Inflation

[Dunners]

Yep. But you also have to remember that many residential customers (i.e. those in blocks of flats with communal heat and water systems, oil fired heating etc) and all business customers, have no price cap protection at all.

This is a catastrophe. In fact, it's so bad, that it may be that the government has no choice but to intervene. Even if that means going against decades of ideology. The scale of business foreclosures will be massive.

It will be the first Tory nationalisation in a very long time. Water (not necessary for Scotland as we weren't stupid enough to trust the invisible hand of the mystical market) & Railways next please.

Nationalisation, or just get Ofgem to reduce the price cap and compensate the energy companies? I wouldn't put the latter past them.

[Max B Gold]

Yep. But you also have to remember that many residential customers (i.e. those in blocks of flats with communal heat and water systems, oil fired heating etc) and all business customers, have no price cap protection at all.

This is a catastrophe. In fact, it's so bad, that it may be that the government has no choice but to intervene. Even if that means going against decades of ideology. The scale of business foreclosures will be massive.

It will be the first Tory nationalisation in a very long time. Water (not necessary for Scotland as we weren't stupid enough to trust the invisible hand of the mystical market) & Railways next please.

Nationalisation, or just get Ofgem to reduce the price cap and compensate the energy companies? I wouldn't put the latter past them.

That will be the plan they float but to give away "taxpayers" money to support a failing private energy market will face fierce resistance because of the scale of the amounts involved. Once JC points this out nationalisation is in the bag.

[Dunners]

And the energy price cap is expected to rise to £3,582 in October and £4,266 in January.

Scrap that.

Cornwall Insight now predict £4,650 in January, increasing to £5,341 in April.

[Max Fowler]

Yep. But you also have to remember that many residential customers (i.e. those in blocks of flats with communal heat and water systems, oil fired heating etc) and all business customers, have no price cap protection at all.

This is a catastrophe. In fact, it's so bad, that it may be that the government has no choice but to intervene. Even if that means going against decades of ideology. The scale of business foreclosures will be massive.

It will be the first Tory nationalisation in a very long time. Water (not necessary for Scotland as we weren't stupid enough to trust the invisible hand of the mystical market) & Railways next please.

By nationalisation, do you mean buying shares in these companies as their values plummet, going 10 years without any dividends, then selling them off in a discreet reprivatisation?

[Max B Gold]

Yep. But you also have to remember that many residential customers (i.e. those in blocks of flats with communal heat and water systems, oil fired heating etc) and all business customers, have no price cap protection at all.

This is a catastrophe. In fact, it's so bad, that it may be that the government has no choice but to intervene. Even if that means going against decades of ideology. The scale of business foreclosures will be massive.

It will be the first Tory nationalisation in a very long time. Water (not necessary for Scotland as we weren't stupid enough to trust the invisible hand of the mystical market) & Railways next please.

By nationalisation, do you mean buying shares in these companies as their values plummet, going 10 years without any dividends, then selling them off in a discreet reprivatisation?

No, you are confusing me with Keech Starmer

[tuffers#1]

[Dunners]

Russia has just closed of the Nord Stream 1 pipeline into Germany again (that's now twice in two months). And it had only been running at 20% capacity.

They're tightening the screws on Germany, which seems to have a choice between siding with the rest of the alliance (and having to rapidly deindustrialise), or having gas and electricity.

However, while Germany makes up its mind, it will now have to compete even more on the international wholesale markets, which will push up prices for everyone else too.

[Max Fowler]

If only there was another way we could have gone about things.

[tuffers#1]

Russia has just closed of the Nord Stream 1 pipeline into Germany again (that's now twice in two months). And it had only been running at 20% capacity.

They're tightening the screws on Germany, which seems to have a choice between siding with the rest of the alliance (and having to rapidly deindustrialise), or having gas and electricity.

However, while Germany makes up its mind, it will now have to compete even more on the international wholesale markets, which will push up prices for everyone else too.

Theyre reopening coal faces abandoning nuclear closures shipping gas & oil from the states . Iran has been meeting with the U.S the EU & others about increasing gas & oil from the 20% of capability its producing now . I f restrictions are lifted everybody wins, other than the ex kgb man

https://www.ft.com/content/bff75e74-c15 ... 8a382d46e1
Meets hastily arranged in vienna

Also explained here on a longer term aim

[Dunners]

Nationalisation, or just get Ofgem to reduce the price cap and compensate the energy companies? I wouldn't put the latter past them.

That will be the plan they float but to give away "taxpayers" money to support a failing private energy market will face fierce resistance because of the scale of the amounts involved. Once JC points this out nationalisation is in the bag.

Here comes the plan...

[Max Fowler]

Nationalisation, or just get Ofgem to reduce the price cap and compensate the energy companies? I wouldn't put the latter past them.

That will be the plan they float but to give away "taxpayers" money to support a failing private energy market will face fierce resistance because of the scale of the amounts involved. Once JC points this out nationalisation is in the bag.

Here comes the plan...

This is why these fuckers get the big bucks. Stick it on the Government where it’s guaranteed to be paid.

[Dunners]

The energy sector's about to get banking 08 treatment.

[Currywurst and Chips]

The energy sector's about to get banking 08 treatment.

In 2008 the government took shares for their cash injection

[Dunners]

Good point.

In that case, I'm out of whimsical financial equivalent references.

[Qin]

We are being told inflation is 10% ish, and will rise to 18% at the beginning of next year.

That is nonsense.....inflation is way above 20% now.

Yesterday, i went to buy my usual 'I cant believe its not butter light', I buy 5 or 6 at a time, and they were about to run out

I have been paying £1 a tub for years and years. Earlier this year it went up to £1.25p ( a 25% increase), but most stores were still doing it for one pound. Yesterday, i went to Iceland ( the shop, not the country), to resupply my fridge, and they had put it up to £1.75p. a 75% increase since earlier this year.

I left it, and went into Aldi, where they sell their own version for 85p a tub, and it tastes very nice indeed

Inflation is far higher than 10%, and will continue to go much higher, with this rudderless government at the helm

[Adz]

I'm curious what people spend on groceries these days in the UK? I reckon we spend the equivalent of about 200 pounds a week for a family of 4

[Max Fowler]

A little over £100 on the ‘big’ shop, supplemented with a few extras throughout the week and a takeaway, so maybe £150 all in.

[Dunners]

That is nonsense.....inflation is way above 20% now.

Yes and no. The inflation figures are based upon CPI and are very much an average. How this translates into individual households will vary and the evidence is clear that lower income households are hit disproportionately harder. So, inflation will represent at a higher percentage the further you are towards the lower end of the income scale.

This has always been the case, but this time things are different. Taking the energy cost increases as an example, I've seen some studies that suggest this will translate into serious financial difficulties for the lowest earning 60% of households. At that rate you're facing mass civil disobedience, if not unrest.

And this doesn't take into account the impact of wide-spread business foreclosures due to their uncapped energy bills, and the resultant increase in unemployment. The energy companies and the banks know that they are facing a complete catastrophe as many people simply will not have money to pay.

There are wider economic implications too, such as decreased tax income, increased unemployment benefits, reduction in consumer spending, escalating household debt, diminished savings, interest rate rises etc. The UK's prospects are looking bleak right now.

[Friend or fart]

From BBC News today:- Chip shops face 'extinction' amid cost of living crisis. Some shops in the West of England say the soaring price of cod, sunflower oil and energy has left them struggling.
One manager said they feared some families were cutting out regular fish and chip nights due to the cost-of-living crisis.

Craig Williams, from Sand Bay Fish and Chip Shop near Weston-super-Mare, said the current situation was "worse" than during the pandemic.

"People were coming in to spend their money [when] they were furloughed," he said.

Their solution:- " Some shops are putting their prices up to stay afloat."
Yeah, that's gonna bring the punters flocking back, innit?

[Max B Gold]

Last time I looked Sandro's fish supper was £7.60 but the fillets are getting thinner if that's in any way possible. Result is you get a couple of inches of almost fish free batter on the end which is disgusting.

Back in the 70's when Labour were in the fillets were as thick as planks.

[Max Fowler]

That is nonsense.....inflation is way above 20% now.

Yes and no. The inflation figures are based upon CPI and are very much an average. How this translates into individual households will vary and the evidence is clear that lower income households are hit disproportionately harder. So, inflation will represent at a higher percentage the further you are towards the lower end of the income scale.

This has always been the case, but this time things are different. Taking the energy cost increases as an example, I've seen some studies that suggest this will translate into serious financial difficulties for the lowest earning 60% of households. At that rate you're facing mass civil disobedience, if not unrest.

And this doesn't take into account the impact of wide-spread business foreclosures due to their uncapped energy bills, and the resultant increase in unemployment. The energy companies and the banks know that they are facing a complete catastrophe as many people simply will not have money to pay.

There are wider economic implications too, such as decreased tax income, increased unemployment benefits, reduction in consumer spending, escalating household debt, diminished savings, interest rate rises etc. The UK's prospects are looking bleak right now.

If only etc etc

[Petrov788]

lets see if the Tories really are the party of business. Or just business in the large corporations sense. Not the chippys, pubs and greengrocers.

[Dunners]

Here's something to cheer everyone up for the weekend.

"high prices are a big problem, but security of supply is at risk, too."

www.bloomberg.com/opinion/articles/2022 ... very-scary

[Max Fowler]

Every week, the people who trade electricity in the UK get to quiz the managers of the national grid for an hour. The conference call, which anyone can monitor, offers an insight into what the men and women on the front line of the power market are worried about.

The only thing these c u n t s are interested in is their bonus next April.

What the f*** even is this nonsense? Why do National Grid bosses have to answer to these City arseholes?

[Rich Tea Wellin]

Is this the beginning of the end of globalisation and global supply chains?