Inflation
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Inflation
We seem to getting a rather parochial view from the media in the UK regarding inflation, you have to look for information about other countries. If you read the headlines you'd be under the impression that it was something unique to the UK. Looking at the data it is a worldwide problem mainly fueled (pun intended) by energy prices and hangover from covid.
I was wondering if this is the same in everybody's country's press or whether it is unique to the UK.
I was wondering if this is the same in everybody's country's press or whether it is unique to the UK.
A flower?
Re: Inflation
Well, if you don't live under the rock, or watch ony one TV channel/news source, it's pretty much obvious that inflation is global.
Vast amount of countries having 7+ % and only handful few staying below it.
Having 2+ years of lockdown (much less production) connected
with vast money printing (e.g. 80% the dollar volume we have right now, has been pumped into economy in last 2 years, similar, but to lesser extend with Euro, GBP and many other currencies)
Then having a war between two major food exporters, where one is vast gas/oil exporter doesn't help either.
Still, the media try to put full blame on the war now, but inflation was already record high before the war.
Most of it is simply due to insane money printing.
Vast amount of countries having 7+ % and only handful few staying below it.
Having 2+ years of lockdown (much less production) connected
with vast money printing (e.g. 80% the dollar volume we have right now, has been pumped into economy in last 2 years, similar, but to lesser extend with Euro, GBP and many other currencies)
Then having a war between two major food exporters, where one is vast gas/oil exporter doesn't help either.
Still, the media try to put full blame on the war now, but inflation was already record high before the war.
Most of it is simply due to insane money printing.
Re: Inflation
and the european central bank still doesnt raise interest rates because many of southern europes countries have high nationan debts values
so there is a dilemma:
* either the ECB raises interest to combat inflation (and southern countries go to the bring of bankrupcy) ...
* or interest rates remain unchanged (thats what we see now) and inflation will go through the roof over time (and money can be used to wipe your *ss clean ^^)
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Re: Inflation
I don't really need a lesson, i remember inflation at higher rates than this and interest rates at 15%.
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Re: Inflation
Makes me think of the late 70's a little. I wonder how long until the power cuts start happening? Which would for me be a silver lining, as I am an amateur astronomer! Don't suppose it will get that bad, at least here in the UK though. ( Unfortunately... )
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Re: Inflation
I listened to a couple on the TV today being interviewed about their opinions on the inflation, energy and cost of living increases (UK). The wife said something like "It's really terrible, we now have to think about turning off lights when not needed, only boiling the water we need, and having shallow baths and short showers. We've never had to do anything like that before."
That left me thinking 'WHY didn't you think about all that before? - I certainly always have done. Maybe I'm just inherently tight and don't like waste though. (I do like a nice deep hot bath now and again though.)
That left me thinking 'WHY didn't you think about all that before? - I certainly always have done. Maybe I'm just inherently tight and don't like waste though. (I do like a nice deep hot bath now and again though.)
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Re: Inflation
Yup, inflation is pretty bad here in the US. I think Covid, combined with trillions of dollars being generated out of thin air to distribute to the masses in order to compensate for the economic disruption, might be a significant contributing cause.
Re: Inflation
One more major factor - prolonged lockdowns in China - it sux when global production is put in one, not-so democratic country.
Thus we not only have pump of empty money printing, but material goods supply is also smaller.
oh, and this will also screw the shipping/transport logistic as well - there are currently a sh*tloads of empty container ships stting idle across major ports in Asia and a few other port hubs in the world.
Globalism "just in time, cheapest stuff avaliable" at it's best
Thus we not only have pump of empty money printing, but material goods supply is also smaller.
oh, and this will also screw the shipping/transport logistic as well - there are currently a sh*tloads of empty container ships stting idle across major ports in Asia and a few other port hubs in the world.
Globalism "just in time, cheapest stuff avaliable" at it's best
Re: Inflation
Being kind of a treehugger myself I really hope that there will be some lessons learned in that regard.
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