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How is inflation effecting you in 2022?


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14 minutes ago, kimchi said:

It's been a long time since I went to university. I was aware things had become very tough for students, but I am beyond shocked, that is absolutely outrageous 😮

12% Jesus 

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12% interest for higher earners, but  lower-earning graduate will see the interest rate increase from the current 1.5% to 9%. 

If a household in England has 2 adults with student loans, eat's food, dare puts the heating on or puts fuel in the car are going to be decimated, and all this is before interest rates rise.  

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1 hour ago, GoldDiggerDave said:

12% interest for higher earners, but  lower-earning graduate will see the interest rate increase from the current 1.5% to 9%. 

If a household in England has 2 adults with student loans, eat's food, dare puts the heating on or puts fuel in the car are going to be decimated, and all this is before interest rates rise.  

oh. I never knew higher earners had a different rate. Another thing was I thought the plan in Scotland was always calculated differently but I am now on plan 4 which is RPI or BOE interest rate + 1% whichever is lower. So in September mine will most likely be going to somewhere around 2-3%. I have been overpaying but I think I better start paying a good bit more. 

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@FlorinCollector it’s an insane prospect  not a case of whinging about the odd price hike, it’s criminal what most families are facing impossible for people to try and absorb hundreds of pounds more per month.  My neighbour has a good job but commutes 130+ miles a day and he’s wincing at fuel costs, and I know they both have student loans outstanding. 

There is quickly going to be a point of no return where people can not re budget, earn more or absorb these insane prices for any sustained period of time without a serious salary correction. 
 

 

 

 

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I was 'laughed off' by some Youtubers last year for saying that interest rates should have been much higher, and should have been gradually raised to much higher levels for years - 'oh they can't do that, it'll break the economy'. Well wtf else are we looking at now? :wacko:

And they hammer the students first with where interest rates should have been at least two years ago? WTF?

Outrageous.

1 hour ago, GoldDiggerDave said:

There is quickly going to be a point of no return where people can not re budget, earn more or absorb these insane prices for any sustained period of time without a serious salary correction.

But there will be no salary correction in the public sector (those in Government who give their mates billions to develop useless Track and Trace, or millions per day to store useless PPE, which also cost billions from their mates). Small businesses on the whole cannot afford to raise salaries at the same time costs are increasing (or have already increased) up to 100%. Hammered by Covid mandates our PM flouts with barely an apology, many of our last (remaining) small businesses are on their knees already...

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1 minute ago, kimchi said:

I was 'laughed off' by some Youtubers last year for saying that interest rates should have been much higher, and should have been gradually raised to much higher levels for years - 'oh they can't do that, it'll break the economy'. Well wtf else are we looking at now? :wacko:

And they hammer the students first with where interest rates should have been at least two years ago? WTF?

Outrageous.

But there will be no salary correction in the public sector (those in Government who give their mates billions to develop useless Track and Trace, or millions per day to store useless PPE, which also cost billions from their mates). Small businesses on the whole cannot afford to raise salaries at the same time costs are increasing (or have already increased) up to 100%. Hammered by Covid mandates our PM flouts with barely an apology, many of our last (remaining) small businesses are on their knees already...

I think that for once public sector have had less pay rise than private 

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Six months ago I had a nice chat with an old fella in my local chippie who'd been going there for 40 years plus. I went in about three weeks ago with the price hikes and I don't think I can afford it anymore myself :(

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Just now, kimchi said:

Six months ago I had a nice chat with an old fella in my local chippie who'd been going there for 40 years plus. I went in about three weeks ago with the price hikes and I don't think I can afford it anymore myself :(

Cuts some spuds up ya lazy sod! 😁

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3 minutes ago, HerefordBullyun said:

Cuts some spuds up ya lazy sod! 😁

I can, and I don't mind going without anyway, but who's looking after the folks in their 80s like this?

(I know you were joking pal but it's getting very serious!)

Edited by kimchi
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5 minutes ago, kimchi said:

I can, and I don't mind going without anyway, but who's looking after the folks in their 80s like this?

(I know you were joking pal but it's getting very serious!)

I am happy to donate a spud to the needy!

My nick name is spudgun anyway!

 

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@kimchi I have had this conversation with older people, the ones that love to say "well we had 15% interest rates"  What they don't say from the start of the 1970's to the end of the decade wages increased 240% and even in real terms the were 30% better off and a house was not 10-12x the basic wage.  We are going to see unprecedented economic turmoil for the masses in the country. 

If wages/salaries and state pensions don't move inline with inflation there will be millions in poverty by end of 2023 if not sooner.  

 

 

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3 minutes ago, GoldDiggerDave said:

@kimchi I have had this conversation with older people, the ones that love to say "well we had 15% interest rates"  What they don't say from the start of the 1970's to the end of the decade wages increased 240% and even in real terms the were 30% better off and a house was not 10-12x the basic wage.  We are going to see unprecedented economic turmoil for the masses in the country. 

If wages/salaries and state pensions don't move inline with inflation there will be millions in poverty by end of 2023 if not sooner. 

I agree with all of that - it has started :(

Which post of mine were you replying to though, please? I saw interest rates of 10%+ in the late 80s as a child, so no memory of the 70s at all, but studied economics in the 90s.

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With energy costs spiralling, perhaps we should prepare ourselves for the 3-day week!

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

Let not England forget her precedence of teaching nations how to live.

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