It’s an endless cycle. Inflation goes up so they increase interest rates. Which means people ask for more money to pay for things which then makes it worse. Cut interest rates, stop handing out 10% pay rises, force companies to not increase their prices to maintain profits. Supermarkets should not be maintaining current profits in current climate. In a time when people are struggling, their profits should also be taking a hit and the one sat the top who don’t need the money should be squeezed
Same with petrol & energy prices. How long did it take them to raise the price compared to bring them down?
The blame is obvious. COVID government stimulus cheques. Governments all round the world just pumping out money as stimulus. I thought it was a bad idea then, and I still do. It may have helped us through a year of uncertainty when COVID was hurting the economy, but now we're going to be stuck with the fallout for a long time. Not saying some people didn't need the help. Those who literally couldn't work needed helping out... But governments just went crazy giving out money to everyone.
He's fine mate, just took over three years to get anyone to listen. Needed that to get him the help he needs! DLA is just a bonus, a very helpful bonus!
Don't know if inflation and RPI are linked, I assume they are, but the letter reduced from April to May. Not seen the June figures yet
but it's not endless. they have driven a bubble by printing money like nobodies business over covid that made the printing of money after 3008 look minor. they've now had shortages everywhere because first we have too many months on the planet and a struggling supply chain that was totally disrupted by covid. everything is short so demand is up. lost of money, lots of demand. throw in a war that shorts the energy side and suddenly its hyper inflation. the sole tool in a government's box for inflation is interest rates. it affects every aspect of financial world. it affects ability to borrow and get credit to spend money on any number of things it encourages saving and holding money as interest was formerly a way people did grow cash it depresses stocks. yes it basically beats us ordinary people over the head but it's exactly the same on the other end. in a recession the only way to stimulate economy is to print money and fund projects and release capital into the market. it's the inevitable cycle of boom and bust.
my personal view from having a job where we could go to work and not kill each other is that governments lost their minds with a lot of jobsworths making up **** rules. in general no shops really needed to close. the issue was public transport being rammed and pubs and clubs. it was perfectly feasible to have done a far less harmful post initial lockdown process of keeping businesses open. bars and restaurants were difficult. but you could keep food open easily if you had sense. anything with drink involved was impossible. we had police walking round like nazis telling people sat on grass in the open to move on etc. lunatic kind of behaviour that was across the board in Europe and USA. anyway. Once people shut every single business they had to start printing money and the result of all that cash is what we see now. the airports are rammed full. absolutely rammed cos there's a **** tonne of people with lots of money to spend while others are struggling.
I do think stimulus should and could have been more targeted. Not saying the stimulus could have been avoided altogether. I don't know about UK but even wealthy people in the US we're getting big stimulus cheques. Didn't matter who you were or what you did, you got a stimulus. The stimulus itself wasn't enough if you couldn't work at all, didn't replace a job... But was completely just play money to the majority who had a job and kept working during COVID.
Covid stimulus was tiny to the ridiculously excessive Quantitive Easing the major economies engaged in to "deal" with the financial crash which made sense originally but was carried on far far too long in a process which just made well off people with assets much wealthier for doing the square root of **** all ..
the yanks did 13 trillion over covid. over 2 years. that's a 35% of all money in circulation popping into existence in 2 years. it's 9 trillion from 2008 to 2016. you are right though. they got hooked on main lining this drug over the long term and then over dosed over covid. they were so desperate to avoid stagnation that they drove a bubble that's been driven mad now.
not like yanks but companies did get payments to keep employing people. a lot of people sat at home on 80% pay having an alright time while making up mental health excuses to juatify doing a boris.
yeah but in theory that was for people in employment who couldn’t work so wasn’t just given to anyone.
` well that is true. yanks handed billionaires a cheque for a grand a couple of times. I'm just pointing out the uk governemtn in effect created a lot of inflationary pressure by creating money too. but as i said one third of all us currency that exists was "created" in 2 years over covid. that's inflation writ large.
You really ought to consider who could be reading your comments before posting **** like that! I was on furlough for eighteen months. Never had mental health issues prior, been struggling on and off ever since. The pandemic/furlough ****ed my head up! Mental health is the reason I no longer post as much as I once did.
Yeah, I was on furlough too for a few months, mostly spent worrying about losing my job and, then yes I did get made redundant. Got a ****ty redundancy offer which I was pressurised to accept quickly. It also happened as we were trying to move as we only had a 2 bed flat at the time with another bun in the oven. We had multiple offers fail because of issues resulting from covid. It was ****. I was actually depressed and had some horrible thoughts I'd rather not go into. The only upside was I got to spend more time with my little boy than I ever would have done otherwise. This is the same attitude that make some people think that all people on benefits are just scroungers on the gravy train, when the vast majority want to work, but circumstances don't allow.
sorry mate. it's just a throw away comment about people in general shouting mental health as excuse to get pubs opens at the time.
