The cost of living crisis appears to be a global problem, although in the UK it has been made worse by the increase in the prices of many goods. I believe that the government has the ability to reduce the cost of electricity, but for some reason, I don't think they are concerned about how the common person would do in these strangely challenging times.
I feel the energy company could’ve cut their prices as this current inflation affect everyone or should individual workers start charging higher fee off their employer to make ends meet.
I work two jobs which contributes a lot to my family and with this current inflation it’s increasing been difficult. I make an okay income but the price of things keeps increasing, it’s sad.
@@stacyandrews5468 it’s really hard times, I had lots of ups and downs working different jobs. Glad my investments started paying off so I can quit them, my decision to put in some money valued and growth stocks has really saved me.
Oil and gas is a gift of nature! It's free out of the ground. The same goes for gold, silver and all the other things that come out of the ground. Greed is the reason why we have a global cost of living crisis!
But Greed has always existed. I dont disagree that Greed is a contributing factor, but Greed as 'The Reason' feels like a sweeping statement that can easily be dismissed. Why now?
Just to correct your first point. Every country is interconnected with economies. We may only import 9% oil an gas from russia but germany is like 60%. So their prices go up, which they pass over to exports to us. Every country is connected an it has knock on effects
You have a point. However I was trying to keep things simple and say we're not reliant on russia. Plus it would have made for an even more boring video
@@thedrummerboy1215 yes the energy companies and futures traders that set the prices. Thatcher was very silly and we should be deeply concerned about stealth privatisation of the NHS. Can you imagine if roads were privatised and road tax went up 10x? Capitalism is the best system for organising an economy but infrastructure should always be run to benefit citizens and the economy. How can care homes and pubs deal with energy bills that go from tens of thousands to millions. We all get WRECKED, big capital makes a killing and then it buys everything up cause we're broke.
My thought exactly! Also, yes, we used to import 9% of oil from Russia, but can we now substitute it from other suppliers? The answer is no, Qatar and US don't have the capacity as they have other EU countries coming to them with same request. And Netherlands not only don't have the capacity, they also might lower supplies as they have other EU countries to help. So now we are suddenly at risk of losing more than 9% of energy resources, and quite a few countries are in the same position. Which drives oil and gas prices up, as you all can see...
Me too. I didnt blame ppl as often it wasnt out of choice but as a company owner i couldnt put myself on furlough and still had to pay all the bills with zero income. Bloody hard all round i felt
It's good to hear it somebody's talking sense and I've always agreed with that money has to be paid back some way and will do a sneaky way backdoor taxes
Yes it was nice to here how Shell was awash with cash after Covid , and how certain politicians want to cut corporate tax further . Just let the man on the street and small business pay the Covid debt back .
The point he`s missed is most big companies are registered, Tesco for example, in the Cayman Islands to avoid paying tax on all income from their operations in the UK! CEO`s of these companies are non doms for the same reason! Who do you think has to pick up the tab for all this evaded tax? YOU and every other working class person who`s on PAYE!! They bosses have Cayman Islands bank accounts, we have food banks!! YOUR total tax take by the Government is 47.1%. The bosses total tax take is a big fat 0%!! STOP READING/WATCHING/LISTENING to the MSM!!!! THEY ARE LYING TO YOU!!!!
True. But tesco have a business that employees thousands of people all paying tax plus they therefore contribute employers NI tax, plus business rates tax on all stores, plus they use their sites to have petrol stations adding vat and fuel duty plus if thats not enough sell a bunch of items other than food that have vat associated. So yes dodgy at the top but thats millions and millions in tax from each of those big companies
@@RevorecRecruitmentSolutions People love to quote gross figures for corps. Tesco profit margin averages 6%, not exactly laughing all the way to the bank then. If that was someone's wages they would consider themselves in quite a precarious financial situation.
Brother, thank you for using your platform to spread this. I have literally been saying this to everyone. The money we borrowed during the pandemic was not free and needs to be paid back. Thank you for spreading correct information
@@billmarsh1971 What's this "WE" business? I didn't borrow, nor get any hand-outs. Don't you mean "the money THEY borrowed was ours in the first place"
@@janedoe6350 it was but remember businesses would not have survived covid without furlough and also your kinda right because the govt wasted so much money on some of the covid procedures. In my opinion we never should of gone into lockdown in the first place, covid was just riled up by the media
The UK's economy is and will suffer significantly more than the likes of America, Canada, Australia and Europe. The pound has weakened against most major currencies in 2022 in dramatic fashion. There is no long term goal or strategy in place and unless the younger generations change the dynamic of the political system, the UK will continue to collapse.
It may suffer a bit but but continue to collapse? I disagree on that bit. The country will sort itself out. Theres too much wealth tied up. The pound is only week when youre buying product in it. If its invested in commodity then that value holds if its an asset.
You don't make sense when countries devalue their currency like China people shout and complain they are doing it for the purpose to get ahead of the rest, sure stronger currency is not good for exporting, all they have to do is export more and try to import less, the US has more debt than anyone including the EU when the dollar is no longer the reserve currency it will be a disaster for the US economy the dollar will become toilet paper, history repeats itself just like the germans they had the military but their economy was on the floor so they start a war
The difference today is the Fiat money system and Quantitive Easing. Basically with Fiat money the central bank effectively can say our money is worth this and eith quantitative easing ( code for money printing) we'll just print some more so we can always pay the debt.
@@RevorecRecruitmentSolutions The majority of the debt is internal exp to the BOE the FED or the ECB that is the reason they make them look independent from the government so they can borrow from them, those Banks set the interest the government pay back lower if they are really independent the interest will be a lot higher considering the debt is higher than the GDP this debt is only on paper it doesn't really exist just like the money created out of nothing baked by nothing,
As for the plannedemic, I dont think it was planned. However I do think what nobody is saying is that in truth there are too many people alive right now to occupy the planet. Like a plague of locusts. The solution needs to be occupying other planets. Or kill your citizens if youre a genocidal maniac. But planet exploration is the sensible idea
Governments created ridiculous amounts of debt with the scandemic, which they haven’t a hope in hell of paying back, but that’s been dwarfed by the printing of money since the financial crisis of 2008. Whenever a country prints money in excess, hyperinflation occurs as sure as day follows night. Look at history…. Germany in the 20’s…. Zimbabwe was the most recent example of printing to excess and then experiencing hyperinflation.
@@RevorecRecruitmentSolutions Our economy is heading the way of Japan who implemented hard right supply side policies of tax cuts at the top selling them as promoting growth They do not If you drop corporation tax on an oil company during a period of stagnation they use the extra profits to either buy back shares increasing their value or in dividends increasing the debt and inflation. If you drop corporation tax on a Tech startup during a period of stagnation it does nothing zip zilch nada, no increase in growth WHY? The emerging market plough its money back into the business and never pays tax what they need is grants linked help with academic institutions and a government training people to have the skill set they require improve transport links etc.
I wouldn't mind so much if I had been furlouged but I was one that had to work through that long hot summer while others were posting on social media what a great time they were enjoying, now I have to pay for their holiday.
It depends what you want from life, if you look at the Armish, I dont think Covid bothered them at all now or then because they live as a commune and grow their own food and shun owning stuff!, Now Im getting older I seem to be turning into a Hippie!...Weird.
Excellant presentation of indirect taxation via inflation if we may suggest, Part 2 - the economic starvation and social disorder Part 3 the introduction of the Centralised digital currency Part 4 the social engineered enslavement
Been saying that furlough is the problem! This is the big pay back. It really Pisses me off more when didn’t take anything from the government no grants nothing and carried on working throughout. There’s no such thing has free money! Wake up people
I know how you feel. I worked all the way through and whilst I put 1 guy on furlough I had to take him off after just 3 weeks as too busy. Think I've paid that furlough bill off about 500 times so far so defo not free money 😭
@@RevorecRecruitmentSolutions well they just handed out 650 pound to people on welfare and disability frst time since the second ww was smithing so stupid done .but is it stupid trying to figure out what’s going on isn’t hard .control off the masses how far can you actually push people .the gate is open and someone is getting ready to close it .What that will be I have no idea .my mate bhought a house with his furlough in fort William .And he worked in his shop all the way through .He told me he had seven months wrth off work when it all went down .
I don't understand how you think the Govt put prices up. Could you explain their mechanism for this please? They can't just tell shops to raise prices. They can create inflation by money printing and that will push prices up. I think that's what has happened.
A government have doners who are basically very wealthy people who in return want stuff done. Also pension funds and other lending streams give the government money for the treasury. So when those people want share prices to change and markets to move in their favour they tell governments what to do. World Economic Forum level stuff.
@@RevorecRecruitmentSolutions Sorry but I was asking about food and energy prices where there is 10% inflation. They can't just tell Asda to put up the price of food or Shell to raise the price of petrol so how does the govt make this happen?
The root of how prices are set are at the top of the biggest companies who dominate their markets. Now people will moan about billionaires and large corporates getting away with paying less tax. Why'd you think the government let them off? In return for favours such as inflating prices that influences their marketplace.
The furlough debt should either be paid back by the corrupt government or written off entirely. The pandemic was manufactured and planned, so the creators of it should be held completely accountable It’s not up to us to pay it back…
No big surprises here, you can't shut the world down for 18 months and then not expect some sort of rebound. Worked that one out at the time it was happening.
When the world was shout down they were shout down. So they didn't loosing anything. It's just the usual greed from companies that give money to the conservatives party. The war in Ukraine is an excuse to put prices up. They don't bring prices down as quick as they increase them.
You meen as long as old people keep leaving thousands to frikken the cats protection league instead of anti child abuse charities the government will assume too many morons have too much money 🤔 Actually i agree with the government in that one 🤣
It is not surprising inflation caught up with us. With QE central banks have been printing money like it is going out of business. Letting the banks give it out in cheap loans or to shore up their balance sheet. QE has pushed up asset prices and keep interest rates low. Not good for savers. Why save when you get a pittance for saving. Your saving decrease- so people have spent or pushed it in to assets. Primarily property in the UK which has returned 12%.a year on average. But more money in the system causes prices rises and inflation in assets when the money supply is high.
I got fired and rehired during furlough, so done FA for me, over past 10 years ive had 50p pay rise. As my wage is just above Min wage meant that that could happen. Also my job 15-20 years ago was a skilled job and pay then was aprx 5-8 pound more then than it is now. Employers ARE and have downgraded skilled jobs just as unions are saying.
@@RevorecRecruitmentSolutions all due respect its not a theory i lived it. Im a forklift driver. When i was in my early 20s pay was at least 15ph, It has legal responsibilities that could get you years in prison because if you hit someone it is judged as your fault 90% of the time. If you kill someone its jail. Now you are classed as a simple warehouse operative, the same as a packer, a cleaner, a picker etc. Only recently has there been pay increases due to the need for competent drivers. Other wise it would still be just ahead of min wage.
I appreciate the word theory may not have been the best word to use on my part. I meant it purely in terms of it being a common place theme happening on a larger scale nationally. The idea being is there a theory suggesting a large scale pattern of why its really happening that could help people understand and see the signs early on. Sorry if I didnt communicate my point initially
Only fell across your channel today after trying to get a non bias view about the economy for my degree and its refreshing to listen to someone talk about politics and choices without playing blame games or brushing things under the carpet. It very refreshing to watch and helps develop a genuine understanding of the topic.
Thank you. Its been difficult doing the videos at the same time as expanding the company. But more videos will come. Glad its helpful and unbiased. Thats the aim
Oh this is going to be unpopular, but I am going to counter a lot of your arguments with facts:-- War in Russia effects Ukraine and Russia supply 70% of the worlds sunflower oil and over 30% of the worlds wheat supply. These are essential goods with very low elasticity of demand. This means that a small shortage pushes up prices significantly. Also these are base goods, we use the wheat not just to feed us directly, but also to feed the chicken we produce, beer we drink etc. This leads to poorer nations being unable to afford these goods and switch to an alternative...rice for example. This is also an essential good, again with a low elasticity of demand and therefore the price of this then increases exponentially. And so it goes on. Energy - Again an essential good, and possibly the commodity with the lowest elasticity of demand of any commodity. Hugely effected by the war in Ukraine. Also the price of brent crude in Dec 2018 was around $68 per barrel, as of the time of the video the price was around $106 per barrel. Brexit The migration of labour back to Europe, the fall in the value of Sterling and the increase in the cost of doing business with Europe (tariffs, customs clearance etc) have directly added around 2.4% to the cost of food goods that I deal with directly. Covid - specifically Furlough Many people who were put on Furlough took a second job. This resulted in growth in many areas (online shopping and deliveries etc). When lockdowns ended people couldn't physically work both jobs, therefore there was a shortage in many sectors with people either not returning to their original jobs or leaving their second jobs. This was exacerbated by migrant labour not returning from the EU (due to Brexit). People also were not spending as much and savings actually increased during Covid by around £45bn. During the pandemic manufacturing output worldwide fell hugely, however underlying demand never went away. For example although we were not buying cars, older cars were still needing replacing, the purchase was just delayed by 12-18 months. Now with car stocks and production at record lows, demand is increasing, and due to the laws of supply and demand prices go up "inflation". You can apply the same narrative to TV's, computers etc. VAT on the weekly shop - Food is an essential good there is no VAT on it. Food inflation does NOT raise additional VAT. Now where I think you have a couple of valid points. Fuel taxes - The treasury is having a real windfall on this, despite the 5p cut in fuel duty the government are still taking around an extra 35p per litre in tax compared to prepandemic. The government wants inflation - Yes it does, but not because of what you have stated. The government (and the wealthy) want high inflation. It is by far the quickest way to pay off debt. I'll give you an example, you buy a house with a mortgage and fix your interest at 3%, inflation is running at 10%. You are in effect having inflation reduce your debt to asset ratio by 7% each year. As both the government and the very rich are the biggest consumers of debt they love high inflation. They will never admit it as it is not a vote winner, but it will very quickly reduce the debt to GDP ratio to a more sustainable level. I have tried to use facts in the above. I also have professional experience (and therefore knowledge) of some of the above, so I am not just regurgitating government/mass media spin. But is it important for people to fact check not just accept what they are told (either by their elected officials, newspapers or youtubers). Thank you for reading this and have a good day.
I have read and you make some fantastic and valid points. There is a lot of extra info I could have or refrained from putting in the video as I needed the right balance of info but watchable. However great points from you and thank you for taking the time and effort to share
@@RevorecRecruitmentSolutions Thank you for taking the time to read my comment and reply. Honestly when watching the video I thought you were straying into conspiracy theories, however reading some of your other comments I think it is more of a delivery issue on your behalf. Whilst I understand you are targeting a certain audience that could be turned off if you spend the time talking about macro economic policies, it is even more important that your message is clear, factual and gives an unbiased view. I think if you rewatch it after reading some of the comments on here you might have tried to deliver your message differently. I am looking forward to seeing how the channel progresses in the future.
What annoys me is that I could not furlough, I had to work through. As I work for a company that upgrades/maintains food companies, I was deemed non Furlough. In effect I was working keeping the factories going, while others around me were at home having street parties for a year. Would have been nice to get a years wages for free. Yet even though I worked through, I will still have to pay the Taxes and VAT. If it's true what you say, the government should at least be upfront about it.
We deal with a lot of food and infrastructure companies so worked right through. But whilst I understand your annoyance I'd have preferred to work than lose my company and have all my employees lose their jobs. Silver linings. Plus I'd be bored if I dont work. I love working as weird as that sounds (writing this at 5:50am out of choice) 🤣
Neither was I but lets be honest if someone gives you money and says in your moment of need you dont need to pay it back most people would hope for the best and go with it.
I must say, this is a good argument. Well thought off and 100% spot on. Interest rate changes also plays into their hands as bonds repayments dont attract a Vat and if it stalls thr house market, you than have to pay rent which attracts vat and more disposable income for vat purchases
I took notice of Martin Lewis last year and I got a two year fix with??? And my bills till next March is average £1.50 a day and gas is 8p a day so we’ll done Martin Lewis.
Since 2008 the government have massively increased the money supply through quantitative easing (QE), ie money printing, especially since the 2020 pandemic. Sooner or later that new money works its way into the wider economy causing inflation. We are reaping the harvest of inflation sown over the past 14 years.
You nailed it! Wise thoughts:- 1. Just drive down any motorway and see the number of trucks - recession? I think not! 2. Before joining the EU we had no such tax as VAT. Yes, purchase tax in some items but not most as came in with VAT. We are not in the EU so why have the government not removed this inflationary tax? 3.Back in the 1960’s the government limited the amount of cash you could take out of the country to £50 per person. The pandemic and subsequent affect on foreign travel stopped a massive amount of money being exported to other countries - why do you think the foreign travel is being made so uncomfortable at airports and docks? To make people stay at home for holidays. 4. The strategy of the government sending Covid-19 infected elderly people (pensioners) back into nursing and homes to infect and cause the death of many has saved a massive amount of pension and living expenses. I have never seen this costed but this cull must have saved billions of pounds. 5. We had a referendum based on lies and false promises. When will those concerned be brought to justice?
@@markrussell2233 Is that another lie this government has perpetrated? I have friends who live in France and they tell me the official paperwork on both sides of the channel (I mean le mange) is copious since Brexit so sometimes is changing. They do say that materials are much cheaper in the UK compared to France but an additional 10 to 20 % is payable when taking cheap UK goods into France. All this is hearsay…
I’ve lived on my private pension and payed tax for 3 years while looking after my sick partner, I got my state pension last year. Now I’m expected to help bail out the country that hasn’t given me a penny for 3 years and that’s after paying 51 years national insurance and tax!
you and me are not suppose to draw pensions the idea is you pay in and don't get it ie you die we where sold a lie the state pension will rise to 90 and the health service will be privatised so you don't pay you don't get this means more people die before they can get the pensions the gov has more money in the pot every 1 s a winner accept the plebs
@@billpalmer2381 somewhere there is a person who suggested everybody opts in to a pension, they will know how many will die before pension age I wonder what the percentage of deaths is?
Thank you so much I thought it was only me who was thinking this. This underlines the fact though that there is a higher government that pulls this together
Inflation is the main reason. Printing more money devalues the money already in supply making it worth less which in turn increases prices for goods. Wages haven't increased enough and therfor there's a shortfall.
The reason is monetary policy. There is too much money chasing to few goods. This is the definition of inflation. During the last financial crisis in 2007-8, the banks undertook quantative easing to stimulate growth and save the economy from a catastophy. After reducing interest rates to an all time low, there was no way to stimulate the economy by lowering interest rates further so the bank undertook a programme of quantitative easing. This allowed central banks to buy government bonds and increase assets in order to keep interest rates low. The Bank of England created £895bn from Nov 2009 - Nov 2020. This is highly inflationary in the long term and created an era of cheap money, leading to stupid investments, in companies that don't make anything and exist on their overvalued potential such as Facebook, Tesla, also increasing the cost of housing and investment into cryptocurrencies, shitcoins and NFTs. The low interest rates are good for borrowers but bad for savers and this resulted in many people putting their money into more risky investments rather than keeping it in their bank accounts. There were also the shocks from COVID19, furlow, and the war in Ukraine but these are not the main cause. The solution would be to raise interest rates to a much higher level, to slow inflation, however, that will also cause a lot pain, but it will have to happen at some stage but the banks and politcians will kick the can down the road for as long as they can leading to a long and drawn out recession.
Silent Weapons for Quiet Wars have long been deployed against us. Devide and Conquer is the weapon of choice mostly used. Order out of Chaos is another weapon of choice, create the chaos and offer the solution. The power to control interest rates was given to the Bank of England. Welcome to the Great Reset. You will own nothing but you will be happy happy.
The cost of a barrel of oil is absolutely NOT less than it was pre-pandemic. It briefly reached $110 per barrel in 2014 but was generally in the $40-100 range over the last 10 years. Yes you're right that the UK is almost self sufficient in oil production. However, since that oil has a value on the global commodity market - it could easily be exported if we were not prepared to pay the global market rate for that oil. Similarly with natural gas, the UK only imports 2% of natural gas from Russia, but since we're competing in a global market for supplies of gas, the global price has shot up due to Western countries decision to procure gas from a finite number of alternative sources rather than from Russia.
Thanks for your analysis however. The cost of a barrel of oil was more in 2011, 2012 and 2013 which is pre pandemic. Plus take inflation into account we can include 2014 too. And yet the price of fuel was dramatically less than present prices indicating a huge hike in prices hence the point I was making.
Plus your point on a finite number of countries that export natural gas equates to at least 20+ countries. Furthermore the international trade prices of gas alone (check stock prices if you want evidence) are the same as oct 2021 way before the war started, but the prices are still inflated. I get your point of having a structed counter argument but there is clearly a proportionate disconnect between traditional profit margins now which gives evidence to highly inflated prices which governments are taking untold advantage of via taxable incomes
The US have a law that bans oil exports... they can opt out of global prices as they wish, they may even do that in the future, nothing stopping the UK doing the same ;) a bit mean though!
The uk oil infrastructure has been restricted by lack of investment in domestic exploration, rigs being de commissioned etc. So whilst still there we cannot be solely reliant on uk supply where as the US can if need be. Good idea but not fully plausible in the uk.
What about the Dutch farmers, bill gates buying farm land in USA. Uk government and other paying farmers not to produce food. So the next crisis will be food shortages.
I had to put my head in my hands when you said people just took 70B and thought they would not pay it back. I did express my opinion over 2year ago. But what do i know... Sitting on all this money
Imagine for one minute. If you worked through all lock downs, and you're now paying for other people's furlough! I've said this for months. What a massive kick in the dick!
@@RevorecRecruitmentSolutions I absolutely blame the system but I also understand that there really wasn't an alternative. I was just happy my job got me out of the house.
Yes I worked my butt off all through the pandemic which was fine it was my job, but now with everything going up and the government are arguing about our pay rise. You could not make this up if you tried.
I was lucky and kept working through the plannedemic but my husband is self employed (one man band) do you know what he got , a big fat zero. Not all of us had cash from the government incl lots of other people, elderly etc but we are suffering for their decisions. It’s despicable what’s going on right now.
No one says net zero is part of the problem. It is. Costs are rising for every company because they are spending to comply, those costs are then passed on to us. The BBC are at the moment are promoting the idea not to use cookers as they are costly and save money. If I was a cynic I would say they are preparing us for not using them because of lack of supply or "modelling" your future diet by not relying on them...subtle but this is going on all the time if you open your eyes
You're right, net zero is a huge part of the problem. Everything you see happening now is by design. The government is fully aware of what is happening and why and have no intention of changing course. They are all puppets of Schwabs agenda. We are in the middle of a deliberate slow collapse and reset of every aspect of our lives, with a worldwide genocide happening in parallel. I find it incredible that some still can't see it.
@@pennyplum833 I agree subtle changes being made, flights being reduced by carriers, elite buying up farmland to get carbon credits so they can carry on as before, then abandoning production, or turning into solar/wind farm deserts, farmland taken by state, drag on production, unis planning car sharing schemes for population, the latest is don't use ovens to cook...a forerunner of restricted diets or lack of power I suspect if I was a conspiracy theorist. I wrote to the bank of England to ask for the figure that net zero has on inflation, whilst accepting it plays a part in their response they didn't give a figure. If they spend all that time contemplating inflation metrics yet can't give a figure...makes you wonder how much truth we are really getting.
There are only 3 things you can guarantee the government to do in a crisis 1. Think about it. 2. Talk about it. 3. Forget about it. Because they are just thinkers not doers.
Why are the electricity and gas providers virtually doubling the daily standard charges. Are they going to double this again in October ? People who even reduce their power intake cannot escape the daily charge which is significant. I think the answer is "because they can" and it improves their profit DRAMATICALLY" Please let me have your observation on this point. - Thank you
I am self employed could not get any help from gov except a loan why should the payback affect me I wasn’t furloughed I had to survive by my own devices
Furlo was designed to give everybody a debt that could be called in at any time, people got greedy and applied for it and took the debt, which will be attached to the property since nobody owns their house even if paid off, you are still classed as a tenant on the deeds. And thinking about it what does anybody have to pay back anything, the govs world wide made you stay at home, it was not your choice, that should be a free grant, all by design, by 2030 you will own nothing and all that.
If the ‘low skilled’ jobs actually paid realistic survivable wages then these positions wouldn’t be empty, it’s not surprise that profits are at record high for CEO and stakeholders, £9.50 + 20% tax + pension and cost of living is making low paying jobs pure hell
Yep! Importing millions upon millions of workers from (mainly) poorer parts of the world was a deliberate government policy started under one Mr Tony Blair to ‘drive down unit labour costs’ and continued by every government since. Low skill, low wage is the name of the game now for the majority of people in the U.K. Investing in people and productivity? Not gonna happen while employers can get away with paying poverty wages. So much for our so called ‘democracy’ I don’t ever remember any political party campaigning on a ‘more immigration, more low wages’ policy. It’s the younger one’s I feel sorry for. Never before have the cards been so well and truly stacked against them. Oh, and before people start stating I’m being racist, blaming the immigrants-I’m not. They’re only doing what my parents did years ago-trying to make a better life for themselves. Trouble is, even though the U.K. is (in my opinion) over populated with low skilled low wage imported labour, the political and financial class have carried on implementing these ruinous policies along with the destruction of unions, the deregulation of the housing market and abandonment of social housing (amongst other things) knowing full well that as well as the lowering of living standards for millions, over population causes social tensions, overcrowding, higher crime and all of the other problems associated with the exploitation of working people.
We are all still paying the price for 2008 financial banking crisis…, quantitative easing was seen as a viable solution. But unfortunately there was very little trickle down to the average person, people with assets got richer. We haven’t had any real wage growth in the U.K since 2008, according to the institute of fiscal studies wages are 15% lower than the expected trajectory following the financial crisis..,, we are still suffering the consequences of this… let alone the addition of Pandemic and Ukraine war 😔
from 1971 and the stop of the gold standard ruling was the downfall...rothschilds must be ltfao..quantative banking is printing fake money nothing to back it up hence max payout from bank is 80k and we allowed that shit because most of us didnt understand like the electric or gas bills full of mumbo jumbo that was not plain and simple...i done quantative banking id be in prison the following week we need true control every country every secret out and reset for all.
THANK YOU!!!! I've said the same thing all along you've just broken it down and put it into context!! I never claimed benefits furlough or held my hand out during the lockdown periods. So when I stated to everyone that did I'd end up ayumg back for the jackasses that could go back but chose to stay on furlough, I was laughed at!! Well now we're all suffering due to greed and laziness
This is a kick in the teeth for the hard working people who yet again is paying for this and get no help it’s s bloody shame all these so call politicians should be the ones who pay for this not the hard working class people it’s a shame
Im working class. However boris earned 160k for running a country. However how many working class people buy prem football shirts for guys who earn more in a week than boris earnt in a year. All a mess if you cast the net wide enough
It's a case of dismissing returns in terms of VAT. If costs are higher then people will prioritise and have less money or no money to buy clothes, meals out, treats, etc so VAT returns will suffer accordingly. This argument I'm afraid just doesn't stack up.
I disagree. Think about it. If someone has say 25k that they pay out every year. Under normal circumstances lets say 5k goes on holidays, but because prices elsewhere are increasing they now dont have that 5k to go on holidays as they have to spend it on other things. So theyre still spending 25k and still paying VAT on it just on different things. So my argument does stack up by that logic.
@@RevorecRecruitmentSolutions Most food is zero rated and gas and electricity for domestic users is only 5% so the money which was not spent on holidays or leisure is lost in terms of the higher VAT rate.
Right, but zoom out a bit. The point im making is that the 25k in my example will still find its way of being absorbed as VAT just instead of it coming from the tax payer then the supply chains they buy from instead of holidays will contribute to it. For example theyre buying more food from supermarkets rather than a restaurant. That means more deliveries of food delivered by lorries which means more fuel duty paid, more packaging made so more raw material used like cardboard and plastic and thus more vat from that etc. In short hmrc will still get the VAT from that 25k as it'll still be spent only the vat comes now via other routes.
@@RevorecRecruitmentSolutions The greatest percentage of the population don't even earn £25,000 a year let alone have £25,000 a year to spend. Most people this winter will be facing the choice of eating (feeding their kids) or heating their homes.
Well, my rent is going up an extra 240 a month. Last year it only went up 50 dollars a month. Why such a big increase? This year I received a dollar raise and that is not even enough to cover the increase in my rent. Also, consider the cost of gas and food increase. This is ridiculous. Do I need to buy a tent and camp out front of a government building?
It's a ridiculous circumstance. Heres another mad example. The UK average salary is £32000 but to get a mortgage you can only borrow a max of 4.5 times your salary. If thats the case you can only borrow 144k. Yet the avg house price is 350k
Good piece... Prices are going up with shrink flation too.. Biggest problem I can see where petrol is concerned, one of the big factors is that refineries have been shut down. For every ltr, the government are earning big with the fuel duty and VAT As for natural gas the one thing we no longer have are those big storage units that used to be everywhere, used mostly for the winter period. Messing with the cap and raising it, is what has done us all in and that as far as I can see is due to a mixture of government allowing corporate to call the shots, and the fact that as a consequence said government get to rake in more tax money as well as more on that 25% renewables levy. I lost my job just before the pandemic hit - which truly messed with my health - not covid, the lockdown did. Back in work at last.
They also want to get people back into work hence the increase in energy. 10% government redundancy call was the same thing. It will force people back into work when they have to start their central heating. Pension companies have invested heavily in office space, they cannot afford to mess up pensions. The government also saw.a massive take up in premium bond purchases over covid.
@@RevorecRecruitmentSolutions When I started work we had as much paid overtime as we wanted. Then they took it away and replaced it with time in leu. Everybody suddenly valued their time off and the company was finding it difficult to get the work out so they brought back paid overtime and took away the leu time. Problem was nobody wanted it anymore they preferred their time off. Exactly the same as Covid.
@@RevorecRecruitmentSolutions At the beginning of every year the national news would report on the increase in rail fares with people being interviewed at stations into London complaining of £10k season tickets. Just think how much the rail system has lost and is still losing until people are travelling into work again.
Yeagh and handing out hundreds off pounds to people on welfair .I really can’t get my head around it Like giving more money to people that wnt save or do anything to try make it grow ,they’ll just spend it on stuff not needed .But I do think they’ll be wishing they’d kept there hands on it come winter .But like here have a sweetener .
I used to (5yr ago) work for a high street bank on the phones, I have spoken to 1000s of people on benefits and had the opportunity to check out their spending, I was really saddened to see that the vast majority (there are of course a few good people in there but they are few) spend crazy amounts on takeaway food and tv subscriptions, Maccy D's every day and upwards of £200/month on Netflicks and Sky combined... I lost all of my sympathy for them at that point. Hell I lived on 600 quid a month for 15 years and never had a problem getting by,some people need a kick up the rearward area.
Im saying nothing but I do recall in 11 years of schooling not more then about 20 minutes on budgeting and bills. Shakespeare, Pi and dissecting a frog...loads of that stuff that's really been of use in everyday life
@@MikeWalls7829 i live on a housing estate and you can tell who's been on the dole for over 10 years, they have the biggest TV's and smoke the most weed, all of course visible/ smellable through their curtain less allways open windows. I know at least 3 on my estate who haven't worked in over 20 years, we call them the play station crew 😏
@@RevorecRecruitmentSolutions this is the main reason for inflation which is rooted in fiat currency not being backed by real assets, do not mislead people like mainstream media
Disease, war, natrual disaster, political incompetence, banking incompetence... it doesn't matter what causes it, the outcome is always the same. There's nothing new happening here, we're just heading for an economic downturn that'll probably last a decade or so. It's no big deal.
Where are you getting your figures from. They seem way off. I might believe what your saying but you have no figures to back what your saying. Why have you forgotten to mention the world economic forum. This is the real reason we are suffering. Please check this out.
Yer yer.... tracking technology in the jab - bullshit. You will own nothing - bullshit. All your little conspiracy theories popped now you want stats - Pathetic. You say his figures are way off in one sentence then he has no figures in the next. Which is it?
How to cut costs 1: stop buying cigarettes 2: stop having tattoos 3:stop clubbing 4: stop living all your lights on 5: stop eating out every week with your mates 6: stop funding lazy spouse 7: stop going on expensive holidays
@@RevorecRecruitmentSolutions agreed i know so many more people on UC that are better off than people who work 2 jobs that it's not even funny, the more money that comes in the more you have to pay out, as soon as you enter the " mainstream" the sooner you get swept along by the current of bill payments, council tax, rent, pension, TV subscriptions, bigger better phone, internet, cable TV, take aways ect ect , cos why wouldn't you want the better things in life, after all what's the point in working if you can't have the better things in life 🤔
@@RevorecRecruitmentSolutions so true 👍 look how many piss takers are now being hunted over wage loan/ grants fraud during covid I'm with you on it, good idea could have been better implemented but i guess the powers that be had other things on thier minds, like what to wear to the No10 party that eve 🙄
Interesting to hear a different point of view, unfortunately you are making conclusions on a local (country level) on commodities that are traded globally. You also need to consider that a supply deficit and a price rise is not a linear relationship. Ie 10% reduction in the availability of something doesn’t mean the price goes up by 10% it’s often substantially more. In the global market effectively you have a bidding war for goods by every country with the worst off being weaker currencies and high priority goods importers (food & energy). Covid caused a massive influx of credit/currency combined with a reduction in goods/products & energy. Conclusion more money chasing fewer goods, prices have to rise. This has happened time and time again throughout history when you have ignorant politicians who pander to the masses for decades through over spending, loose monetary policy with zero understanding of the basics of the market. Baton down the hatches because this isn’t going to be getting better anytime soon - our ruling class has forgotten or don’t care that energy/production = life. People are talking about a cost of living crisis in the middle of summer, they haven’t seen anything yet
This is a product of supply and demand ? NOT TRUE Oil and Gas are Oligopolies An oligopoly is a situation where a few firms sell most or all of the goods in a market. Oligopolists earn their highest profits if they can band together as a cartel and act like a monopolist by reducing output and raising price creating Super Profits. Shipping is as well container prices are up 600% from pre pandemic
Yes but theres also too many under skilled people in the nicest way. Most of the jobs available are due to skill shortages. Personally I blame a combination of 50% of school leavers going the university route for careers that dont have the demand, a schooling system that doesnt train for trades and apprenticeships being less well paid that doing a weekend shift in argos!
Brent crude oil is floating around 100$ a barrel today. The last time, pre pandemic, it was this price was September 2014. The £ was stronger at that time.
The government also pumped millions into the economy to theatres, arts organisations and people who had been starved of money. This is good up to a point. Normally the economy gets this as a steady flow but when a rush of money arrives its going to increase wage demands as people have been suppressed for 2 years and when its a an employees market and there are more jobs than people that also increases wage demands.
@@RevorecRecruitmentSolutions it's easy for them to press the print button for wars, apps and furlough yet something that will kill many thousands of British people Nope nothing to do here.
Angry once but now just depressed - at least on the up side folks are waking up to the truth but without a complete systemic change the rich will continue to extract wealth from the state and the less well off will start disappearing.👍✌
Maybe but the one silver lining is that almost anyone can still bridge the gap between rich and poor still. Dont get me wrong, bloody hard, but can be done
Can't get EU drivers so wages pushed up to attract own UK drivers , supply chain costs increased and passed onto consumer and still not settled go to Dover and look at bleedin' great queue.
This really makes me angry if it is true. I’m a registered nurse and I was on the front line throughout the whole of the Covid pandemic. My husband is also a key worker and he worked throughout the pandemic so we didn’t claim one penny in furlough. So does this mean then that we can buy all our things at pre-pandemic cost. No of course it doesn’t, it means I’m being penalised for having put myself at risk by working on the front line with Covid patients, continually paying my taxes and national insurance and as a way of saying thank you the government are now virtually bankrupting me! Yeah nice one Wishy Washy… God help the country if you become our next prime minister. What a deceitful bunch of hypocrites the Conservative government are… I’ve always been a Conservative but you’ve shown your true colours this time. You won’t be getting my vote at the next election!
1 The only other option is keir starmer who's an even worse option. 2-I run a business and not a charity and labour doesnt understand that and 3-the torys are the lesser of two evils. Dont get me wrong I dont love the tories but Labour are short term ppl pleasers at best imo
It's numbers trickery. The Fed in the US believes in the Phillips Curve. To combat inflation they will need to raise interest rates above the inflation number (not possible), or increase the numbers of those unemployed. The numbers unemployed will naturally reduce when they start to count those who are looking but not working. At the moment they don't count you if you're not looking. Soon all those without a job will become job seekers, but the jobs won't be there, so unemployment will go up...dramatically...but inflation will come down. They need a "reason" for this to make sense. I think around Sept/Oct there will be an "event", followed by a lot of job losses, then some kind of "temporary" (in Gov speak meaning permanent) universal basic income announced in March. The 2020's are going to be horrible, but it won't be Mad Max world at least.
I own a recruitment company, have access to tons of data and analytics and have been in the industry for over a decade. But you decide whether that qualifies or not
@@RevorecRecruitmentSolutions Unfortunately the statistic is slightly misquoted .. apparently the ONS stated back in May that "For the first time since records began, there are fewer unemployed people* than job vacancies." www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/may2022 *who are actually available for work.
cliff longlands well done that man ,at last a good explanation for the down turn , let's hope then that we are not stricken by another supposed lock down , !!!?? probably the supposed health and government lackies will be ignored ! Time to be positive and get back to some sort of normal then , don't be fooled a second time . thanks
A question also to take into consideration is, how much has the treasury received in profits shared with the Bank of England in the sale of debt? The central banks print money out of thin air, lend money to government by way of government bonds then sell them. Profits are then shared between the central banks and governments. Who are the share holders of Central Banks and who holds the gilts?
