Genie Posted June 20, 2022 Author Share Posted June 20, 2022 Things were better in a pandemic! That’s quite a situation isn’t it. Link to comment Share on other sites More sharing options...
foreveryoung Posted June 20, 2022 Share Posted June 20, 2022 54 minutes ago, PieFacE said: Yeah I can't help but feel we're on the brink of massive recession again. Things are looking quite bleak. Without looking haven't we had a recession around every 10 years for about 50 years, I think it's fairly standard now. No one wants a recession, but it does reset the economy. In reality, I think we are in it now! Link to comment Share on other sites More sharing options...
stuart_75 Posted June 21, 2022 Share Posted June 21, 2022 13 hours ago, Delphinho123 said: Wait til people start remortgaging on these higher interest rates too. At the moment, people are still paying their fixed rates on whatever mortgage they have and relatively low energy bills because nobody is heating their homes at the minute. Wait until December/January when it’s cold and some of those cold people have also remortgaged… When I come off my fixed rate in Feb next year, my mortgage cost will be £140 higher per month. My energy at that time will likely be £200 more a month too. Pair those with the cost of food, petrol, tax increases and whatever else has gone up, I think in Jan ‘23, I’ll be about £450 worse off than Jan ‘22. I can afford it, because I have to afford it. Holidays, new car, eating out, takeaways, coffee, the pub, renovation work, you name it, that’s all finished for me. Now, if that’s what I’m doing, a person that can afford these increases (just), what the hell is a person who can’t afford it going to do? I honestly can’t see anything but a major crash in our economy and a fairly lengthy recession. House prices will drop leaving a lot of people in negative equity whilst paying extortionate mortgage rates. People will just stop driving anywhere. Tradesmen will suffer massively as people scale back. Restaurants and pubs will shut as they can’t afford to buy the food in and nobody is walking through the door anyway. This s*** is going to get serious. And I think we’re in it for the long run. I've used tradesmen a couple of times this year and they still seem to be booked up for months and months in advance and quoting silly prices for jobs just to see if you're desperate enough to accept. 1 Link to comment Share on other sites More sharing options...
tinker Posted June 21, 2022 VT Supporter Share Posted June 21, 2022 Well Range Rovers are flying out the door at JLR, can't build enough of em and they are £100,000 motors. It's not affecting everyone that much! The real squeeze is at the lower end of the pay scale, it will reduce their quality of life, the only answer is to work more hours , get second jobs. It will increase our productivity no end..... Link to comment Share on other sites More sharing options...
Delphinho123 Posted June 21, 2022 Share Posted June 21, 2022 12 minutes ago, stuart_75 said: I've used tradesmen a couple of times this year and they still seem to be booked up for months and months in advance and quoting silly prices for jobs just to see if you're desperate enough to accept. Yeh, they will be, but that bubble will burst. I’ve just stopped using them all together tbh. Most of them just take the piss. 1 Link to comment Share on other sites More sharing options...
foreveryoung Posted June 22, 2022 Share Posted June 22, 2022 So apparently wholesale fuel costs dropped significantly yesterday. I wonder when they are gonna drop the prices at the pumps. Problem is, it'll never go anywhere near 12 months ago prices.. 60p up a litre since then, around £2.50 a gallon, crazy when you think about it!! Link to comment Share on other sites More sharing options...
bickster Posted June 23, 2022 Moderator Share Posted June 23, 2022 7 hours ago, foreveryoung said: So apparently wholesale fuel costs dropped significantly yesterday. I wonder when they are gonna drop the prices at the pumps. Problem is, it'll never go anywhere near 12 months ago prices.. 60p up a litre since then, around £2.50 a gallon, crazy when you think about it!! Crude Oil prices have been falling since 8th June Before @lapal_fanannounces the mythical 1 week from market to punp theory $120.89 at it's peak, it is currently $107.31 Anyone notice that 10% drop at the pump yet? Still going up here It took a big drop on 17th June from $117 to $110 1 1 Link to comment Share on other sites More sharing options...
stuart_75 Posted June 23, 2022 Share Posted June 23, 2022 2 hours ago, bickster said: Crude Oil prices have been falling since 8th June Before @lapal_fanannounces the mythical 1 week from market to punp theory $120.89 at it's peak, it is currently $107.31 Anyone notice that 10% drop at the pump yet? Still going up here It took a big drop on 17th June from $117 to $110 I think Brent crude needs to be under $100 for us to see a few pennies shaved off a litre. Can't see that happening in the short term though. The pound is still getting smashed against the dollar. Link to comment Share on other sites More sharing options...
sidcow Posted June 23, 2022 VT Supporter Share Posted June 23, 2022 5 minutes ago, stuart_75 said: I think Brent crude needs to be under $100 for us to see a few pennies shaved off a litre. Can't see that happening in the short term though. The pound is still getting smashed against the dollar. Can't understand why that would be. Not with us having the fastest growing economy in the G7. What's that you say? I'm sure I've heard Boris telling us this even recently. Link to comment Share on other sites More sharing options...
stuart_75 Posted June 23, 2022 Share Posted June 23, 2022 Just now, sidcow said: Can't understand why that would be. Not with us having the fastest growing economy in the G7. What's that you say? I'm sure I've heard Boris telling us this even recently. Went to rat shit the day after Brexit and took 5 years to slowly climb back up to 1.41, now for some unknown reason its now at 1.20. Might as well rename the Pound to the English Lira or Rupee Link to comment Share on other sites More sharing options...
Harkanon Posted June 23, 2022 Share Posted June 23, 2022 On 21/06/2022 at 09:25, tinker said: Well Range Rovers are flying out the door at JLR, can't build enough of em and they are £100,000 motors. It's not affecting everyone that much! The real squeeze is at the lower end of the pay scale, it will reduce their quality of life, the only answer is to work more hours , get second jobs. It will increase our productivity no end..... working in the finance sector for the automobile industry this just isnt true. JLR have mad a loss of over 400m million the last year. They can't build enough because of a global chip shortage - not because they have a surge in demand. 1 Link to comment Share on other sites More sharing options...
Genie Posted June 23, 2022 Author Share Posted June 23, 2022 2 minutes ago, Harkanon said: working in the finance sector for the automobile industry this just isnt true. JLR have mad a loss of over 400m million the last year. They can't build enough because of a global chip shortage - not because they have a surge in demand. It’s both. The average Range Rover is nearer £200k than £100k. The backlog of these joined the massive orders for the new Defender. And now since then there’s also all new Range Rover Sport. Its unprecedented demand at the time of unprecedented restriction on supply of many parts. Backlog is getting towards 200,000 vehicles and growing. Link to comment Share on other sites More sharing options...
CVByrne Posted June 23, 2022 Share Posted June 23, 2022 On 20/06/2022 at 20:15, PieFacE said: Yeah I can't help but feel we're on the brink of massive recession again. Things are looking quite bleak. We are, that is the way to stop inflation is to cause a recession as it reduces demand which then reduces prices which stops inflation. The centrals banks only way to stop inflation is to cause a recession and that's why they're hiking interest rates so fast. 1 Link to comment Share on other sites More sharing options...
CVByrne Posted June 23, 2022 Share Posted June 23, 2022 On 20/06/2022 at 20:27, Genie said: Things were better in a pandemic! That’s quite a situation isn’t it. Well, it wouldn't have been if governments didn't print so much money to subsidise people for staying at home. All that money printing is what has cause a large part of the current inflation. Cause and effect 1 Link to comment Share on other sites More sharing options...
tinker Posted June 23, 2022 VT Supporter Share Posted June 23, 2022 1 hour ago, Harkanon said: working in the finance sector for the automobile industry this just isnt true. JLR have mad a loss of over 400m million the last year. They can't build enough because of a global chip shortage - not because they have a surge in demand. I'm line side at JLR , they can't build enough of them and are changing to a 4 shift production to meet that demand, they have stopped all the low cost models , XF and XE , so the chips all go to the Range Rover line. 1 Link to comment Share on other sites More sharing options...
foreveryoung Posted June 23, 2022 Share Posted June 23, 2022 2 hours ago, stuart_75 said: I think Brent crude needs to be under $100 for us to see a few pennies shaved off a litre. Can't see that happening in the short term though. The pound is still getting smashed against the dollar. Fuel still going up, £1.99 standard now, saw it at £2.09 at the services, this is deisel. If that isn't just blatent profiteering I'm not sure what is. I bet the energy companies profits will be even more next quarter. Link to comment Share on other sites More sharing options...
Genie Posted June 23, 2022 Author Share Posted June 23, 2022 6 minutes ago, foreveryoung said: Fuel still going up, £1.99 standard now, saw it at £2.09 at the services, this is deisel. If that isn't just blatent profiteering I'm not sure what is. I bet the energy companies profits will be even more next quarter. Was it ever confirmed if the handouts later this year are from a windfall tax on energy company profits, or from tax payers? Link to comment Share on other sites More sharing options...
stuart_75 Posted June 23, 2022 Share Posted June 23, 2022 7 minutes ago, foreveryoung said: I bet the energy companies profits will be even more next quarter. Just making up for the losses they made during COVID 1 Link to comment Share on other sites More sharing options...
Genie Posted June 23, 2022 Author Share Posted June 23, 2022 1 minute ago, stuart_75 said: Just making up for the losses they made during COVID It’s so they can invest in new technologies, which they can rip us off with later. Link to comment Share on other sites More sharing options...
stuart_75 Posted June 23, 2022 Share Posted June 23, 2022 5 minutes ago, Genie said: It’s so they can invest in new technologies, which they can rip us off with later. I keep waiting for all this cheap, clean energy they promise. No sign of it yet. 1 Link to comment Share on other sites More sharing options...
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