Well with the current fuel cost rising and the interest rates going through the roof due to the chancellors balls up and growth shrinking 
Are we heading for another big recession again or is it just choppy waters ?
Ever heard of Gillian Tett?
She is an editor and journalist at the FT. Here she was on the box commenting on what Rees-Mogg had to say about the crisis.
youtube.com/watch?v=NrEYAgosyE4&t=326s
“Max Robespierre” is commenting on it, but her words are plain enough…
Savers have been and continue to be ripped off to subsidise borrowers.
No one can afford to have savings and incomes wiped out by artificially low interest rates.
The problem is mainly the difference between lending rates and saving rates in that regard.
> Carryfast:
> The problem is mainly the difference between lending rates and saving rates in that regard.
As you have said many times CF: CO2 didn’t cook Venus, atmospheric pressure and proximity to the Sun did, whilst also failing to ameliorate between lending rates and saving rates
whisperingsmith:
> Carryfast:
> The problem is mainly the difference between lending rates and saving rates in that regard.As you have said many times CF: CO2 didn’t cook Venus, atmospheric pressure and proximity to the Sun did, whilst also failing to ameliorate between lending rates and saving rates
Feel free to explain the temperature difference between Mars and Venus both with an atmosphere made up of around 95% CO2.
Way below inflation interest rates for savers v way above inflation interest rates for borrowers seems like a good amelioration for the banks.
I do feel sorry for the kids at the moment , but for the mrs & me these interest rates on all our savings are very handy .
dozy:
I do feel sorry for the kids at the moment , but for the mrs & me these interest rates on all our savings are very handy .
But as Carryfast rightly says above, the interest youre getting doesnt cover the extra inflation as it shrinks the buying power of your pound.
Franglais:
dozy:
I do feel sorry for the kids at the moment , but for the mrs & me these interest rates on all our savings are very handy .But as Carryfast rightly says above, the interest you
re getting doesnt cover the extra inflation as it shrinks the buying power of your pound.
But negative savings rates are nothing new.
Effectively it’s theft of savings to add to the banks’ profits and to subsidise wage costs for employers.
Savers rates now rising - doesn’t help anyone who’s depleted their savings over the past 3 years…
Younger folk stand to inherit houses that will be worth a fraction of what they were 3 years ago as well.
“Recession”?
…More like a 1930’s style DEpression… Higher taxes won’t bail out the government shortfall - if we all now lose our better-paid jobs that would have PAID those higher taxes…
The real reason for rising interest rates - is more likely to be connected to “China not buying so many of our bonds” each and every month.
We can only continue running deficits as a country - with Chinese approval, after all…
Maybe they are not happy at us having turned against their ally Putin?
Whatever one thinks, it seems unlikely that this “Recession” will end in Putin’s lifetime, hence why we keep getting fed “hope ■■■■” on the news that Putin is “on his last legs - honest!”