| The "cost of living crisis" just continues. 07:31 - Nov 10 with 2484 views | noggin |
In the last 12 months, coffee has risen by 25%, fresh cod by 18%, eggs by 12.5%, bananas 12.8% and the list goes on. (This is in Norway but I presume it's similar in the UK?)
Obviously wages are not rising at anything like those figures, so why are prices continuing to rise so quickly? It must be a huge struggle for many families, lower paid workers and the unemployed. Maybe it's time to return to eating local and seasonal produce, although cod is local here and it's becoming a luxury for most people. |  |
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| The "cost of living crisis" just continues. on 10:11 - Nov 10 with 638 views | Ely_Blue |
| The "cost of living crisis" just continues. on 10:03 - Nov 10 by noggin |
But someone, somewhere is increasing their profits. |
I never mention profits anywhere!
Why does someone have to be increasing their profits?
If you are a farmer and your yields are down so you are only getting say 75% of the crop that you got last year you still have the same overheads so therefore still have to cover those. Somewhere the lost revenue has to be made up for those at the start of the chain, even if everyone else still only adds on their same % profits as previous the end price will jump |  |
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| The "cost of living crisis" just continues. on 10:20 - Nov 10 with 615 views | noggin |
| The "cost of living crisis" just continues. on 10:11 - Nov 10 by Ely_Blue |
I never mention profits anywhere!
Why does someone have to be increasing their profits?
If you are a farmer and your yields are down so you are only getting say 75% of the crop that you got last year you still have the same overheads so therefore still have to cover those. Somewhere the lost revenue has to be made up for those at the start of the chain, even if everyone else still only adds on their same % profits as previous the end price will jump |
Fair enough, but I think the major supermarket chains or their agents, rather than the farmers, often dictate what the farmers receive for their stock. [Post edited 10 Nov 10:21]
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| The "cost of living crisis" just continues. on 10:53 - Nov 10 with 553 views | J2BLUE |
| The "cost of living crisis" just continues. on 09:55 - Nov 10 by baxterbasics |
This is also the situation discussed in "How to Own the World" by Andrew Craig.
Because governments are addicted to borrow/tax and spend, inflation is a perpetual destroyer of our cash. The only way to beat it is investing in actual finite "stuff" - stocks and shares, gold, property, yes bitcoin too (not actual stuff but supply is still finite). Anything government can't just print more of. Do everything you can to get out of the 'living paycheque to paycheque" life and start putting what you can aside into some kind of investment. We should be teaching our kids to do this from day 1 too. Even if all they can save is £20 a month from their McDonalds wages. Got to start somewhere.
Whish I had figured this out before I hit 40 and already had family bills to pay. |
Cheers, will take a look at that book.
I must admit Gary Stevenson was the final piece of the puzzle for me. I knew about inflation. I've been buying silver since it was £9.50 an ounce VAT free from Guernsey but he was the final piece of the puzzle.
Even Wall Street is catching on now with the 'debasement trade'.
I am throwing as much money as I can at finite assets while I have spare cash. |  |
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| The "cost of living crisis" just continues. on 11:01 - Nov 10 with 524 views | Freddies_Ears |
| The "cost of living crisis" just continues. on 08:05 - Nov 10 by LutherBlissett |
Seems a pack of beef mince almost doubled in price overnight. I almost swore in front of the other shoppers. Needless to say, I gave that spag bol my undivided attention. |
As a money-saving hint, you can bulk out mince by adding a can of green lentils. Similar consistency & neutral taste. Also means you could buy 10% fat mince as you'd be using far less. |  | | |
| The "cost of living crisis" just continues. on 11:09 - Nov 10 with 508 views | Freddies_Ears |
| The "cost of living crisis" just continues. on 10:09 - Nov 10 by bracknell_blue |
Another Brexit benefit? Sure looks like it. |
Even I, arch-Europhile, wouldn't blame Brexit for all of UK's inflation. Some of it, obviously (increased cost of trade to to massive hike in paperwork / red tape, strangely the opposite to what we were promised by the Leave lot).
I still spend a couple of months each year in Spain / France. Local complaints about inflation & cost of living are per UK. Noticeably, shop prices are considerably lower for me in those countries.
But petrol / diesel is really cheap in the UK, due to the power of our motoring lobby and cowardice of successive govts. | | | |
| The "cost of living crisis" just continues. on 11:56 - Nov 10 with 456 views | baxterbasics |
Lol
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| The "cost of living crisis" just continues. on 12:14 - Nov 10 with 430 views | leitrimblue |
| The "cost of living crisis" just continues. on 08:00 - Nov 10 by BanksterDebtSlave |
We certainly seem to be working harder to essentially stand still financially (no increase in savings, holidays unaffordable) The hourly rate we would have to charge for gardening to address this situation doesn't sit comfortably with us so for now we are just swallowing it. Only a state pension to look forward to as well so we could do with being able to save. |
Yer just gonna have to pass the extra costs ( or at least a portion of those extra costs) on to yer customers.
Just explain to um beforehand how the price of fuel etc as gone up and its not sustainable going forward charging your current rates
I added €50 a day on to my price during the summer. Told my clients this was due to the increase in fuel etc.
Was really more to do with the €1 increase in a 10 pack of Tunnocks Teacakes, but they don't need to know the inner details of my accounts  |  | | |
| The "cost of living crisis" just continues. on 12:22 - Nov 10 with 413 views | nrb1985 |
| The "cost of living crisis" just continues. on 10:53 - Nov 10 by J2BLUE |
Cheers, will take a look at that book.
I must admit Gary Stevenson was the final piece of the puzzle for me. I knew about inflation. I've been buying silver since it was £9.50 an ounce VAT free from Guernsey but he was the final piece of the puzzle.
Even Wall Street is catching on now with the 'debasement trade'.
I am throwing as much money as I can at finite assets while I have spare cash. |
If there was really a "debasement" trade then US 10 yr yields wouldn't be sub 4%.
More utter nonsense put out there by dear Gary. | | | |
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| The "cost of living crisis" just continues. on 12:36 - Nov 10 with 379 views | J2BLUE |
| The "cost of living crisis" just continues. on 12:22 - Nov 10 by nrb1985 |
If there was really a "debasement" trade then US 10 yr yields wouldn't be sub 4%.
More utter nonsense put out there by dear Gary. |
That's not coming from Gary, that's coming from Wall Street.
I don't think Gary needs to put out nonsense. He had publicly mentioned things he is invested in which have since gone up a lot.
Anyone taking 4% yielding bonds are absolutely nuts. | |
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| The "cost of living crisis" just continues. on 12:42 - Nov 10 with 371 views | nrb1985 |
| The "cost of living crisis" just continues. on 12:36 - Nov 10 by J2BLUE |
That's not coming from Gary, that's coming from Wall Street.
I don't think Gary needs to put out nonsense. He had publicly mentioned things he is invested in which have since gone up a lot.
Anyone taking 4% yielding bonds are absolutely nuts. |
"I don't think Gary needs to put out nonsense. He had publicly mentioned things he is invested in which have since gone up a lot"
Yes no sh1t, we are in an almighty Bull market and the Fed are cutting rates into a growing economy - EVERYTHING has gone up! Stocks, bonds, credit, commodities - the lot!
And Gary does need to put out nonsense, because that's what generates clicks and engagement for him. | | | |
| The "cost of living crisis" just continues. on 12:51 - Nov 10 with 353 views | J2BLUE |
| The "cost of living crisis" just continues. on 12:42 - Nov 10 by nrb1985 |
"I don't think Gary needs to put out nonsense. He had publicly mentioned things he is invested in which have since gone up a lot"
Yes no sh1t, we are in an almighty Bull market and the Fed are cutting rates into a growing economy - EVERYTHING has gone up! Stocks, bonds, credit, commodities - the lot!
And Gary does need to put out nonsense, because that's what generates clicks and engagement for him. |
Is it a coincidence everything is going up? Do you not believe it's anything to do with an increase in the global money supply?
75% increase in global M2 since 2017. Have you seen the S&P 500 and Nasdaq charts (where their price three months later) very closely follows the money supply? | |
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| The "cost of living crisis" just continues. on 12:53 - Nov 10 with 349 views | cressi |
The UK is screwed big time whoever is in power. The tax threshold should be around seventeen thousand then it may actually help people who really need the money. | | | |
| The "cost of living crisis" just continues. on 13:04 - Nov 10 with 308 views | nrb1985 |
| The "cost of living crisis" just continues. on 12:51 - Nov 10 by J2BLUE |
Is it a coincidence everything is going up? Do you not believe it's anything to do with an increase in the global money supply?
75% increase in global M2 since 2017. Have you seen the S&P 500 and Nasdaq charts (where their price three months later) very closely follows the money supply? |
If you take out the top 7 AI related stocks the S&P has hardly budged for a while - have a look at the equal weight S&P and you'll see most companies haven't done a lot for a while - the tech companies are the ones driving returns not the liquidity.
The Nasdaq is almost entirely driven by those same factors, only turbo charged as it's almost 100% tech.
If you look at Gold, that's been on a tear since 2022 and the Russian invasion because central banks are buying more gold now instead of treasuries, not because it's finite, but because it can't be confiscated by the US. Similar story in BTC.
So everything has been going up for different reasons, not much of it has anything to do with liquidity and such assets having a finite supply.
The Fed until very recently have actually been tightening monetary conditions and doing QT which is the opposite to QE.
The increased M2 supply recently was almost almost all to do with the liquidity supplied to the regional banks in March 2023 to prevent a crisis since the SVB debacle. Arguably very little of that found it's way into the real economy.
But, I'm sure Gary is right and I'm wrong. [Post edited 10 Nov 13:05]
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| The "cost of living crisis" just continues. on 13:07 - Nov 10 with 297 views | DarkBrandon |
| The "cost of living crisis" just continues. on 12:53 - Nov 10 by cressi |
The UK is screwed big time whoever is in power. The tax threshold should be around seventeen thousand then it may actually help people who really need the money. |
I completely disagree.
Taxes are something we (should) all pay, and contribute to things we all need. At various times of life. Healthcare, Education, Benefits.
They shouldn't be viewed as something "other people" pay.
Certainly the rich should pay more - considerably more - than the poor, but I'd like to see a certain contribution by everyone. Even if it just a pound. Or 10p. Then everyone can feel they have made their contribution to what is around them.
This would never happen of course because the administrative cost of taking 10p off everyone who works below the income tax threshold would be too great, but I wish there was an easy way.
To address your point more directly however, if you want to help those people in low paid employment, the most effective way is to increase the value of in-work benefits. Either in absolute terms, or by reducing the taper rates. Increasing the threshold is inefficient because money goes to everybody earning above the threshold, no matter how high their salaries. |  | | |
| The "cost of living crisis" just continues. on 13:09 - Nov 10 with 286 views | DarkBrandon |
| The "cost of living crisis" just continues. on 08:00 - Nov 10 by BanksterDebtSlave |
We certainly seem to be working harder to essentially stand still financially (no increase in savings, holidays unaffordable) The hourly rate we would have to charge for gardening to address this situation doesn't sit comfortably with us so for now we are just swallowing it. Only a state pension to look forward to as well so we could do with being able to save. |
I worry that my gardener is the same as you, and his margins are falling as a result. I think he should charge a premium for the stuff he puts on my land (top-soil, seed and so forth) to compensate for his time in arranging the deliveries.
He never does however. | | | |
| The "cost of living crisis" just continues. on 13:24 - Nov 10 with 248 views | CoachRob |
| The "cost of living crisis" just continues. on 13:04 - Nov 10 by nrb1985 |
If you take out the top 7 AI related stocks the S&P has hardly budged for a while - have a look at the equal weight S&P and you'll see most companies haven't done a lot for a while - the tech companies are the ones driving returns not the liquidity.
The Nasdaq is almost entirely driven by those same factors, only turbo charged as it's almost 100% tech.
If you look at Gold, that's been on a tear since 2022 and the Russian invasion because central banks are buying more gold now instead of treasuries, not because it's finite, but because it can't be confiscated by the US. Similar story in BTC.
So everything has been going up for different reasons, not much of it has anything to do with liquidity and such assets having a finite supply.
The Fed until very recently have actually been tightening monetary conditions and doing QT which is the opposite to QE.
The increased M2 supply recently was almost almost all to do with the liquidity supplied to the regional banks in March 2023 to prevent a crisis since the SVB debacle. Arguably very little of that found it's way into the real economy.
But, I'm sure Gary is right and I'm wrong. [Post edited 10 Nov 13:05]
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Right, how very interesting.
https://fred.stlouisfed.org/graph/fredgraph.png?g=1NN6z&height=490 |  | | |
| The "cost of living crisis" just continues. on 13:29 - Nov 10 with 237 views | nrb1985 |
I'm not sure if what I'm looking at here is going to get me a whoosh but the graph simply illustrates what I said no?
Once the Fed started raising rates at the beginning of 2022 financial conditions tightened. And then inflect higher around March 2023 due to the back stop given to the regional banks.
Might be a whoosh coming my as I said but get the feeling you were trying to prove something different? [Post edited 10 Nov 15:14]
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| The "cost of living crisis" just continues. on 13:34 - Nov 10 with 212 views | lowhouseblue |
so massive qe to deal with covid followed by qt. and? |  |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| The "cost of living crisis" just continues. on 13:34 - Nov 10 with 212 views | J2BLUE |
| The "cost of living crisis" just continues. on 13:04 - Nov 10 by nrb1985 |
If you take out the top 7 AI related stocks the S&P has hardly budged for a while - have a look at the equal weight S&P and you'll see most companies haven't done a lot for a while - the tech companies are the ones driving returns not the liquidity.
The Nasdaq is almost entirely driven by those same factors, only turbo charged as it's almost 100% tech.
If you look at Gold, that's been on a tear since 2022 and the Russian invasion because central banks are buying more gold now instead of treasuries, not because it's finite, but because it can't be confiscated by the US. Similar story in BTC.
So everything has been going up for different reasons, not much of it has anything to do with liquidity and such assets having a finite supply.
The Fed until very recently have actually been tightening monetary conditions and doing QT which is the opposite to QE.
The increased M2 supply recently was almost almost all to do with the liquidity supplied to the regional banks in March 2023 to prevent a crisis since the SVB debacle. Arguably very little of that found it's way into the real economy.
But, I'm sure Gary is right and I'm wrong. [Post edited 10 Nov 13:05]
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Interesting perspective. Not sure why you have such a chip on your shoulder though? | |
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| The "cost of living crisis" just continues. on 13:40 - Nov 10 with 198 views | nrb1985 |
| The "cost of living crisis" just continues. on 13:34 - Nov 10 by J2BLUE |
Interesting perspective. Not sure why you have such a chip on your shoulder though? |
You're right, I do and it comes from being a patriot.
Gary is like Farage, selling half truths to people less informed than him and trying to turn people against each other. I despise that whether it be against migrants or entrepreneurs or higher rate tax payers or any other cohort. Playground politics - them and us.
The country is where it is because of the choices of elected governments. Not because there are too many people coming in by boats nor because successful people don't pay enough tax.
PS - what I articulated in my previous post isn't a perspective, it's objectively true. [Post edited 10 Nov 13:47]
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| The "cost of living crisis" just continues. on 13:47 - Nov 10 with 161 views | J2BLUE |
That is for the US, not global money supply which keeps going up.
I suspect we are going to see a return to QE very soon as the US has to rollover their debt and foreign nations are less keen to buy. | |
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| The "cost of living crisis" just continues. on 13:47 - Nov 10 with 160 views | LutherBlissett |
Can we get back to talking about mince fat ratios, please?
I was enjoying that. | | | |
| The "cost of living crisis" just continues. on 13:53 - Nov 10 with 132 views | nrb1985 |
| The "cost of living crisis" just continues. on 13:47 - Nov 10 by J2BLUE |
That is for the US, not global money supply which keeps going up.
I suspect we are going to see a return to QE very soon as the US has to rollover their debt and foreign nations are less keen to buy. |
How are you going to do QE with inflation stuck at around 3%? | | | |
| The "cost of living crisis" just continues. on 13:53 - Nov 10 with 125 views | noggin |
| The "cost of living crisis" just continues. on 13:47 - Nov 10 by LutherBlissett |
Can we get back to talking about mince fat ratios, please?
I was enjoying that. |
Bloody mincer. | |
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| The "cost of living crisis" just continues. on 13:56 - Nov 10 with 112 views | lowhouseblue |
| The "cost of living crisis" just continues. on 13:47 - Nov 10 by J2BLUE |
That is for the US, not global money supply which keeps going up.
I suspect we are going to see a return to QE very soon as the US has to rollover their debt and foreign nations are less keen to buy. |
honest question - if the debasement trade is a major force wouldn't that lead to greater dollar weakness? taking any longer-term perspective and using the dollar index it isn't currently weak. doesn't that imply that the markets are assuming that us inflationary forces are weakening and that the strength of the us economy and the prospects of tech led growth are sufficient to sustain borrowing in the longer -term? i don't have an answer - but i'd expect debasement to be associated with a weak dollar.? | |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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