Inflationn in the UK could be as high as 16% in 2023

[ClaretinBudapest]

It is a good job things are looking good on the pitch because off it they are starting to look disastous:-

https://www.resolutionfoundation.org...ead-of-winter/

[The Bedlington Terrier]

We have a government over here CiB who really do not give a flying f*ck.

Clueless, unscrupulous and totally f*cking useless.

[The Bedlington Terrier]

For anybody with a few bob in the bank it's great news, for those who are skint and up to their neck in debt it's disastrous

https://www.gbnews.uk/news/bank-of-e...0-years/348349

[sinkov]

For anybody with a few bob in the bank it's great news, for those who are skint and up to their neck in debt it's disastrous

https://www.gbnews.uk/news/bank-of-e...0-years/348349

So the general public is concerned about rising interest rates, rising fuel costs, rising food prices, thr rising cost of living in general. This will be the same general public which overwhemingly supported the government locking down the country and destroying the economy.

[wanderlust]

For anybody with a few bob in the bank it's great news, for those who are skint and up to their neck in debt it's disastrous

https://www.gbnews.uk/news/bank-of-e...0-years/348349

Not quite as simple as that but you're right. Investments including pension funds and ISAs have taken an absolute hammering - down >10% since Christmas and still falling. If you're old and dependent on private or work pension, you've got to live long enough for global markets to recover - if they ever do - and ideally not have to draw down money to live off now. If you're young and are paying into a pension or ISA - and can afford to do so despite rising costs, you're buying in at a lower price so if/when the market recovers you'll make money for the future. But in a capitalist society, we are all gambling via our pensions etc on the global market continuing to expand forever - and that's the fundamental flaw with capitalism. It's like a shark that has to keep moving or die.

Folk that have taken on debt like loans or mortgages will struggle short term, but nobody will escape being hit apart from the super rich who have enough spare dosh to ride out the storm - or even profit from it. The UK will be hit hard because of the decline in our economy, but the poor in second and third world countries will - as usual - bear the brunt.

[ClaretinBudapest]

Not quite as simple as that but you're right. Investments including pension funds and ISAs have taken an absolute hammering - down >10% since Christmas and still falling. If you're old and dependent on private or work pension, you've got to live long enough for global markets to recover - if they ever do - and ideally not have to draw down money to live off now. If you're young and are paying into a pension or ISA - and can afford to do so despite rising costs, you're buying in at a lower price so if/when the market recovers you'll make money for the future. But in a capitalist society, we are all gambling via our pensions etc on the global market continuing to expand forever - and that's the fundamental flaw with capitalism. It's like a shark that has to keep moving or die.

Folk that have taken on debt like loans or mortgages will struggle short term, but nobody will escape being hit apart from the super rich who have enough spare dosh to ride out the storm - or even profit from it. The UK will be hit hard because of the decline in our economy, but the poor in second and third world countries will - as usual - bear the brunt.

Exactly Wander.Also, because the UK and the USA are to a large extent services based economies as opposed to manufacturing economies the hit they will take will be even harder.
The B of E is in a quander because if they raise interest rates the necessary amount to curb inflation it will bankrupt literally half the country who have been living on cheap loans and mortgages.On the other hand, if they do nothing there will be runaway inflation.
In 2020 The Fed printed more money than in the last 200 years altogether.Think about that.The B of E. stats will be similar.Now it is time to pick up the bill.

[The Bedlington Terrier]

So the general public is concerned about rising interest rates, rising fuel costs, rising food prices, thr rising cost of living in general. This will be the same general public which overwhemingly supported the government locking down the country and destroying the economy.

Exactly the same whack jobs mon ami.

Attachment 22284

[Supersub6]

Having survived after buying property in the 1980s I have the utmost faith that

https://www.youtube.com/watch?v=fCR0ep31-6U

[sinkov]

I've just noticed this is a prediction for 2023, which is hilarious, these feckers can't predict what will happen next week, never mind next year. You can get endless entertainment from the OBR forecasts, not worth the paper they're written on within months, sometime weeks, of publication, every single time.

I have far more chance of telling you what the Grand National winner will be next April, than an economist has of telling you what the rate of inflation will be next April. And I am deadly serious, I am not joking.

[ClaretinBudapest]

I've just noticed this is a prediction for 2023, which is hilarious, these feckers can't predict what will happen next week, never mind next year. You can get endless entertainment from the OBR forecasts, not worth the paper they're written on within months, sometime weeks, of publication, every single time.

I have far more chance of telling you what the Grand National winner will be next April, than an economist has of telling you what the rate of inflation will be next April. And I am deadly serious, I am not joking.

Your good on your horse racing predictions Sinkov.