| Inflation...good for the FTSE and big business. 08:47 - Apr 20 with 1269 views | BanksterDebtSlave |
Quelle surpris!
https://www.theguardian.com/commentisfree/2023/apr/19/wage-price-inflation-greed
"Despite attempts by ministers to finger workers for the persistence of the cost of living crisis, there is no real evidence that this is the case. Both the International Monetary Fund and the European Central Bank have looked at whether higher wages are driving up prices, and neither of those august bodies thinks that is happening.
What they have found is that companies have been able to use the crisis to drive up prices and boost profit margins. The IMF and the ECB wouldn’t put it in these terms, of course, but both support the idea that companies are gouging their customers when they can. The non-technical term for what is going on is greedflation."
Keep slaving TWTD'ers.
[Post edited 20 Apr 2023 8:49]
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| Inflation...good for the FTSE and big business. on 09:01 - Apr 20 with 1205 views | DJR |
Interestingly (from the article), inflation in the eurozone currently stands at 6.9% which is lower than the 10.1% in the UK. And this despite the fact that much of the rest of Europe is probably more affected by the energy crisis than the UK which has wind power in its energy mix.
Indeed, proof of this is a trip I made to Spain a few weeks ago where the cost of a decent coffee or a small beer is not much higher than it was several years ago (1.20 Euros).
This suggests Brexit, and greedy or struggling businesses, are having a greater impact on inflation in the UK than elsewhere in western Europe.
Take, for instance, my broadband package which has just gone up by around 13% because it is linked to inflation plus 3%. That, to my mind, is taking the p*ss. [Post edited 20 Apr 2023 9:35]
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| Inflation...good for the FTSE and big business. on 09:03 - Apr 20 with 1203 views | Pinewoodblue |
Inflation reduces resistance to price increases. Consumers are less likely not to buy than previously.
It is no surprise that this is reflected in the perceived value (share price) of companies. |  |
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| Inflation...good for the FTSE and big business. on 09:21 - Apr 20 with 1148 views | Guthrum |
Got to fund their pet MPs' second incomes somehow. |  |
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| Inflation...good for the FTSE and big business. on 09:29 - Apr 20 with 1124 views | BanksterDebtSlave |
| Inflation...good for the FTSE and big business. on 09:21 - Apr 20 by Guthrum |
Got to fund their pet MPs' second incomes somehow. |
Great isn't it, paid relatively less and paying more than necessary. We're like puppies getting their tummies tickled while getting skinned! | |
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| Inflation...good for the FTSE and big business. on 11:21 - Apr 20 with 1024 views | chicoazul |
Government loves inflation too. All that juicy VAT. |  |
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| Inflation...good for the FTSE and big business. on 11:37 - Apr 20 with 1014 views | tractordownsouth |
Given that increasing supply costs (and in many cases higher profit margins) were much bigger factors in driving up prices than demand, it's little surprise that increases in interest rates haven't had the desired effect in reducing inflation. |  |
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| Inflation...good for the FTSE and big business. on 07:39 - Apr 21 with 846 views | BanksterDebtSlave |
On being fleeced, part 2.
https://www.theguardian.com/money/2023/apr/21/uk-forecourt-owners-accused-of-cha
Steve Gooding, the director of the RAC Foundation, said: “Diesel drivers could be forgiven for thinking they’re being taken advantage of. The wholesale price of the fuel is now below that of petrol yet still costs 15p a litre or so more at the pumps, much more than the historical gap of between 5p and 10p.” | |
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| Inflation...good for the FTSE and big business. on 07:55 - Apr 21 with 826 views | Herbivore |
It helps that we have a government that is happy to be compliant in making the rich richer and a populace cowed by a largely right wing media acting against the interests of the majority, coupled with poor political and economic literacy in the UK. All of these things mean we are ripe targets for being fleeced whilst nodding along and accepting that it's all completely beyond the control of big business and government to do anything about it. |  |
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| Inflation...good for the FTSE and big business. on 08:01 - Apr 21 with 831 views | noggin |
| Inflation...good for the FTSE and big business. on 07:55 - Apr 21 by Herbivore |
It helps that we have a government that is happy to be compliant in making the rich richer and a populace cowed by a largely right wing media acting against the interests of the majority, coupled with poor political and economic literacy in the UK. All of these things mean we are ripe targets for being fleeced whilst nodding along and accepting that it's all completely beyond the control of big business and government to do anything about it. |
Spot on. |  |
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| Inflation...good for the FTSE and big business. on 08:47 - Apr 21 with 784 views | Churchman |
The conservates believe in deregulation and small government. Let the markets decide. The private sector will provide all your solutions quicker, cheaper, more efficiently (paraphrase Francis Maude). Free up business and Britain will boom. If it’s owned by the public (Rail, telecoms, gas, leccy, water, housing stock, channel tunnel, public buildings etc), sell it off. Trouser the money and it’ll all be far more efficient.
A flawed, disastrous policy for forty years. Please don’t misunderstand me. I’m a big believer in private enterprise, competition and the free market. It is how the world goes round and it’s not going away. The trick is to regulate and facilitate it. There are some areas such as most of the stuff sold off for peanuts, where this was never going to be anything other an act of madness and we are now paying the true cost. Of course EDF, water companies etc are ramping up the price here. Here, they can squeeze profits for little investment. Why would they not?
Same for everyone. Britain thanks to Brexit is a restricted but largely unregulated market. It produces virtually nothing, has a large population just waiting to be milked. Get in there!! If you are a supermarket chain, have a word with your peers and fix prices. If you supply cars, there’s a shortage - ramp up the prices. Building materials, you name it.
The interesting one is dairy. The U.K. is self sufficient in milk and most milk products, yet everyone is rowing in and filling their financial boots. I don’t blame them. It’s a free for all. Of course there is profiteering and price fixing. It’s logical and it’s what the free market will do if you let it. And who benefits the most? The very people that tell nurses etc that they are not entitled to a decent living wage because it’s inflationary - which it isn’t.
There are solutions, but they’re not going to happen for the foreseeable. The first action is to consign these clowns in government to history. The second is to negotiate a sane relationship with the EU. If that means humble pie and increased contributions so what - that’s nothing to what this benefit free disaster is costing us. At the same time, start beefing up regulatory bodies. There’s many other things I’d look at, but this rant is already gone on too long. |  | | |
| Inflation...good for the FTSE and big business. on 09:06 - Apr 21 with 767 views | DJR |
| Inflation...good for the FTSE and big business. on 08:47 - Apr 21 by Churchman |
The conservates believe in deregulation and small government. Let the markets decide. The private sector will provide all your solutions quicker, cheaper, more efficiently (paraphrase Francis Maude). Free up business and Britain will boom. If it’s owned by the public (Rail, telecoms, gas, leccy, water, housing stock, channel tunnel, public buildings etc), sell it off. Trouser the money and it’ll all be far more efficient.
A flawed, disastrous policy for forty years. Please don’t misunderstand me. I’m a big believer in private enterprise, competition and the free market. It is how the world goes round and it’s not going away. The trick is to regulate and facilitate it. There are some areas such as most of the stuff sold off for peanuts, where this was never going to be anything other an act of madness and we are now paying the true cost. Of course EDF, water companies etc are ramping up the price here. Here, they can squeeze profits for little investment. Why would they not?
Same for everyone. Britain thanks to Brexit is a restricted but largely unregulated market. It produces virtually nothing, has a large population just waiting to be milked. Get in there!! If you are a supermarket chain, have a word with your peers and fix prices. If you supply cars, there’s a shortage - ramp up the prices. Building materials, you name it.
The interesting one is dairy. The U.K. is self sufficient in milk and most milk products, yet everyone is rowing in and filling their financial boots. I don’t blame them. It’s a free for all. Of course there is profiteering and price fixing. It’s logical and it’s what the free market will do if you let it. And who benefits the most? The very people that tell nurses etc that they are not entitled to a decent living wage because it’s inflationary - which it isn’t.
There are solutions, but they’re not going to happen for the foreseeable. The first action is to consign these clowns in government to history. The second is to negotiate a sane relationship with the EU. If that means humble pie and increased contributions so what - that’s nothing to what this benefit free disaster is costing us. At the same time, start beefing up regulatory bodies. There’s many other things I’d look at, but this rant is already gone on too long. |
Very well put. | | | |
| Inflation...good for the FTSE and big business. on 09:31 - Apr 21 with 717 views | Darth_Koont |
| Inflation...good for the FTSE and big business. on 08:47 - Apr 21 by Churchman |
The conservates believe in deregulation and small government. Let the markets decide. The private sector will provide all your solutions quicker, cheaper, more efficiently (paraphrase Francis Maude). Free up business and Britain will boom. If it’s owned by the public (Rail, telecoms, gas, leccy, water, housing stock, channel tunnel, public buildings etc), sell it off. Trouser the money and it’ll all be far more efficient.
A flawed, disastrous policy for forty years. Please don’t misunderstand me. I’m a big believer in private enterprise, competition and the free market. It is how the world goes round and it’s not going away. The trick is to regulate and facilitate it. There are some areas such as most of the stuff sold off for peanuts, where this was never going to be anything other an act of madness and we are now paying the true cost. Of course EDF, water companies etc are ramping up the price here. Here, they can squeeze profits for little investment. Why would they not?
Same for everyone. Britain thanks to Brexit is a restricted but largely unregulated market. It produces virtually nothing, has a large population just waiting to be milked. Get in there!! If you are a supermarket chain, have a word with your peers and fix prices. If you supply cars, there’s a shortage - ramp up the prices. Building materials, you name it.
The interesting one is dairy. The U.K. is self sufficient in milk and most milk products, yet everyone is rowing in and filling their financial boots. I don’t blame them. It’s a free for all. Of course there is profiteering and price fixing. It’s logical and it’s what the free market will do if you let it. And who benefits the most? The very people that tell nurses etc that they are not entitled to a decent living wage because it’s inflationary - which it isn’t.
There are solutions, but they’re not going to happen for the foreseeable. The first action is to consign these clowns in government to history. The second is to negotiate a sane relationship with the EU. If that means humble pie and increased contributions so what - that’s nothing to what this benefit free disaster is costing us. At the same time, start beefing up regulatory bodies. There’s many other things I’d look at, but this rant is already gone on too long. |
A very good summary.
Although Continuity Labour over the last 40 years has pretty much embraced the same settlement. And, coming from them now, there’s still the mantra of private enterprise and economic growth as the panacea for all our ills.
I’d suggest, like your post alludes to, the panacea is a fundamental shift in who runs what and in whose interests. The UK power structure is ridiculously lop-sided against the interests of the majority – to an almost unique degree for a Western developed nation in 2023. |  |
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| Inflation...good for the FTSE and big business. on 11:08 - Apr 21 with 657 views | chicoazul |
| Inflation...good for the FTSE and big business. on 08:47 - Apr 21 by Churchman |
The conservates believe in deregulation and small government. Let the markets decide. The private sector will provide all your solutions quicker, cheaper, more efficiently (paraphrase Francis Maude). Free up business and Britain will boom. If it’s owned by the public (Rail, telecoms, gas, leccy, water, housing stock, channel tunnel, public buildings etc), sell it off. Trouser the money and it’ll all be far more efficient.
A flawed, disastrous policy for forty years. Please don’t misunderstand me. I’m a big believer in private enterprise, competition and the free market. It is how the world goes round and it’s not going away. The trick is to regulate and facilitate it. There are some areas such as most of the stuff sold off for peanuts, where this was never going to be anything other an act of madness and we are now paying the true cost. Of course EDF, water companies etc are ramping up the price here. Here, they can squeeze profits for little investment. Why would they not?
Same for everyone. Britain thanks to Brexit is a restricted but largely unregulated market. It produces virtually nothing, has a large population just waiting to be milked. Get in there!! If you are a supermarket chain, have a word with your peers and fix prices. If you supply cars, there’s a shortage - ramp up the prices. Building materials, you name it.
The interesting one is dairy. The U.K. is self sufficient in milk and most milk products, yet everyone is rowing in and filling their financial boots. I don’t blame them. It’s a free for all. Of course there is profiteering and price fixing. It’s logical and it’s what the free market will do if you let it. And who benefits the most? The very people that tell nurses etc that they are not entitled to a decent living wage because it’s inflationary - which it isn’t.
There are solutions, but they’re not going to happen for the foreseeable. The first action is to consign these clowns in government to history. The second is to negotiate a sane relationship with the EU. If that means humble pie and increased contributions so what - that’s nothing to what this benefit free disaster is costing us. At the same time, start beefing up regulatory bodies. There’s many other things I’d look at, but this rant is already gone on too long. |
What regulation has gone under the Tories? Which government departments have shrunk or ceased to exist? How many people work in the public sector now compared to 2009? | |
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| Inflation...good for the FTSE and big business. on 11:20 - Apr 21 with 644 views | DJR |
| Inflation...good for the FTSE and big business. on 11:08 - Apr 21 by chicoazul |
What regulation has gone under the Tories? Which government departments have shrunk or ceased to exist? How many people work in the public sector now compared to 2009? |
According to the following, there are around 300,000 fewer employees in the public sector compared to 2009, despite the population of the UK going up by many millions.
https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/publicsectorperson
As regards deregulation, there are too many to mention (Grenfell anyone?), but abolition of rent controls and security of tenure (which took place in the 1980s) is right up there. [Post edited 21 Apr 2023 11:21]
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| Inflation...good for the FTSE and big business. on 11:24 - Apr 21 with 639 views | chicoazul |
| Inflation...good for the FTSE and big business. on 11:20 - Apr 21 by DJR |
According to the following, there are around 300,000 fewer employees in the public sector compared to 2009, despite the population of the UK going up by many millions.
https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/publicsectorperson
As regards deregulation, there are too many to mention (Grenfell anyone?), but abolition of rent controls and security of tenure (which took place in the 1980s) is right up there. [Post edited 21 Apr 2023 11:21]
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https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/publicsectorperson
Yours is the total public sector V mine which is central government. Sorry my bad; I did mean central government in my earlier post not the entire public sector.
I don’t understand your allusion to Grenfell. Those were regulations that weren’t followed (I believe). Regulations haven’t gone; they have changed name or form in many cases. [Post edited 21 Apr 2023 11:27]
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| Inflation...good for the FTSE and big business. on 11:30 - Apr 21 with 608 views | OldFart71 |
| Inflation...good for the FTSE and big business. on 09:01 - Apr 20 by DJR |
Interestingly (from the article), inflation in the eurozone currently stands at 6.9% which is lower than the 10.1% in the UK. And this despite the fact that much of the rest of Europe is probably more affected by the energy crisis than the UK which has wind power in its energy mix.
Indeed, proof of this is a trip I made to Spain a few weeks ago where the cost of a decent coffee or a small beer is not much higher than it was several years ago (1.20 Euros).
This suggests Brexit, and greedy or struggling businesses, are having a greater impact on inflation in the UK than elsewhere in western Europe.
Take, for instance, my broadband package which has just gone up by around 13% because it is linked to inflation plus 3%. That, to my mind, is taking the p*ss. [Post edited 20 Apr 2023 9:35]
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I would say that many Companies are profiteering. Some due to the pandemic where many struggled and they are making up for it. Some due to the fact that they can hide behind the fact that raw materials have increased substantially. This is why I question the BoE raising interest rates to reduce inflation as if a lot of the inflation is caused by outside factors raising interest rates won't quell raw material price rises. Although not being a raw material such things such as vegetables and fruit, wheat and barley, if there's a shortage due to the War in the Ukraine, bad harvests etc then like everything the price increases due to the quantity produced being less and the demand still being the same as it was before the shortages. |  | | |
| Inflation...good for the FTSE and big business. on 11:36 - Apr 21 with 596 views | DJR |
| Inflation...good for the FTSE and big business. on 11:24 - Apr 21 by chicoazul |
https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/publicsectorperson
Yours is the total public sector V mine which is central government. Sorry my bad; I did mean central government in my earlier post not the entire public sector.
I don’t understand your allusion to Grenfell. Those were regulations that weren’t followed (I believe). Regulations haven’t gone; they have changed name or form in many cases. [Post edited 21 Apr 2023 11:27]
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No worries.
As regards Grenfell, don't take my word for it, and don't forget, say, the buildings in Ipswich which are dangerous, and which can't all have been built in breach of regulations.
"Building regulations were "faulty and ambiguous" in the run-up to the Grenfell Tower fire, Housing Secretary Michael Gove has said - the first such admission by a government minister."
This is in stark contrast to the regulations which would have been in place when the block was originally built, where resident safety would have been paramount.
Indeed, evidence of fire safety being deregulated, was the fire safety inspections that my wife was expected to make of the premises occupied by a playgroup, a function that would at one time have been carried out by the fire brigade.
What the hell does she know about fire safety? [Post edited 21 Apr 2023 11:40]
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| Inflation...good for the FTSE and big business. on 12:07 - Apr 21 with 565 views | SuperKieranMcKenna |
| Inflation...good for the FTSE and big business. on 11:30 - Apr 21 by OldFart71 |
I would say that many Companies are profiteering. Some due to the pandemic where many struggled and they are making up for it. Some due to the fact that they can hide behind the fact that raw materials have increased substantially. This is why I question the BoE raising interest rates to reduce inflation as if a lot of the inflation is caused by outside factors raising interest rates won't quell raw material price rises. Although not being a raw material such things such as vegetables and fruit, wheat and barley, if there's a shortage due to the War in the Ukraine, bad harvests etc then like everything the price increases due to the quantity produced being less and the demand still being the same as it was before the shortages. |
Interest rates have been raised to follow the fed and prop up Sterling as much as a reaction to inflation. The strong dollar and declining pound post Brexit have left BoE with little choice.
As already pointed out inflation is running hotter than most of our peers in the EU despite their increased exposure to Russian energy sanctions. Still Bankster was told that Brexit would lead to price increases - give the public what they want! | | | |
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