Inflation - when is this going to end?

[Alan Harper's Tash]

We were a thousand welders short of a Wuhan. It was a close run thing.

Were the Chinese government having karaoke parties too? ;-)

 

[PragueBlue]

Would you rather pay 18% on a £50k mortgage, or 10% on a £300k one?

Which would you say was more manageable?

I would have thought it would depend on how much I would have been earning in each scenario.

 

[Alan Harper's Tash]

I would have thought it would depend on how much I would have been earning in each scenario.

Of course, but one seems a lot harder to repay than the other, longer term.

 

[Bluesince1979]

Just the next year?

This cost-of-living crisis will outlive the Covid crisis hands down!

Just meant next year for starters. Wasnt implying year after will be better

 

[hampshireblue]

I knew it was high in the eighties and I remember it hitting 14% but 18% does ring a bell. I didn't have a mortgage back then and so I wouldn't have paid a lot of heed. I was a kid in 1973 when the three day week was on and power cuts, just about to leave school. I'm sure both periods were tough but this situation seems worse with little end in sight.

highest interest rate was 17% in november 1979.

 

[i kne albert davy]

highest interest rate was 17% in november 1979.

No mate we've already been enlightened it was almost 25% in 1975. inflation rates we're talking about God knows what the bank rates were.

 

[Alan Harper's Tash]

No mate we've already been enlightened it was almost 25% in 1975.

That was inflation. We have to be historically accurate or incur the wrath of @denislawsbackheel.

It was actually 24.11% inflation, just to scratch the itch he was about to scratch by telling us that that was rounded up too.

 

[i kne albert davy]

That was inflation. We have to be historically accurate or incur the wrath of @denislawsbackheel.

It was actually 24.11% inflation, just to scratch the itch he was about to scratch by telling us that that was rounded up too.

I know mate I edited it straight away, didn't want to be on the wrong end of his wrath for an unintentional faux pas :-)

 

[remember arthur mann]

 

[meltonblue]

What’s unnecessary about telling the uninformed that are wrong when they posted so authoritatively on how it is far worse shit now when I remember it being far worse.

It’s not just about what the top line inflation figure is in terms of how bad it feels though or the impact, it needs to be considered alongside things like growth and public services too. There’s a reason they’re saying it’ll be the worst decline in living standards since the fifties.

The question then becomes how we mitigate that impact. Personally, I think part of the issue from the pandemic hasn’t just been it’s impact on supply and demand or the borrowing, it’s also the increased concentration of wealth that happened too which was pretty horrendous anyway. We’re due a bit of a reset.