Food inflation suddenly goes out of control - the media has barely noticed.

[byron78]

Just now, dpg50000 said:

Appears to be in the press:

https://www.theguardian.com/society/2022/may/15/watchdog-urged-to-step-in-as-uk-poorest-turn-off-energy-supply

 

Ah. Thank you.

[shlomo]

10 minutes ago, byron78 said:

Ah. Thank you.

Do you thinks tough times are coming?

[Saving For a Space Ship]

Food Bank usage up from 40 thousand to 2.2 million over 12 years

Number of people receiving three days' worth of emergency food by Trussell Trust foodbanks in the United Kingdom from 2008/09 to 2021/22  

https://www.statista.com/statistics/382695/uk-foodbank-users/

[byron78]

24 minutes ago, shlomo said:

Do you thinks tough times are coming?

Personally?

Yes. Absolutely. 

There's a lot of denial floating about at the minute though. The most positive thing I've heard is really "at least the war will help hide Brexit"!

I think there's a massive disconnect between everyday society and those running it now. 

Huge rifts. Sunak and Boris not on speaking terms presently. Boris in the doghouse at home. Also the whole Lord Siberia thing is getting looked at. It's not good. Boris basically told our secret service to stand down. They flagged Lebedov as a spy...

[shlomo]

15 minutes ago, byron78 said:

Personally?

Yes. Absolutely. 

There's a lot of denial floating about at the minute though. The most positive thing I've heard is really "at least the war will help hide Brexit"!

I think there's a massive disconnect between everyday society and those running it now. 

Huge rifts. Sunak and Boris not on speaking terms presently. Boris in the doghouse at home. Also the whole Lord Siberia thing is getting looked at. It's not good. Boris basically told our secret service to stand down. They flagged Lebedov as a spy...

I do not think this is related to the tories, it is something else, we have hit a schism in human history..

When Prime Minister Harold Macmillan was asked what was the greatest challenge for a statesman, he replied: 'Events, dear boy, events'. The same is true for most leaders and organisations. Events Happen. When they do a lot of things are at stake: lives, livelihoods, reputation

[byron78]

3 minutes ago, shlomo said:

I do not think this is related to the tories, it is something else, we have hit a schism in human history..

When Prime Minister Harold Macmillan was asked what was the greatest challenge for a statesman, he replied: 'Events, dear boy, events'. The same is true for most leaders and organisations. Events Happen. When they do a lot of things are at stake: lives, livelihoods, reputation

I think one of the problems we have here is that we have largely spent the best part of 40 years blaming Labour for 1970s events.

 

[shlomo]

8 minutes ago, byron78 said:

I think one of the problems we have here is that we have largely spent the best part of 40 years blaming Labour for 1970s events.

 

This is not about the UK, this is about where we as a specie are heading from where I am standing we are staring into the abyss 

[byron78]

Just now, shlomo said:

This is not about the UK, this is about where we as a specie are heading from where I am standing we are staring into the abyss 

More so than for a long time.

The consensus I've heard is that Putin doesn't want to and won't use nukes.

For starters he's got daughters in Switzerland.

But the flipside of that is long drawn out land war. Conscription options privately explored (but I honestly do think that is as a last resort).

Honestly? The thing that worries me most is that Boris Johnson is such a selfish, awful, twonk he would take the country to war to save his own skin.

[shlomo]

3 minutes ago, byron78 said:

More so than for a long time.

The consensus I've heard is that Putin doesn't want to and won't use nukes.

For starters he's got daughters in Switzerland.

But the flipside of that is long drawn out land war. Conscription options privately explored (but I honestly do think that is as a last resort).

Honestly? The thing that worries me most is that Boris Johnson is such a selfish, awful, twonk he would take the country to war to save his own skin.

 

This war is going to get out of control when China joins on the side of Russia, the Euroasian superpower

Do you remember the economic problems of the 1970s I say this because supply chains are being broken so we will  be back at this point soon, soon all the gains of the past 50 years will be lost

[byron78]

Just now, shlomo said:

 

This war is going to get out of control when China joins on the side of Russia, the Euroasian superpower

Do you remember the economic problems of the 1970s I say this because supply chains are being broken so we will  be back at this point soon, soon all the gains of the past 50 years will be lost

70s were bad. 

But it was an oil crisis. The worst thing the Labour government did was pretty much a furlough tbh. Looks ever so tame now.

It did make me realise why billionaires are so keen on the press though. You don't just own the present with a view to shaping the future. You also own the past.

Whole generation who have accepted "everything bad in 70s because Labour". 

Most probably aren't remotely aware of the circumstances. I can only vaguely remember bits and pieces tbh.

 

[shlomo]

2 minutes ago, byron78 said:

70s were bad. 

But it was an oil crisis. The worst thing the Labour government did was pretty much a furlough tbh. Looks ever so tame now.

It did make me realise why billionaires are so keen on the press though. You don't just own the present with a view to shaping the future. You also own the past.

Whole generation who have accepted "everything bad in 70s because Labour". 

Most probably aren't remotely aware of the circumstances. I can only vaguely remember bits and pieces tbh.

 

The economy will be as bad as the 1970s, 50 years of economic growth will vanish

[winkie]

3 hours ago, Arpeggio said:

 

Funny.

[byron78]

3 minutes ago, shlomo said:

The economy will be as bad as the 1970s, 50 years of economic growth will vanish

You're right.

But it'll be worse for many.

No council houses. A lot of taxation kicked down into stealth taxes etc. Tax burden passed to workers not asset holders.

The situation, as I see it, is that there will be a crash of sorts. But also, there's a big asset class (and I am included here) who aren't going to suffer much.

They will watch asset crashes like a hawk and then hoover up the bits they want etc.

Many are going to be left with nothing and then very limited options beyond all that. 

 

[shlomo]

11 minutes ago, byron78 said:

You're right.

But it'll be worse for many.

No council houses. A lot of taxation kicked down into stealth taxes etc. Tax burden passed to workers not asset holders.

The situation, as I see it, is that there will be a crash of sorts. But also, there's a big asset class (and I am included here) who aren't going to suffer much.

They will watch asset crashes like a hawk and then hoover up the bits they want etc.

Many are going to be left with nothing and then very limited options beyond all that. 

 

You are missing the point, we are on the precipice of a Great Chaos

[winkie]

Unless in a well paid job, enjoy it and prepared to stick with it, many who can retire will retire when they can, staying working will be no benefit to them, they are selling their time for money that is losing value fast.....treading water.

Living in the last third of life, time is worth more than money......teaching old dogs new tricks.

Younger people will not want to do dead end jobs on low pay that are topped up with benefits, boring repetitive jobs with no job satisfaction or prospects.......so I can see us going back to earning money in new ways, social media, not having a regular income, ducking and diving, wheeling and dealing, doing bits and pieces as and when can......networking.

 

 

 

[pig]

2 hours ago, byron78 said:

I think one of the problems we have here is that we have largely spent the best part of 40 years blaming Labour for 1970s events.

 

Very true. Its a hackneyed meme that at first had me puzzled but after you live through successive governments you realise memes don't have to be true they just have to work for 'long enough'.

That one is quite resilient though - I wonder if its because letting go of it would undermine Thatcher.

[Money Frugality]

On a side note I went to Aldi for the first full shop there in a long time.. Queues were right to the back of the store. 
 

Inflation is well and truly here. I still spent more than I usually do at Asda though 🤔.. 

[PeanutButter]

5 hours ago, shlomo said:

You are missing the point, we are on the precipice of a Great Chaos

Then the question should be: what can individuals do to mitigate this event?

[skinnylattej]

11 hours ago, Saving For a Space Ship said:

Food Bank usage up from 40 thousand to 2.2 million over 12 years

Number of people receiving three days' worth of emergency food by Trussell Trust foodbanks in the United Kingdom from 2008/09 to 2021/22  

https://www.statista.com/statistics/382695/uk-foodbank-users/

I'm sure members of the Tory party will be trumpeting this as a great success for Great Britain.

Dam, did I use the T word?

[PrincessNutNut]

16 hours ago, byron78 said:

 

But it'll be worse for many.

No council houses. A lot of taxation kicked down into stealth taxes etc. Tax burden passed to workers not asset holders.

 

That's the kicker - inflation control requires tighter financial conditions to stifle demand, which strangles parts of the zombified economy, which drives tax receipts down, while government debt payments rise at the same time.

That requires higher taxes or less government spending, and after years of austerity neither of these are going to be welcome options.

They're going to need something bigger than a proxy war to keep the spotlight off themselves. 

[Sour Mash]

16 hours ago, shlomo said:

You are missing the point, we are on the precipice of a Great Chaos

Yes, I would agree.  This isn't going to be a regular recession - it's most likely going to be a massive depression - deferred from 2008/9 and made many time worse in the intervening period -  coupled with a global energy and food crisis and quite possibly a major war between great powers (the way some of our politicians appear to be going).

[Timm]

8 minutes ago, Sour Mash said:

Yes, I would agree.  This isn't going to be a regular recession - it's most likely going to be a massive depression - deferred from 2008/9 and made many time worse in the intervening period -  coupled with a global energy and food crisis and quite possibly a major war between great powers (the way some of our politicians appear to be going).

I blame Fukuyama.

He jinxed it.

[PeanutButter]

On 22/04/2022 at 15:47, PeanutButter said:

I know no one listens to me on here (or anywhere) but lard is good. Try Lard™️

 

 

[scottbeard]

20 hours ago, shlomo said:

This is not about the UK, this is about where we as a specie are heading from where I am standing we are staring into the abyss 

Jeez that’s a depression low even for HPC

So you fear the economic gains of 50 years might be lost?

1. That’s unlikely

2. was the 1950s-1970s so bad it’s “staring into the abyss” to be set back that far?! Most seem to see them as halcyon days…

[shlomo]

59 minutes ago, scottbeard said:

Jeez that’s a depression low even for HPC

So you fear the economic gains of 50 years might be lost?

1. That’s unlikely

2. was the 1950s-1970s so bad it’s “staring into the abyss” to be set back that far?! Most seem to see them as halcyon days…

We have an incredible high standard of living that is built on the supply chain, which is being dismantled