Cost of Living Crisis

[Clown Job]

5 hours ago, Crazy Days said:

Price cap for energy going to be revised on a 3 monthly basis.  Likely to be 4 increases per years now!

Source?

I could see massive civil unrest if this happens 

[Crazy Days]

7 hours ago, Clown Job said:

Source?

I could see massive civil unrest if this happens 

CEO or someone like that from Ofgem was on Breakfast time yesterday morning.  Going to 4 times a year will give early reductions in costs if the price comes down he said - aye right.

[Zern]

Aren't these the same proposals that Martin Lewis described as a "fucking disgrace", in that they proposed that if prices dropped by 10% or more and you switched supplier the new supplier had to pay 85% reimbursement to the company you left.

Effectively; bills cannot fall as fast as they rise, which creates a ratchet effect keeping consumer prices artificially high.

[Soapy FFC]

2 hours ago, Crazy Days said:

CEO or someone like that from Ofgem was on Breakfast time yesterday morning.  Going to 4 times a year will give early reductions in costs if the price comes down he said - aye right.

And here was me thinking a cap only set the maximum tariff, so there's nothing to stop companies cutting tariffs if prices drop before the cap is lowered.

[Benjamin_Nevis]

I see Nigel Farage is now grifting his way into the Cost of Living crisis by pretending to give a shite about the costs of petrol 

[SweeperDee]

I listened to some podcasts the other day with Gary Stevenson. Not sure if people have heard of him. He came from a poor background and managed to get into london school of economics. He then got a job with Citibank by winning a card game and went onto become their most profitable trader in the world. He did this by consistently betting that the economy would continue to perform worse whilst everyone was predicting it would improve.

Anyways, he was predicting this would happen just as covid happened which was march 20. He puts it all down to the huge inequality which only got worse during covid. He is an advocate for a wealth tax which would help ease the cost of living crisis. He essentially alludes to the thought that there is not a cost of living crisis but more so an inequality crisis and until this is addressed then it will never improve. His march 20 prediction seems to be pretty spot on sadly

How does one bet on the “economy will perform worse” market?

[DMCs]

2 hours ago, SweeperDee said:

How does one bet on the “economy will perform worse” market?

Loads of ways. You can short stocks, buy commodity futures and invest in inflation hedges. Depends really on what you mean exactly when you predict the economy will perform worse.

[scottsdad]

Was in Edinburgh this morning and paid £181.9 per litre of diesel. 

Back in Falkirk this afternoon, went to Tesco at Redding and diesel was £190.9 per litre. Ridiculous. 

[RawB93]

2 hours ago, scottsdad said:

Was in Edinburgh this morning and paid £181.9 per litre of diesel. 

Back in Falkirk this afternoon, went to Tesco at Redding and diesel was £190.9 per litre. Ridiculous. 

I don't believe you.

[The Naitch]

2 hours ago, scottsdad said:

Was in Edinburgh this morning and paid £181.9 per litre of diesel. 

Back in Falkirk this afternoon, went to Tesco at Redding and diesel was £190.9 per litre. Ridiculous. 

Crikey.

[DA Baracus]

4 hours ago, scottsdad said:

Was in Edinburgh this morning and paid £181.9 per litre of diesel. 

Back in Falkirk this afternoon, went to Tesco at Redding and diesel was £190.9 per litre. Ridiculous. 

I've heard prices are bad, and admittedly I don't keep up with fuel prices since I don't drive, but things must be even worse than feared if it's that expensive.

Edited June 10, 2022 by DA Baracus

[Benjamin_Nevis]

Hats off though to long-term rip-off merchants, the Cluanie Inn on the road to Skye 

[Todd_is_God]

The price of petrol is shooting up at fucking ridiculous rate. My local Tesco was 171.9p on Monday - today it was 181.9p

There's no reason at all I can see for such a rise and it's absolutely unsustainable. I'm not really sure either, though, that there is too much the UK Gov can do about the price private companies charge for a commodity.

[Todd_is_God]

On 09/06/2022 at 18:09, Crazy Days said:

Price cap for energy going to be revised on a 3 monthly basis.  Likely to be 4 increases per years now!

The current projection is a 1% rise in January and a 10% drop in April.

There is a reason why energy companies are putting fixed price tariff early exit fees up to around £300 per fuel, and it's not because they expect there are going to be 4 increases next year.

[scottsdad]

14 hours ago, DA Baracus said:

I've heard prices are bad, and admittedly I don't keep up with fuel prices since I don't drive, but things must be even worse than feared if it's that expensive.

Fuel in the Falkirk area is always a little more expensive than elsewhere. I usually fill up in Alloa when visiting my folks as it is usually a penny or two cheaper there. Happened to be in Edinburgh yesterday and went to the Morrisons at the Gyle. Again, Edinburgh is often cheaper by a little. 

Got a shock when I saw just how much it was in Redding. The Esso garage at Rumford had diesel at 189.9 per litre. Says something when Esso is cheaper than Tesco. 

[Bairnardo]

Fuel in the Falkirk area is always a little more expensive than elsewhere. I usually fill up in Alloa when visiting my folks as it is usually a penny or two cheaper there. Happened to be in Edinburgh yesterday and went to the Morrisons at the Gyle. Again, Edinburgh is often cheaper by a little. 
Got a shock when I saw just how much it was in Redding. The Esso garage at Rumford had diesel at 189.9 per litre. Says something when Esso is cheaper than Tesco. 

It makes all sorts of sense, of course, that the closer you are to a large refinery, the more expensive petrol would be....

[scottsdad]

14 hours ago, RawB93 said:

I don't believe you.

I was puzzling over this when I re read my original post. 

Won't be long till we are at £200 a litre 

[Jacksgranda]

5 minutes ago, scottsdad said:

I was puzzling over this when I re read my original post. 

Won't be long till we are at £200 a litre 

I'll be able to buy a litre once a fortnight after my pension comes in.

[GTG_03]

On 09/06/2022 at 23:26, Clown Job said:

Source?

I could see massive civil unrest if this happens 

Lol. If you mean lots of moaning on social media and absolutely no action then yes I agree. 

[Benjamin_Nevis]

I got invited to a Facebook group called "UK Fuel Action". It appears to be a 20,000+ strong herding pen for H_B style moonhowlers obsessed over the NWO, racist cretins whining about immigrants and fat truck drivers bemoaning woke culture and electric vehicles.

A nice little microcosm as to why "Britons", despite years of laughing at the French for being spineless surrender monkeys, will simply roll over and let big business tickle their bellies, whilst the French would be setting stuff on fire and scaring the shite out of their political leaders.