https://www.bbc.co.uk/news/business-61142906

<quotes>

The war in Ukraine will "severely set back" the global economic recovery with the UK hit harder than most, the International Monetary Fund has said.

It has cut its global forecast and also downgraded its outlook for the UK.

This means the UK will no longer be the fastest growing economy in the G7 group of leading Western nations, and will be the slowest in 2023, it says.

The UK's economy is now predicted to grow by 3.7% this year, down from the previous forecast of 4.7% made in January.

Next year, the UK is expected to have the slowest growth in the G7 and across Europe's main economies, at just 1.2%, a near halving from the 2.3% expected previously.

</quotes>

I am not sure what makes us more vulnerable to blow-back from our proxy war in Ukraine than others. There's got to me more to it beyond taking the hit from Oligarch's withdrawing cash and investment.

I suppose it's the existential risk of under-pinning 80% of the economy on financial services and international money laundering, treating manufacturing with contempt, flogging all our assets to foreigners.

With inflation soaring, wages frozen, the economy collapsing, all we need is another wave of covid mutation and we'll be screwed. Emigrating to Rwanda will look appealing. So long as one can avoid the torture prisons.

On 19/04/2022 21:52, The Happy Hippy wrote:
> https://www.bbc.co.uk/news/business-61142906
>
> <quotes>
>
> The war in Ukraine will "severely set back" the global economic recovery with the UK hit harder than most, the International Monetary Fund has said.
>
> It has cut its global forecast and also downgraded its outlook for the UK.
>
> This means the UK will no longer be the fastest growing economy in the G7 group of leading Western nations, and will be the slowest in 2023, it says.
>
> The UK's economy is now predicted to grow by 3.7% this year, down from the previous forecast of 4.7% made in January.
>
> Next year, the UK is expected to have the slowest growth in the G7 and across Europe's main economies, at just 1.2%, a near halving from the 2.3% expected previously.
>
> </quotes>
>
> I am not sure what makes us more vulnerable to blow-back from our proxy war in Ukraine than others. There's got to me more to it beyond taking the hit from Oligarch's withdrawing cash and investment.
>
> I suppose it's the existential risk of under-pinning 80% of the economy on financial services and international money laundering, treating manufacturing with contempt, flogging all our assets to foreigners.
>
> With inflation soaring, wages frozen, the economy collapsing, all we need is another wave of covid mutation and we'll be screwed. Emigrating to Rwanda will look appealing. So long as one can avoid the torture prisons.
>

I don't think they're being honest with the inflation figures. I'm
regularly seeing much higher price rises than official inflation,
generally in the 10% area and the war in Ukraine hasn't even begun to
impact the food supply. Their crops would still be growing around now
normally (going by news saying a few months ago that they would normally
be planting).

Toilet roll should still be plentiful though although they're going to
have to be driven across the post-holocaust landscape by some kind of
road warrior chased by punks in cut-down vehicles led by Lord Humungus.

You know HH none of this really surprises me so far. I'm just amazed it
took so long.

On 20/04/2022 08:23, TWP wrote:
> On 19/04/2022 21:52, The Happy Hippy wrote:
>> https://www.bbc.co.uk/news/business-61142906
>>
>> <quotes>
>>
>> The war in Ukraine will "severely set back" the global economic
>> recovery with the UK hit harder than most, the International Monetary
>> Fund has said.
>>
>> It has cut its global forecast and also downgraded its outlook for the
>> UK.
>>
>> This means the UK will no longer be the fastest growing economy in the
>> G7 group of leading Western nations, and will be the slowest in 2023,
>> it says.
>>
>> The UK's economy is now predicted to grow by 3.7% this year, down from
>> the previous forecast of 4.7% made in January.
>>
>> Next year, the UK is expected to have the slowest growth in the G7 and
>> across Europe's main economies, at just 1.2%, a near halving from the
>> 2.3% expected previously.
>>
>> </quotes>
>>
>> I am not sure what makes us more vulnerable to blow-back from our
>> proxy war in Ukraine than others. There's got to me more to it beyond
>> taking the hit from Oligarch's withdrawing cash and investment.
>>
>> I suppose it's the existential risk of under-pinning 80% of the
>> economy on financial services and international money laundering,
>> treating manufacturing with contempt, flogging all our assets to
>> foreigners.
>>
>> With inflation soaring, wages frozen, the economy collapsing, all we
>> need is another wave of covid mutation and we'll be screwed.
>> Emigrating to Rwanda will look appealing. So long as one can avoid the
>> torture prisons.
>>
>
> I don't think they're being honest with the inflation figures.  I'm
> regularly seeing much higher price rises than official inflation,
> generally in the 10% area and the war in Ukraine hasn't even begun to
> impact the food supply.  Their crops would still be growing around now
> normally (going by news saying a few months ago that they would normally
> be planting).
>

You're correct. However, corporations use any instability to hike-up
costs, the excuse for them has already been provided, whether they're
actually seeing actual costs rises or not.

They will eventually see disruption and see problems with supply due to
Ukraine, but its impact hasn't fully got to us yet. What we're not being
told is the real impact Brexit is already having. Due to the bureaucracy
involved, items such as fruits and vegetables, are costing more and are
less fresh by the time they reach the supermarket isle. You have miles
of trucks waiting to be processed to gain entry into the EU and
additional checks on the way back into the free Britain. And, we were
told our "fishermen" will be so free, well, that was another lie. In
fact post Brexit legislation and barriers means exporting seafood costs
more and takes longer. The list goes on, but people like Jacob Rose
Tinted Rees-Mog and Boris The Liar Johnson will tell us it's going ahead
as well as, and blame any problems on the EU.

I guess they're not the ones really suffering, and they'll have many
investments which they'll be profiting from at our expense.

On Wed, 20 Apr 2022 08:23:28 +0100
TWP <ngspammersad@yahoo.co.uk> wrote:

> I don't think they're being honest with the inflation figures. I'm
> regularly seeing much higher price rises than official inflation,
> generally in the 10% area and the war in Ukraine hasn't even begun to
> impact the food supply.

I don't believe inflation rates have ever reflected reality or are based on what the majority of people are buying.

But that's probably just as well given service providers increase their prices by inflation whenever they can to maximise profits.

I would say it's much more than 10% now, though it's hard to say what any average is. The government claims inflation is 7% and will likely hit 9% by the end of the year.

All I see is 50p food items now costing 75p (+50%), £1 items costing £1..20 (+20%) and more. A pint of milk has gone from 45p to 60p (+33%). Petrol is about the same. And we all know household energy has gone up 50% and is expected to to go up another 50%.

What really annoys me is the government allowed energy suppliers to make huge profits through not having sound business models and, now they've folded, we are bailing them out just as we did bankers. It's another case of the poor having to pay for the profiteering of the elite.

Core energy businesses have billions in profit, "more money than we know what to do with" yet the government rejects the notion that maybe they could take less profit, are making us pay more so they get ever richer. Because "capitalism is good, socialism is evil"; the elite should get richer, the poor should pay for their riches.

Food prices are also being forced up in other ways; supermarkets have dropped generic low-price brands, and also dropped multi-packs of low-priced items. A four-pack of baked beans cost £1 but now one has to buy 4 x 35p, £1.40 (+40%).

It is impossible to distinguish between shortages and factory gate increases and supermarkets limiting stock and increasing prices to claw back profits they lost during the pandemic.

It is also interesting to observe that low-priced items are the ones which have gone up most. A 50p loaf is up to 60p (+20%), a £1.10 loaf is £1.25 (+13%). It is rapidly accelerating the social divide between haves and have-nots.

Even food banks are in dire straights as supermarkets manipulate shortages to avoid wasted stock and maximise profit, shoppers cannot afford to donate, and more people need help.

The big question is; when will despair and desperation turn into civil unrest and a crime wave as people find they cannot afford to feed themselves and their kids, can't pay the latest bill which arrives ?

And what happens then ?

We won't be seeking advice from the G7 but other third-world countries.

On Wed, 20 Apr 2022 09:55:59 +0100
Mohammed <toseeb1@gmail.com> wrote:

> I guess they're not the ones really suffering, and they'll have many
> investments which they'll be profiting from at our expense.

It's hard for anyone with millions in the bank to appreciate the affect of a £1,000 bill going up to £2,000 or more on normal people. It's just loose change to them.

Most are those who will think nothing of spending what a family spends a week on food on a single meal or a bottle of wine.

And, if they have the right share-holdings or investments, they earn more than any increase costs them.

The real success of Brexit was in convincing so many that the multi-millionaire elite who wanted to escape the clutches of the EU to enable greater accumulation of wealth by exploiting the rest of us were "men of the people", acting in our interests and not their own.

It really was turkeys voting for Christmas, idiots voting themselves and everyone else into slavery and oppression.

The horrifying part was how savagely they turned on those trying to save everyone from that plight, insisting we were the fools, traitors, and enemies of the people.

They handed the elite what they wanted on a plate, are even cheering for them to take their rights away, make things worse for themselves and everyone.

I am tempted to say "bring it on", have them suffer for what they have inflicted upon themselves, hope it gets as bad as it could be, then much worse.

They were warned but they wouldn't listen, parroted the elite when they claimed it was "Project Fear", chose to believe it.

It's the majority who didn't vote for what we have been saddled with I feel real sympathy for.

On Wed, 20 Apr 2022 10:55:16 +0100
The Happy Hippy <the.happy.hippy.nntp@ntlworld.invalid> wrote:

> On Wed, 20 Apr 2022 08:23:28 +0100
> TWP <ngspammersad@yahoo.co.uk> wrote:
>
> > I don't think they're being honest with the inflation figures. I'm
> > regularly seeing much higher price rises than official inflation,
> > generally in the 10% area and the war in Ukraine hasn't even begun
> > to impact the food supply.
>
> I don't believe inflation rates have ever reflected reality or are
> based on what the majority of people are buying.
>
> But that's probably just as well given service providers increase
> their prices by inflation whenever they can to maximise profits.

For example; while I can accept the unit cost of energy has gone up over 50% due to wholesale prices ...

How do those companies justify their 50%-plus increase in standing charges ?

One can't entirely blame them for maximising profits, wanting to satisfy their rich and elite share holders who are taking our money and putting it in their own pockets when the government supports that daylight robbery and it's what privatisation was intended to facilitate