Great isn’t it? 🙁
‘They’ keep saying it’ll be over by Spring 2023, which, considering a lot of it has been caused by a war that could last years is odd.
I get the impression that we’re collectively somewhere near the bargaining stage of grief for our former lifestyles. The RMT are striking over pay and conditions, but they won’t be the only ones, perhaps more worryingly, I read the other day that 50% of households in the UK, 50%! are borrowing money every month to make ends meet. I sure for some, that’s borrowing to eat, but for those in the middle who are going to be a large part of that, it’s borrowing to maintain their normal lifestyle they can no longer afford and this will have to end and it’s when the middle cut back, we get recessions.
I think the depression will hit in Autumn, when everyone’s summer tan starts to fade and days get shorter and home energy prices jump another 50%.
We’ll all have to accept that things have changed and it’s permanent. Things will always change, but for now, this is the ‘new normal’ there’s no going back to normal next week, or the week after. Perhaps it’ll be the end of the “two new German cars on every drive” PCP boom, or the “£5 a cup coffee shop on every corner” boom, I certainly think it will be the end of the weird Covid fuelled housing boom. I re-mortgaged 4 months ago at 1.3%, my Mate with a similar LTV got offered 3.4% last week. I wish I’d fixed for longer!
The Good news, well if you’re not a Tory voter is that no government survives a recession, and certainly not this government.