Harry Monk:
The next BoE interest rate review will be held on Thursday 2nd February 2023 and my prediction is that interest rates will again be raised by 0.5%.
Like tax increases, if increases in incomes aren’t matching increases in lending rates the only result can be default on the basis of can’t pay won’t pay.
Also bearing in mind that negative interest rates just results in the erosion of capital funds to lend.
Printing more worthless paper cash won’t fix that.
Abandoning the climate scam and keeping Brit oil and gas for Britain’s use, with resulting massive reductions in energy costs, might just turn the economy around.
I think thatcher sold off the rights to the oil and gas to bp etc but could be wrong. However i agree we need a SHORT term soloution to tide us over for aprox 10 years to build nuclear fusion/power stations. What we must never do again is buy in power or utilities. we are an island and need to remain as one.
SHYTOT:
Could all the boxes from large container ports be sent by rail to local inland rail depots for delivery locally
one train could pull 50 boxes from Felixstowe to Glasgow
In a word, no
I`ve dealt with three massive importers on the intermodal job, and all three move too many boxes from FLXT for the train to cope
Toyota @ Burnaston
M&S @ Castle Donnington
Curry`s @ Newark
For each to receive their imports they need trucks to sequence the deliverys, and we all know that the 2nd box via an inland terminal is ALWAYS late, as mentioned elsewhere, they cannot cope with the volumes the second it ramps up, and they arent that good when its quiet TBH…Been there, done that
Less volume, more emphasis on paperwork/data input and timed deliveries to avoid unnecessary fines.
For us possibly a better new bonus structure to keep trucks in better condition and avoid expensive unnecessary damage.
I wouldn’t rule out some cutbacks in staff but our lot got their fingers burnt jumping the gun with redundancies at the start of the pandemic so I think they’ll try very hard to avoid that.
Pricing and competition will be even more cutthroat so expect buyouts.
Harry Monk:
I think 2023 will bring a huge recession, the likes of which we have not seen since the early 1980s, and all that goes with it. I think we have more inflation to come, more interest rate rises to come, and higher energy costs to come. I see no end to war in Ukraine which is a major factor in all of this, plus of course we will be paying for the Covid nonsense for the next decade.
Not going to happen. Many people aren’t going to be affected by mortgage interest rate rises for some time, for example we remortgaged for a 5 year fix at 1.49% in 2021, our next isn’t going to be due until 2026 so all the recent rises to 5/6% have had no effect and that’s the case for millions, it only ■■■■■ if you were remortgaging after March this year when they started to go up. Inflation is already falling, the BoE in the latest rate review have voted majority to not rise and mortgage companies have already begun to lower interest rates especially on 5 year fixes so they don’t see them going up. Government energy price guarantee will see only a fraction of a percentage rise in January, maybe 1-2% even though the price cap is going to go up more.
Employment wise there’s big issues with the over 50s who have just decided to take themselves out of the workplace, either choosing to retire early or half retire doing a couple of days a week. With EU citizens returning home, freedom of movement meaning they can’t come here unless they’re applying for a job that qualifies for a Tier 2 visa with a company on the sponsor list and currently still with as many job vacancies as there are people looking for work the 10% unemployment we had both in the early 80s and 2008 recession isn’t happening.
This recession will literally be one on paper, the average person in the street when actually taking an unbiased look at their own personal circumstances instead of just thinking that things are bad because of the fear ■■■■ they’re peddled in the news, will find that they’re not as affected as they thought they were.
The people who will be affected the most will be those who’ve lived the lifestyle they have and couldn’t afford using other peoples money so were spending every penny they’d earned by payday on living costs, stuff they’d signed up to and car finance, loans and credit cards, not worried because they thought the party of the last 12 years could go on forever. They’ll be shafted because they have zero room in their budget but that’s a problem of their own making.
Totally agree with the last two paragraphs, interest rates haven’t shot up they’ve just returned to a more normal level so they’re going to find out they’ve overstretched pretty quickly.
Harry Monk:
The next BoE interest rate review will be held on Thursday 2nd February 2023 and my prediction is that interest rates will again be raised by 0.5%.
