Inflation isn’t an excuse for anything.
If you don’t increase rates you’ll just have prices rise further. Joe Bloggs is paying - it just depends how.
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Inflation isn’t an excuse for anything.
They don't want money flowing through the economy. They want people to spend less so prices are forced to rise more slowly. Cut demand, slow down price increases, lower inflation.
It's absolutely an excuse. Inflation isn't being driven by too much spending, it's being driven by high food and fuel costs. Notice that they didn't cut fuel duty when fuel costs were highest. That would have helped reduce inflation, but then there was no money to be made off of the back of the forelock tugging class then, was there?
That only applies when there's surplus demand IE Lots of people have too much money and this is driving up prices.York Ham(mer) wrote: ↑Wed May 24, 2023 11:28 pm They don't want money flowing through the economy. They want people to spend less so prices are forced to rise more slowly. Cut demand, slow down price increases, lower inflation.
Inflation is simply a measure of rising prices.sendô wrote: ↑Thu May 25, 2023 8:52 am It's absolutely an excuse. Inflation isn't being driven by too much spending, it's being driven by high food and fuel costs. Notice that they didn't cut fuel duty when fuel costs were highest. That would have helped reduce inflation, but then there was no money to be made off of the back of the forelock tugging class then, was there?
The average mortgage cost had already gone up by £481 by December according to the ONS. This is just driving those costs up further for people that can't afford it. Next comes repossessions, more money for the banks and misery for people struggling to make ends meet.
I suggest you give it a rest with the snide crap like this and stick to debating the point at hand.
It isn't snide crap - what you are saying is contrary to standard economic thought which is why central banks around the world are doing something and you are telling them that what they are doing is wrong. Maybe you are right, but I don't see any evidence to suggest that.sendô wrote: ↑Thu May 25, 2023 12:04 pm I suggest you give it a rest with the snide crap like this and stick to debating the point at hand.
Inflation will reduce as food and fuel prices stabilise or reduce. Interest rates have already been raised massively, they don't need to go up further. All this rise will do is put more hard working families under more stress and risk more defaults. The impact to inflation will be negligible at best.
Yes it is, and this isn't the first time you've done it in these threads.
Yet here we all are getting ****ed from both ends, aren't we all so lucky that we've got our lordships looking after us innumerate plebs? Are people just expected to tug their forelocks and thank our all knowing betters?
I have never set myself up as the sole arbiter of anything. However you seem to have dropped the debating and just gone onto playing the man and not the ball and some sort of rant. I never said anything couldn’t be questioned, but my post above is conventional economic thought pointing out some things your argument seems to have missed.sendô wrote: ↑Thu May 25, 2023 4:38 pm Yes it is, and this isn't the first time you've done it in these threads.
You are not the sole arbiter of all that is correct economically, nor is "standard economic thought" something that must never be questioned or challenged, given that recessions are still commonplace and our own government nearly completely ****ed the economy just a few months back.
Yet here we all are getting ****ed from both ends, aren't we all so lucky that we've got our lordships looking after us innumerate plebs? Are people just expected to tug their forelocks and thank our all knowing betters?
It's an odd approach at best, downright stupidity at worst.sendô wrote: ↑Thu May 25, 2023 12:04 pm I suggest you give it a rest with the snide crap like this and stick to debating the point at hand.
Inflation will reduce as food and fuel prices stabilise or reduce. Interest rates have already been raised massively, they don't need to go up further. All this rise will do is put more hard working families under more stress and risk more defaults. The impact to inflation will be negligible at best.
You did that with your “ This is basic economics, I suggest using Google to try and understand it.” comment.
Johnny Byrne's Boots wrote: ↑Wed May 24, 2023 7:24 pm But but but you must be rich, your house is worth a million. You need to be taxed on this made-up valuation. Tax the rich.
In other news, savings rates are still expected to stay microscopically low.
If it's to save there are a couple of accounts offering 4.25 and a bit higher.Johnny Byrne's Boots wrote: ↑Fri May 26, 2023 12:00 pm In other news, savings rates are still expected to stay microscopically low.
Get onto raisen (saving platform) managed to get fixed of 4.5% for 7 years for the kids moneyJohnny Byrne's Boots wrote: ↑Fri May 26, 2023 12:00 pm In other news, savings rates are still expected to stay microscopically low.