Back to the bad old days of the 1990s as recession looms for UK – Inflation is set to jump to 9% this week when official figures are released, and fears of a slump are growing
Back to the bad old days of the 1990s as recession looms for UK – Inflation is set to jump to 9% this week when official figures are released, and fears of a slump are growing
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This government is amazing.
I wish this sub had a list of the words that get your comments auto shadowbanned. This thread already has an active comment count and none of them are visible.
Thank god we avoided the chaos of Ed Miliband/Jeremy Corbyn
If the rate of inflation keeps going up by 1% every few weeks, we are going to be looking at 20% by the end of the year.
I’m not saying that will happen, I can’t claim to have any idea. But the drivers – Brexit, Ukraine, Covid among others – aren’t going anywhere soon.
Austerity 2: This Time It’s Personal.
Nothing makes my belly fizz like my third once-in-a-lifetime financial crisis at 30 years old.
Ooooh my 1.5% pay increase is really going to make a dent in that. Can’t wait to be a couple of grand worse off
Only a matter of time before we start to see interest rates on savings accounts catch up, right…
I believe it was around 19% under Thatcher… a way to go yet.
Queue the Spice Girls music.
Wage growth has stalled – wages have fallen, prices have risen and profits has soared. Windfall tax please.
Fears of a slump? What the heck do they think we are living through right now? FFS
Fears? It’s already started.
It feels like we are in a bit of a perfect storm and I personally think things will get a lot worse before they improve.
Both main parties seem more interested in arguing about lockdown “beer parties” and protecting their leaders than knuckling down and sorting out the immediate issues at hand.
The sheer amount of horrendous stuff the government has done over the last 11 years, including recently breaking the law and being fined for it and still, people want to vote for them.
*The right wing media* truly has our populace under thrall. I don’t see things getting better until this changes.
On the topic of inflation – it’s going to get worse. Food supplies from Ukraine are held up with the fighting, and other producers like India and Africa (grain, wheat) are struggling to retool to take up the slack. Expect prices for common household goods to rise.
Oh yes and the Canadian housing market is widely reported to be on the edge of a meltdown, and Evergreen has defaulted on it’s interest payments for the third time in a row, and somehow Moodys hasn’t rated them D for Default to avoid annoying the Chinese. There are multitudes of banks in America that are leveraged up to the hilt with unleasable, undesirable commercial properties in tranches that are stupidly bad in terms of converting into liquidity. Expect a major recession to hit soon as the margin calls go in.
Happy Monday everybody!
Inflation is already over 9%; they’re lying. Without being alarmist, our kleptocratic political system is pushing us into a depression.
The never ending hurdle race. Its never ending.
The RPI already hit 9% a month ago.
Good old bust and bust economics.
Will of the people.
The stupid pleb mass wanted this. They got it.
Congratulations wrexiters. Brilliant work.
bad old days?
The worse of the early 90’s was far far better than even the best days of the last decade on every level and by every metric.
The amount of money spent in the government’s CHOSEN response to covid was equal to WWII spending.
Goes without saying that hasn’t helped matters. I was against most of the government’s actions after the first lockdown.
That is what people have repeatedly voted for…