Inflation - when is this going to end?

[I'm With Stupid]

What purpose does tax cuts hold for working class folk if they offer no respite from day to day inflationary pressures.

It's cover for giving huge tax cuts to those at the top.

 

[SebastianBlue]

Fucking hell, its close to parity !!

1 Pound Sterling =
1.05 US Dollar

That's insane.

Only likely to get more insane from here, unfortunately.

 

[Bill Walker]

Only likely to get more insane from here, unfortunately.

Why is the pound so weak do you think ?

Even the Aus$ is worth 62 pence. In 1999 I transferred some pounds to Aus $ and got 3 dollars to every pound, so it was worth 33 pence.
Thats a massive change.

 

[I'm With Stupid]

Fucking hell, its close to parity !!

1 Pound Sterling =
1.05 US Dollar

That's insane.

Holy shit, I'm due to pay my university fees before the end of the week from my Malaysian bank account. I feel like I should pay in installments because by the time the second installment is due, the pound will be so low, I'll pretty much be getting a free degree.

 

[SebastianBlue]

Why is the pound so weak do you think ?

Even the Aus$ is worth 62 pence. In 1999 I transferred some pounds to Aus $ and got 3 dollars to every pound, so it was worth 33 pence.
Thats a massive change.

Many factors, but the biggest currently are:

1) Brexit chaos
2) War in Ukraine
3) General Inflationary Pressures


And the recent catalyst: Trickle-Down Tax Cuts (which the markets know are nonsensical and destructive to the economy; and there is some evidence that backers of the Truss government shorted the pound right before the cuts were announced).

 

[I'm With Stupid]

Many factors, but the biggest currently are:

1) Brexit chaos
2) War in Ukraine
3) General Inflationary Pressures


And the recent catalyst: Trickle-Down Tax Cuts (which the markets know are nonsensical and destructive to the economy)

Well number 2 and 3 also apply to most other European countries, so they can't be considered a reason for the pound tanking in comparison to the Euro or dollar.

 

[SebastianBlue]

Well number 2 and 3 also apply to most other European countries, so they can't be considered a reason for the pound tanking in comparison to the Euro or dollar.

They can be included in the many reasons. Just because they are causing issues with other currencies doesn’t mean they aren’t also causing issues with the pound.

These sort of FX devaluations relative to other reserve currencies are almost never down to single factors.

 

[Bill Walker]

Holy shit, I'm due to pay my university fees before the end of the week from my Malaysian bank account. I feel like I should pay in installments because by the time the second installment is due, the pound will be so low, I'll pretty much be getting a free degree.

Used to like the Free Degrees..

"When will I see you again...when will we share precious moments"

 

[Keeper!]

Why is the pound so weak do you think ?

Even the Aus$ is worth 62 pence. In 1999 I transferred some pounds to Aus $ and got 3 dollars to every pound, so it was worth 33 pence.
Thats a massive change.

THE UK is done, bankrupt.

Brexit was the final straw, telling your nearest and dearest neighbors to *uck off, incredible and so very wrong.

 

[gordondaviesmoustache]

THE UK is done, bankrupt.

Brexit was the final straw, telling your nearest and dearest neighbors to *uck off, incredible and so very wrong.

People will look back in a generation and be truly amazed at our arrogance, stupidity and hubris.

We had it and we fucking blew it, basically.