Cost of living crisis.

[st albans fox]

8 hours ago, grobyfox1990 said:

Most of this will be scrapped within the year I reckon. These people are living in cloud cuckoo land, you'd think we're a high growth, dynamic country looking at whats been announced today. No wonder markets are twisting the knife on our currency and debt. Checking bbg today and market consensus is the pound still isnt considered cheap, we are at $1.11!!!!!!!!!!!!!!!!!!!!

1-09 just …..

EDIT:   1-08

Edited 23 September 2022 by st albans fox

[chapero82]

People are predicting that the housing market will crash 40% do you guy think this will happen?

[Julian Joachim Jr Shabadoo]

1 hour ago, chapero82 said:

People are predicting that the housing market will crash 40% do you guy think this will happen?

 

Bloody hope so, then I can finally afford somewhere in Quorn!

[FoxesWalk]

1 hour ago, chapero82 said:

People are predicting that the housing market will crash 40% do you guy think this will happen?

Not by that much imo. They will inevitably fall as interest rates rise though, they have to unless supply side changes significantly. If anything, in the short term the cut in stamp duty might raise prices. Anyone coming up to remortgage in the next 3 years or so is in for a shock though. Prices in the south in particular are unsustainable with likely rising interest rates unless wages start to rise significantly.
 

Markets are pricing in BoE base interest rate hitting 5.5% next year. Lots of people will be on fixed rates of 1-2%, when those fixed rates end they could be ****ed, forced to sell, then prices will start to fall fairly significantly. Lots of people who bought in last 10 years (me included) won’t be prepared for the big increases in mortgage payments coming if we remain on the current path. 

[Otis]

2 hours ago, chapero82 said:

People are predicting that the housing market will crash 40% do you guy think this will happen?

Really depends who you ask and what vested interest they have. 

Personally I predict a 10-15% drop over the next 2 years. 

[grobyfox1990]

3 hours ago, st albans fox said:

1-09 just …..

EDIT:   1-08

It’s madness. A bloodbath. Parity by the end of the year is looking a good bet…

[st albans fox]

5 minutes ago, grobyfox1990 said:

It’s madness. A bloodbath. Parity by the end of the year is looking a good bet…

I’d be astonished 

but then again I never saw a fall to 1-08 as being feasible 

 

at some point the yanks will have to do something about usd strength because it will begin to harm their exports. but I can the G7 asking them to do it before they decide they need to 

[leicsmac]

10 hours ago, Fazzer 7 said:

I think they are deliberately crashing the economy. Like Uncle Klaus told us. You will own nothing...

 

7 hours ago, Otis said:

...And you will be happy 

Where do they sell such fetching tinfoil hats? Very stylish.

 

Hanlon's Razor, guys. "never attribute to malice that which is adequately explained by stupidity."

 

No need for a conspiracy when the folks in charge could more easily be merely stupid and short-sighted.

[Fazzer 7]

14 hours ago, Otis said:

...And you will be happy 

I bloody won’t 😭

[Fazzer 7]

7 hours ago, leicsmac said:

 

Where do they sell such fetching tinfoil hats? Very stylish.

 

Hanlon's Razor, guys. "never attribute to malice that which is adequately explained by stupidity."

 

No need for a conspiracy when the folks in charge could more easily be merely stupid and short-sighted.

You underestimate them. 

[leicsmac]

23 minutes ago, Fazzer 7 said:

You underestimate them. 

Oh, I fully understand the potential for such machinations among the more powerful.

 

I just think that as much as they desire control there are and always will be things beyond their control and that while a lot of the bad that goes on is down to targeted malicious acts (USA post-2016, for instance), a lot more of it is down to people either screwing up or simply not caring.

[Daggers]

8 hours ago, leicsmac said:

 

Where do they sell such fetching tinfoil hats? Very stylish.

 

Hanlon's Razor, guys. "never attribute to malice that which is adequately explained by stupidity."

 

No need for a conspiracy when the folks in charge could more easily be merely stupid and short-sighted.

While you can apply the razor for the majority of the cabinet, the same can’t be said for those who are actually driving this ideology - and stand to profit from it. 
 

The IEA doesn’t disclose its funding, but they get their money and directions from the petrochemical industry and disaster capitalist “libertarian” billionaires (among others). These people and companies stand to benefit from Britain being pushed back to the Dark Ages. 

[leicsmac]

2 minutes ago, Daggers said:

While you can apply the razor for the majority of the cabinet, the same can’t be said for those who are actually driving this ideology - and stand to profit from it. 
 

The IEA doesn’t disclose its funding, but they get their money and directions from the petrochemical industry and disaster capitalist “libertarian” billionaires (among others). These people and companies stand to benefit from Britain being pushed back to the Dark Ages. 

See above - there's certainly malicious intent, but I'm not inclined to see it in the form of ridiculous "agenda 2030" assertions or whatever that have been mentioned recently in this thread.

 

I'd rather stick to something that is actually verifiable, which as you state, does include some people looking to manipulate the market for their own ends, as opposed to some grand unified conspiracy involving some shadowy cabal.

[Fazzer 7]

21 minutes ago, Daggers said:

While you can apply the razor for the majority of the cabinet, the same can’t be said for those who are actually driving this ideology - and stand to profit from it. 
 

The IEA doesn’t disclose its funding, but they get their money and directions from the petrochemical industry and disaster capitalist “libertarian” billionaires (among others). These people and companies stand to benefit from Britain being pushed back to the Dark Ages. 

Bill Gates?

[Livid]

13 hours ago, chapero82 said:

People are predicting that the housing market will crash 40% do you guy think this will happen?

I saw some estate agent going on about this in TikTok. 
 

His very next video was praising how the stamp duty cut would help people get on the property ladder……and get caught in massive negative equity for years if his last video was to be believed. 

[Livid]

Moral arguments aside. 
 

I don’t really care if the top tax rate is 40 or 45%. I wasn’t bothered about the NI cut or the 1% basic income tax reduction. 
 

I am concerned that there just doesn’t seem to be any logic to yesterday. The £ has dropped against the $. Financial institutions around the world aren’t buying into it. 

We’re borrowing even more on some rabid Tory boy’s reckless gamble. 
 

 

[chapero82]

Brexit ruined us in so many ways 

[Daggers]

[Dahnsouff]

Let the market settle for a few days, they are volatile but they will resettle

[urban.spaceman]

3 hours ago, Livid said:

Moral arguments aside. 
 

I don’t really care if the top tax rate is 40 or 45%. I wasn’t bothered about the NI cut or the 1% basic income tax reduction. 
 

I am concerned that there just doesn’t seem to be any logic to yesterday. The £ has dropped against the $. Financial institutions around the world aren’t buying into it. 

We’re borrowing even more on some rabid Tory boy’s reckless gamble. 
 

 

Oh there was plenty of logic. You’re just expecting too much competence from them.

 

They’re not idiots making mistakes. They’re actively sinister people pilfering as much as they can for themselves and their dodgy mates  while they have the chance. 

[urban.spaceman]

This is the part of a heist film where everything has gone wrong and the idiots of the crew are trying to gather up as much loot as possible while they make their escape.

[Parafox]

On 22/09/2022 at 19:29, Tommy G said:

Good news the NI hike back in April has been reversed effective from Nov. Should never of come into effect in the first place 

It's going to cause serious impact on social care resulting in further hospital delays. £30 million less for social care.

[Parafox]

Who here has recently bought warmer clothing in readiness for the coming months and to cut back on heating? 

 

Me, for one.

[Daggers]

The increased cost of living has led to a drastic increase in pets getting abandoned around the UK.
https://www.northamptonchron.co.uk/read-this/cost-of-living-crisis-people-giving-pets-to-rescue-charities-as-they-can-no-longer-afford-to-keep-them-3833029

[Heathrow fox]

16 minutes ago, Daggers said:

The increased cost of living has led to a drastic increase in pets getting abandoned around the UK.
https://www.northamptonchron.co.uk/read-this/cost-of-living-crisis-people-giving-pets-to-rescue-charities-as-they-can-no-longer-afford-to-keep-them-3833029

I mentioned on the Dogs thread that pet food has risen by nearly a third,in what feels like only a little over a year.