| longest recession in a century 15:25 - Nov 3 with 2954 views | britferry |
Britain braces for TWO years of pain: Bank of England warns 'longest recession in a century' will last until mid-2024 as it raises interest rates to 3%
Oh thats nice, just what we needed |  |
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| longest recession in a century on 15:38 - Nov 3 with 2216 views | Catullus |
Thank god we have a fixed rate mortgage that goes until 2026! Maybe they'll have sorted this mess out by then.
We have rising inflation, spiralling is a better word. We have interest rates rising but pay is not keeping up.
A lot of people are going to be in hard times. | |
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| longest recession in a century on 16:03 - Nov 3 with 2181 views | herbie |
Thanks Brexit! | | | |
| longest recession in a century on 16:18 - Nov 3 with 2173 views | Togg |
| longest recession in a century on 16:03 - Nov 3 by herbie |
Thanks Brexit! |
Europe also have massive problems. I would add the COVID lockdowns (with all that free money) and the Ukrainian war having a detrimental affect. | | | |
| longest recession in a century on 16:40 - Nov 3 with 2154 views | controversial_jack |
| longest recession in a century on 16:18 - Nov 3 by Togg |
Europe also have massive problems. I would add the COVID lockdowns (with all that free money) and the Ukrainian war having a detrimental affect. |
Consumers have gone nuts after opening up after COVID. Pubs and restaurants etc, have capitalized on this by pushing up their prices in order to try to get back profits they lost during lockdown. This will have an effect as consumers will simply run out of money and stop spending | | | |
| longest recession in a century on 16:51 - Nov 3 with 2141 views | Wingstandwood |
I think the double whammy effect of both Covid and Ukraine has had a significant impact and contributed to the situation the U.K finds itself in? Global stock markets seem to be going the opposite way also.
One positive is i.e. the Covid 'crisis' did not create a depression like what happened in 1929. |  |
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| longest recession in a century on 17:12 - Nov 3 with 2129 views | max936 |
We've now got to pay for all the billions they spent handing out Covid contracts which were useless, to their friends and funders, Han-dick handed a multi million pound contract out to his Pub Landlord. |  |
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| longest recession in a century on 17:51 - Nov 3 with 2106 views | Catullus |
| longest recession in a century on 16:03 - Nov 3 by herbie |
Thanks Brexit! |
Ummm, no. Not entirely. Why do some people seem to have a blind spot where these things are concerned. The war in Ukraine has triggered the utility price rises which triggered inflation. Then the Truss person commited financial hari kari and the BoE has had to raise interest rates to deal with the fallout.
Brexit is a part of it but not all of it and the EU are facing their own problems. | |
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| longest recession in a century on 18:25 - Nov 3 with 2091 views | controversial_jack |
| longest recession in a century on 17:51 - Nov 3 by Catullus |
Ummm, no. Not entirely. Why do some people seem to have a blind spot where these things are concerned. The war in Ukraine has triggered the utility price rises which triggered inflation. Then the Truss person commited financial hari kari and the BoE has had to raise interest rates to deal with the fallout.
Brexit is a part of it but not all of it and the EU are facing their own problems. |
Prices were going up before the Ukraine conflict. OPEC wants the prices high to make a nice profit.
You are correct, the EU has brought this upon themselves by following the US with useless sanctions. The US won't suffer, they will be selling more LNG to Europe.Europe has been well and truly stitched up by the Yanks | | | |
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| longest recession in a century on 18:49 - Nov 3 with 2080 views | JACKMANANDBOY |
| longest recession in a century on 18:25 - Nov 3 by controversial_jack |
Prices were going up before the Ukraine conflict. OPEC wants the prices high to make a nice profit.
You are correct, the EU has brought this upon themselves by following the US with useless sanctions. The US won't suffer, they will be selling more LNG to Europe.Europe has been well and truly stitched up by the Yanks |
At the same time, senile Biden thought it a great idea to chuck 2 Trillion into an inflating economy with supply shortages. The result is US interest rates are going up rapidly, and consequently the value of the dollar, adding to pressures outside of the US. |  |
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| longest recession in a century on 19:10 - Nov 3 with 2072 views | krunchykarrot |
| longest recession in a century on 17:12 - Nov 3 by max936 |
We've now got to pay for all the billions they spent handing out Covid contracts which were useless, to their friends and funders, Han-dick handed a multi million pound contract out to his Pub Landlord. |
Whats the full facts of this claim? i thought that it was all bullshite. We need to find all these scumbags and name and shame along with all the people who abused the furlough scheme. |  | | |
| longest recession in a century on 19:22 - Nov 3 with 2062 views | max936 |
| longest recession in a century on 19:10 - Nov 3 by krunchykarrot |
Whats the full facts of this claim? i thought that it was all bullshite. We need to find all these scumbags and name and shame along with all the people who abused the furlough scheme. |
I dunno, but everything he touched cost the Country billions, that Baroness who had a huge contract for track and trace which turned out to be a disaster, they had advice on which way to go about it which was tried and tested apparently, yet they went with the Baroness and her Billionaire Husbands deal, massive funders of the Tory party. | |
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| longest recession in a century on 20:17 - Nov 3 with 2041 views | Boundy |
| longest recession in a century on 19:10 - Nov 3 by krunchykarrot |
Whats the full facts of this claim? i thought that it was all bullshite. We need to find all these scumbags and name and shame along with all the people who abused the furlough scheme. |
10 BILLION gone , burnt . flushed down the pan , but who cares ,it wasn't their money
https://www.bmj.com/content/376/bmj.o296#:~:text=The%20government%20has%20writte | |
| "In a free society, the State is the servant of the people—not the master." |
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| longest recession in a century on 20:20 - Nov 3 with 2035 views | Kilkennyjack |
| longest recession in a century on 16:03 - Nov 3 by herbie |
Thanks Brexit! |
Correct.
Project Fear was Project Fact.
Rejoin ðŸ´ó §ó ¢ó ·ó ¬ó ³ó ¿ðŸ¤ðŸ‡ªðŸ‡º |  |
| Beware of the Risen People
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| longest recession in a century on 20:21 - Nov 3 with 2030 views | onehunglow |
| longest recession in a century on 20:20 - Nov 3 by Kilkennyjack |
Correct.
Project Fear was Project Fact.
Rejoin ðŸ´ó §ó ¢ó ·ó ¬ó ³ó ¿ðŸ¤ðŸ‡ªðŸ‡º |
The one thing we agree on Bexitvto me equals xenophobia | |
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| longest recession in a century on 20:32 - Nov 3 with 2010 views | Whiterockin |
Hopefully those who took the furlough cash and worked on the side, won't have the cheek to complain when their mortgage goes up. |  | | |
| longest recession in a century on 20:36 - Nov 3 with 1997 views | KeithHaynes |
| longest recession in a century on 20:32 - Nov 3 by Whiterockin |
Hopefully those who took the furlough cash and worked on the side, won't have the cheek to complain when their mortgage goes up. |
Longest period in the last 25 years when there were no strikes. |  |
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| longest recession in a century on 22:27 - Nov 3 with 1924 views | majorraglan |
The country is in a state and we’re in for a tough time, problems have been building up for years and things have come to a head.
The demise of manufacturing and exporting over an extended period has resulted in a negative balance of trade. Our economy is primarily focused on financial services, retail and other services. While the City of London is a massive earner for the UK, retail, hospitality etc which makes up a huge chunk of our economy is highly susceptible to downturns when things get tight and is likely to get pulverised over the next few years a as people tighten their belts. Prices in restaurants etc have gone through the roof. It’s wifey’s birthday next week and she wants to go out for food, one of the restaurants on her list is a small veggie arty cafe type place, starters are coming in about £10 - lots of people living round these parts could never afford that.
The B of E have been slow to respond to the inflationary pressures which have been stoked by Covid, Ukraine, energy prices etc, but I suspect they didn’t want to act too quickly as our economy is quite weak. Britain is the only G7 country with a smaller economy GDP than in early 2020. A protracted recession will mean our economy shrinks even further and we fall further behind! There s no doubt in my mind Brexit is a factor, when we have the likes of JRM telling us it may take 50 years before we see the benefit of Brexit we know somethings not right.
Energy prices have shot up, but the UK is highly susceptible to fluctuations in price as we don’t have a great deal of gas storage. We have a population of 65m and 9TWH of gas storage which is about 9 days. Denmark has a population of 6m and the same 9TWH of storage, Germany has 83m people and 245TWH which is the equivalent of 2.5 months worth of gas. Most European countries storage facilities are 90% plus full. We’re well behind the curve when it comes to energy security and our government has come up well short. OPEC is tightening the screws, we need to be investing in electricity generation and things like renewables can play a huge part in that, unfortunately our infrastructure is poor. I was talking to an electrician about solar this week, I was stunned when he told me there were major restrictions in place preventing houses exporting and selling electricity back in to the National Grid on account of the network not being able to cope.
Surely we should be encouraging the exporting of excess electricity. Our government (and some of its predecessors) have failed us, there’s been no strategic vision, long term planning etc and everything’s been done shoddily and we’re paying the price. The fiasco with immigration, the back log of cases has grown exponentially over the last few years and the reason why..........because we don’t have people processing the claims (coz we won’t spend the money to employ staff to get the work done), we don’t have lawyers to to contest cases and we don’t have a sufficiently robust capability to deport people.
Liz Truss and her cronies....... well they’re probably the worst of the lot. | | | |
| longest recession in a century on 22:28 - Nov 3 with 1923 views | majorraglan |
Down arrowed in error, apologies. | | | |
| longest recession in a century on 22:48 - Nov 3 with 1907 views | BryanSwan |
| longest recession in a century on 15:38 - Nov 3 by Catullus |
Thank god we have a fixed rate mortgage that goes until 2026! Maybe they'll have sorted this mess out by then.
We have rising inflation, spiralling is a better word. We have interest rates rising but pay is not keeping up.
A lot of people are going to be in hard times. |
Wise move, i had to pay to exit my current deal and set up a longer term fix.
There is now way I'd risk relying on interest rates staying put or coming back down at least for a few years.
Now ive just got to find s better savings account, the work never stops. | |
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| longest recession in a century on 22:49 - Nov 3 with 1907 views | JACKMANANDBOY |
| longest recession in a century on 22:27 - Nov 3 by majorraglan |
The country is in a state and we’re in for a tough time, problems have been building up for years and things have come to a head.
The demise of manufacturing and exporting over an extended period has resulted in a negative balance of trade. Our economy is primarily focused on financial services, retail and other services. While the City of London is a massive earner for the UK, retail, hospitality etc which makes up a huge chunk of our economy is highly susceptible to downturns when things get tight and is likely to get pulverised over the next few years a as people tighten their belts. Prices in restaurants etc have gone through the roof. It’s wifey’s birthday next week and she wants to go out for food, one of the restaurants on her list is a small veggie arty cafe type place, starters are coming in about £10 - lots of people living round these parts could never afford that.
The B of E have been slow to respond to the inflationary pressures which have been stoked by Covid, Ukraine, energy prices etc, but I suspect they didn’t want to act too quickly as our economy is quite weak. Britain is the only G7 country with a smaller economy GDP than in early 2020. A protracted recession will mean our economy shrinks even further and we fall further behind! There s no doubt in my mind Brexit is a factor, when we have the likes of JRM telling us it may take 50 years before we see the benefit of Brexit we know somethings not right.
Energy prices have shot up, but the UK is highly susceptible to fluctuations in price as we don’t have a great deal of gas storage. We have a population of 65m and 9TWH of gas storage which is about 9 days. Denmark has a population of 6m and the same 9TWH of storage, Germany has 83m people and 245TWH which is the equivalent of 2.5 months worth of gas. Most European countries storage facilities are 90% plus full. We’re well behind the curve when it comes to energy security and our government has come up well short. OPEC is tightening the screws, we need to be investing in electricity generation and things like renewables can play a huge part in that, unfortunately our infrastructure is poor. I was talking to an electrician about solar this week, I was stunned when he told me there were major restrictions in place preventing houses exporting and selling electricity back in to the National Grid on account of the network not being able to cope.
Surely we should be encouraging the exporting of excess electricity. Our government (and some of its predecessors) have failed us, there’s been no strategic vision, long term planning etc and everything’s been done shoddily and we’re paying the price. The fiasco with immigration, the back log of cases has grown exponentially over the last few years and the reason why..........because we don’t have people processing the claims (coz we won’t spend the money to employ staff to get the work done), we don’t have lawyers to to contest cases and we don’t have a sufficiently robust capability to deport people.
Liz Truss and her cronies....... well they’re probably the worst of the lot. |
I think you've hot the nail on the head 'no strategy and long term planning'. Here's some long term issues that are more operational than strategic that illustrate how short termism has painted us into a corner.
Housing - problem existed from 1945 and has become increasingly worse.
Pensions / demographics - in the 1970s the alarm bells were ringing, pensions have been eroded through a series of short term raids, we are now running out of road.
Health - Avoidable metabolic disease started to grow quickly in the 1980s, now an estimated 45% of NHS capacity is used up by avoidable metabolic disease.
It's taken over 50 years to get in this state, I have no idea how long it would take to fix it. | |
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| longest recession in a century on 08:38 - Nov 4 with 1813 views | majorraglan |
| longest recession in a century on 22:49 - Nov 3 by JACKMANANDBOY |
I think you've hot the nail on the head 'no strategy and long term planning'. Here's some long term issues that are more operational than strategic that illustrate how short termism has painted us into a corner.
Housing - problem existed from 1945 and has become increasingly worse.
Pensions / demographics - in the 1970s the alarm bells were ringing, pensions have been eroded through a series of short term raids, we are now running out of road.
Health - Avoidable metabolic disease started to grow quickly in the 1980s, now an estimated 45% of NHS capacity is used up by avoidable metabolic disease.
It's taken over 50 years to get in this state, I have no idea how long it would take to fix it. |
Totally agree with your second paragraph.
Today’s media exporting Sizewell C is under threat on account of the cost, don’t these duffers see the wood from the trees? We need energy security, there’s an increasing shift towards electricity (including cars), hydrocarbons are becoming more expensive and will probably become more difficult to source, are environmentally less friendly and we’re reducing the options available to increase self sufficiency. It’s mental! | | | |
| longest recession in a century on 09:30 - Nov 4 with 1801 views | gadgetuk |
| longest recession in a century on 08:38 - Nov 4 by majorraglan |
Totally agree with your second paragraph.
Today’s media exporting Sizewell C is under threat on account of the cost, don’t these duffers see the wood from the trees? We need energy security, there’s an increasing shift towards electricity (including cars), hydrocarbons are becoming more expensive and will probably become more difficult to source, are environmentally less friendly and we’re reducing the options available to increase self sufficiency. It’s mental! |
The scrapping of Sizewell C may be the only sensible thing I've heard. Hinkley Point C is years behind schedule and billions over budget, in the short time I worked there I saw so much money being wasted due to incompetence and bad management.
Sizewell does not give us energy security as it will be owned and run by a foreign country. I agree with the construction of new Nuclear Power stations but they need to be owned and run by the UK. | | | |
| longest recession in a century on 09:36 - Nov 4 with 1797 views | controversial_jack |
It's all good having electricity, but most ppl including myself have gas boilers for their heating and hot water. The country needs gas.There is as yet, no alternative to fossil fuels | | | |
| longest recession in a century on 10:08 - Nov 4 with 1787 views | KeithHaynes |
| longest recession in a century on 09:36 - Nov 4 by controversial_jack |
It's all good having electricity, but most ppl including myself have gas boilers for their heating and hot water. The country needs gas.There is as yet, no alternative to fossil fuels |
I agree, we have our own water supply and gas. | |
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| longest recession in a century on 14:18 - Nov 4 with 1740 views | Catullus |
| longest recession in a century on 22:27 - Nov 3 by majorraglan |
The country is in a state and we’re in for a tough time, problems have been building up for years and things have come to a head.
The demise of manufacturing and exporting over an extended period has resulted in a negative balance of trade. Our economy is primarily focused on financial services, retail and other services. While the City of London is a massive earner for the UK, retail, hospitality etc which makes up a huge chunk of our economy is highly susceptible to downturns when things get tight and is likely to get pulverised over the next few years a as people tighten their belts. Prices in restaurants etc have gone through the roof. It’s wifey’s birthday next week and she wants to go out for food, one of the restaurants on her list is a small veggie arty cafe type place, starters are coming in about £10 - lots of people living round these parts could never afford that.
The B of E have been slow to respond to the inflationary pressures which have been stoked by Covid, Ukraine, energy prices etc, but I suspect they didn’t want to act too quickly as our economy is quite weak. Britain is the only G7 country with a smaller economy GDP than in early 2020. A protracted recession will mean our economy shrinks even further and we fall further behind! There s no doubt in my mind Brexit is a factor, when we have the likes of JRM telling us it may take 50 years before we see the benefit of Brexit we know somethings not right.
Energy prices have shot up, but the UK is highly susceptible to fluctuations in price as we don’t have a great deal of gas storage. We have a population of 65m and 9TWH of gas storage which is about 9 days. Denmark has a population of 6m and the same 9TWH of storage, Germany has 83m people and 245TWH which is the equivalent of 2.5 months worth of gas. Most European countries storage facilities are 90% plus full. We’re well behind the curve when it comes to energy security and our government has come up well short. OPEC is tightening the screws, we need to be investing in electricity generation and things like renewables can play a huge part in that, unfortunately our infrastructure is poor. I was talking to an electrician about solar this week, I was stunned when he told me there were major restrictions in place preventing houses exporting and selling electricity back in to the National Grid on account of the network not being able to cope.
Surely we should be encouraging the exporting of excess electricity. Our government (and some of its predecessors) have failed us, there’s been no strategic vision, long term planning etc and everything’s been done shoddily and we’re paying the price. The fiasco with immigration, the back log of cases has grown exponentially over the last few years and the reason why..........because we don’t have people processing the claims (coz we won’t spend the money to employ staff to get the work done), we don’t have lawyers to to contest cases and we don’t have a sufficiently robust capability to deport people.
Liz Truss and her cronies....... well they’re probably the worst of the lot. |
This is why I have such a poor opinion of ALL our politicians. Instead of working to better the country they have all thought no further ahead than winning the next election, then, when the oppo wins they come in and ( being ideologically driven ) undo much of what the previous government did just because it was a left or rght wing idea without any real thought about what was in the country's best interests.
We need energy security, we need all profits from utilities being fed back into the exchequer not going into the pockets of the already rich. We need massive investment in almost every area that matters to us plebs...schools, NHS, policing and infrastrructure to start with and we can't afford it because of stupid, selfish, short termism.
Our politicans have been shite and unfortunately it's a worldwide problem. | |
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