Is Inflation now OK?

[Deleted member 59730]

All my life the Governments have preached that inflation is an evil that must be fought against. Now Bojo seems to welcome wage and cost increases. He calls it a Brexit benefit. Will the chancellor think the same when Nurses, firemen, policemen, teachers and others ask for inflation busting wage increases? Or are high wages OK only if someone else is paying?

 

[The Byre]

Inflation is a hidden tax on the poor and the middle classes. It means the money you earn is worth less day-by-day.

A house that cost £750 in 1950 may cost £750,000 today. It's the same house! It's the pound used to buy it that has changed - not the house! It took a man working at a semi-skilled job in a steelworks two years to buy such a house. Today, it would take him 20 years.

In terms of that house, his wage is one-tenth the wage from two generations ago.

The UK economy is falling in on itself - and Johnson and Co. do not seem to even notice. Queues at petrol stations, empty shelves, closed shops permanently boarded up, factories having to close for want of workers and key supplies - all part of his great plan for 'Get Brexit done!'

My wife is just back from Berlin. No empty shelves, no closed shops, no CO2 shortages, no queues at petrol stations, no waiting lists at doctors' surgeries or for treatment, no staff shortages at care homes.

The UK is one of the two countries in the world that is not in a trading bloc. The other is North Korea!

 

[UKSBD]

All my life the Governments have preached that inflation is an evil that must be fought against. Now Bojo seems to welcome wage and cost increases. He calls it a Brexit benefit. Will the chancellor think the same when Nurses, firemen, policemen, teachers and others ask for inflation busting wage increases? Or are high wages OK only if someone else is paying?

A sign that inflation is on the way, but not to worry, Boris planned it and it's a good thing.

 

[InsuranceBroker]

It was planned globally. Note the US is having a similar issue.

 

[WaveJumper]

Interestingly South Africa talking about raising rates and Romania closer to home has unexpectedly raised rates for the first time since 2018. And Binden has apparently warned US citizens retirement account assets my plummet in coming days as interest rate rise ...... What a dreary days this is turning out to be

 

[Philip Hoyle]

Inflation is a handy tool to "inflate away" the country's debt.

 

[Deleted member 335660]

All my life the Governments have preached that inflation is an evil that must be fought against. Now Bojo seems to welcome wage and cost increases. He calls it a Brexit benefit. Will the chancellor think the same when Nurses, firemen, policemen, teachers and others ask for inflation busting wage increases? Or are high wages OK only if someone else is paying?

I remember when Mrs Thatcher was in power our mortgage interest rate went to 15%.

Ofcourse Bojo welcomes wage increases, it makes his government look good to the fools that believe his patter. It is only good if the wage increase exceeds inflation and is enough to like on.

We have reached a stage where the only substantial way to increase productivity is to use computers and that makes people redundant. We need a new way of thinking and living, Not more of the old banter.

 

[WaveJumper]

New Zealand raises interest rates for first time in seven years
https://www.bbc.co.uk/news/business-58812068

 

[DontAsk]

We have reached a stage where the only substantial way to increase productivity is to use computers and that makes people redundant. We need a new way of thinking and living, Not more of the old banter.

We have reached this stage every year for the last 50 years yet we still have plenty of unfilled job vacancies.

 

[thetiger2015]

We have reached this stage every year for the last 50 years yet we still have plenty of unfilled job vacancies.

That depends on the accuracy of the data. Plenty of jobs...until you look a little closer and realise 20% or more are almost pyramid schemes/selling catalogues to your neighbours.

Plenty of care jobs but you'll be working 60+ hours a week for minimum wage, you're about to get taxed to oblivion on what you do earn, that's why those spaces are hard to fill.

Where there are computers, there are people to fix the computers. The jobs market has changed in 50 years, from manual labour to tech but we're now outside a lot of the investment bubbles. The EU invested heavily in tech resources for the bloc, we no longer get that investment. Lots of science based jobs relied on EU co-operation but people were blind to it. Now we're in competition with the very bloc that used to work with us on various things.

I was told by lots of people on this forum that it's easy. Brexit will be amazing. We'll just agree to lots of huge deals with the US and the EU will come begging....how's that working out?