I always worked in the private sector where things were pretty grim with regards to pay rises, so I'm always a bit of a grouch when I hear our skint government being held to ransom by public sector workers. Things must be starting to look a bit brighter for them now after those few weeks of poverty.

Quote from: Nickslikk2112 on November 15, 2023, 10:46:33 AM

Quote from: David L on November 15, 2023, 07:15:34 AMInflation falls to 4.6%. Should be making money on our savings now, in real terms

(probably fiddled though - to allow the PM to reach one target)

I think most of the last year's inflationary pressures will have worked through by now anyway so the target would be hit whatever the government did.

And yes, most of my savings are now making me real money

Yes, this has nothing to do with government policy.
Amusingly, one element that has contributed is a fall in the cost of hotel rooms. Possibly because the environment in a lot of hotels is now far from what one used to expect.

Recession worries as GDP falls sharply. Have the BoE gone too far?

Quote from: David L on December 13, 2023, 09:10:24 AMRecession worries as GDP falls sharply. Have the BoE gone too far?

You only have to look around any supermarket car park to realise that this economy we currently inhabit is not sustainable. Folk in pretty ordinary jobs driving around in hugely expensive vehicles, catered for by PCP deals. Tradesmen on massively inflated hourly rates of pay due to the country's lack of skilled labour. A huge amount of credit card and mortgage debt. I think we're on a cliff edge. Yours, Ebenezer.

Quote from: The Picnic Wasp on December 13, 2023, 09:36:47 AM

Quote from: David L on December 13, 2023, 09:10:24 AMRecession worries as GDP falls sharply. Have the BoE gone too far?

You only have to look around any supermarket car park to realise that this economy we currently inhabit is not sustainable. Folk in pretty ordinary jobs driving around in hugely expensive vehicles, catered for by PCP deals. Tradesmen on massively inflated hourly rates of pay due to the country's lack of skilled labour. A huge amount of credit card and mortgage debt. I think we're on a cliff edge. Yours, Ebenezer.

That's exactly how I felt before the crash in 2008 and things didn't really change. The current model of debt works....for the banks....and government. The important thing is that the individual is reliant on either the banks or the government for a comfortable existence
'Unsustainable' has been made sustainable...by design IMHO

Quote from: The Picnic Wasp on December 13, 2023, 09:36:47 AMYou only have to look around any supermarket car park to realise that this economy we currently inhabit is not sustainable. Folk in pretty ordinary jobs driving around in hugely expensive vehicles, catered for by PCP deals. A huge amount of credit card and mortgage debt. I think we're on a cliff edge. Yours, Ebenezer.

But people don't have to drive round in huge cars and ram their homes full of stuff they don't need and pay vast sums to go and vomit in far flung countries. You don't have to buy what people are trying to flog you and borrow the money the banks want you to have to buy this shite.

If only people had a bit of nous and thought for themselves. If only.

Every car I've owned has been second hand. The only money I've ever borrowed was a mortgage and mortgage rates back then were 15%.

Neither a borrower or lender be and plough your own furrow.

Quote from: Nickslikk2112 on December 13, 2023, 03:33:06 PM

Quote from: The Picnic Wasp on December 13, 2023, 09:36:47 AMYou only have to look around any supermarket car park to realise that this economy we currently inhabit is not sustainable. Folk in pretty ordinary jobs driving around in hugely expensive vehicles, catered for by PCP deals. A huge amount of credit card and mortgage debt. I think we're on a cliff edge. Yours, Ebenezer.

But people don't have to drive round in huge cars and ram their homes full of stuff they don't need and pay vast sums to go and vomit in far flung countries. You don't have to buy what people are trying to flog you and borrow the money the banks want you to have to buy this shite.

If only people had a bit of nous and thought for themselves. If only.

Every car I've owned has been second hand. The only money I've ever borrowed was a mortgage and mortgage rates back then were 15%.

Neither a borrower or lender be and plough your own furrow.

You and me  - and don't  they hate us!
 We are, I'm afraid, a diminishing breed (I think they must be adding something to Big Macs)

Quote from: Nickslikk2112 on December 13, 2023, 03:33:06 PM

Quote from: The Picnic Wasp on December 13, 2023, 09:36:47 AMYou only have to look around any supermarket car park to realise that this economy we currently inhabit is not sustainable. Folk in pretty ordinary jobs driving around in hugely expensive vehicles, catered for by PCP deals. A huge amount of credit card and mortgage debt. I think we're on a cliff edge. Yours, Ebenezer.

But people don't have to drive round in huge cars and ram their homes full of stuff they don't need and pay vast sums to go and vomit in far flung countries. You don't have to buy what people are trying to flog you and borrow the money the banks want you to have to buy this shite.

If only people had a bit of nous and thought for themselves. If only.

Every car I've owned has been second hand. The only money I've ever borrowed was a mortgage and mortgage rates back then were 15%.

Neither a borrower or lender be and plough your own furrow.

But it's that word again that I'm trying to use less often as I'm a bit obsessed. Entitled. They really believe this can go on forever. Sit at home for a few months and the government will borrow tens of billions to allow you to save money and splash the cash when you're allowed out again. Utter madness. I've always lived in the same town. It was a quiet, leafy suburb until about ten years ago. Now you can't cross the road unless you go to a crossing. A constant stream of traffic in both directions, heading who knows where after leaving their three or four car driveways. Ach, maybe I'm just old and bitter, but I think I'm right.

Quote from: Nickslikk2112 on December 13, 2023, 03:33:06 PMNeither a borrower or lender be and plough your own furrow.

Fine sentiment but soon they won't allow you to plough any furrow, unless the plough is powered by, wind, solar or a shire horse. And only then if Bill Gates has left you any land to plough 

Quote from: David L on December 13, 2023, 04:20:04 PM

Quote from: Nickslikk2112 on December 13, 2023, 03:33:06 PMNeither a borrower or lender be and plough your own furrow.

Fine sentiment but soon they won't allow you to plough any furrow, unless the plough is powered by, wind, solar or a shire horse. And only then if Bill Gates has left you any land to plough 

My plough is bicycle powered and my land is Freehold

Quote from: The Picnic Wasp on December 13, 2023, 04:11:00 PMI've always lived in the same town. It was a quiet, leafy suburb until about ten years ago. Now you can't cross the road unless you go to a crossing. A constant stream of traffic in both directions, heading who knows where after leaving their three or four car driveways. Ach, maybe I'm just old and bitter, but I think I'm right.

Yes, the amount of traffic today is ludicrous. I've always lived in the same town, I took up cycling seriously back in 2015, back then I could ride down the road where I grew up at an average of 20+mph, these days I'm lucky to do 15mph with all the parked cars and traffic.

Does anyone have 3/4 car driveways? people used to manage with a one car garage, now they move in, brick up the door and make a new room, leaving a drive for one car and three more on the road. I was born old and bitter Perhaps this should be in what made you grumpy every day...

Inflation falls to 3.9% (nowt to do with the government, btw).
I'm not happy! Just had notification that the interest rate on one of my deposit accounts has been reduced. I think we'll see a rise again soon though as energy prices rise and oil supplies continue to be disrupted in The Red Sea

Quote from: David L on December 20, 2023, 08:14:44 AMInflation falls to 3.9% (nowt to do with the government, btw).
I'm not happy! Just had notification that the interest rate on one of my deposit accounts has been reduced. I think we'll see a rise again soon though as energy prices rise and oil supplies continue to be distupted in the Straits of Hormuz

Thankfully I got most of my savings into fixed rate deals a couple of months back
Managed to get a good chunk into NSandI's one year fixed at 6.2% just before it was withdrawn.

Quote from: Nickslikk2112 on December 20, 2023, 10:16:22 AM

Quote from: David L on December 20, 2023, 08:14:44 AMInflation falls to 3.9% (nowt to do with the government, btw).
I'm not happy! Just had notification that the interest rate on one of my deposit accounts has been reduced. I think we'll see a rise again soon though as energy prices rise and oil supplies continue to be distupted in the Straits of Hormuz

Thankfully I got most of my savings into fixed rate deals a couple of months back
Managed to get a good chunk into NSandI's one year fixed at 6.2% just before it was withdrawn.

I got that NS&I rate at that time too. I also have a big chunk in there!

It's been revealed that three members of the nine-strong MPC voted for a base rate rise to 5.5% 

They seem to think it's more imprtant to strengthen the banks' balance sheets than avoid recession. FFS, who the hell's interest are they supposed to be working for?  Bailey out!