Interest rates. Have you ever heard such nonsense

Flippin inflation. I'm getting quite a good income from savings right now in terms of cash but I'm totally aware how little it is compared to inflation - it just rubs in how much my savings devalue each day.

 

Two words 'quantative and 'easing'.

When you print money, you eventually get inflation!

PS don't mention the 'B' word!!

 

“Baz”?

 

Can we mention the £700 Billion of government loans the Tories took to cover Covid 19 and banged into very small part of the economy?

And how that money went offshore or simply super heated our economy - I mean - £700 Billion quid in 2 years might have an affect on an economy, surly?

https://www.huffingtonpost.co.uk/en...ent-spending-boom_uk_5f0890c0c5b63a72c3413817

There are too many articles of Tory party members buying mansions (literally) with Covid money when this government decided to ignore the Crown Commercial frameworks, and apparently many of the suppliers therein, to fastrack millions and millions of pounds into many unsuitable profiteers.

https://www.theguardian.com/world/2...mone-involved-ppe-medpro-government-contracts


No doubt I'll be schooled later by those simply unwilling to see wrongdoing.

No wonder they were having parties - they had a ton of things to celebrate.


But for me - that Covid money is what has smashed the economy.

 

Tory governments eventually implode through infighting between the respective moderate and the loony right wings, but this time they've hoovered up vast amounts of public cash before they go.

Perhaps there'll be a letter left at The Treasury saying "there's no money left, we've schnaffled it all - Cayman Islands here we come......"

 

Same as 2008 - no one did any time, no one will this time either.

The press do their usual suppression - its why they are going after social media harder, they can't control that as much.

 

I agree with everything that has been said about the inflationary impact of quantitative easing, chucking money at CoVid contracts, and Brexit, as well as paying for the furlough scheme. My anger and frustration is the dogmatic adherence to the simplistic and flawed demand side ‘theory’ that states that raising interest rates will curb inflation. The economy is much more complicated than that, and the Bank of England’s model gets it wrong time and time again, as their Chief Economist admitted on 23 May. I could go on and on about this and bore you all to tears but I won’t. The long and short of it is that raising interest rates is punishment for people with mortgages, car loans, credit card debts and all the other borrowings that everyone was encouraged to take out. The wealthy, who don’t need to borrow money, benefit from increased savings rates, increased bond yields, increased dividends all enhanced by the ability to move money offshore to avoid tax. Did you know that due but unpaid tax is estimated to be around £40 billion per year?

 

Hasn’t it been the same throughout history, forever? Don’t think I will ever be wealthy, but I will always be Rich in life.
My father used to tell me, ‘The two roots of evil, is money and religion’, and “there’s always money, in bricks and mortar”.
I’ve got no money to worry about, if that helps…Don’t believe in God’s, either. Too many to choose.
As for inflation…I must check my tyres.

 

Some things never change.
Best position at the moment is probably mortgage paid off, no savings. I came into some money and despite investing it I reckon I'm loosing about £1k/month to inflation. I'm not complaining, I'm sitting pretty, but it's not a cheery thought.

 

I don't think the actions have changed. What has changed is they are now happy to flaunt it in your face and flick the v's. In the past people had the decency to at least be a little ashamed of themselves and be sneaky.

 

Thirteenth consecutive interest rate rise; isn't the definition of insanity doing the same thing over and over and expecting different results? Or is it just stupidity?

 

You don't have as much as you put in - that's the point. Or more accurately what you have even with the interest is now worth less than when you put it there.
I should buy a house but knowing my luck there would then be a housing crash.
...and I don't want a house anyway. Bigger boat maybe.