Everyone is suffering. Even those living below their means will be saving less during this time and have the possibility of losing their job.
To be fair he’s just being more honest than most economists.
Noone can truly control the economy.
Of course he doesn’t, this is waaaaay above his pay grade. I think he’s done great in getting the awareness out there and having info for people on where they can get help but this is far beyond anything he or his organisation can deal with.
Gotta admit, finding out Keir Starmer is on a variable-rate mortgage isn’t something I expected today. Who says he’s not a thrill-seeker?!
Not surprising, economy is in bits because of Covid, cost of living crisis, cost of fuel and the war in Ukraine. We need calm heads but Trussed and Kamakwasi’s solution is to go on a binge and max out the credit cards!!!!!!
No wonder he is throwing up his hands and shaking his head!
Why would he have an answer, he’s not an economist, never has been, even reminded the same interviewer numerous times of that a few weeks back…
I don’t know why viewers would be stunned by that. He’s VERY good at helping people save money and he’s good at explaining some of the more complicated topics to laypeople like me but he’s not the person to fix this.
Man who isn’t economist doesn’t have answer to economy shocker.
He’s very clear about what he can and can’t offer advice on, and even in that domain he was admitting that things are that dismal he’s out of tricks six months ago.
This touches upon a really interesting paradox.
We want leaders who know what they are doing.
But the nature of really complex problems is that no one, definitely not one person, is able to say for sure they can solve them.
Usually, when we solve such problems we accept that we don’t know stuff and will improve through trial and error.
But in govt, we expect people just to have the answers. And a politician would be eviscerated for saying, I don’t know, let’s try this and change if it doesn’t work.
Let alone – lets do something we know isn’t right, but is more right than what we have now and build on that.
Sod it, most businesses can’t do that.
Nobody had an answer because nobody knows what the fuck is happening or where we’ll be in a year.
That’s a bit of a tall expectation to have of Lewis, a journalist.
He’s a journalist who is ***very*** good at explaining the economics of day-to-day life to people.
However, very little of what he says is earth shattering, to me at least.
If someone is stunned, you’ve not been paying attention to the last 3 years at least 🙁
I wonder how pissed-off Lewis gets with these “SEO Journalists” using his name to leverage their articles.
Lewis’ expertise isn’t macro-economics. His expertise is household finances.
He’s been saying this for months
The BBC’s Newscast podcast have been using a clip of him saying that in their intro since the Summer
It’s not shocking, this man depends on there being options and variables in the markets to be able to help people but we are in the end game now for uk energy, most companies have gone bust and disappeared so what do people expect of him?
If Martin Lewis has no answer, we are doomed. Doomed I tell ya!!
People are fucked. Really really fucked.
* Mortgage payments are going to be higher, rents will follow from BTL landlords
* Food, clothing, electronics, fuel, anything that’s imported is going to cost more
* Government borrowing costs have increased which means future taxpayers will have a greater burden to pay off the debt they’re taking on to give a huge tax cut to the rich
* People’s pensions could be wiped out
* As fuel will cost more due to the exchange rate, the cost of maintaining the new price cap will be far higher, which also burdens future taxpayers even more
* If they don’t back out of all of this, then they’re expected to have no choice but to massively cut spending on public services. It will be worse than Cameron’s austerity.
And what do the people who suffer the most get? A 1% tax cut with an average annual saving of £130. Nowhere near enough to make up for the amount of damage that’s been done.
From all of this we’re expected to get a boost of 0.1% to GDP. Britain may be slightly richer, but most British people will be a lot poorer.
Poor old Martin Lewis probably feels like a hospital consultant telling someone they have untreatable cancer at this point.
“Go home and prepare to die, there is nothing you can do but enjoy the time you have left”.
I suspect he can’t really say the solution is to reverse what the government just did in term of tax cuts, raise tax though windfall taxes on energy companies.
Sack the leader of the Conservative party so they can be replaced by sombody competent & hold a general election.
That’s Starmer’s job
He’s staying out of the fight because he would be smeared for saying it but I’m sure Martin knows the answer to all of this.
I don’t really know too much about Martin Lewis. He seems to be held in fairly high regard. But the only time I *ever* see his name, it is invariably attached to some clickbaity bullshit headline. Like this one. Stuns? Really?
I’d be more stunned if he insisted he did have an answer
There’s no answer because it’s intentional on pretty much every level.
I honestly thought this was a Daily Mash headline at first.
I’m not one for protesting, but I seriously am considering marching down to London, this is ridiculous. Get her and the tories out of power before the revolt begins, it’s sure as hell going to get bad this winter.
Reversing the mini budget would also spook the markets. What an absolute mess we are in.
In the words of Theoden “What can men do against such reckless hate?”
of course not, you can’t thrift and switch through economic collapse. there’s no savings account that can withstand capitalisms death throes
Not really sure why this is a stunning revelation. He’s not a genius. He’s good at what he does, sure, but at least he says “sorry, I don’t know” when he can’t answer something instead of making shit up as he goes along like the current government.
He knows how to shop around for a good deal, it’s not surprising he can’t find all the answers on compare the meerkat
I feel for him in a way. He’s done so much to try and help people manage their money and indeed save hundreds if not thousands of pounds. He’s used every trick in the book for people of late but there’s only so much trimming down and tricks you can use when presented with an economic catastrophy of this scale. I recall he took a break from social media for his own mental health. When you’re constantly in the position of trying to help others, when you’re unable to do more and people still look to you for guidance it’s a heavy burden to bare for one person.
What do you expect him to do, he specialises in finance advice not stopping corrupt politicians
33 comments
That’s kind of the point of a financial crisis.
Everyone is suffering. Even those living below their means will be saving less during this time and have the possibility of losing their job.
To be fair he’s just being more honest than most economists.
Noone can truly control the economy.
Of course he doesn’t, this is waaaaay above his pay grade. I think he’s done great in getting the awareness out there and having info for people on where they can get help but this is far beyond anything he or his organisation can deal with.
Gotta admit, finding out Keir Starmer is on a variable-rate mortgage isn’t something I expected today. Who says he’s not a thrill-seeker?!
Not surprising, economy is in bits because of Covid, cost of living crisis, cost of fuel and the war in Ukraine. We need calm heads but Trussed and Kamakwasi’s solution is to go on a binge and max out the credit cards!!!!!!
No wonder he is throwing up his hands and shaking his head!
Why would he have an answer, he’s not an economist, never has been, even reminded the same interviewer numerous times of that a few weeks back…
I don’t know why viewers would be stunned by that. He’s VERY good at helping people save money and he’s good at explaining some of the more complicated topics to laypeople like me but he’s not the person to fix this.
Man who isn’t economist doesn’t have answer to economy shocker.
He’s very clear about what he can and can’t offer advice on, and even in that domain he was admitting that things are that dismal he’s out of tricks six months ago.
This touches upon a really interesting paradox.
We want leaders who know what they are doing.
But the nature of really complex problems is that no one, definitely not one person, is able to say for sure they can solve them.
Usually, when we solve such problems we accept that we don’t know stuff and will improve through trial and error.
But in govt, we expect people just to have the answers. And a politician would be eviscerated for saying, I don’t know, let’s try this and change if it doesn’t work.
Let alone – lets do something we know isn’t right, but is more right than what we have now and build on that.
Sod it, most businesses can’t do that.
Nobody had an answer because nobody knows what the fuck is happening or where we’ll be in a year.
That’s a bit of a tall expectation to have of Lewis, a journalist.
He’s a journalist who is ***very*** good at explaining the economics of day-to-day life to people.
However, very little of what he says is earth shattering, to me at least.
If someone is stunned, you’ve not been paying attention to the last 3 years at least 🙁
I wonder how pissed-off Lewis gets with these “SEO Journalists” using his name to leverage their articles.
Lewis’ expertise isn’t macro-economics. His expertise is household finances.
He’s been saying this for months
The BBC’s Newscast podcast have been using a clip of him saying that in their intro since the Summer
It’s not shocking, this man depends on there being options and variables in the markets to be able to help people but we are in the end game now for uk energy, most companies have gone bust and disappeared so what do people expect of him?
If Martin Lewis has no answer, we are doomed. Doomed I tell ya!!
People are fucked. Really really fucked.
* Mortgage payments are going to be higher, rents will follow from BTL landlords
* Food, clothing, electronics, fuel, anything that’s imported is going to cost more
* Government borrowing costs have increased which means future taxpayers will have a greater burden to pay off the debt they’re taking on to give a huge tax cut to the rich
* People’s pensions could be wiped out
* As fuel will cost more due to the exchange rate, the cost of maintaining the new price cap will be far higher, which also burdens future taxpayers even more
* If they don’t back out of all of this, then they’re expected to have no choice but to massively cut spending on public services. It will be worse than Cameron’s austerity.
And what do the people who suffer the most get? A 1% tax cut with an average annual saving of £130. Nowhere near enough to make up for the amount of damage that’s been done.
From all of this we’re expected to get a boost of 0.1% to GDP. Britain may be slightly richer, but most British people will be a lot poorer.
Poor old Martin Lewis probably feels like a hospital consultant telling someone they have untreatable cancer at this point.
“Go home and prepare to die, there is nothing you can do but enjoy the time you have left”.
I suspect he can’t really say the solution is to reverse what the government just did in term of tax cuts, raise tax though windfall taxes on energy companies.
Sack the leader of the Conservative party so they can be replaced by sombody competent & hold a general election.
That’s Starmer’s job
He’s staying out of the fight because he would be smeared for saying it but I’m sure Martin knows the answer to all of this.
I don’t really know too much about Martin Lewis. He seems to be held in fairly high regard. But the only time I *ever* see his name, it is invariably attached to some clickbaity bullshit headline. Like this one. Stuns? Really?
I’d be more stunned if he insisted he did have an answer
There’s no answer because it’s intentional on pretty much every level.
I honestly thought this was a Daily Mash headline at first.
I’m not one for protesting, but I seriously am considering marching down to London, this is ridiculous. Get her and the tories out of power before the revolt begins, it’s sure as hell going to get bad this winter.
Reversing the mini budget would also spook the markets. What an absolute mess we are in.
In the words of Theoden “What can men do against such reckless hate?”
of course not, you can’t thrift and switch through economic collapse. there’s no savings account that can withstand capitalisms death throes
Not really sure why this is a stunning revelation. He’s not a genius. He’s good at what he does, sure, but at least he says “sorry, I don’t know” when he can’t answer something instead of making shit up as he goes along like the current government.
He knows how to shop around for a good deal, it’s not surprising he can’t find all the answers on compare the meerkat
I feel for him in a way. He’s done so much to try and help people manage their money and indeed save hundreds if not thousands of pounds. He’s used every trick in the book for people of late but there’s only so much trimming down and tricks you can use when presented with an economic catastrophy of this scale. I recall he took a break from social media for his own mental health. When you’re constantly in the position of trying to help others, when you’re unable to do more and people still look to you for guidance it’s a heavy burden to bare for one person.
What do you expect him to do, he specialises in finance advice not stopping corrupt politicians
He does. He just isn’t allowed to say it openly.
I’ll say it for him in three words.
Fucking. Remove. Tories.