Recession my arse

[DaveGrohl]

A recession is defined by economists as 2 consecutive Quarters of negative growth in a Country's economy. So the UK is not currently in a Recession.

The UK currently has double digit inflation, if you are over 50, you will remember when this was considered normal, and you will also wonder why anyone considers a Bank Base Rate under 2% as high. You will probably also remember when Norman Lamont and the Tories lost control of economy (due to a US based speculator) and raised interest rates 3 or 4 times in three hours. There's a clip on youtube of Giles Brandreth who was a junior Treasury Minister at the time saying "We didn't know what was happening, we didn't know why it was happening, and we didn't know how to stop it happening"

As for people struggling to pay their bills, some chap rang the Jeremy Vine show the other day saying he was on a salary of £65,000 plus an annual bonus of £10,000 and he was taking a second job as he was struggling to make ends meet! So it's not just people on benefits who are seemingly unable to manage to budget their incomes.

In the case of you chap on £75k you have to wonder what bills exactly. He clearly didn't think his spending through a while ago to allow for reality.

 

[DaveGrohl]

Putting more tax on companies for the government to use as some form of fuel rebate is like someone who needs a blood transfusion. Taking blood from their own right arm. Spilling a chunk of it then dripping it in to their left arm.
If you think big companies are bad, government is the ultimate big company with a monopoly on legalized violence. The size of governments in western countries has been expanding rapidly over the last 5 years which is leading to most of the problems highlighted in this thread. Yet they are still able to spout propaganda that they are the solution and even farmers, the last bastion of the independent thinking man seem to be sucking it up.

There was a terrific little rant on GB News a while ago highlighting how the NHS value for money was absolutely shocking. They laid out some basic figures and it was an eye-opener. Govts are the last people you look to for allocation of money.

 

[bobk]

In the case of you chap on £75k you have to wonder what bills exactly. He clearly didn't think his spending through a while ago to allow for reality.

Modern generation spend , no dying wondering .

 

[bobk]

There was a terrific little rant on GB News a while ago highlighting how the NHS value for money was absolutely shocking. They laid out some basic figures and it was an eye-opener. Govts are the last people you look to for allocation of money.

Glad GB news is getting some traction , best reality program on tv

 

[yin ewe]

In the case of you chap on £75k you have to wonder what bills exactly. He clearly didn't think his spending through a while ago to allow for reality.

The more money you have the more money you spend, mostly on stuff you don't need. He'll have a bigger house therefore a bigger mortgage, a more expensive car so higher HP, will take a 3 week holiday to the south of France instead of a week to Skegness and will eat more expensive food than people on a 25k salary. He could of course cut back on a few things, drive a second hand micra, not bother with a holiday this year, and buy tesco own brand food but what would his neighbours think of him. The chap on 25k is probably already doing the aforementioned stuff so has less room to cut back.

 

[le bon paysan]

There was a terrific little rant on GB News a while ago highlighting how the NHS value for money was absolutely shocking. They laid out some basic figures and it was an eye-opener. Govts are the last people you look to for allocation of money.

Normal service, run water companies down through bad management then privatise for efficiency ( profits)
the railways...
gas board...
electric...
NHS is next

 

[Fendt65]

Obviously not quite as simple as this but I think too many people are burying their heads in the sand .

 

[hoff135]

If you want a cynical view, central banks did not care about blowing asset bubbles or goods and commodities getting more expensive as the rich own assets and big corporations produce commodities and goods.

But the red hot jobs market is giving the small person power, and we can't have that. So they will continue raising rates until they kill the jobs market stone dead.

 

[bobk]

If you want a cynical view, central banks did not care about blowing asset bubbles or goods and commodities getting more expensive as the rich own assets and big corporations produce commodities and goods.

But the red hot jobs market is giving the small person power, and we can't have that. So they will continue raising rates until they kill the jobs market stone dead.

That is cynical, but probably correct

 

[hoff135]

That is cynical, but probably correct

Not my view entirely tbh, one I read. But they didn't seem to worry about houses going up 1% a month and more. But now that people want better pay its a problem

 

[bobk]

Not my view entirely tbh, but one I read. But they didn't seem to worry about houses going up 1% a month and more. But now that people want better pay its a problem

It's all about control , the masses should do as they say . liberal wokism at work

 

[uztrac]

It's all about control , the masses should do as they say . liberal wokism at work

You have summed it up in one sentence.Totally correct ,it is all about control and the great RESET !!!!

 

[Top Tip.]

There was a terrific little rant on GB News a while ago highlighting how the NHS value for money was absolutely shocking. They laid out some basic figures and it was an eye-opener. Govts are the last people you look to for allocation of money.

The NHS is apparently the fifth largest employer in the world. I’m still struggling to get my head round that one.

 

[oil barron]

If you want a cynical view, central banks did not care about blowing asset bubbles or goods and commodities getting more expensive as the rich own assets and big corporations produce commodities and goods.

But the red hot jobs market is giving the small person power, and we can't have that. So they will continue raising rates until they kill the jobs market stone dead.

I think your giving way to much credit for thinking ability. They were just reacting to the news each night, which was basically saying upper middle class boomers need to be protected at all costs but blue collar workers need to get back to the coal face so they still have stuff to consume.

if Richi wins this race we will be praying for Keir Starmer to win the election to get a break from socialism.

 

[livestock 1]

agree - they would be better to address / regulate energy prices than mess with interest rates to dig themselves out of this hole

I was In Spain in May for a few days the government pay 20c per litre off fuel there to take the sting out of rising fuel costs and to steady inflation

 

[robs1]

Apparently a 1% increase on today’s “average mortgage” translates to an over £500 increase on the monthly payment .
I foresee rows and rows of “house for sale” signs if that’s the case including BTL’s.

1% on a £600,000 mortgage is 6,000 a year or 500 a month yet average house is well below that and according to mr google the current average mortgage is around £140,000 a 1% increase on that would be around 116, still a reasonable amount but I dont know how many are on fixed rates though. Of course 120 a month isnt such a good headline as 500 is it,

 

[glasshouse]

I was In Spain in May for a few days the government pay 20c per litre off fuel there to take the sting out of rising fuel costs and to steady inflation

A sensible path

 

[glasshouse]

Govt is going yo step in and prevent all evictions and power cut offs

 

[Y Fan Wen]

I've written this time and time again. It's called fudge you capitalism and it needs to stop. I want to tax these people and put the smackers on companies paying people like this. That money was generated from within the UK from the UK populace and far more of it belongs in the piggy bank of the exchequer. Maybe then we shouldn't have such high levels of public debt, roads that aren't ever repaired properly and public services that work and better yet, protect and enhance the lives of millions of people who are have nots and will never be haves unless something systemic is changed.

Also called neoliberalism, embraced by Blair and continued by subsequent governments. Also known as 'trickledown' economics, a truer name would be 'floodup' economics. Not going to be stopped until there is a Labour/Liberal/SNP coalition in charge which has a chance of undoing all the damage of the past quarter century.

 

[Hilly]

Govt is going yo step in and prevent all evictions and power cut offs

Licence for dodgey gits to not pay rent and electricity.