Reply With QuoteI'm 33 now, since I've been an adult I've never known a good economy. Is this really the best we can do? The tories are economically illiterate, you're a fool if you believe otherwise.
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Tough times if you have stretched your mortgage and not fixed or are coming out of a fixed rate in the next 12 months!
https://www.bbc.co.uk/news/business-62408868
I'm 33 now, since I've been an adult I've never known a good economy. Is this really the best we can do? The tories are economically illiterate, you're a fool if you believe otherwise.
Don't be silly, mun. We're still paying for the fact Labour screwed the world economy in 2008.Originally Posted by Doucas
Think the winter of discontent has got something to do with the problems the country is having currently as well.
Have you ever heard of Covid?
Are there Torries in America?
https://www.bbc.co.uk/news/business-61804877
US makes biggest interest rate rise in almost 30 years
Are the Torries in Europe ?
https://www.bbc.co.uk/news/business-62240730
Eurozone raises interest rates for first time in 11 years
You can't shut the World down for two years and expect everything to be hunky dory!
meanwhile.......Exxon Mobil made $18bn in profits in the past three months. Shell and Chevron each made nearly $12bn. Those are all record numbers.
Are Torries the same as 'bogg trotters'?
....and yet, the Tories blamed Labour in 2008. Weird huh? It's almost like, what's the word?....oh yeah, hypocrisy.
The rich get richer and the poor get poorer. Beautiful capitalism
Usual (mis)interpetation of the situation from Doucus, and usual insult aimed at anyone who thinks differently.
If only the economy was as predictable.
True, but why is it that the UK is predicted to have the lowest growth rate out of the G20 apart from Russia?
https://www.newstatesman.com/chart-o...ery-g20-russia
I might create some 3D game creatures for a survival horror RPG and call them Torries!
There is no good news around for anyone, but you needs to look at ACTUAL data, rather than predictions.
Usual real data, The UK currently has the second highest growth in the G20.
https://tradingeconomics.com/country...al-growth-rate
This of course is linked to the previous anaemic growth, but so too must future growth (or lack thereof) be compared to the more rapid growth mentioned above. All economies are on slightly different cycles following Covid.
The reality is, there is very little good news around for anyone
Absolutley the economy is unpredictable but I gave up on politics of any colour years ago because of the vacuous empty promises that they would trot out in manifestos and subsequent speeches that must have been signed off by Walt Disney
The reality is politicians in the main are in it for themselves and no one else and a % are getting extremely rich off the majorities misery and they are only concerned with self preservation
There is no integrity transparency or legitimacy in politics anymore
The common theme is right wing economics.
I think you are incorrect. Interest rates and inflation have been consistently low for most of your adult life compared to say the 1970's when interest and mortgage rates were in excess of 20%.
In answer to Eric's comment - labour did not ruin the economy. It was World factors including a virtual collapse in the Banking system internationally. Labour got the blame for the financial crisis in 2008 but later detailed analyses showed that the problems experienced were due to factors completely outside their control. Again the country is in a growing financial mess due to factors outside governmental control such as COVID fallout and the war in Ukraine (which alone adds around 13% to inflation). It's going to be rough for the next few years.
I don't know why people keep bringing up this interest rate nonsense. House prices were a fraction of what they are today so it's irrelevant.
Boomers when they were the same age as millenials had about 30% of the countries wealth, millenials have about 4%..
With interest rates 20 times higher than they are today it is not irrelevant. Where I agree with you is that house prices now are probably 10x higher than they were in the 1970's. Perhaps a better yardstick is to look at mortgage repayments in relation to house prices and salaries.
Labour were cringingly apologetic too. They sucked up way too much Tory propaganda and didn't fight it properly. They were weak then when it came to opposing Tory austerity.
Eh! The Tories didn't gain power until 2 years after the 2008 crisis; austerity came much later. I agree that was a very poor policy. We should have been expanding the economy and not reducing it. The argument that there was no money was clearly incorrect as £405bn was found to pay for COVID.
Apart from Shell, BP, Exxon Mobil, Centrica and all the other Oil companies.
Unfortunately a lot of truth in that.
If you keep printing money, eventually inflation will come. Capitalism and not so much corporatism is the way forward out this mess.
It's a Worldwide problem of high inflation caused by locking the World down for two years, global supply issues, and of couse the war in Ukraine and the high energy costs, it's a tough time but we've been through a lot worse.
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