying that the food increases are only beginning as factory gate prices are still to factor in increased raw material costs, inbound transport issues thanks to Brexit and of course energy cost increases. 

He thinks real inflation will be running high for 18 - 24 months.

[ri Alban]

7 hours ago, SwindonJambo said:

As others have said, social unrest often follows situations like this. A small privileged elite are unaffected and every one else is to a lesser or greater degree, with the poorest suffering the most as usual. The flames of resentment are fanned and it's easy to foresee something along the lines of the Summer Riots of 1981,91 & 2011, all of which followed economic hardship.

MPs and The Government won't have to worry, we all pay their Bills.(And all devolved elected politicians)

Edited February 4, 2022 by ri Alban

[Jambof3tornado]

13 hours ago, ri Alban said:

Shell record £13b profit.

Haha just off a fixed rate with shell. Did some number crunching using old tariff, standard tariff we just went onto then new april cap rates. Using Novembers bill which was £94-55 on cheaper fixed deal, onto current standard capped tariff it jumps to £132-98, then using the soon to be energy cap it jumps to £203!!!!!

 

Anyone need a 2nd hand kidney or lung(have asthma so I'll knock a few quid off the lung!!).

[Cade]

Governor of the Bank of England pleading with bosses not to put wages up to cover inflation, otherwise we'd end up in an inflation loop.

 

 

"hammer your workers, it's the only way!!"

[Gizmo]

15 hours ago, WorldChampions1902 said:

The French government nailing the energy price hikes is to be applauded. Imagine how much misery that could be avoided, if the U.K. Junta did the same?

4% compared to our ****ing 53% projection. The ***** promised they could remove VAT due to Brexit but of course they won't. 

We get the shittest deal in western europe in this dump of a country, where the **** does the money go.
 

7 hours ago, Herbert said:

 

 

Get enough Hangry people together, there would be chaos.

Not anymore - the Tories are conveniently outlawing any peaceful demos by using spurious "noise disturbance" rules. 

[Gizmo]

Perhaps the Tories have a solution after all...

 

[WorldChampions1902]

39 minutes ago, Cade said:

Governor of the Bank of England pleading with bosses not to put wages up to cover inflation, otherwise we'd end up in an inflation loop.

 

 

"hammer your workers, it's the only way!!"

He needs to have a word with Spaffer. According to his parallel universe, we have moved into a new quote, “High wage economy”.

[WorldChampions1902]

15 minutes ago, Gizmo said:

4% compared to our ****ing 53% projection. The ***** promised they could remove VAT due to Brexit but of course they won't. 

We get the shittest deal in western europe in this dump of a country, where the **** does the money go.
 

Not anymore - the Tories are conveniently outlawing any peaceful demos by using spurious "noise disturbance" rules. 

It was just more Lies! The irony now is that recent EU legislation now allows EU member countries to lower VAT rates on energy bills to 5%. Post-Brexit, the U.K. is not reducing the VAT - despite what was said during the Referendum..

 

As for where the money goes, the U.K. is one of biggest abusers of tax evasion measures via offshore banking in well-known destinations such as British Virgin Islands, Cayman Islands, Bermuda, Jersey etc…etc…. Furthermore, colossal sums of tax revenue is willingly given up by the U.K. government as it refuses to properly tax huge companies such as Amazon, Google etc. The government prefers to hike our NIC payments by 10% in April instead. And we are one of the richest countries in the world.

 

We get the government we deserve - sadly.

[Gizmo]

7 minutes ago, WorldChampions1902 said:

It was just more Lies! The irony now is that recent EU legislation now allows EU member countries to lower VAT rates on energy bills to 5%. Post-Brexit, the U.K. is not reducing the VAT - despite what was said during the Referendum..

 

As for where the money goes, the U.K. is one of biggest abusers of tax evasion measures via offshore banking in well-known destinations such as British Virgin Islands, Cayman Islands, Bermuda, Jersey etc…etc…. Furthermore, colossal sums of tax revenue is willingly given up by the U.K. government as it refuses to properly tax huge companies such as Amazon, Google etc. The government prefers to hike our NIC payments by 10% in April instead. And we are one of the richest countries in the world.

 

We get the government we deserve - sadly.

A lot of workplaces peg their cost of living wage rises, if they get them, further back ie November at 4.9%. The cost of living has increased far more than this, folk are going to be struggling and not just those on zero hour minimum wage salaries either. 

Local food bank is crying out for more volunteer drivers, I can see this lifeline being overwhelmed soon. 

[Craig_]

1 hour ago, Cade said:

Governor of the Bank of England pleading with bosses not to put wages up to cover inflation, otherwise we'd end up in an inflation loop.

 

 

"hammer your workers, it's the only way!!"

 

That's right Mr Bailey. The inflation's happened because we've all got so much ****ing money...

 

Absolutely shameless.

[Cade]

14 minutes ago, Craig_ said:

 

That's right Mr Bailey. The inflation's happened because we've all got so much ****ing money...

 

Absolutely shameless.

 

He did have a point, he just chose his wording poorly.

We don't want to end up like the mid 1970's with inflation running at 25% and wages going up at the same rate; the two things feed off each other and make things worse.

 

But, as Governor of the Bank of England, he has the power to bring inflation down with interest rate rises.

He could do that instead of telling bosses to keep wage rises at 3%.

*yes I know that interest rates went up to 0.5% this week but that's pissing in the ocean and nowhere near enough.

[SwindonJambo]

1 hour ago, Jambof3tornado said:

Haha just off a fixed rate with shell. Did some number crunching using old tariff, standard tariff we just went onto then new april cap rates. Using Novembers bill which was £94-55 on cheaper fixed deal, onto current standard capped tariff it jumps to £132-98, then using the soon to be energy cap it jumps to £203!!!!!

 

Anyone need a 2nd hand kidney or lung(have asthma so I'll knock a few quid off the lung!!).

I’m with Shell too and my cheap fix with then ends at the end of the month. They’ve just announced record quarterly profits and their current variable energy prices in this area are actually a little below the cap. The regional caps have all been announced in detail here:

https://www.ofgem.gov.uk/sites/default/files/2022-02/Default tariff cap level - 1 April 2022 - 30 September 2022.pdf

 

However as Shell recently bleated about losing money on their home energy business whilst making massive profits elsewhere, I don’t expect their new variable rate from 1st April to be much below the cap, if at all.

 

[SwindonJambo]

7 minutes ago, Cade said:

 

He did have a point, he just chose his wording poorly.

We don't want to end up like the mid 1970's with inflation running at 25% and wages going up at the same rate; the two things feed off each other and make things worse.

 

But, as Governor of the Bank of England, he has the power to bring inflation down with interest rate rises.

He could do that instead of telling bosses to keep wage rises at 3%.

*yes I know that interest rates went up to 0.5% this week but that's pissing in the ocean and nowhere near enough.

 

More interest rate rises are expected in the coming months. They are pussyfooting around now though. They’re too shit scared of upsetting their mates in the city because increased interest rates will cause a fall in the value of equities.

[The Mighty Thor]

13 minutes ago, Cade said:

But, as Governor of the Bank of England, he has the power to bring inflation down with interest rate rises.

He could do that instead of telling bosses to keep wage rises at 3%.

*yes I know that interest rates went up to 0.5% this week but that's pissing in the ocean and nowhere near enough.

He can't put the rates up to where they probably need to be as he'll bankrupt the majority of the 'middle classes' as they've become dependent on cheap money in the form of personal debt. They're up to their baws in the chucky. 

[Pans Jambo]

15 hours ago, Tazio said:

 

A £2 BILLION tax cut.

 

Has that happened then?

 

HAS IT ****

 

Yet ANOTHER lie. Like the whopper about no tax increases then the National Insurance goes up.

 

NI Rises

Gas & Electricity Rises

Petrol/Diesel Rises

Interest Rates Rises

Mortgage/Credit Card Rises

Food Price Rises

Internet Costs Rises

Mobile Phone Cost Rises

Train Fare Rises

 

No wage rises to speak of. These cost hikes affect real people in real life.

 

Welcome to tory brexit britian hoosejocks!

[WorldChampions1902]

1 minute ago, Pans Jambo said:

A £2 BILLION tax cut.

 

Has that happened then?

 

HAS IT ****

 

Yet ANOTHER lie. Like the whopper about no tax increases then the National Insurance goes up.

 

NI Rises

Gas & Electricity Rises

Petrol/Diesel Rises

Interest Rates Rises

Mortgage/Credit Card Rises

Food Price Rises

Internet Costs Rises

Mobile Phone Cost Rises

Train Fare Rises

 

No wage rises to speak of. These cost hikes affect real people in real life.

 

Welcome to tory brexit britian hoosejocks!

Yeah……but…..no but……All Hail Boris!
 

Sake.

[Irufushi]

15 hours ago, ri Alban said:

Shell record £13b profit.

***** . I’m with them due to my supplier going tits up and I’m 40 quid a month worse off. 

[Howdy Doody Jambo]

So when interest rates go up a few %, those with debts, mortgages, credit cards pay more and worse off

But the wealthy who have banked cash reserves that don't spend their dough to contribute to the economy and small businesses etc will be quids in yet again 

The rich getting richer and the poor getting poorer, colder and hungry, more crime, more illness 

This will end in tears 

[joondalupjambo]

15 hours ago, Nookie Bear said:

We are getting played for absolute mugs here. 
 

I can see a summer of discontent on the cards 😛

Unfortunately we are not French nor are we still in the 70's because either of those would see tens of thousands on the streets every day of the week😄

 

Too many people have too much and are sitting too comfortable and their position is I am alright Jack.  

[Nookie Bear]

20 minutes ago, joondalupjambo said:

Unfortunately we are not French nor are we still in the 70's because either of those would see tens of thousands on the streets every day of the week😄

 

Too many people have too much and are sitting too comfortable and their position is I am alright Jack.  

 

I think you may find many of those are sitting a little less comfortably right now.

[joondalupjambo]

11 minutes ago, Nookie Bear said:

 

I think you may find many of those are sitting a little less comfortably right now.

Guess time will tell. 

[gjcc]

54 minutes ago, The Maroon Pound said:

So when interest rates go up a few %, those with debts, mortgages, credit cards pay more and worse off

But the wealthy who have banked cash reserves that don't spend their dough to contribute to the economy and small businesses etc will be quids in yet again 

The rich getting richer and the poor getting poorer, colder and hungry, more crime, more illness 

This will end in tears 

Completely agree but there’s also a huge chunk in the middle that have put themselves in a sticky situation through lifestyle inflation. 
 

I’ve got friends who spend £400+ a month in cars they will never pay off. They are lucky to have enough equity for a deposit for the next one. 
 

I’ve got friends who are paying through the nose for 4+ bed houses despite only two folk living there. 
 

I’ve got friends who go on 2 big holidays a year with city breaks in between. 
 

These are the same friends that are moaning on Facebook about how they are going to struggle with these rises. People are free to do what they want with their money. However, don’t moan about it when there’s non-essential things to trim off the budget.

Never mind keeping up with the Joneses that’s trying to catch up with the Rees-Moggs. 
 

They think I’m the crazy one for looking longer term, not doing all the same nice things and not living paycheque to paycheque/crippling myself with debt to do it. 
 

Folk lower down are going to die because of this so I’m not going to be sympathetic because someone has to change their holiday to Florida to one in Tenerife instead. 
 

On the plus side. Plenty more photo opportunities coming up for Tory MP’s to open food banks. 

[Harry Potter]

My filters for my fish tank up from 6 pounds to 9 pounds, 😮, and dont get me started on lucozade.

as for fuel must still be ok for some, still spillages in my garage, throwing money away. 

[Cade]

1 hour ago, The Maroon Pound said:

So when interest rates go up a few %, those with debts, mortgages, credit cards pay more and worse off

 

 

Well yes, that is the point in putting interest rates up.

People have less to spend and borrowing becomes more expensive, theoretically leading to prices dropping and inflation coming down as the markets adjust to less ready cash being available.

[Jambo_jim2001]

Just put some free logs on fire, lovely and toasty here,need to look into putting cooking oil into my old old diesel car 40p a litre cheaper or free if I can be bothered going to local chip shops,have to admit a bit peeved at beer prices ,home brew getting looked into ,no real worries here,, feel it for all the folk that are maxxed out on credit,they should have renationalised all the power companies years ago and we wouldn't be in this state

[Jambo_jim2001]

15 minutes ago, gjcc said:

Completely agree but there’s also a huge chunk in the middle that have put themselves in a sticky situation through lifestyle inflation. 
 

I’ve got friends who spend £400+ a month in cars they will never pay off. They are lucky to have enough equity for a deposit for the next one. 
 

I’ve got friends who are paying through the nose for 4+ bed houses despite only two folk living there. 
 

I’ve got friends who go on 2 big holidays a year with city breaks in between. 
 

These are the same friends that are moaning on Facebook about how they are going to struggle with these rises. People are free to do what they want with their money. However, don’t moan about it when there’s non-essential things to trim off the budget.

Never mind keeping up with the Joneses that’s trying to catch up with the Rees-Moggs. 
 

They think I’m the crazy one for looking longer term, not doing all the same nice things and not living paycheque to paycheque/crippling myself with debt to do it. 
 

Folk lower down are going to die because of this so I’m not going to be sympathetic because someone has to change their holiday to Florida to one in Tenerife instead. 
 

On the plus side. Plenty more photo opportunities coming up for Tory MP’s to open food banks. 

Very posh dealership I used to work in,it amazed me,them in their £400,000+ house,£100,000 cars trying umpteen credit cards to pay bills,before one would work,,what a way to live,

[ArcticJambo]

McD's Wrap of the Day still £1.99 So good I bought three this afternoon!

[Nucky Thompson]

2 hours ago, The Maroon Pound said:

So when interest rates go up a few %, those with debts, mortgages, credit cards pay more and worse off

But the wealthy who have banked cash reserves that don't spend their dough to contribute to the economy and small businesses etc will be quids in yet again 

The rich getting richer and the poor getting poorer, colder and hungry, more crime, more illness 

This will end in tears 

I've no mortgage and debt, but I'm not wealthy either. I've got a few quid in the bank though and it's about time that I made some interest on my savings.

There's too many people became reliant on cheap debt, so those folk will just have to suck it up.

When I bought my first flat in the '80's the interest rate was about 13%! 

[Captain Sausage]

6 minutes ago, Nucky Thompson said:

I've no mortgage and debt, but I'm not wealthy either. I've got a few quid in the bank though and it's about time that I made some interest on my savings.

There's too many people became reliant on cheap debt, so those folk will just have to suck it up.

When I bought my first flat in the '80's the interest rate was about 13%! 

Folk are reliant on cheap debt because the flat you bought in the 80s now costs 1000% more.
 

The boomer attitude of ‘suck it up’ is so frustrating and makes no effort to understand why people are so grossly indebted. 

[ArcticJambo]

20 minutes ago, Nucky Thompson said:

I've no mortgage and debt, but I'm not wealthy either. I've got a few quid in the bank though and it's about time that I made some interest on my savings.

There's too many people became reliant on cheap debt, so those folk will just have to suck it up.

When I bought my first flat in the '80's the interest rate was about 13%! 

oooh, 13% on my savings, I'd bite my hand off for that.

[Cade]

Inflation in 1980 was 17.97% 

1981 11.88%
1982 8.6%

 

That's why you were getting 13% interest rates 

 

[Cade]

Spot the 1990 recession and the 2008 recession quite easily here:

 

 

Edited February 4, 2022 by Cade

[luckydug]

My first mortgage was fixed at 11% back in 1991. 

I thought I was getting a good deal. 

Dread to think of the carnage if mortgages go up to that again. 

I've been wondering where people are getting the money for those expensive new builds as it is. 

 

[Cade]

6 minutes ago, luckydug said:

 

I've been wondering where people are getting the money for those expensive new builds as it is. 

 

 

Either landlords looking for another cash generator to add to the portfolio

or

A first time buyer locked into a shared equity scheme so they only own 25% of the place AND have to pay a rent AND a service charge AND have to buy another 25% of it in 5/10 years time.

[Craig_]

4 hours ago, Irufushi said:

***** . I’m with them due to my supplier going tits up and I’m 40 quid a month worse off. 

 

My Shell shares went over £20 today, so thanks for that! 😁

[ri Alban]

Nearly a tenner to fill my wee green petrol can for my Stihl saw . It's usually 5 or 6 quid overflowing. Oil is at £92 a barrel. 

 

 

 

[Taffin]

1 hour ago, Cade said:

 

Either landlords looking for another cash generator to add to the portfolio

or

A first time buyer locked into a shared equity scheme so they only own 25% of the place AND have to pay a rent AND a service charge AND have to buy another 25% of it in 5/10 years time.

 

We're very aligned on the travesty of the UK housing market and appreciate your wider point, but there is of course the other 'or', of people working hard in decently paid jobs as well 

[jambo89]

2 hours ago, Nucky Thompson said:

I've no mortgage and debt, but I'm not wealthy either. I've got a few quid in the bank though and it's about time that I made some interest on my savings.

There's too many people became reliant on cheap debt, so those folk will just have to suck it up.

When I bought my first flat in the '80's the interest rate was about 13%! 

 

The average house was 4 times the average salary back then. It's now closer to 10 times the average salary. You're not that stupid to know this, so assume you are trolling.

[ri Alban]

It's good to see everyone in agreement.