Don't dare to look what has happened to your pension!
Yeah, my meagre pension pot has lost about 10% in value since the war began, but seems to have stabilised at that for now.
Australia seems quite badly affected
echoes of the great run on bog rolls in Oz during the pandemic...
live in a country which has low productivity
look at Ireland, a lot of that wealth and 'productivity' is centred on Dublin but has a wider benefit for a country with a relatively small population, the border might be more permeable than is suggested by those maps...
Don't dare to look what has happened to your pension! Early retirement isn't looking so good right now.
And it was looking Ok 3 months ago? Markets have only fallen back to that point. A little AI froth has been skimmed off - the Iran war has barely been priced in yet.
Yeah, my meagre pension pot has lost about 10% in value since the war began, but seems to have stabilized at that for now.
Yep, but I think that 10 year stock growth is about 300%, while wage growth is lagging way behind that, if you only have a meagre pension (as I do) then that 10% drop is **** all compared to how annoyed we should be about how much we actually get paid for the hours we work every month.
I don't think it's particularly helpful to pluck a stat or two out of the air and use it in isolation to compare countries. Rather, it's a lot more complex than that. Eg,
Over on Linked In, there's Americans posting about how their salary is offensive, it's no wonder they can't attract staff, etc etc. The numbers they're throwing around are over double anything I've ever seen. I'm thinking "I wish I had your salary concerns, mate." Then I watched a YouTube video with another bunch of Americans and this subject came up. The amount they have to pay out is astonishing. One guy's family healthcare insurance is a grand a month, and that's like our car insurance in so far as you still have an excess to pay on any claims so you typically wouldn't use it for day-to-day stuff like a GP visit, you still have to get your hand in your pocket for that. Woe betide you should need regular medication, drugs prices are obscene.
I don't think it's particularly helpful to pluck a stat or two out of the air and use it in isolation to compare countries. Rather, it's a lot more complex than that. Eg,
Over on Linked In, there's Americans posting about how their salary is offensive, it's no wonder they can't attract staff, etc etc. The numbers they're throwing around are over double anything I've ever seen. I'm thinking "I wish I had your salary concerns, mate." Then I watched a YouTube video with another bunch of Americans and this subject came up. The amount they have to pay out is astonishing. One guy's family healthcare insurance is a grand a month, and that's like our car insurance in so far as you still have an excess to pay on any claims so you typically wouldn't use it for day-to-day stuff like a GP visit, you still have to get your hand in your pocket for that. Woe betide you should need regular medication, drugs prices are obscene.
I've 2 frames of reference for this.
I managed a global team, someone who works for me is in the US, they earn significantly more than me but because of the difference in the cost of living they are considered to be on a below average wage (for the field).
I also have family in the States who have complained about their healthcare system regularly. They get what's considered to be a good level of care through their company scheme, but still have to pay huge excesses. Although the worst part of it is having to argue with the insurer to actually pay in the first place as they'll routinely reject claims in the first instance. On top of the stress and upset of going though a severe medical condition, you've had to fight for the company to cover the costs, and on top of that you then spend a significant sum on your excess. Long live the NHS (as flawed and struggling as it may be)!
I don't think it's particularly helpful to pluck a stat or two out of the air and use it in isolation to compare countries. Rather, it's a lot more complex than that. Eg,
Over on Linked In, there's Americans posting about how their salary is offensive, it's no wonder they can't attract staff, etc etc. The numbers they're throwing around are over double anything I've ever seen. I'm thinking "I wish I had your salary concerns, mate." Then I watched a YouTube video with another bunch of Americans and this subject came up. The amount they have to pay out is astonishing. One guy's family healthcare insurance is a grand a month, and that's like our car insurance in so far as you still have an excess to pay on any claims so you typically wouldn't use it for day-to-day stuff like a GP visit, you still have to get your hand in your pocket for that. Woe betide you should need regular medication, drugs prices are obscene.
Don't the yanks get like a week annual holiday too? Screw that...
Well they're a low tax country... except they're not because stuff like healthcare, kindergarten, decent services all become a stealth tax because you have to pay them. The consequences of getting sick or injured are unbelievably bad if you're poor - lose your home or addicted to painkillers are pretty normal.
The point of those maps is to give you a feeling of why stuff feels expensive in Britain, though it's everywhere in Europe. But as you drift down the economic rankings , you notice it around you. And bear in mind those are whole UK numbers - separate the UK by region and it's obvious why many people, many councils are overwhelmed by increasing costs.
And the solutions are not easy or painless ( and no I am absolutely thinking not thinking Liz Truss was on the right track)
I would have thought the money would be better used to invest in energy projects to the benefit of all over the long term and into the future.
I said exactly that last time we had government handouts, when the thing in Ukraine kicked off. If they had spent that money on insulation/double glazing/wind farms/whatever rather than temporarily subsidising fossil fuels where would we be now?
Also, if you spend £8bn on solar farms or whatever how many jobs does that support? How many does an £8bn bung to the energy companies support?
TBH due to how they calculate the leccy generation prices on the highest price, so highest gas price is used, £8bn on solar farms wouldn’t make a difference as they won’t pass that cheap electricity saving on on, the Gov should really look at policy on this.
Well they're a low tax country... except they're not because stuff like healthcare, kindergarten, decent services all become a stealth tax because you have to pay them. The consequences of getting sick or injured are unbelievably bad if you're poor - lose your home or addicted to painkillers are pretty normal.
The point of those maps is to give you a feeling of why stuff feels expensive in Britain, though it's everywhere in Europe. But as you drift down the economic rankings , you notice it around you. And bear in mind those are whole UK numbers - separate the UK by region and it's obvious why many people, many councils are overwhelmed by increasing costs.
And the solutions are not easy or painless ( and no I am absolutely thinking not thinking Liz Truss was on the right track)
Yep even in Spain the cost of living crises is playing out.
Americas on another level of insanity with their health insurance,they probably need another civil war,this time against the rich.
I suppose the issue is that the path a solution does have to be started and more austerity isn’t really going to work, as it it never has or just take the MP wages and let someone else worry about it later.
Of course the other problem is you can only vote for what you can vote for, so if no party has a desire for change there isn’t a way for it.
On top of the stress and upset of going though a severe medical condition, you've had to fight for the company to cover the costs, and on top of that you then spend a significant sum on your excess.
Healthcare bills is the number one cause of bankruptcy in the US I believe.
Don't the yanks get like a week annual holiday too? Screw that...
A good point.
I don't they're legally entitled to any? I'm not wholly sure whether they get paid leave even, if you're on leave you might not get paid. (Take all this with a pinch of salt, I'm really not certain at all.)
I have a friend in Chicago who was telling me, (before working for herself) she had a fixed number of sick days and leave days each year and they were essentially interchangeable, run out of one and you use the other.
Yep, GBenergy was meant to be a state energy generator, but after the 28 billion announcement, the wealthy and powerful told Starmer they want their profits, so he bottled it (SACO) and dropped the funding so the corporates can get their profits, and the debt gets put onto the public in future energy costs instead of the government balance sheet. And remember when he was challenged on the decision by teenagers, all the dumb prat could mumble was "I believe in growth" (of course he missed out he only believes in growth for the few while the rest lose).
Basically its a ****ing con job to funnel money up the ladder to the already wealthy, and once again events have shown how stupid, selfish and mentally lazy our leaders are.
Just spent the holiday fund on some kerosene!
Just shy of £800 !
But in the BIG scheme of things we are lucky really.
SO many people caught in terrible situations.
Just cycled past my local garage.
183.9p/l for diesel
154.9p/l for petrol
😯
Kind of glad I don't have a car at the moment, not sure I could afford to be putting any fuel in it!
Just cycled past my local garage.
183.9p/l for diesel
154.9p/l for petrol😯
Kind of glad I don't have a car at the moment, not sure I could afford to be putting any fuel in it!
”only” £1.45 litre unleaded to fill up at Dumfries earlier, was £1.35 two weeks ago
”only” £1.45 litre unleaded to fill up at Dumfries earlier, was £1.35 two weeks ago
Same here pretty much, the jump in diesel prices though is more marked, nearly £1.80 now, fortunately I don't need to drive much at the mo.
Over £1.85 for diesel here.
you think its bad now
theres a lot of people warming that this crisis is going to get exponentially worse the longer things go on
2 more weeks is likely to see the UK without enough diesel to meet our needs, prices will rocket & the spectre of rationing appears
https://bsky.app/profile/oldtrotter.bsky.social/post/3mi44mjpge22w
Trumps coup has been successful - the theocracy is replaced with a military dictatorship who seem to be setting up a permanent toll across the Strait of Hormuz, thats a disaster for the global economy
meanwhile this morning its confirmed the Houthis in Yemen have launched a ballistic missile and it looks like a $300million! AWACS plane at a US airbase in Iraq has been shaheded
you think its bad now
theres a lot of people warming that this crisis is going to get exponentially worse the longer things go on
2 more weeks is likely to see the UK without enough diesel to meet our needs, prices will rocket & the spectre of rationing appears
I realise that in the grand scheme of things, this one doesn't even move the dial, it's very much a First World Problem., but...
I'm working on another two bike races in the next month. It was already a pain (an expensive one!) filling up the sponsor-supplied race convoy vehicle a couple of weeks ago, the next two races are going to be way worse. You have the best part of 40-odd vehicles across two races (Men's & Women's) hitting up the local petrol station for full tanks, that'll be up against all the locals who need it for their daily lives (rather than poncing round and round in circles on bikes), possible rationing and long queues.
It's not going to be fun.
But I appreciate that it's way down on the list of Shit That's Going On Right Now.
But I appreciate that it's way down on the list of Shit That's Going On Right Now.
This is a cost of living thread though, I think it is ok to be concerned about that whilst still acknowledging that obviously others are impacted more deeply.
The impacts are real - people will start deciding to restrict their activities. Businesses are going to suffer.
Before this kicked off we were looking at changing our car - anybody want to buy a 9 year old diesel?
Before this kicked off we were looking at changing our car - anybody want to buy a 9 year old diesel?
I need a new car (new to me, not necessarily "new") but now I'm seriously considering not bothering and just hiring as and when I need it or reconsidering either EV or PHEV. EV is difficult cos I can't have home charging and using the public network was (when I started looking) near enough the same as relying on petrol / diesel. But it now looks like EV could be substantially cheaper that ICE, even using public chargers.
On the other hand I suspect there's going to be a big spike in demand for EV right about now and S/H PHEV are significantly more expensive to buy than a bog-standard petrol or diesel estate...
Unleaded is £1.49.9 at the end of my street but I pass a lot of places on my way to work and the cheapest I've found is £142.9 but telling perhaps that they'd run out of super unleaded and diesel.
However a can of Coke in the local "cheap" cafe is now £2.50, I know they have utilities and staff to pay for but what the actual flip? There's defo some crazy pricing going off, same with the supermarket, 1x twix £1.45 or 4x slightly smaller ones in a pack for £2, or even a pack of 9 Penguins for a pound. The pricing makes no sense logically, it's just lets keep pushing stuff as far as we can, especially if it's in the "convenience" bracket.
There's defo some crazy pricing going off, same with the supermarket, 1x twix £1.45 or 4x slightly smaller ones in a pack for £2, or even a pack of 9 Penguins for a pound. The pricing makes no sense logically,
I finally sussed this out earlier this year..... Basically shit is going up in price hugely. This isn't a problem if you are part of the rich establishment because the useful shit that you own ( assets) is also going up at a huge rate. So for the people with huge unearned wealth it's not an issue. It's just a problem for the people at the bottom who rely on this depreciating asset called money.
Like so many people I thought that saving will get you ahead and allow you options. It's complete bollocks unless you have the clout and attitude to invest it instead.
There's defo some crazy pricing going off, same with the supermarket, 1x twix £1.45 or 4x slightly smaller ones in a pack for £2, or even a pack of 9 Penguins for a pound.
Username checks out. 😁
It's always amused me that people who (rightly) balk at paying £1.50 for a litre of fuel then won't even blink at paying north of two quid for a 500ml bottle of water.
This isn't a problem if you are part of the rich establishment because the useful shit that you own ( assets) is also going up at a huge rate.
While I agree with your sentiment, it’s highly likely that asset values will also tumble, and more so than real wages, if both the USA and Russia up their aggression. Excluding oil companies that is, world politics seems to always favour them of course. Drill baby drill, burn baby burn.
Note also that it is the “anti-establishment” politicians serving the oil companies interests most strongly, with their mates making big money off of betting on their dangerous policies negatively effecting the economy, society and the planet.
Petrol and diesel should be more expensive, it's been kept unnaturally low by successive governments frightened of the Daily Mail & it's a very difficult and costly task to produce.
Water is an odd one through, you can often buy cheap basic lemonade for less than water. Again, no sense logically but products aren't priced logically, they are priced at what people will pay.
Kept unnaturally low? The tax rate is something like 40-50% on petrol. How on earth is that keeping it unnaturally low?
Kept unnaturally low? The tax rate is something like 40-50% on petrol. How on earth is that keeping it unnaturally low?
With enormous subsidies to the upstream O+G industry.
Energy in general gets a fair whack of government money. Although I'd rather that was more focused on renewables, what I don't know is how much of the O&G money is intended to secure supply, rather than simply chuck money people that don't need it.
The "Warm Homes Plan" is slated to be a fund of £15 billion by itself (a good thing). The figure I saw for O&G was up to £17.5b ( a year). Sizewell C is what. £14b.
I'm honestly curious as to how it all stacks up tbh if anyone has a concise report they can link to?
There's defo some crazy pricing going off, same with the supermarket, 1x twix £1.45 or 4x slightly smaller ones in a pack for £2, or even a pack of 9 Penguins for a pound.
Username checks out. 😁
It's always amused me that people who (rightly) balk at paying £1.50 for a litre of fuel then won't even blink at paying north of two quid for a 500ml bottle of water.
Pint of milk often the cheapest thing to drink in the supermarket. Which I don’t mind - milk is great. I suspect the dairy farmers aren’t getting great deal, but it’s one of those benchmark items people notice
though I only recently realised that skimmed has more protein than full fat. I knew it has half the calories, but not hadn’t registered the protein.
we also live in a world where buying a jam jar (empty) costs more than buying a jar of jam. Jar included.
Pint of milk often the cheapest thing to drink in the supermarket
They're very expensive compared to the price of a 4-pinter!
we also live in a world where buying a jam jar (empty) costs more than buying a jar of jam. Jar included.
Yeah, I make apple chutney with fruit from our tree every year and gift it to friends. By the time I've bought jars and the other ingredients it would be much cheaper (though less personal) to just buy it.
With enormous subsidies to the upstream O+G industry
While your understandably outraged by the headline figure
Our PM has cut fuel excise by half for three months, saving us a whopping 26c per litre despite the fact fuel has gone up so much (1.55 to 2.65+ for petrol and 1.70 to over $3 in some places.... Some states have made public transport free, or just 50c to travel. No such discounts here in WA. So really we're no better off we've just returned to week one war petrol prices.
Huzzah.
I feel we are at least partially responsible for high inflation, collectively.
At the end of the day it's just basic supply and demand economics.
And we probably demand a little too much:
- too much tat, mostly Chinese.
- too much oil, mostly paid in USD
- too much arrogance, Brexit etc.
- too much shit food, ultra processed etc
- too much obesity as a consequence so too much reliance on healthcare
At the same time we have become less productive so that's not a great combo for growth.
Currently have 16 servos with no petrol or diesel. (Both Costco's dry). 13 without petrol and 17 without diesel. Easter Long weekend too.
very few stations round here have fuel - those that do are ~2.00/l
i put in 50 quid earlier - 1/4 tank !
At the same time we have become less productive so that's not a great combo for growth.
Have we though? I'm pretty sure I get a shit load more done at work than when computers didn't exist etc
I know its obviously more complicated but part of me would like to see a bit of this:
(Holland, 1973 Oil Crisis)
I know its obviously more complicated but part of me would like to see a bit of this:
(Holland, 1973 Oil Crisis)
Apart from the 1970's fashions, that could be Easter 2020. We rode over the local flyover on the A1, NOTHING went past either way.
that could be Easter 2020. We rode over the local flyover on the A1, NOTHING went past either way.
I cycled over the M6 during Covid, somewhere I've got a really eerie photo of my bike on the bridge with 6 completely deserted lanes below.
While I agree with your sentiment, it’s highly likely that asset values will also tumble, and more so than real wages,
I'm sceptical ( but also not well informed) tell me more.
i put in 50 quid earlier - 1/4 tank !
$70 yesterday got me just over a qtr of a tank. Not the greatest time to drive a nearly 3t, 5 litre v8. Bloke at work has a little twist and go 'ped and told me he put $20 in and that lasted him over three weeks. Might be time to consider something like this!
