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There's an interesting thread on Twitter posted yesterday by Richard Murphy - he of the University of Sheffield and associated, directly or indirectly, with concepts like "Corbynomics" and the "Green New Deal".

 

I appreciate he may not be (or may not seem to be) entirely objective, but he makes a compelling case as to why the Bank of England might be about to make the cost of living a hell of a lot more unbearable, and might be about to tip the British economy into a severe recession.  He also points out that if they do, it's free money on the double for the banks - up to a billion a week from the poor unfortunate mortgage holders, and about £750 million a week from the taxpayer.  He goes on to note that this £750 million a week is money that could be used by the Government to alleviate cost of living pressures, or provide public services, or even just give away in tax cuts, but it will do none of those things.  Instead, it will increase the profits of the banks.

 

Have a read if you like.

 

 

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12 hours ago, Ulysses said:

There's an interesting thread on Twitter posted yesterday by Richard Murphy - he of the University of Sheffield and associated, directly or indirectly, with concepts like "Corbynomics" and the "Green New Deal".

 

I appreciate he may not be (or may not seem to be) entirely objective, but he makes a compelling case as to why the Bank of England might be about to make the cost of living a hell of a lot more unbearable, and might be about to tip the British economy into a severe recession.  He also points out that if they do, it's free money on the double for the banks - up to a billion a week from the poor unfortunate mortgage holders, and about £750 million a week from the taxpayer.  He goes on to note that this £750 million a week is money that could be used by the Government to alleviate cost of living pressures, or provide public services, or even just give away in tax cuts, but it will do none of those things.  Instead, it will increase the profits of the banks.

 

Have a read if you like.

 

 

Where will this end? General strike, civil disobedience, riots, breakdown of society, war?

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WorldChampions1902
52 minutes ago, Pans Jambo said:

Where will this end? General strike, civil disobedience, riots, breakdown of society, war?

Unlike the French, there will be no dissent. Instead, mid-Englandshire will doff its cap and thank the Tory Toffs for all they have done for them these past 12 years.

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That thing you do
2 hours ago, Pans Jambo said:

Where will this end? General strike, civil disobedience, riots, breakdown of society, war?

Maybe not war but Id be surprised if we didnt see the rest of them.

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That thing you do
14 hours ago, Ulysses said:

There's an interesting thread on Twitter posted yesterday by Richard Murphy - he of the University of Sheffield and associated, directly or indirectly, with concepts like "Corbynomics" and the "Green New Deal".

 

I appreciate he may not be (or may not seem to be) entirely objective, but he makes a compelling case as to why the Bank of England might be about to make the cost of living a hell of a lot more unbearable, and might be about to tip the British economy into a severe recession.  He also points out that if they do, it's free money on the double for the banks - up to a billion a week from the poor unfortunate mortgage holders, and about £750 million a week from the taxpayer.  He goes on to note that this £750 million a week is money that could be used by the Government to alleviate cost of living pressures, or provide public services, or even just give away in tax cuts, but it will do none of those things.  Instead, it will increase the profits of the banks.

 

Have a read if you like.

 

 

Thats a pretty sobering thread. Essentially, if interest rates and energy prices go where both are likely to go then mortgage defaults will go through the roof.

 

Theres going to be a significant number of people, as in US, living in cars etc unless something different is done. Sad thing is, I doubt it will and hes probably right.

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How come we always find money for Banks, Big Business and Maps expenses, yet feck all for the wee people. COVID was necessary, or no ***** would have sat in the Hoose. 

 

Allowing these energy companies to write their own profits is a bloody scandal.

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10 hours ago, Pans Jambo said:

Where will this end? General strike, civil disobedience, riots, breakdown of society, war?

 

7 hours ago, That thing you do said:

Thats a pretty sobering thread. Essentially, if interest rates and energy prices go where both are likely to go then mortgage defaults will go through the roof.

 

Theres going to be a significant number of people, as in US, living in cars etc unless something different is done. Sad thing is, I doubt it will and hes probably right.

 

7 hours ago, ri Alban said:

How come we always find money for Banks, Big Business and Maps expenses, yet feck all for the wee people. COVID was necessary, or no ***** would have sat in the Hoose. 

 

Allowing these energy companies to write their own profits is a bloody scandal.

 

We'll just have to wait and see.  The scenario set out by Murphy may be at the extreme end of the probability scale and may not happen, of course - but if the BoE behaves in the classic way central banks are supposed to when faced with double-digit inflation, it could lead to an austerity squeeze on the same scale as post-2008

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That thing you do

Feel dirty reading the mail but https://www.dailymail.co.uk/news/article-11150389/The-worst-come-Britons-told-expect-double-digit-inflation-winter.html

 

Double digit inflation into next winter as well. Households on 45k or less likely to struggle. 55k single incomes also could.

 

Just think how many earn less? 20 million plus.

 

Zahawi meanwhile suggesting energy rationing to reduce costs. So...1 hour a day of heat? Wear 72 layers? Just wtf kind of answer is ration it??!!

 

 

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Wales and Scotland getting ripped right off with energy bills. Scotland produces almost double and Wales almost 2 and half times what we use. NI break even. I wonder who we're all subsidising. 🤔.

Should be on the energy thread, but feck it.

Edited by ri Alban
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5 hours ago, ri Alban said:

Wales and Scotland getting ripped right off with energy bills. Scotland produces almost double and Wales almost 2 and half times what we use. NI break even. I wonder who we're all subsidising. 🤔.

Should be on the energy thread, but feck it.

Wish folk would wake the feck up!

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Jambo 4 Ever

How do people who want to have a baby make it work if they need to take time off work for maternity / paternity leave… and pay a mortgage and bills etc ?

 

i feel sorry for those 

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Unknown user
1 minute ago, OBE said:

£7 for a 750g tub of Lurpak butter, which is now sporting a yellow security tag...Wow!  Spread the word...😄

 

I've been taking it dry for ages. Bread, I mean.

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2 minutes ago, Jambo 4 Ever said:

How do people who want to have a baby make it work if they need to take time off work for maternity / paternity leave… and pay a mortgage and bills etc ?

 

i feel sorry for those 


Hopefully something you’ll never have to worry about. Future generations have enough problems without your offspring to to worry about. 

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1 minute ago, Smithee said:

I've been taking it dry for ages. Bread, I mean.

Toast? Just slumming it with Jam & Marmalade?

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Jambo 4 Ever
3 minutes ago, AlimOzturk said:


Hopefully something you’ll never have to worry about. Future generations have enough problems without your offspring to to worry about. 

How funny …… not!!

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Unknown user
5 minutes ago, OBE said:

Toast? Just slumming it with Jam & Marmalade?

Yep, with cheese of course. You can't have Rose's lemon and lime without cheese, or peanut butter. It needs the dry.

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4 minutes ago, Smithee said:

Yep, with cheese of course. You can't have Rose's lemon and lime without cheese, or peanut butter. It needs the dry.

Ok, what kinda cheese? Maybe pair them up when my hands are idle, ran outa rooms to decorate...😆

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Unknown user
14 minutes ago, OBE said:

Ok, what kinda cheese? Maybe pair them up when my hands are idle, ran outa rooms to decorate...😆

Start with cheddar, classic.

 

It sounds weird, but think how well cheese works with sweet and moisture in a cheese cake 

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1 minute ago, Smithee said:

Start with cheddar, classic.

 

It sounds weird, but think how well cheese works with sweet and moisture in a cheese cake 

You've thought about this too much. Cheesee :cheese:

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Unknown user
7 minutes ago, ri Alban said:

You've thought about this too much. Cheesee :cheese:

I've been eating cheese and jam pieces for 40 years mate, I dream about them!

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1 minute ago, Smithee said:

I've been eating cheese and jam pieces for 40 years mate, I dream about them!

Pieces in corned beef and tomato soup is my go to. And when I have a fry , I don't know why she puts it on a plate. It all goes in three rolls. 😋

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il Duce McTarkin
8 hours ago, Smithee said:

I've been eating cheese and jam pieces for 40 years mate, I dream about them!

 

Good lad.

Cheese and jam piece daft, me. 

 

Toasted with a wee slice of unsmoked streaky bacon in there works a treat too. 

 

 

 

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JudyJudyJudy
9 hours ago, Jambo 4 Ever said:

How do people who want to have a baby make it work if they need to take time off work for maternity / paternity leave… and pay a mortgage and bills etc ?

 

i feel sorry for those 

It’s Scotland we are in , bonus points if you kids , the state practically encourages it 

8 hours ago, Smithee said:

I've been eating cheese and jam pieces for 40 years mate, I dream about them!

Sounds foul 

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Unknown user
22 minutes ago, JudyJudyJudy said:

Sounds foul 

 

Individual human existence can be split into 2 distinct parts; there's life after your first cheese and jam piece, and the darkness that preceded it.

 

Some unfortunate souls will never know 😿

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Unknown user

Sweet and savoury's amazing, we had these bacon, cheese and syrup pancakes with slices of apple in the base in Enkhuizen, **** me!

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9 minutes ago, Smithee said:

 

Individual human existence can be split into 2 distinct parts; there's life after your first cheese and jam piece, and the darkness that preceded it.

 

Some unfortunate souls will never know 😿

Christmas cake + Wensleydale  😋

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JudyJudyJudy
21 minutes ago, jonesy said:

As it should. Pretty much the entire point of existence is to keep churning out more of the same species.

Not for everyone . I don’t need  any validation by fertilising my sperm with an egg 🥚 

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JudyJudyJudy
23 minutes ago, kila said:

 

Brie and cranberry as a posh version then?

I suppose it is actually . Love most cheeses . In fact eat too much of it really but yolo 

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Jambo_jim2001
On 27/08/2022 at 14:34, ri Alban said:

Wales and Scotland getting ripped right off with energy bills. Scotland produces almost double and Wales almost 2 and half times what we use. NI break even. I wonder who we're all subsidising. 🤔.

Should be on the energy thread, but feck it.

IOM have frozen the utility bills😳 gas powered generated station,,wonder where the gas comes from🤔🤔

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JudyJudyJudy
9 minutes ago, jonesy said:

Of couse, bud. Not everyone does it, but procreation is as close to a meaning of life as any (and every) species has.

 

AC155762-F6D2-4660-891C-008E60CDF286.gif

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Jambo_jim2001
9 hours ago, Smithee said:

I've been eating cheese and jam pieces for 40 years mate, I dream about them!

A Bo' Ness steak as it's known in lithgae😂 

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  • 2 weeks later...
Captain Sausage

I’ve just paid a £1700 early repayment charge and fixed my mortgage which was due to finish in April 23. 
 

My wife’s friend works at Goldman Sachs and she said their projection is for BOE base rate to climb to 4% by the middle of next year. 
 

Given it’s currently at 1.75% (albeit expected to go to 2.25% this month) and the best mortgage rates available for a 80% LTV on a 5 year fix are 3.6%, I’m going to end up paying £300 a month more, but at least I’m protected from a rise of 7-900 a month if rates keep going up. 
 

We are starting to feel the pinch now, money running out a week early despite us switching from Sainsburys to Aldi/Lidl and stopping all pubs/takeaways. With utility bills going up next month and another £300 to find for the mortgage, I think we are going to have to find either new jobs or start cutting back on nursery provision which is a nightmare as we both work full time and don’t have family nearby. 
 

I think this is going to get quite nasty quite quickly. 

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54 minutes ago, Captain Sausage said:

I’ve just paid a £1700 early repayment charge and fixed my mortgage which was due to finish in April 23. 
 

My wife’s friend works at Goldman Sachs and she said their projection is for BOE base rate to climb to 4% by the middle of next year. 
 

Given it’s currently at 1.75% (albeit expected to go to 2.25% this month) and the best mortgage rates available for a 80% LTV on a 5 year fix are 3.6%, I’m going to end up paying £300 a month more, but at least I’m protected from a rise of 7-900 a month if rates keep going up. 
 

We are starting to feel the pinch now, money running out a week early despite us switching from Sainsburys to Aldi/Lidl and stopping all pubs/takeaways. With utility bills going up next month and another £300 to find for the mortgage, I think we are going to have to find either new jobs or start cutting back on nursery provision which is a nightmare as we both work full time and don’t have family nearby. 
 

I think this is going to get quite nasty quite quickly. 

 

Good reminder - we've got a chance to fix our mortgage rate - thanks.

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9 minutes ago, Greedy Jambo said:

Over 15 quid to get a 12 inch pizza delivered from a chippy, Ridiculous. 

How much was the pizza ? 

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11 minutes ago, JudyJudyJudy said:

How much was the pizza ? 

 

I didn't order it, I'm no stupid. 

12 quid though, 3 quid delivery, 50p to just eat. 

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Cairneyhill Jambo
36 minutes ago, Greedy Jambo said:

Over 15 quid to get a 12 inch pizza delivered from a chippy, Ridiculous. 

A fish supper from the Gorgie Fish Bar is now a tenner. Unreal. 

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6 minutes ago, Cairneyhill Jambo said:

A fish supper from the Gorgie Fish Bar is now a tenner. Unreal. 

 

Aye, that's bad, especially when you finish the fish in about 3 minutes and you're just left with chips, how much does it cost to fry some potato's man? 

 

I know they've got overheads etc, but they're going to lose so many customers, is it worth it?

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