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Most liked posts in thread: Cost of Living Crisis

  1. YungNath

    YungNath Impact Sub

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    It's a joke in the extreme. Its why I support things like striking and non payment of bills, because at this point large companies are just mugging ordinary people off because they know they can and nothing will happen.
     
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  2. Bronco

    Bronco Star Player
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    The bankers got away with the subprime fiasco several of them should have served jail sentences, the same with the PPI scam the banks knew exactly what they were doing that's why a bank like Lloyds didn't contest many if any of the claims, yet they were quick enough to stop paying their share holder dividends.
     
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  3. YungNath

    YungNath Impact Sub

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    at the beginning of this something like 40 small energy suppliers went out of business, because the cost of energy rose beyond the point at which it was profitable for them to sell energy (potted explanation). There was a case for a rise in costs, but at this point it's basically just outrageous profiteering.
     
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  4. Bronco

    Bronco Star Player
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    Why didn't Labour persue the renationalisation under Blair when they were in office with a 179 majority and could guarentee at least a second term and possibly a third unless the messed up big time with that sort of majority.
    With regards your red wall and Labour supporters voting Tory that has been done to death, for a leaver there was no other party to honour the referendum result, the other parties were dumb leaving only Labour offering leavers a ridiculous scenario aying they would renegotiate the deal then vote against it if you remember.
     
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  5. SelbyFan

    SelbyFan Impact Sub

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    Irrelevant of party all politicians now are career politicians.

    There is little difference between the so called right and left.

    None are driven by the beliefs that drove their predecessors (for instance inequality and unfairness) to rail against the incumbent government.

    Politics is dead and the government is just another level of management. (Usually managing for their own gain).

    My opinions only (long live the revolution).
     
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  6. Offcomedun

    Offcomedun Important Player
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    There should be no question of not having the basics to sustain life.
    I'm not suggesting that we suddenly stop burning fossil fuel tomorrow. That would be ridiculous. But we should be investing much more in wind and wave power. We have about 7500 miles of coastline that can be used for wind and wave power projects. There are scores of land-based wind farms that have planning permission to be built but the Tories won't build them for fear of upsetting NIMBY voters (although surveys suggest that most people are actually far more amenable to new wind farms than the politicians are). We need to phase out reliance on fossil fuel. It can be done if the will is there.
     
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  7. bantam65

    bantam65 Important Player
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    Twit?
    Correct vowel?
     
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  8. Offcomedun

    Offcomedun Important Player
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    Thanks for that Vladimir.
     
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  9. Rogered Tart

    Rogered Tart Regular Starter
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    Of course they are. Just like they are shareholders in companies like BAE systems and Lockheed Martin to name but two. Simply put, this cost of living crisis, the war in Ukraine and the covid crisis has seen the the very few people who hold most of the worlds wealth become richer quicker than at any time in their lives.
    The ones at the top don't ever suffer no matter what the narrative.
     
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  10. Bigrod

    Bigrod Captain
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    Well after todays ‘interesting’ developments and the crash of the pound against most currencies but in particular against the Dollar, then we have seen ‘year on year’ decline at the hands of the current Government. https://www.cnbc.com/2022/09/23/british-pound-plunges-to-fresh-37-year-low-of-1point10-.html

    We buy Oil in Dollars, so expect fuel to increase again.

    The collapse is distressing.

    Borrowing…Yes Borrowing by the current Government, who lambast the opposition if they borrow is lamentable at best.

    I thought Johnson was disgraceful, but Ms Trust is on another level.

    Fine if your a banker (many who get paid in Dollars so a Win/Win situation), those who pay Tax at the highest level. People buying houses (who the F apart from bankers can afford to do so).

    I am too old to emigrate, but if I was younger I seriously would!
     
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  11. Bantamsteve

    Bantamsteve Impact Sub

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    Absolutely
    The "Rich and Powerful" are investing already but not in progressive industry eg Bill Gates buying farmland Why ???
    Property a one time sound investment will soon be priced out the market house prices will soon collapse with many many thousands of people plunging hopelessly toward negative equity, who will be able to afford a mortgage when interest rates reach double figures (it won't be long,)
    This will bite the Tories in the bum soon enough it's always been the same with them the rich get richer the poor get poorer maybe if Liz Truss spent a day at a foodbank or soup kitchen it would give her a reality check (I doubt it)
    No great shocks
     
    #91 Bantamsteve, Sep 24, 2022
    Last edited: Sep 24, 2022
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  12. Tony Wilkinson

    Tony Wilkinson Squad Player
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    Tories : " we're going to give everyone one million pounds and you no longer have to go to work...Labour: " It's not enough" ...
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
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  13. Bronco

    Bronco Star Player
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    You have to wonder why the Tories went down the route of austerity in 2010 when lending was at an all time low, yet now lending is on the rise its fine to burden the country for decades to come with regards their future lending.
     
  14. Dennis

    Dennis Captain
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    Kwarteng quoted it originally as £2bn pa in a throwaway answer to a question when the 'policy' was first announced. He has said nothing about it since then to confirm the figure other than to say all will be revealed on Nov 23! Since then the IFS have calculated it at over £6bn, Resolution quoted a similar amount from their own calculations and Michael Chope, former head of OBR has quoted a similar figure. Another body (I forget who but maybe UBS) has quoted the number of people currently paying 45% as over 600,000 with an average tax saving of around £10k - or £6bn again.

    The cost of this particular aspect isn't huge for a Govt with debt approaching £2.5trillion but it appears somewhat higher than Kwarteng's original comment.

    The more fundamental point is whether tax cuts and more Govt spending leading to more Govt borrowing to pay for it will create the conditions for growth in the economy. We've had appalling growth for years now and if economic life were as simple as Trussonomics suggests, I'm surprised that it's taken so long for the UK to do this! I'm equally surprised that since a growing economy is the pursuit of every major economy in the world, that other countries aren't also pursuing similar policies.
     
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  15. Dennis

    Dennis Captain
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    The issue isn't simply about the higher rate of tax being removed. By all means focus on that if you want to but the big problem is the immediate abolition of the social care levy, planned reduction in income tax for all of us and not implementing the planned corporation tax changes. All of that will reduce the Govt tax revenues by between £45bn and £49bn each year. And our Chancellor hasn't explained to the bond markets in particular how the shortfall will be funded. It shouldn't come as a surprise that Govt bonds are taking a huge hit and that pension funds, for example, who hold a tonne of Govt bonds to pay their pensioners are finding their investment in bonds in free fall without the intervention of the BoE.

    This is simply ideological incompetence on the part of Truss and Kwarteng .. and there's more to come. Word on the street is that the corporate bond market is now starting to get nervous. And it's corporate bonds which would be part of the funding of investment which would create growth. The Govt strategy is already unfolding.
     
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  16. Offcomedun

    Offcomedun Important Player
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    Russia invading another European sovereign country isn't just 'Russian business'. If Putin had been allowed to just walk all over Ukraine it would have been Moldova next, then the Baltic States and then on to Poland. Putin wants to reclaim as much of the old USSR as he can. Showing weakness to him would just have encouraged his megalomania even further.
    Not sure why you don't seem to get this.
     
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  17. Bronco

    Bronco Star Player
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    Unfortunatly that won't happen for another 3 years.
     
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  18. Rogered Tart

    Rogered Tart Regular Starter
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    I'm not sure why folk can't actually see how the rich get richer every single year. Every penny their wealth goes up has to be squeezed out of people with no choice.but to pay it. It's why their system dictates that you have to work longer every year before you actually start earning for yourself and not paying the taxman. Its why wages never realistically go up with inflation, why stealth taxes are brought in through Westminsters back doors. Why parking charges go up every year etc, all chipping away at the masses.so the rich become even wealthier.
     
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  19. YungNath

    YungNath Impact Sub

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    It demonstrably isn't. 41% of deals got pulled after the budget, not before. They also don't know what deals to offer based on volatility in the currency markets. And because the pound is so weak people will have a shit load less money, because it makes imports more expensive, and given we have a fairly concerning trade deficit as it is, 1p off income tax won't matter shit to anyone, if it ever did anyway if we are paying more for everything.

    No we haven't haha what era was that? we've had 12 years of real terms cuts to everything including taxes. It's ideology and frankly discredited at that.
     
    Offcomedun and Get Rid Of It like this.
  20. trevor

    trevor Squad Player
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    She will be getting her hair and make up done next week to resemble Thatcher
     
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