Cost of Living Crisis

[Left Back]

5 minutes ago, Anonapersona said:

From the Bank of England.

• there are more job vacancies than there are people to fill them, which means employers are having to offer higher wages to attract job applicants
• businesses are charging more for their products

All of these things pushed prices (and so the rate of inflation) up.

Got a link to that so I can get the context?

[Anonapersona]

3 minutes ago, Left Back said:

Got a link to that so I can get the context?

Sure. There's probably more to it. I'm not an economy person by any stretch.

https://www.bankofengland.co.uk/knowledgebank/will-inflation-in-the-uk-keep-rising

[Left Back]

3 minutes ago, Anonapersona said:

Sure. There's probably more to it. I'm not an economy person by any stretch.

https://www.bankofengland.co.uk/knowledgebank/will-inflation-in-the-uk-keep-rising

So BoE are saying that increased wages due to a labour shortage are having an impact along with several other things which I suppose is fair and valid.  They aren’t saying that will cause a wage price spiral.

Higher demand for labour will typically cause wages to rise, which will have an impact on inflation, but nothing like the level we’re currently seeing.  Other factors are the biggest drivers behind current inflation.

 

[BFTD]

Grr, I really hate this site and its users!

When I find out who's continuing to make me post here, they're for it!  

[Frank Quitely]

3 hours ago, oaksoft said:

 

There's 2 issues here as regards wages.

There's a labour shortage caused by the pandemic and primarily Brexit which results in an unavoidable wage increases to attract staff. This is affecting a relatively small proportion of the workforce as most people stay in their current jobs at any one time.

Then you have the current wave of very high wage increase demands to counter temporarily high inflation. This is problematic because it affects enormous swathes of the workforce.

It's the latter which risk completely destabilising the economy and sending inflation to astronomical levels not seen since the 70s.

 

Really?  In forty years the only two competing forces in the UK economy have been inflation and interest rates, the latter being an increasingly crude tool to control the former.

Nothing like enough regard has been given to structural and geographical imbalances like a desperate reliance on financial services, a grotesque housing market and the overheated South East of England.

Not to mention corruption in the City of London, rampant tax avoidance, soaring inflation in executive pay and dividends, excessive corporate profiteering coupled with chronic underinvestment both in people and infrastructure, never mind industrial-scale Governmental waste with the MoD the star performer, and pork-barrel Covid feasts for the Friends Of The Tories.

But aye, you are bang on, the school cleaners are to blame.

[Theroadlesstravelled]

[Frank Quitely]

11 hours ago, oaksoft said:

Yes, I specifically blamed the cleaners for inflation. 

Jeezo. 

I guess my post went into your 'Too Difficult' folder.

[doulikefish]

Maccy D's raising the price of there cheeseburgers 

[Granny Danger]

31 minutes ago, doulikefish said:

Maccy D's raising the price of there cheeseburgers 

People will be in a McFlurry when they hear that news.

[Salt n Vinegar]

Listening to 5live, the Tories are going to be savaged about energy costs.  A phone-in on the news about expected fuel bills of £4000 - even with the price cap. 

That's a lot of bingo, lattes and sky subscriptions to give up. 

[scottsdad]

3 minutes ago, Salt n Vinegar said:

Listening to 5live, the Tories are going to be savaged about energy costs.  A phone-in on the news about expected fuel bills of £4000 - even with the price cap. 

That's a lot of bingo, lattes and sky subscriptions to give up. 

This is exactly what will cripple the Tories come the election. 

Whenever finances turn to shit, governments lose elections regardless of how much fault they are at. 

[Theroadlesstravelled]

We're 2 years away from a GE. Guaranteed the Government will have fixed it by then and you man in Kettering will have forgotten all about it.

[Clown Job]

45 minutes ago, Theroadlesstravelled said:

We're 2 years away from a GE. Guaranteed the Government will have fixed it by then and you man in Kettering will have forgotten all about it.

Aye but how many will die over the winter because they can’t afford to put the heating on, buy food or both?

 

[BFTD]

49 minutes ago, Theroadlesstravelled said:

We're 2 years away from a GE. Guaranteed the Government will have fixed it by then and you man in Kettering will have forgotten all about it.

Aye, the only thing that did for Boris was that people in his party started to realise that he's completely incapable of doing nothing scandalous for five minutes, never mind an entire election campaign. You have to give the public time to forget how you sold their granny and shagged their wife (and remember that time Labour something something dead bodies in the streets).

[Boo Khaki]

59 minutes ago, Theroadlesstravelled said:

We're 2 years away from a GE. Guaranteed the Government will have fixed it by then and you man in Kettering will have forgotten all about it.

I think that's wishful thinking. If this was a scenario whereby we'd just installed a competent, respectable government, and there was some reason to think the economic situation was going to massively improve in short order, then I'd say yes, it's possible that they could turn this around and come up smelling of roses in time for GE 2024.

But this is the 2022 Tories we're talking about. By the look of things they are about to install a woman with a peanut for a brain as Prime Minister, the party itself stumbles and bumbles from one calamity or scandal to another because of their own incompetence and corruption, and I think factors like Ukraine are not going to become non-factors any time soon.

I genuinely think we are seeing the end of this government, which is why I'm convinced they'll go down the route of turning the next GE into a media-driven culture war, and try to fight the entire campaign on the basis of Starmer not being able to answer 'what is a woman'. It sounds puerile, but I think that's exactly where we're going to end up.

[Granny Danger]

1 hour ago, Boo Khaki said:

I think that's wishful thinking. If this was a scenario whereby we'd just installed a competent, respectable government, and there was some reason to think the economic situation was going to massively improve in short order, then I'd say yes, it's possible that they could turn this around and come up smelling of roses in time for GE 2024.

But this is the 2022 Tories we're talking about. By the look of things they are about to install a woman with a peanut for a brain as Prime Minister, the party itself stumbles and bumbles from one calamity or scandal to another because of their own incompetence and corruption, and I think factors like Ukraine are not going to become non-factors any time soon.

I genuinely think we are seeing the end of this government, which is why I'm convinced they'll go down the route of turning the next GE into a media-driven culture war, and try to fight the entire campaign on the basis of Starmer not being able to answer 'what is a woman'. It sounds puerile, but I think that's exactly where we're going to end up.

We will end up with a right-of-centre Labour government* who will inherit a massive shit show and not have the balls to do what is necessary to address the issues.  They will last one term and the Tories will return more virulent and deranged than ever.

* in all likelihood/hope a minority one dependent upon SNP support.

[O'Kelly Isley III]

1 hour ago, Boo Khaki said:

I think that's wishful thinking. If this was a scenario whereby we'd just installed a competent, respectable government, and there was some reason to think the economic situation was going to massively improve in short order, then I'd say yes, it's possible that they could turn this around and come up smelling of roses in time for GE 2024.

But this is the 2022 Tories we're talking about. By the look of things they are about to install a woman with a peanut for a brain as Prime Minister, the party itself stumbles and bumbles from one calamity or scandal to another because of their own incompetence and corruption, and I think factors like Ukraine are not going to become non-factors any time soon.

I genuinely think we are seeing the end of this government, which is why I'm convinced they'll go down the route of turning the next GE into a media-driven culture war, and try to fight the entire campaign on the basis of Starmer not being able to answer 'what is a woman'. It sounds puerile, but I think that's exactly where we're going to end up.

I think there's a fair amount of truth in that, and what is becoming apparent is the inability of the Tories to bribe their base ahead of a GE.  They can only manage inflation at a cost of spiralling mortgages; they have little control over their Brexit folly, the Ukraine situation is hellish and will sap political energy, and they have no coherent policy on the great crisis of the age, accelerating climate change.  And for good measure they are a party of no-mark incompetents.

But never underestimate the British compulsion for electoral masochism.

[DeeTillEhDeh]

I think there's a fair amount of truth in that, and what is becoming apparent is the inability of the Tories to bribe their base ahead of a GE.  They can only manage inflation at a cost of spiralling mortgages; they have little control over their Brexit folly, the Ukraine situation is hellish and will sap political energy, and they have no coherent policy on the great crisis of the age, accelerating climate change.  And for good measure they are a party of no-mark incompetents.
But never underestimate the British compulsion for electoral masochism.

They'll play the race card again to win working class gammons. Blame the economic crisis on those nasty foreigners.

[Theyellowbox]

6 hours ago, Theroadlesstravelled said:

We're 2 years away from a GE. Guaranteed the Government will have fixed it by then and you man in Kettering will have forgotten all about it.

You are probably very right. By the time the election comes, they will be basking in the line that they have manged to turn around the economy and only they can continue.

Totally ignoring the lies, cheating, burst economy and parriah status in Europe.

Let's be honest, we are a energy price hike away from Nadine Dorries telling us to burn books to stay warm and that socialist woke books burn better.

 

[Mark Connolly]

14 hours ago, Clown Job said:

Aye but how many will die over the winter because they can’t afford to put the heating on, buy food or both?

 

Only the poor people, so the Tory voter base will be fine