Stagflation

[Malcolm]

Given we are about to enter a period of stagflation and possibly a depression, what are peoples views on how bad this will be.

I see hardship ahead like I have never seen in my lifetime, possibly as bad as the 1930s.

[thplinth]

Yep.

[Ally Bongo]

There is/was a millionaire/billionaire who used to give talks on why Capitalism (and how it taxes the ultra rich) needs to change otherwise the mobs with pitchforks and burning torches will be in the streets after them

Hopefully this moment is fast approaching

They have made trillions out of the banking crash, asset stripping, wars, Brexit et al and stuffed their money offshore whilst public services have gone down the tubes

[hampden_loon2878]

2 hours ago, Malcolm said:

Given we are about to enter a period of stagflation and possibly a depression, what are peoples views on how bad this will be.

I see hardship ahead like I have never seen in my lifetime, possibly as bad as the 1930s.

I dont think folk appreciate what is away to unfold this year, it was going to be shit without this war in ukraine. My mortgage renewal is due in September, i will be looking to do a ten year fix

[Malcolm]

I’m not sure people realise that it’s not just energy we are looking at here, but basics such as food will rocket plus interest rates will rise.

energy is bad enough, my direct debit has been raised by almost three times the old amount to over £500 a month.  I’m in a fortunate position to be able to cover that, but god knows how those on benefits or a pension will survive.  I think we have until next winter to solve this or we will be looking at rioting and looting throughout the country.  Crime is going to soar with the desperation we will see. It’s going to be like the third world here.

[Orraloon]

The third world will seem like luxury, once your wish comes true, and the nukes start flying. 😉

[scotlad]

14 hours ago, Ally Bongo said:

There is/was a millionaire/billionaire who used to give talks on why Capitalism (and how it taxes the ultra rich) needs to change otherwise the mobs with pitchforks and burning torches will be in the streets after them

Hopefully this moment is fast approaching

They have made trillions out of the banking crash, asset stripping, wars, Brexit et al and stuffed their money offshore whilst public services have gone down the tubes

6 hours ago, Malcolm said:

I’m not sure people realise that it’s not just energy we are looking at here, but basics such as food will rocket plus interest rates will rise.

energy is bad enough, my direct debit has been raised by almost three times the old amount to over £500 a month.  I’m in a fortunate position to be able to cover that, but god knows how those on benefits or a pension will survive.  I think we have until next winter to solve this or we will be looking at rioting and looting throughout the country.  Crime is going to soar with the desperation we will see. It’s going to be like the third world here.

If people's day to day life is affected - if prices of basics like food go up but wages don't - that's when people will get angry.

Figuring out who the real enemy is in this situation is still, unfortunately, beyond a lot of folk though, I feel.

[Diamond Scot]

1 hour ago, scotlad said:

If people's day to day life is affected - if prices of basics like food go up but wages don't - that's when people will get angry.

Figuring out who the real enemy is in this situation is still, unfortunately, beyond a lot of folk though, I feel.

We havent had a blame the benefit cheats in a while!!!

Just ignore the tax evasion that would bring in billions per year if dealt with. Lets focus on the old dear gets an extra 40 quid per month for falsely declaring something.

[scotlad]

On 3/11/2022 at 2:29 PM, Diamond Scot said:

We havent had a blame the benefit cheats in a while!!!

Just ignore the tax evasion that would bring in billions per year if dealt with. Lets focus on the old dear gets an extra 40 quid per month for falsely declaring something.

Exactly. 

Obviously cheating the benefits system isn't something to be condoned, but the sums of money lost are washers compared to the amounts some large companies get away with paying.  It's also a lot easier to attach a human face for "name and shaming" purposes.