Interest rates predicted to rise again tomorrow….

sherlock1969 said:
True in normal times. Not true now. There are no money saving switches to be had.
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S1969

True there is currently limited choice in energy prices.

However some people have switched onto variable electricity prices through Octopus. Fragrance Guy was pushing this a couple of months back. It is more risky but they are laughing at the moment with falling whole sale prices.

I forgot to add for retail milk there have been price cuts in the last few weeks that will be reflected in May and June inflation figures. Another deflationary factor is the drop in shipping costs. International shipping costs went through the roof in lock down e.g 10 times normal price and thos made everything from the Far East more expensive. They have significantly dropped back lately.
 
BoroMart said:
We appear to have a lot of people that know more about economics than people at the top of the industry, absolutely
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Nobody is claiming anything of the sort.

However, there is nothing particularly complicated to understand - it's just a question of whether you agree with the decisions that are being made. As I've already mentioned, economics isn't a science. It's all about best guesses and they're all about starting points and prevailing politics.

The fact that since Thatcher we've been saddled with the ludicrous notion that running a country is like running a household is proof enough to me that the 'economic experts' aren't willing to upset the apple-cart. That is purely a political decision.

Randy said:
Exactly. I'm not clued up on all things economic but I'd back the corner of the banking experts and not the corner of a social worker if push came to shove.
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The banking experts who have seen us through recession, austerity and more recession?

I think I'd be happy giving you a go...
 
Scrote said:
Nobody is claiming anything of the sort.

However, there is nothing particularly complicated to understand - it's just a question of whether you agree with the decisions that are being made. As I've already mentioned, economics isn't a science. It's all about best guesses and they're all about starting points and prevailing politics.

The fact that since Thatcher we've been saddled with the ludicrous notion that running a country is like running a household is proof enough to me that the 'economic experts' aren't willing to upset the apple-cart. That is purely a political decision.


The banking experts who have seen us through recession, austerity and more recession?

I think I'd be happy giving you a go...
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He was talking about me. For some reason Randy seems to think the fact that I am a social worker is something to be used as an insult.
 
The other thing in all this is that banks are also failing to pass onto savers the full benefit of the interest rate hike, which is making them a fortune.

It's legal but it's corrupt.
 
sherlock1969 said:
BoroMart will be along in a minute to tell you they are acting in good faith and we must accept it because they are the experts.
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Raising interst rates is a pretty grim tactic for the vast majority of people, essentially it relies on making us poorer to such an extent we can buy as much stuff with our earnings.

And they expect us to accept that as legitimate and fair.

The whole system is rigged.
 
Jonny Ingbar said:
Raising interst rates is a pretty grim tactic for the vast majority of people, essentially it relies on making us poorer to such an extent we can buy as much stuff with our earnings.

And they expect us to accept that as legitimate and fair.

The whole system is rigged.
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But they are the experts so it must be right and nobody should question it!
 
Pak_Doo_Ik said:
Along with accepting our below inflation wage increases cos the experts say it’s the right thing to do🤭
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Im clearly living rent free in a few heads on here

I don’t accept that at all. I believe the burden of the economic failure is being predominantly applied to the 95% of people with the smallest wealth, but carry on putting daft words in my mouth if that makes you feel better
 
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