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Post by oldie on Nov 3, 2022 12:24:28 GMT
Ouch! "The Bank of England has unveiled the biggest interest hike for 30 years as it seeks to tame double-digit inflation. The rate rose by 0.75 percentage points to a fresh 14-year high of 3%." It ain't nuffink. Back in 1978 it was over 12% |
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Post by stuart1974 on Nov 3, 2022 12:28:55 GMT
Ouch! "The Bank of England has unveiled the biggest interest hike for 30 years as it seeks to tame double-digit inflation. The rate rose by 0.75 percentage points to a fresh 14-year high of 3%." It ain't nuffink. Back in 1978 it was over 12% True, but these increases are going to hurt regardless of historical rates. |
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Post by oldie on Nov 3, 2022 12:37:02 GMT
It ain't nuffink. Back in 1978 it was over 12% True, but these increases are going to hurt regardless of historical rates. We was tough back in those days mind. 😂😂 Seriously though, it was bloody bleak living in the UK back then. |
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Post by gulfofaden on Nov 3, 2022 13:19:01 GMT
UK national debt has more than doubled from 1 Trillion to over 2 Trillion since 2010 ( Tories take power 🙄) . All public services have been absolutely decimated. Spend more to get far far less ! . Yet still the right wing voting loons have the brass neck to say the left are wasteful and can’t be trusted with the economy. It’s not that they can’t be trusted, it’s that they don’t understand it. As you clearly don’t. You’re also can’t have a conversation on politics without getting obnoxious and antagonistic. Seek to understand, then to be understood. The way you approach these discussions is extremely childish, and that goes for most of the others on here. Bullies, essentially. Which is one of the reasons you shouldn’t ever be allowed to run things, you have all the answers for questions you don’t understand. |
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Post by gasandelectricity on Nov 3, 2022 13:29:00 GMT
Ouch! "The Bank of England has unveiled the biggest interest hike for 30 years as it seeks to tame double-digit inflation. The rate rose by 0.75 percentage points to a fresh 14-year high of 3%." It ain't nuffink. Back in 1978 it was over 12% Maybe. But house prices as a proportion of income are twice what they used to be. So the 12% then is less painful than what 12% would be today. Mortgage payments as a % of income is going through the roof and becoming unbearable for many. www.economicshelp.org/blog/5568/housing/uk-house-price-affordability/ |
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Post by trevorgas on Nov 3, 2022 13:29:24 GMT
True, but these increases are going to hurt regardless of historical rates. We was tough back in those days mind. 😂😂 Seriously though, it was bloody bleak living in the UK back then. Very true Remember as a junior in Lloyds Yate Branch having to light and put up gas hurricane lamps to light the branch after 3pm due to power cuts,imagine Elf&Safety now allowing that😊😊 |
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Post by fintanstack on Nov 3, 2022 13:31:41 GMT
UK national debt has more than doubled from 1 Trillion to over 2 Trillion since 2010 ( Tories take power 🙄) . All public services have been absolutely decimated. Spend more to get far far less ! . Yet still the right wing voting loons have the brass neck to say the left are wasteful and can’t be trusted with the economy. It’s not that they can’t be trusted, it’s that they don’t understand it. As you clearly don’t. You’re also can’t have a conversation on politics without getting obnoxious and antagonistic. Seek to understand, then to be understood. The way you approach these discussions is extremely childish, and that goes for most of the others on here. Bullies, essentially. Which is one of the reasons you shouldn’t ever be allowed to run things, you have all the answers for questions you don’t understand. The problem is cuts always come in all the wrong places. Doctors and consultants are well paid, frequently working part-time for the NHS. There are too many senior managers and not enough HCAs and nurses. Simple things like good building management services are all outsourced to the private sector which do not provide good value for money. Heating, lighting, food, cleaning are all things that used to be done in house, providing much better value for money. There are lots of cuts that could be made while improving services but there is no will to do this at government level. |
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Post by oldie on Nov 3, 2022 13:54:08 GMT
UK national debt has more than doubled from 1 Trillion to over 2 Trillion since 2010 ( Tories take power 🙄) . All public services have been absolutely decimated. Spend more to get far far less ! . Yet still the right wing voting loons have the brass neck to say the left are wasteful and can’t be trusted with the economy. It’s not that they can’t be trusted, it’s that they don’t understand it. As you clearly don’t. You’re also can’t have a conversation on politics without getting obnoxious and antagonistic. Seek to understand, then to be understood. The way you approach these discussions is extremely childish, and that goes for most of the others on here. Bullies, essentially. Which is one of the reasons you shouldn’t ever be allowed to run things, you have all the answers for questions you don’t understand. Oh come on. |
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Post by baggins on Nov 3, 2022 14:01:57 GMT
UK national debt has more than doubled from 1 Trillion to over 2 Trillion since 2010 ( Tories take power 🙄) . All public services have been absolutely decimated. Spend more to get far far less ! . Yet still the right wing voting loons have the brass neck to say the left are wasteful and can’t be trusted with the economy. It’s not that they can’t be trusted, it’s that they don’t understand it. As you clearly don’t. You’re also can’t have a conversation on politics without getting obnoxious and antagonistic. Seek to understand, then to be understood. The way you approach these discussions is extremely childish, and that goes for most of the others on here. Bullies, essentially. Which is one of the reasons you shouldn’t ever be allowed to run things, you have all the answers for questions you don’t understand. Remind us all where you live and earn your money again? |
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Post by oldie on Nov 3, 2022 14:05:29 GMT
It ain't nuffink. Back in 1978 it was over 12% Maybe. But house prices as a proportion of income are twice what they used to be. So the 12% then is less painful than what 12% would be today. Mortgage payments as a % of income is going through the roof and becoming unbearable for many. www.economicshelp.org/blog/5568/housing/uk-house-price-affordability/True, to a degree. A couple of factors to consider. 1. Public Sector house building reached a peak in 1979 and the collapsed with the advent of Thatcherism. 2. Thatcher then sold off the existing public sector housing stock without replacing it. So did Labour after 1997. 3. Real incomes have largely stagnated since 2008. Do you see the link? |
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Post by oldie on Nov 3, 2022 14:08:30 GMT
It’s not that they can’t be trusted, it’s that they don’t understand it. As you clearly don’t. You’re also can’t have a conversation on politics without getting obnoxious and antagonistic. Seek to understand, then to be understood. The way you approach these discussions is extremely childish, and that goes for most of the others on here. Bullies, essentially. Which is one of the reasons you shouldn’t ever be allowed to run things, you have all the answers for questions you don’t understand. Remind us all where you live and earn your money again? More to the point is labelling others bullies and childish whilst making the exact same posts he criticises others for. |
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Post by gulfofaden on Nov 3, 2022 14:12:09 GMT
It’s not that they can’t be trusted, it’s that they don’t understand it. As you clearly don’t. You’re also can’t have a conversation on politics without getting obnoxious and antagonistic. Seek to understand, then to be understood. The way you approach these discussions is extremely childish, and that goes for most of the others on here. Bullies, essentially. Which is one of the reasons you shouldn’t ever be allowed to run things, you have all the answers for questions you don’t understand. Remind us all where you live and earn your money again? United Kingdom. What’s happening here is the above poster is picking on personal details to try to discredit them, because they identify with a different political tribe and as such, rather than address any of the arguments, criticise the individuals credibility instead. Definitely the good guys, not the bullies, right? |
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Post by peterparker on Nov 3, 2022 14:13:34 GMT
We are going to have the longest recession for decades.
Solution, increase interest rates and make it worse
All things being equal, due to how inflation is measured inflation will likely be significantly lower come March next year, so Interest rates as a tool to 'help' are doing what exactly by extracting more money out of people's pockets....
Not against the interest rise returning to a more normal level, but should have happened slower over time when we had a period of growth (fix the roof when the sun shines) etc. the fact that growth has been low/stagnant for ages....
How could we create growth. A radical idea, but public sector improvements.....
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Post by gulfofaden on Nov 3, 2022 14:17:18 GMT
Remind us all where you live and earn your money again? More to the point is labelling others bullies and childish whilst making the exact same posts he criticises others for. You can add “vindictive liar” to “bullies”. |
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Post by oldie on Nov 3, 2022 14:23:50 GMT
More to the point is labelling others bullies and childish whilst making the exact same posts he criticises others for. You can add “vindictive liar” to “bullies”. Wow, you certainly have a bit of an attitude don't you. Were you bullied as a kid? |
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Post by oldie on Nov 3, 2022 14:26:47 GMT
Remind us all where you live and earn your money again? United Kingdom. What’s happening here is the above poster is picking on personal details to try to discredit them, because they identify with a different political tribe and as such, rather than address any of the arguments, criticise the individuals credibility instead. Definitely the good guys, not the bullies, right? Who is that then? |
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Post by fintanstack on Nov 3, 2022 15:00:01 GMT
More to the point is labelling others bullies and childish whilst making the exact same posts he criticises others for. You can add “vindictive liar” to “bullies”. You chastise those ("most") who debate in a childish way here then follow up with name calling? I guess this is a reflection of modern politics where debate and common ground are seldom sought or found. |
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Post by gulfofaden on Nov 3, 2022 15:02:40 GMT
You can add “vindictive liar” to “bullies”. You chastise those ("most") who debate in a childish way here then follow up with name calling? I guess this is a reflection of modern politics where debate and common ground are seldom sought or found. That’s not name calling. There is inherent meaning in those words. |
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Post by yattongas on Nov 3, 2022 15:03:52 GMT
UK national debt has more than doubled from 1 Trillion to over 2 Trillion since 2010 ( Tories take power 🙄) . All public services have been absolutely decimated. Spend more to get far far less ! . Yet still the right wing voting loons have the brass neck to say the left are wasteful and can’t be trusted with the economy. It’s not that they can’t be trusted, it’s that they don’t understand it. As you clearly don’t. You’re also can’t have a conversation on politics without getting obnoxious and antagonistic. Seek to understand, then to be understood. The way you approach these discussions is extremely childish, and that goes for most of the others on here. Bullies, essentially. Which is one of the reasons you shouldn’t ever be allowed to run things, you have all the answers for questions you don’t understand. Oh do f**k off you pompous twat 🙄 |
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Post by gulfofaden on Nov 3, 2022 15:09:37 GMT
We are going to have the longest recession for decades. Solution, increase interest rates and make it worse All things being equal, due to how inflation is measured inflation will likely be significantly lower come March next year, so Interest rates as a tool to 'help' are doing what exactly by extracting more money out of people's pockets.... Not against the interest rise returning to a more normal level, but should have happened slower over time when we had a period of growth (fix the roof when the sun shines) etc. the fact that growth has been low/stagnant for ages.... How could we create growth. A radical idea, but public sector improvements..... That’s not how monetary policy works unfortunately! They aren’t going to return to a “normal” level as there is no such thing as a normal interest rate. Interest rates are going up to dampen inflation. Most of which is caused by the war in Ukraine and the covid CB balance sheet expansion. |
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