Energy Prices (Strictly NO referrals!)

LabR@t said:
Don't know who will be classed as 1st world? Japan and USA?
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Definitely not the US. The majority of Americans are thoroughly done with their country and quite frankly, I don't blame them.

A country that is self sufficient in food and energy would be considered a 1st world country. Russia anyone?
 
purplesky said:
Won't work though in a globalised world. Companies won't pay people more in the UK when they can get cheaper labour elsewhere. The Bank of England have also warned people not to ask for wage increases. Any widespread sign of this would be met with aggressive interest rate rises.

The only real option at this point is the natural one that we've seen before. Bankruptcy, job losses and repossessions. This will initiate mass demand destruction and start to bring inflation down. It should be noted that for every loser, there's a winner on the other side. Once the worst is over, I could only hope that people learn from their previous mistakes.
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Inflation is being driven by high energy costs globally, businesses going bust here won't do much to stop that.

Cap the energy costs (at a rate that still makes people reduce usage) and the main driving force behind inflation is put on hold. Deal with it longer term as a national debt rather than putting people on the streets.
 
The BoE idea that inflation can be stopped by hiking rates and making everyone suffer even more is beyond a joke. I genuinely do not know what those idiots are being paid for.

There was no inflation problem before Covid, despite the money printing (arguably except for housing but that's a special case). It is not a home grown problem, its not driven by the actions of us domestically. Solve the energy and fuel cost problems and inflation drops back to 2% as good as instantly.

People cannot avoid these costs so hiking rates, destroying businesses, will not change anything except make people suffer.
 
Puzzled said:
Inflation is being driven by high energy costs globally, businesses going bust here won't do much to stop that.

Cap the energy costs (at a rate that still makes people reduce usage) and the main driving force behind inflation is put on hold. Deal with it longer term as a national debt rather than putting people on the streets.
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Businesses are about to go bust globally, just like COVID went global. Do keep up.
 
Ahleckz said:
Has anyone got a Tapo P100 Smart Plug and can tell me how much energy it uses just being plugged in with the appliance it's attached to turned off? I don't have a smart meter and don't fancy turning everything off for an hour!
Thanks...
From searching looks to be around 1.5watts. I only have three so think I’ll just leave them on.
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That’s good, I wondered how much those things use.

I wonder how many businesses are going to seriously struggle. They can’t really pass the cost onto their customers either who will also have less money. A lot of people will be going out and spending a lot less. Tricky times ahead.
 
I think the central banks have more of a clue about inflation than anyone commenting on this forum, so better just allow them to do their job and quit being an armchair expert.
 
Puzzled said:
Cap the energy costs (at a rate that still makes people reduce usage) and the main driving force behind inflation is put on hold. Deal with it longer term as a national debt rather than putting people on the streets.
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If that was the case, the BoE would have advised the government and OFGEM of your inspiring thoughts. Obviously they haven't, proving that you know nothing about the subject.
 
purplesky said:
I think the central banks have more of a clue about inflation than anyone commenting on this forum, so better just allow them to do their job and quit being an armchair expert.
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I think telling people on a discussion forum not to discuss things is the dumbest thing I have read on here in a while. Do you practice this stuff?
 
rumple9 said:
Liz Truss at the hustings tonight saying no windfall tax on the energy companies - All the tory gammons in the audience were cheering
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Windfall taxes should probably also need to be applied to pharmaceutical companies who've made huge profits from the pandemic. I imagine they stand to make big money for the foreseeable too.
 
purplesky said:
The public majority. Politicians and bankers have never been on your side. But people have to place some of the blame on themselves. The problem is that people have been led into a false sense of security over the past 15 years or so. The lie is finally being revealed, and it started with Covid-19.
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Not sure how the general public can be blamed for any of this (other than voting the Conservatives in).
 
LabR@t said:
Don't know who will be classed as 1st world? Japan and USA?
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Ignoring cold-war era terminology (1st world: western block, 2nd world: eastern block, 3rd world: the non-aligned), the UK is definitely not a tier-1 country when it comes to quality of life in most relevant metrics.

I'd argue Scandinavian countries + Netherlands/Switzerland/Australia would be tier-1, then we have tier-2 countries like UK and central Europe, as well as the US/Canada/Japan, and the tiers below that.

purplesky said:
Definitely not the US. The majority of Americans are thoroughly done with their country and quite frankly, I don't blame them.

A country that is self sufficient in food and energy would be considered a 1st world country. Russia anyone?
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Actually 1st world just means countries that aligned with the west in the Cold war era with the added propaganda that 1st world = highly developed.
 
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