Hardly surprising and entirely predictable when people have no money after paying the bills and are paying ever increasing prices for the same food.
Newsflash: if you pay us as little as you can get away with, we can’t afford to buy your shit.
Keep voting blue people! Life will only get better!
Pricks.
Well, when people have to work an hour to afford the food they have on their half hour break, and entire days work for a t shirt means people either have to earn more or spend less. Of those two options, “consumers” only have the power to control the extent of one.
This is what happens when the vision of the United Kingdom by the powers that be are American ~~private~~ public services, Scandinavian taxes, and Greek wages. Unless you’re one of the chosen few. Equality for all under our betters.
Economy: Pound declines to lowest level
Government: Remove bankers bonus caps to attract investment!
Hozahhhhhhhh
Can someone explain to me why I always hear the pound is going down, but against the norwegian krone it seems to have been stable for a couple years?
Or the way it should be phrased, “USD hits new high”.
If you’re worried about the £, have a look over at the € right now.
Ive more or less swapped to 2nd hand. Theres enough stuff out there that is perfectly servicable for a 2nd use. I think even when we’re out of this ill carry on if just for environmental reasons.
Why pay £25 for something I can get in a charity shop for £6 and give to charity?
You do have to think ahead more and yes its not always possible or practical. Id say about 60% of my clothes are charity shop now.
The only time I do real retail shopping down a high street is christmas.
So Cameron saved us from Brown, May saved us from the EU, Boris saved us from Corbyn and Truss will save us from having any income? Why do normal people vote Tory again?
Came to uk when it was a power house, now its a parody on itself. I guess that’s one way of getting immigrants to leave.
Runaway inflation.
Interest rates go up.
Investors move their money to dollars.
Dollar goes up.
Pound to Dollar goes down.
People in cost of living crisis are spending less in retail stores, who would have seen that coming
It’s entirely predictable, as we’ve been running a trade deficit for decades.
That means we import more than we export. So goods come to the UK, and money leaves. As we have less and less money, we have to start cutting back until things reach an equilibrium. A weakening currency is a key way that this equilibrium asserts itself.
We’ve stalled this over the last few decades by selling UK property and assets to foreigh buyers, bringing some more cash into the country. But that’s pushed up property prices, and can only be a temporary salve at best.
The details of it are incredibly complex. But the overall macroeconomics are really simple.
​
We’ve effectively spent the inheritance we got from the 18th and 19th century.
The UK is one of the poorest countries in Europe when you remove London, and we have little manufacturing, resources or export. In the last few years, working class people in the UK have fallen behind those in Western Europe and even in Eastern Europe now. A poor Polish person now has a better quality of life than a poor Brit.
Our wealth is a historic anomaly. We were a poor agrarian society up until the days of the Empire, that made us rich and now we’ve almost spend that wealth, we’ll revert to a poor European country again.
​
We’re now a bit like a trust fund kid that’s spent all their money and is now facing the prospects of needing a job but lacking any skills.
There appears to be no solution for the cost of living crisis and the housing crisis because we don’t have any way of bringing in more cash as a nation. Countries like Germany, China and to and extent the US are able to leverage massive export industries to balance the trade deficit and bring in fresh cash.
The UK doesn’t really have that option. A bit of tourism, some green energy and banking services, but that’s about it.
So we’re spending more than we earn as a nation, and the only logical outcome is that our spending will naturally be curtailed. That’s gonna happen through an ever-weakening currency and the “cost of living crisis” becoming permanent.
A nation like the UK *not* having a cost of living crisis was an economic anomaly of the past couple of centuries.
It’s because the pound is backed by the dollar, which was once backed by gold, but then it became fiat.
Two years ago the Americans introduced infinite money printing.
If you dilute Ribena constantly, it will just taste like water.
The U.S. dollar has risen against most global currencies primarily due to the price of natural resources. The U.S. also does not import too much of its energy.
I’m currently living in Canada and the dollar here has risen against the pound and the euro due to increased demand for Canadian resources.
Isn’t this a good thing? UK is a competitive country. Better for exports. Attracts investments and more jobs for everyone…
Stop fucking ripping us off, then you might start to see people spending money again.
I commented on this before, hate the tories for loads of things but this one? Not really
There is a global recession when that happens the safe bet is the dollar. Add that to them rising interest rates like no tomorrow and you have the perfect storm
It’s up to a 24 year high vs the yen to.
The uk will have keep pace with Interest rises.
In short it’s going to get messy
It’s easy, get Truss to tell the French energy companies to fuck off if they think we’re subsidising the French consumer for their paltry 4% energy cost rise, everybody suddenly has a bit more money and Christmas is back on and the economy stops sliding to oblivion.
Don’t tell the French energy companies to do one, let them push through their 80%+ price rise and watch this Christmas and the retail and hospitality sector basically cease to exist.
It’s not a hard choice Liz….👍
No fucking shit nobody is buying anything.
We can’t afford to live.
Why are British people so insular in their outlook? The global economy is tanking. Industries everywhere are struggling. Every currency is tanking because the US (controllers of the global reserve currency) are raising rates and increasing in value as investors are buying up dollars to minimise risk. But Brits are like nope conservatives caused this. Left and right wing countries are struggling atm. No one is being left off the hook
Underpaying people + raising prices 50%+ = nobody buying
Pound is going to 0.8 to the dollar, mark my words. Might take till mid 2023 but I really believe it’s going to happen sadly for us.
As long as people keep voting the tories in, this is what we’ll get. Unfortunately, when people repeatedly vote against their own interests, despite seeing and suffering the very proof its the wrong choice, yet still keep voting like that, you just can’t help them. They drag us all down with them, but they believe the right-wing media who keep telling them is the right thing to do. They’ll be the end if this country. Useful idiots.
Weird. Its like protecting profit and starving people out of poverty/low income/unemployment isn’t working.
Oh well more tax cuts to justify selling off public services it is then.
Just start tax free shopping again so tourist can come and shop. Now they shop in France and Italy instead
And yet, listening to Radio 4 this morning on the way back from my night shift, University of Essex did a random survey of people in the queue to see the Queen’s coffin
Most were Remainers
Most think people should be allowed to protest the monarchy and have differing views
56% would vote Tory if there was an election tomorrow. Make it make fucking sense.
This is more to do with the dollar gaining such strength against all currencies. International investors are fleeing European and Emerging Market in favour of the USA, a economic haven with decent paying interest. BoE needs to step up the rate hikes next week, although they’ll probably hike a measly 50 basis points
It’s more to do with a low cash rate compared to the US
29 comments
Hardly surprising and entirely predictable when people have no money after paying the bills and are paying ever increasing prices for the same food.
Newsflash: if you pay us as little as you can get away with, we can’t afford to buy your shit.
Keep voting blue people! Life will only get better!
Pricks.
Well, when people have to work an hour to afford the food they have on their half hour break, and entire days work for a t shirt means people either have to earn more or spend less. Of those two options, “consumers” only have the power to control the extent of one.
This is what happens when the vision of the United Kingdom by the powers that be are American ~~private~~ public services, Scandinavian taxes, and Greek wages. Unless you’re one of the chosen few. Equality for all under our betters.
Economy: Pound declines to lowest level
Government: Remove bankers bonus caps to attract investment!
Hozahhhhhhhh
Can someone explain to me why I always hear the pound is going down, but against the norwegian krone it seems to have been stable for a couple years?
Or the way it should be phrased, “USD hits new high”.
If you’re worried about the £, have a look over at the € right now.
Ive more or less swapped to 2nd hand. Theres enough stuff out there that is perfectly servicable for a 2nd use. I think even when we’re out of this ill carry on if just for environmental reasons.
Why pay £25 for something I can get in a charity shop for £6 and give to charity?
You do have to think ahead more and yes its not always possible or practical. Id say about 60% of my clothes are charity shop now.
The only time I do real retail shopping down a high street is christmas.
So Cameron saved us from Brown, May saved us from the EU, Boris saved us from Corbyn and Truss will save us from having any income? Why do normal people vote Tory again?
Came to uk when it was a power house, now its a parody on itself. I guess that’s one way of getting immigrants to leave.
Runaway inflation.
Interest rates go up.
Investors move their money to dollars.
Dollar goes up.
Pound to Dollar goes down.
People in cost of living crisis are spending less in retail stores, who would have seen that coming
It’s entirely predictable, as we’ve been running a trade deficit for decades.
That means we import more than we export. So goods come to the UK, and money leaves. As we have less and less money, we have to start cutting back until things reach an equilibrium. A weakening currency is a key way that this equilibrium asserts itself.
We’ve stalled this over the last few decades by selling UK property and assets to foreigh buyers, bringing some more cash into the country. But that’s pushed up property prices, and can only be a temporary salve at best.
The details of it are incredibly complex. But the overall macroeconomics are really simple.
​
We’ve effectively spent the inheritance we got from the 18th and 19th century.
The UK is one of the poorest countries in Europe when you remove London, and we have little manufacturing, resources or export. In the last few years, working class people in the UK have fallen behind those in Western Europe and even in Eastern Europe now. A poor Polish person now has a better quality of life than a poor Brit.
Our wealth is a historic anomaly. We were a poor agrarian society up until the days of the Empire, that made us rich and now we’ve almost spend that wealth, we’ll revert to a poor European country again.
​
We’re now a bit like a trust fund kid that’s spent all their money and is now facing the prospects of needing a job but lacking any skills.
There appears to be no solution for the cost of living crisis and the housing crisis because we don’t have any way of bringing in more cash as a nation. Countries like Germany, China and to and extent the US are able to leverage massive export industries to balance the trade deficit and bring in fresh cash.
The UK doesn’t really have that option. A bit of tourism, some green energy and banking services, but that’s about it.
So we’re spending more than we earn as a nation, and the only logical outcome is that our spending will naturally be curtailed. That’s gonna happen through an ever-weakening currency and the “cost of living crisis” becoming permanent.
A nation like the UK *not* having a cost of living crisis was an economic anomaly of the past couple of centuries.
It’s because the pound is backed by the dollar, which was once backed by gold, but then it became fiat.
Two years ago the Americans introduced infinite money printing.
If you dilute Ribena constantly, it will just taste like water.
The U.S. dollar has risen against most global currencies primarily due to the price of natural resources. The U.S. also does not import too much of its energy.
I’m currently living in Canada and the dollar here has risen against the pound and the euro due to increased demand for Canadian resources.
Isn’t this a good thing? UK is a competitive country. Better for exports. Attracts investments and more jobs for everyone…
Stop fucking ripping us off, then you might start to see people spending money again.
I commented on this before, hate the tories for loads of things but this one? Not really
There is a global recession when that happens the safe bet is the dollar. Add that to them rising interest rates like no tomorrow and you have the perfect storm
It’s up to a 24 year high vs the yen to.
The uk will have keep pace with Interest rises.
In short it’s going to get messy
It’s easy, get Truss to tell the French energy companies to fuck off if they think we’re subsidising the French consumer for their paltry 4% energy cost rise, everybody suddenly has a bit more money and Christmas is back on and the economy stops sliding to oblivion.
Don’t tell the French energy companies to do one, let them push through their 80%+ price rise and watch this Christmas and the retail and hospitality sector basically cease to exist.
It’s not a hard choice Liz….👍
No fucking shit nobody is buying anything.
We can’t afford to live.
Why are British people so insular in their outlook? The global economy is tanking. Industries everywhere are struggling. Every currency is tanking because the US (controllers of the global reserve currency) are raising rates and increasing in value as investors are buying up dollars to minimise risk. But Brits are like nope conservatives caused this. Left and right wing countries are struggling atm. No one is being left off the hook
Underpaying people + raising prices 50%+ = nobody buying
Pound is going to 0.8 to the dollar, mark my words. Might take till mid 2023 but I really believe it’s going to happen sadly for us.
As long as people keep voting the tories in, this is what we’ll get. Unfortunately, when people repeatedly vote against their own interests, despite seeing and suffering the very proof its the wrong choice, yet still keep voting like that, you just can’t help them. They drag us all down with them, but they believe the right-wing media who keep telling them is the right thing to do. They’ll be the end if this country. Useful idiots.
Weird. Its like protecting profit and starving people out of poverty/low income/unemployment isn’t working.
Oh well more tax cuts to justify selling off public services it is then.
Just start tax free shopping again so tourist can come and shop. Now they shop in France and Italy instead
And yet, listening to Radio 4 this morning on the way back from my night shift, University of Essex did a random survey of people in the queue to see the Queen’s coffin
Most were Remainers
Most think people should be allowed to protest the monarchy and have differing views
56% would vote Tory if there was an election tomorrow. Make it make fucking sense.
This is more to do with the dollar gaining such strength against all currencies. International investors are fleeing European and Emerging Market in favour of the USA, a economic haven with decent paying interest. BoE needs to step up the rate hikes next week, although they’ll probably hike a measly 50 basis points
It’s more to do with a low cash rate compared to the US