Just in case anyone thinks we are the only ones heading for blackouts and recession

[life on mars]

From Financial Times

Eurozone economy
Germany blames Putin for pushing economy towards recession

OCTOBER 13, 2022

We need to declare war it would be cheaper and creates jobs for growth via manufacturing

[JamesWales]

In the last few days from one website in Germany alone:

Germany's beleaguered middle class and the fear of social decline
https://www.dw.com/en/germanys-belea...ine/a-63418628

Germany headed for recession in 2023, says economy minister
https://www.dw.com/en/germany-headed...ter/a-63417843

Energy crisis: Europe faces winter(s) of discontent with high prices here to stay
https://www.dw.com/en/energy-crisis-...tay/a-63412238

Greta slams Germany for ditching Nuclear
https://www.dw.com/en/greta-thunberg...oal/a-63406732

What Poverty looks like in rich Germany
https://www.dw.com/en/germany-what-p...try/a-63393501

EU hopes hinge on a mild winter
https://www.dw.com/en/forget-putin-e...ter/a-63215617

Why a strong dollar should worry you
https://www.dw.com/en/why-a-strong-d...you/a-63243063

This IS a global issue, particularly centred on Europe, of which we are a part. All governments are making good and bad decisions, and our mini budget was a bad word in terms of some content and it's delivery, but the fundamental issues are not being caused by any of the governments in question.

The entire continent and much beyond it is in a right mess

[Doucas]

Delusional, anything to protect your precious brexit, billionaires, tories etc. Why is the UK always always hit worse than others?

https://www.theguardian.com/business...efore-covid-19

https://www.theguardian.com/politics/2022/oct/12/uks-brexit-divorce-bill-stood-at-367bn-in-2021-eu-audit-reveals

https://www.thelondoneconomic.com/politics/what-have-we-done-brexit-costing-uk-100-billion-a-year-328442/

[life on mars]

More balance, yes USA controls world money markets, not throw under the bus Truss

The US central bank has imposed its third major interest rate rise in a row.

The Federal Reserve has once again hiked rates by 0.75 percentage points in an effort to curb soaring inflation.

The widely-expected rise will mean more expensive borrowing for the likes of mortgage holders and those paying credit card debt.

American interest rates now stand at 3% to 3.25%, up from 2.25% to 2.5% since the last increase in late July.

It's just one rise in the central bank's plan to raise interest rates to 4.4% by the end of 2022 and settle on 4.6% in 2023, it announced on Thursday. Such a rate would be the highest since 2007.

[Canton Kev]

So we're in the same position that Germany, who have a direct gas pipeline to Russia, are in? Surely we should be doing better than them, no? Also it begs the question how Brexit has been a benefit if after cutting ties with the EU we're still all in the same boat?

Speaking with friends in Norway, France and Bulgaria, I know for a fact my personal energy bills are increasing much more than theirs are.

[JamesWales]

Delusional, anything to protect your precious brexit, billionaires, tories etc. Why is the UK always always hit worse than others?

https://www.theguardian.com/business...efore-covid-19

https://www.theguardian.com/politics...-audit-reveals

https://www.thelondoneconomic.com/po...a-year-328442/

With respect Doucas, we simply are not. That really is not the case. And that is the central point of what I am trying to illustrate.

[JamesWales]

So we're in the same position that Germany, who have a direct gas pipeline to Russia, are in? Surely we should be doing better than them, no? Also it begs the question how Brexit has been a benefit if after cutting ties with the EU we're still all in the same boat?

Speaking with friends in Norway, France and Bulgaria, I know for a fact my personal energy bills are increasing much more than theirs are.

Actually, to be honest I think we are in a better position than Germany at the moment. Not in every respect but in more respects than not. And that doesn't change the fact the mini budget was appalling delivered or the fact that the govt hasn't made other mistakes, because they have - it's just the reality that the headwinds we face are not created or easily fixed domestically.

[Eric Cartman]

Actually, to be honest I think we are in a better position than Germany at the moment. Not in every respect but in more respects than not. And that doesn't change the fact the mini budget was appalling delivered or the fact that the govt hasn't made other mistakes, because they have - it's just the reality that the headwinds we face are not created or easily fixed domestically.

If we hadn't had 12 years of utter shit wage growth (for lower and middle earners) then we would be in a better position.

[JamesWales]

If we hadn't had 12 years of utter shit wage growth (for lower and middle earners) then we would be in a better position.

True or not, 12 years is the timescale the Labour party want to drill into people. It isn't so. 2008 was a turning point for a great many things, the global financial crisis.
Case in point: average wages actually fell (irrespective of inflation) in 2009. They grew every month in 2010. Of course, austerity then dampened everything, but that happened because of 2008 in itself.

[Canton Kev]

Actually, to be honest I think we are in a better position than Germany at the moment. Not in every respect but in more respects than not. And that doesn't change the fact the mini budget was appalling delivered or the fact that the govt hasn't made other mistakes, because they have - it's just the reality that the headwinds we face are not created or easily fixed domestically.

Germany gets something like 30%-40% of their gas from Russia compared to us where less than 5% of our gas is supplied by Russia. We absolutely should be in a better position than Germany and mainland Europe.

[superfeathers]

This seems to be the government line at the moment. It’s happening everywhere.. and so on.

I don’t know that anyone is disputing that these are worldwide issues.

The fact remains, and you can’t disguise, that poor government and poor decisions continue to make a bad situation worse

But let’s not play the blame game, because Germany are arguably worse. Talk about a race to the bottom

[superfeathers]

This seems to be the government line at the moment. It’s happening everywhere.. and so on.

I don’t know that anyone is disputing that these are worldwide issues.

The fact remains, and you can’t disguise, that poor government and poor decisions continue to make a bad situation worse

But let’s not play the blame game, because Germany are arguably worse. Talk about a race to the bottom

The £ getting a big bump at the moment, at the same time as rumours of the biggest u turn most of us will have ever seen. I'm sure Rees-Mogg will think of something else that has caused it. Or something similar has happened in Germany. Or Timbuktu.

Another coincidence.

Or will they look to take credit for this one? She has listened

I'm so confused. She's finished

[SLUDGE FACTORY]

Tory party members on here desperately clinging on

They need to be put in a home for the terminally belligerent and stupid

[Dorcus]

Tory party members on here desperately clinging on

They need to be put in a home for the terminally belligerent and stupid

Shall we start a fundraiser for the poor blighters?

[Wales-Bales]

I can still remember the days when the great reset was merely a Ballon d'Or winning conspiracy theory in Cyril's mind.

[A Quiet Monkfish]

So we're in the same position that Germany, who have a direct gas pipeline to Russia, are in? Surely we should be doing better than them, no? Also it begs the question how Brexit has been a benefit if after cutting ties with the EU we're still all in the same boat?

Speaking with friends in Norway, France and Bulgaria, I know for a fact my personal energy bills are increasing much more than theirs are.

I've just returned from West Wales. A couple from Flanders [Belgium] were staying in the same B&B and we had a good old moan together. They're in their 60's - like us - but because of separate divorces etc, live apart in their own houses. They've just booked a 3 month holiday in Spain to start early November. The simple reason is they figure their combined energy bills for those 3 months will be more than the holiday.

[superfeathers]

I've just returned from West Wales. A couple from Flanders [Belgium] were staying in the same B&B and we had a good old moan together. They're in their 60's - like us - but because of separate divorces etc, live apart in their own houses. They've just booked a 3 month holiday in Spain to start early November. The simple reason is they figure their combined energy bills for those 3 months will be more than the holiday.

They must live in a 24/7 curry’s showroom with the heating on constantly and the windows open

[Taunton Blue Genie]

More balance, yes USA controls world money markets, not throw under the bus Truss

The US central bank has imposed its third major interest rate rise in a row.

The Federal Reserve has once again hiked rates by 0.75 percentage points in an effort to curb soaring inflation.

The widely-expected rise will mean more expensive borrowing for the likes of mortgage holders and those paying credit card debt.

American interest rates now stand at 3% to 3.25%, up from 2.25% to 2.5% since the last increase in late July.

It's just one rise in the central bank's plan to raise interest rates to 4.4% by the end of 2022 and settle on 4.6% in 2023, it announced on Thursday. Such a rate would be the highest since 2007.

Another LoM copy and paste job.

[Wales-Bales]

Another LoM copy and paste job.

Another TBG misdirection job. Don't watch that, watch this!