Inflation hike: The UK's mortgage timebomb

[@gingerkilkus]

Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

[@leojack9090]

The stock market is no different, to maintain profit, you need to have some in-depth knowledge on the market.

[@TomD226]

True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.

[@lowcostfresh2266]

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[@TomD226]

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[@diane.moore-]

Thanks for speaking honestly about the real estate situation. The industry has driven home prices too high for most families. The solution is for prices to align with family budgets, even if it means a market correction. The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on the govt.

[@Grace.milburn]

The stock market is no different, to maintain profit, you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.

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[@MarKeMu125]

"Inflation is caused by higher wages" What utter bollocks, no one is getting good wage rises and we've had real term wage cuts since the 90's No. It's mass debt encouraged by 0% historical rates, unhealthy inequality caused by low taxes on wealth & lack of investment to attract business. Take BritishVolt for example, company failed as gov backing failed to be delivered. It's been sold to foreign investors just like everything else so they can extract more wealth from the country and leave us doing the work while others profit from it. The current BoE governor has no idea, exactly like Gewolb is saying. Millions will needlessly fall into poverty, the UK truly is going to be a 3rd world country if nothing changes.

[@ComputeCrashers]

Considering the real wage stagnation we've seen in the last couple of decades, saying that inflation is caused by workers demanding higher wages is basically saying that its our fault for inflation because we don't want to have a decreased quality of life

[@laurentwach7193]

well that's why we're a in a vicious circle. Now people can't afford to buy a house so they spend all their money in consumer goods since they have given up hope to ever accumulate any kind of wealth. So now some think the only way to reduce demand on consumer goods is to reduce people's purchasing power even more hence lowering wages. Otherwise how are they going to convince anyone that it's worth saving money again? we're in big trouble

[@stephenvince9994]

Quick lesson here. If I have say a car and print say 100 notes each purporting to be worth 100th of the car, we have a currency. If I print say 1000 notes, not based on the value of ten cars but still just the one car then in reality each note is worth one tenth of the original notes . This is called inflation. If you have money in circulation that is beyond the underlying value then yo9u have inflation. Ever noticed that when you get a wage increase after a little while your standard of living is just the same. thats why. Harold Wilson had it correct, one mans wage increase is another mans price increase. Only 25 per cent of people in the UK pay income tax. Thats the problem....too much free money in circulation. If someone somewhere is getting something for nothing then someone else is doing something and getting nothing for it. Thats called tax by the way....

[@laurentwach7193]

@@stephenvince9994 well what you are saying implies that the current wage is the fair pricing of someone's work and you assume that a pay increase doesn't bring any added value. It think it's debatable. Maybe a pay increase will make the worker more productive and more motivated. Also if the worker has a better pay and can handle his everyday life with less personal worries than he can focus better on his work and be more efficient. So I don't think it's accurate to say that a pay increase means that you get something for nothing.

[@paulhutchinson5608]

We know that wages have been chasing inflation. You can make the argument that raising wages doesn't help inflation, but you cannot make the argument that rising wages causes inflation.

[@stevecoppin6396]

strange that no one mentions huge profits made by supermarkets and energy providers.

[@sphinx1017]

Exactly, and Excess profits at that.

[@RazorMouth]

Tesco's profits are roughly the same as always 🤔

[@bionicspuds4616]

I’ve lived in the UK for about a year and a half. I spent a total of 4 years in England. It is crazy how much people waste here. I can’t speak for everyone, but I’ve witnessed people ordering £200 worth of groceries only for 75% of it to spoil in the fridge because it doesn’t get ate. Brits complain about not having money for groceries and then order take-away 4 times a week, and gamble it away on online casinos. I’ve seen people blast the heat so it’s scorching hot inside and then open windows wide open in the dead of winter. Then, they complain when the gas prices are so high. They’ll leave a massive 53” TV on all day. They’ll have 2 fridges and two freezers and run washing machines on the least efficient setting. They’ll blast the heat on mild, wet days so they can dry their clothes on the radiators. Waste not, want not.

[@stevecoppin6396]

@@RazorMouth if that's the case ,why are they appearing at select committee hearings ?

[@RazorMouth]

@@stevecoppin6396 to answer questions? Their profits are public, it's a public traded company. Look it up.

[@flkgaming5254]

This man spends hundreds of thousands of time just to help us. He helps those in need while also helping us. He always puts a smile on our faces and we should appreciate it. Hats off to Him! I love you dude. Crazy I've never payed attention to the Mysticflip on the internet movement when I say ancestral your a gift to our people

[@angelachanelhuang1651]

the more you know about what's out there

[@bluegoka]

Inflation always has and always will be printing money. Inflation (printing money) is the disease, rising prices is the symptom.

[@ratttttyyy]

This is literally the old definition of inflation from around 100 years ago. I wonder what changed!?

[@bluegoka]

@@ratttttyyy only governments can print money so they couldn’t blame anyone else but by changing the definition to _rising prices_ now governments can say “There’s inflation is because the companies are greedy” or “There’s inflation because the workers demand higher wages.” or “There’s inflation because there’s low unemployment.”

[@bluegoka]

@@hestiyani337 yes, but it’s still due to government’s intervention. Banks don’t compete promoting depositor’s safety but promoting easy lending because every bank has the government’s safety net via money printing. They know if they get into trouble the central bank will bail them out so they have an incentive to take bigger risks. If it works out, they keep the profits, if it doesn’t we get the bill. Worse still is, because people know this, people will take their money out of good small (some 100% reserve, so no lending is done) banks and put it on the _”Too Big To Fail Banks”_ This happened recently after the Silicone Valley Bank’s bailout where the government made whole creditors that had more than a billion dollars on their account. Far more than the $250.000 limit.

[@AP-nj1mr]

I so agree! Interest rates have been kept artificially low for far far too long.

[@shadrana1]

Dead on my friend.What I will say is that inflation acts as a lubricant to avoid the economy from blowing up if the government understands what causes the inflation in the first place and cuts spending to balance the economy over time.

[@sizyeterkiisteyin7081]

Not going to lie, but we are actually really proud to have an employee like you as part of the team. The job is done so gracefully and neatly. Very well done, dear MYSTICFLIP . First of all. Thank you for making the work environment so friendly and taking your responsibility seriously and completing the work gracefully! You deserve so much.

[@efeavci2759]

Hey Sherry after taking your advice and getting the 51 point increase to my fico score, Mysticflip claimed my increase came from my car payment balance decreasing which I believe was a lie, hoping I'd not realized the real reason it went down and try the process all over again.....makes me realize these companies really wanna keep us down and indebted to them...am I crazy for thinking this way?

[@philipjones9458]

Bailley earns £550,000 pa. When asked by a select committee what his salary was he didn't know.

[@cemrebestggdir]

I finally got funded yesterday!!! It took almost 2 weeks to go through this process! I just want to say it was because of you that I continued the process! I wanted to give up but I didn't you helped me navigate through all the red tape! Praise God and thank you MYSTICFLIP

[@ardadurhasan6923]

As a Retired combat Marine I want to tell you that as what you are doing is just as important as any warrior on the battlefield. You are waging warfare against these criminals and terrorists on the digital battlefield. You are defending and protecting the most vulnerable of our society against these predators. Keep up the good work MYSTICFLIP on the internet

[@garryallison4716]

I think it is the magic money fairy, money printer and debt and stupid energy policies

[@garryallison4716]

@@growsethjones7249 I think repo, because rates are still going up caused be currency debasement and cost push inflation. So no all interest rate rises will is steal people’s hard earned. Remember that high inflation helps pay off government debt, high interest suits the banks and we get shafted as usual. Inflation will be back in the winter!!

[@ph8077]

ESG & Net Zero are ideologically driven, not ecologically driven.

[@garryallison4716]

@@ph8077 couldn’t agree more👍

[@sadeoyun3763]

This message is to recognize your contribution to the team’s grant approval success. Your commitment had been exemplary and your hard working is an inspiration to everyone around you. You’re a professional MYSTICFLIP

[@paulotheurbanfarmer5982]

if house prices were the correct value, 4.5 times earning i.e 50% off we would not even be worried about normalising rates

[@michaelm5741]

Absolutely! House prices are eye watering! I don’t understand the obsession with having huge house prices in this country, it’s only benefits a few at a very particular time in their financial lives.

[@Saturntabbytype2]

The correct value should be 3 times the earnings so 65% off would normalise it.

[@Saturntabbytype2]

@@michaelm5741big egos and narcissistic personality disorder

[@ComputeCrashers]

That would be the dream. But whilst we dream, people are talking about cross-generation mortgages

[@michaelm5741]

@@ComputeCrashers FML! 😂

[@kalyan9074]

When fuel and energy prices go up the price of everything is bound to go up. Treating the symptom alone without addressing the root cause is unwise

[@Soraviel]

In the UK, almost everything is imported in the isles lol, I doubt many products or energies are done (made in the UK) anymore. 😶

[@iblendallday]

I've heard they treat any illness with paracetamol over there

[@user-Wojciech]

​​​​​@@Soravielcompanies providing services pay more for energy as well and it eats a big chunk of their income and also gets passed onto customers. Some are going bust because of this. They've not been protected by a cap and many have to pay 5x more for energy than 2 years ago.

[@shadrana1]

Labour are proposing to shut down Norse Sea Oil for fecks sake.That is lunacy.

[@cemilemotorcu8688]

This man spends hundreds of thousands of time just to help us. He helps those in need while also helping us. He always puts a smile on our faces and we should appreciate it. Hats off to Him! I love you dude. Crazy I've never payed attention to the MYSTICFLIP on the internet movement when I say ancestral your a gift to our people

[@angelachanelhuang1651]

America is a place of no monarchies

[@ComputeCrashers]

Let's blame the wages going up for inflation and not mention record profits for many large companies

[@jjefferyworboys8138]

Ironically no one cares when a companies profits fall.

[@angelachanelhuang1651]

Disneyland is great. who wants to go?

[@kaandemir2748]

Honestly, we need more people like you MYSTICFLIP if we had an army of people like you, we could stamp out these total loss in no time. I love that you are helping the victims, too it's ultra gratifying when you are to save people in real time like you do thanks 🙏🏻 for getting ours approved

[@Exciteddelirium1]

I still see the pubs packed every friday night, 21 plate to new cars parked up on drive ways, shopping trolleys full of non essential crap. Holiday bookings increasing by almost 30% year on year..... The really poor may be struggling but the middle class cannot seem to stop spending

[@iblendallday]

That's what this is,just another case of the rich getting richer the poor getting poorer

[@meljen8592]

The middle class no longer exists ,it’s simply rich and poor.

[@julietill2499]

UK salaries are incredibly low. The assets of the country have been sold off. Brexit has added unnecessary costs and has brought no benefits. The blame lies in Westminster.

[@DPK12]

The sooner property debt crashes the better, let’s get back to 3.5 times salary and stop feeding the banks

[@Paul-eb2cl]

One thing that has not been mentioned is that companies are posting record profits during a period of high inflation. This is interesting because it shows we are in an unprecedented situation (in its truest sense). A decade of free money, two government policies (help to buy and stamp duty reduction) that have inflated house prices, the massive inflation of company values due to share buybacks, huge increases in boardroom payouts and the older generation pulling their pensions out of stock markets to fund their retirement, which added to the inflationary pressures.

[@andrewlee6576]

Some companies are making record profits. Not all companies are. If they were, we'd expect to see GDP charging ahead at 4% growth or something like that.

[@kFitz-o1y]

Interesting you point out the help to buy but not buy to let which has essentially blocked the market for first time buyers. Less money moving through the economy as not everybody has enough money.

[@BigHenFor]

You don't understand pensions in the UK, do you? Pensions are largely not invested in speculative assets, but in debt instruments. It's a balance between accumulation and distribution. The fight against inflation is devaluing those debt instruments, which they use as collateral for leveraging their investments. Hence the Truss-Kwarteng Budget Crisis necessitating the Bank of England having to buy Gilts to support their value, as UK sovereign debt values crashed briefly. Most workers in the UK have Defined Contribution pensions provided by insurance companies. Very few people manage their pension themselves. So, withdrawals are allowed at 55, but with the effect of that has disappeared with the closure of the far more generous Defined Benefit Schemes. Yes, many took lump sums and put them into the Housing Market in the last decade or so, but now that boat has sailed. The Defined Contribution pensions are far less generous, reflecting the underperformance and chronic low pay in the UK economy as a whole.

[@bionicspuds4616]

Cupboards and fridges full of food: “let’s order Chinese food.” Semi-chilly day: “blast the heating.” Raining outside: “turn on the heat so we can dry our clothes on the radiators.” Don’t winterise your property: “why are the utility prices so high.”

[@Paul-eb2cl]

@@bionicspuds4616 Creaking floorboards, teeming with dust: "They never clean this place up properly." Chilly winds outside: "Why can't the neighbors close their windows properly? It's freezing in here!" Raindrops tapping on the roof: "The whole world conspires against me! Now the roof is leaking!" Refusing to adapt or change: "It's their fault, not mine, that everything's falling apart."

[@l3eatalphal3eatalpha]

The Lancaster guy is incorrect. Wage demands are not being met and have been below inflation for years so are minor drivers of inflation. The BoE has few big levers and even though they may be the wrong tools for the job he says "what else can they do?" - well, not put interest rates up since excess money is not the main driver of this inflation, so you are just creating a new problem. It is like watching Homer Simpson avoiding disaster at the nuclear power plant by randomly pressing buttons.

[@philipjones9458]

Gewolb is absolutely correct. All central banks are using the same playback. Bailey is utterly useless. Definition of Inflation is an increase in the money supply.

[@frmcf]

If you're saying that doctors' and nurses' salaries are driving inflation, then that's the same as saying it's demand-side inflation, since their wages do not affect the operating costs of businesses.

[@Brian.Heffernan]

Roger has the sence of it..... If people have to choose betweet heating and eating... how will raising interest rate fix the problem...

[@Saturntabbytype2]

Meanwhile in France interest rates sit at 1.2% and have done for years ,there is a very sadistic side to the British way of life ,we the people are being punished for brexit by the elite

[@christopheradderley6902]

3% or so by the end of this year… the base rate… consumers will face 4% or so… reality for us is the United States leads the way.

[@johnboy14]

Or we have been living beyond our means. People buying houses that are 9-10 times is just insane. Interest rates should not have been non existent for 15 years. The BOE and this Tory government have made such a mess, that it will take a mammoth effort to get out of this.

[@I_like_YT_lots]

@@johnboy14 Is not just BOE, is a global issue for all OECD. This was the the "kick the can down the road" policy to ease the burn from GFC. IF interest rates weren't low there won't be all these "growth" we had experienced the last 15 yrs due to practically "free money". The issue comes about now QE had provided too much money in the monetary system with COVID handouts (especially dodgy loans in the UK) this has further fuel this inflation. TBH the best thing I think we at least need to do is provide food and energy for the people as start by reintroduce food stamps so people don't suffer. Interest is going to stay up even more as GLOBALLY we are in a mess, QE will just drive inflation up even more now and the only tool the governments in the world has is interest rates. With China economy slowing down due to the affects of COVID we will all be in rough ride. Is OK for the super rich thought as they can claim losses to the businesses since they don't pay themselves anyway and don't pay any corporate or personal tax.

[@petercottier1376]

And what do you think interest rates of 1.2% will achieve? You don't think there'll be any consequence for that?

[@Minzalin]

France doesn't set its own interest rate as it is part of the Eurozone. The Eurozone interest rate is currently 4%, so not that far below the BoE rate.

[@shuhel02]

Roger Gewolb should replace the current Bank of England Governor. He is 100% spot on, you can't compare the type of inflation we have today to the type we've seen in the past.

[@yusufyaman341]

Thank you so much MYSTICFLIP for my SBA approval. I understand the terms and conditions of the loan disbursal and will make sure that I return the loan amount in the stipulated timeline. As I have already taken insurance for my new Business that I am planning to open in California LA. My business details and owner details have been submitted in the bank and I will be submitting the further details as well as and when the times comes.

[@angelachanelhuang1651]

this one time I was at disneyland and.....

[@behrensf84]

You guys don't have 30 year fixed mortgages like here in the US?

[@jamesbrowne7601]

10 years max if you can get one

[@mrmeldrew693]

We also have to pay £1000 fees everytime we get another mortgage 'product' for some reason. It's all a con.

[@portoutboy]

Good debate which included differing views where there was no one winner.

[@gordoncharles741]

Lots of losers though.

[@swiatlowiekuiste]

Jokes on you, here in Poland 95% of mortgages are on variable rate and interest rates went up from 0.1 to 6.5% meaning many people have to pay 100% additional rate consisting of bank interest only. Many people are defaulting of course but there is not much buyers atm

[@johnpettigrew83]

Blackrock will buy your home at auction and rent it back to you via a cbdc..think chicken feed scattered around a wire enclosure. 15 min city.

[@PMIRL]

🎯

[@williambaker427]

Quality debate 👍🏻

[@jhutfre4855]

England

[@iblendallday]

Nah mate the American is the MVP,the English guy is the water guy

[@elrevesyelderecho]

18:45 BoE should stopped printing money shortly after the furlough scheme ends and they should started raising interest rates back in Q1 2021. But, the government prefers kept us wasting one year under the pandemic rules and here we are.

[@tonydolton4544]

We need a ten year fixed rate mortgage

[@shiningstar7775]

They already exist.

[@FHIPrincePeter]

1.Keynesian economics over the Covid period 2. Supporting and prolonging the war in the Ukraine 3. Remove Andrew Bailey from being Governor of the Bank of England - One needs only to look at his performance while head of the FCA!

[@javiermartingonzalez4759]

BREXIT BREXIT BREXIT BREXIT BREXIT BREXIT

[@AddilynTuffin]

Higher interest rates, concerns about a possible recession and instability in the banking system have plagued smaller stocks. I'm still at a crossroads deciding if to invest $400k on my stock portfolio. what’s the best way to take advantage of the market?

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If you're not who understands strategies to invest in the market, seek a Financial advisor to guide you.

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Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $800K within a short time

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I'm being guided by *Sharon Louise Count* . She is a well known advisor. You can simply search her name on the web So that you can easily get in touch with her. she has years of experience in the financial market

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Thanks, I just googled her full name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.

[@Saturntabbytype2]

Its the shared ownership equity loans are going to be hammered the most £450 rent and £880 for the mortgage.dire concerns.

[@CD-pq1yv]

When the only tool you have is a hammer…creating a mortgage bank that can offer 30 year fixed rates is the solution. It’s very straightforward.

[@kalyan9074]

I wonder why no one is talking about supply chain disruption and energy price rises secondary to Russia Ukraine war. Increasing the interest rates would not make any effect on these issues other than making common people poorer. Increasing interest rate curb inflation is not going to be applicable when there is a raging war. Sensible thing to do is to find ways to end the war rather than fund the war.

[@edwardbrady5843]

When are they selling the 1 euro houses in Sheffield?

[@neilpritchard5078]

Talking about it as just interest rate % (saying gone up from say 1% to 5%) doesn't really show the reality of how bad it is, my remortgage has gone up 3.5% (1.59% to 5.1%) in reality/the real world that's an extra 26%ish a month

[@Loundsify]

14 years of basically over supply of m2 (pound Stirling) is what the issue is. The idea was to stimulate the economy but it didn't and all thats happened is asset prices have gone up too quickly and now people want wage rises... Shock... not. Weaken pound on in a country thats a net importer.

[@mycarispassat]

The easiest route towards reducing costs and inflation is to pump more oil… once reduction in oil costs hits the manufacturing sector/logistics, the prices will come down.. The govt is cucked into following lobby groups like just stop oil and won’t do what’s necessary to reduce day to day costs.. Grocery shopping shouldn’t be so expensive… I honestly don’t know how people are faring today with increased costs

[@MustafaDel]

First of all.Thank you for making the work environment so friendly and taking your responsibility seriously and completing the work gracefully! You deserve so much. He does what he says he is going to do and his ethics are of the highest quality. MYSTICFLIP

[@caracal9458]

John obviously a man with no mortgage, and probably thinks it's the fault of the people who dared to buy a house in the first place

[@relentlessturnip9310]

I am going to have to move to an interest only mortgage come January. I have worked for 20 years to give my family the things they need. I am talking food and clothing not luxury holidays. I work 60 hours a week for this. They need to rethink how they tackle inflation this is causing a massive detriment to the hard working people of Britain.

[@michaelc318]

I agree 👍

[@Astro_Gnome]

It's just another massive transfer of wealth. Some will win, most will lose.

[@AydınKılınç-o8b]

Hello , Do you think MysticFlip can have a mortgage foreclosure be removed ????

[@DavidBrown-bs7gg]

Hiking interst rates is pulling a lever not connected to the reason for our inflation. Pulling it again and again is making no difference

[@InquisitiveBaldMan]

The best and least painful way to take excess money out of an overheating economy is higher taxes for the rich. Tacking the money off struggling homeowners or workers through interest or lower wages is disgraceful.

[@BillyBob-hk2vb]

@Roundtable, can you list the persons taking part in your videos? Thank you!

[@jaguppal187]

WE NEED HIGHER INTEREST RATES - 10% + NOW FOLKS!

[@jagwa95]

1970s Richard Nixon went on national tv and tol the corporation to stop raising prices inflation was controlled in 6 months government dosen't make prices it's the corporate world is raising and profits keep going up

[@GNK1111]

Great contribution from Roger Gewolb! He just seemed to be 'in touch' and offering ways forward. I also like his honest and enthusiastic responses. Thank you.

[@andrewlee6576]

He's not an economist. Not sure he really understands how the economy actually works.

[@joneslive586]

​@@andrewlee6576his 6 step plan suggestions are excellent, are you kidding?

[@octam5409]

Thumbnail has the letter “ i “ twice in the word inflation and it is really bugging me

[@finnmeister]

The American chap is ABSOLUTELY right. Cut VAT.

[@mango4ttwo635]

how can inflation be cost push when the rising wages have happened AFTER the inflation? Total nonsense. We know that we have increased the money supply through QE/and 0% rates and that we now have high inflation. Maybe, perhaps it is likely that the two things are connected. It is not wages which are down in real terms and the nominal rises happened AFTER the inflation.

[@TheRobsterUK]

Whilst I agree that the current level of salary increases is no doubt fuelling inflation TO SOME EXTENT, it should be remembered that most people's wages have basically stagnated for 30+ years and a lot of people are actually on effectively 20-30% LESS than they were since 2008. So to blame people for inflation because they want to (for once) get paid a fair wage is a bit rich, especially since corporate profits have soared for decades and the public paid the price for the 2008 crash whilst the financial sector walked off with £billions and a slap on the wrist.

[@ratttttyyy]

Wages the same as they were in 2005. Yes, wage demands are causing inflation. This is just 'blame the plebs, not us' tactic.

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[@eerie87]

Roger Gewolb was the only person on the panel talking sense.

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[@FlorianWerfel324]

I received assistance from Sir Joseph Sylvan Anderson, and I profited handsomely from my investment. But in the end, it all comes down to how much money you invest. You might be able to earn more if you have a sizable start-up budget.

[@Madisynmueller]

Since my divorce, I've been having financial difficulties, and when I Googled his name, I only just learned about his impressive resume. Today, I consider myself lucky.

[@jacobfinder009]

Inflation is currently at a four-decade high, making the Recession the "most likely outcome for the economy," and I cannot fathom becoming a victim of circumstances. My portfolio took a significant hit, so holding it any longer won't be beneficial. This red season, I've heard of individuals who have taken in hundreds of thousands. How can I guarantee this?

[@markmcculloch2570]

Brilliant guests!

[@matty506]

We could always increase supply of whatever prices are rising the most.

[@footyball66]

Lower interest rates now! there is no need to keep raising them!

[@darkomilic9734]

Supply side inflation can not be controlled by increasing interest rates as business will pass on the higher interest costs thus only adding to inflation. How do you control corporate greed?

[@hwitte73]

Why not a mortgage fixed for 15 years instead of 2 or 5 years.

[@flamboyentpromotions3471]

How is 3-4 years a short sharp recession?

[@kal2521]

Same.story in canada and closser is Australia. By the way the house is yours after fully paying the mortgage not before. Also on the mortgage agreement says it. This house belongs to the bank till its paid out.

[@javiermartingonzalez4759]

Have a big problems Inflaction in Spain jun 1"9% and the oil is low to much

[@JoeMarine]

Cost push inflation means that the cost of goods have gone up because the cost of trade has gone up. Raising interest rates increases the cost of production and that is why inflation is not reducing. We have to take down trade barriers with our neighbours so supply goes up and costs drop.

[@sallypickard2227]

Bussiness s are suffering to a point of closing down if no one buys they close .

[@sallypickard2227]

The gas and electricity. Charging 57p standing charge for nothing in return .the profit they make out of the poor ..sad

[@jamesprivet]

Good discussion, thank you.

[@joncumberbatch852]

How about freezing not just wages but also profits in the same way Nixon did in the 1970s

[@kellywalker4494]

Printing a ton of money was moronic. Where is all that money now? It’s already in the pockets of the rich.

[@y.cschmidlin8172]

Stop creating money out of thin air to finance public budget deficit and the debt, meaning make sure government spendings are not out of control. The governement should stop spending like crazy

[@joncumberbatch852]

It's a pantomime and so the finger pointing starts! But nobody ever admitting this is the mess we end up in when you deregulate policy makers and banking but still allow a free for all in relation to money printing and who gets it chucked in their direction! 2008 Banks 2020 Pharmacy's 2023 Military industrial complex! We wonder why politicians like to party

[@pennysmith9999]

How can it be a skill shortage? So many able people on the dole and they can still go on holiday. Wake up

[@aleksmilenkovic1592]

capitalism just failed

[@RedPapaG]

The bespectacled chap in the studio feels like he is performing.

[@GaminHasard]

Yes. This is predictable. People can’t pay. So need to sell. Prices will come Down.

[@michafrica]

British economy is worst than British roads. Just a lot of well connected people make bunch of money doing nothing

[@martinleung212]

Signing some contract in 48 hours mean only two things: you agree to everything the other partner asks, and you don't negotiate to get the best terms and conditions for yourself. Easy, but the outcome??

[@stevenmitchell7830]

Increasing interest rates causes inflation as people have to demand higher wages in order to pay their mortgages.

[@normski262]

Why pay a national debt, the country owns the pound or should do, throw the banksters out. The UK should take back control, Fiat, Ponzi scheme!!

[@mango4ttwo635]

The consumer fellow gives no answer at all to: What would you do? All his answers are: make life easier! But what if that causes more inflation dumdum? There is a lg after interest rate rises. they will have to remain elevated for at least a year. And then, once inflation is properly under control for a year at around 2%, keep rates higher than inflation but lower than now. Perhaps at 4%. Never allow them to be 0% again!!!

[@isadestioglu7493]

first of all.Thank you for making the work environment so friendly and taking your responsibility seriously and completing the work gracefully!You deserve so much.He does what he says he is going to do and his ethics are of the highest quality.MYSTICFLIP

[@angelachanelhuang1651]

I mean, I was at disneyland and...

[@SteveEboy71]

john from Leicester say there will be pain then a recovery, but why is it that its allways the poor that have to take the most pain.

[@jeezy8360]

What wage rises? Did he mention unions are to blame?

[@peraugustesen8800]

The operation was successful but the patient died.

[@vanng5689]

I am with Roger Gewolb. Mark Carney please come back!

[@aesma2522]

Funny to have this interesting exchange on a Turkish channel with no mention of the situation in Turkey...

[@Jklo2337]

To be honest, inflation somehow causes by a rise in wage level. My bus ticket rises from 55 to 60 per month recently after a wage rise of bus drivers. Who can I blame for?

[@Nabraska49]

Hypothetically.. what would happen if we hit peak oil back in 2019 .. what would the world do and look like as the supply of oil started it’s never ending decline.. it would be unthinkable… people would all have talk shows about the symptoms but not about the cause because it would be to painful to talk about .. most people would be in denial… blaming the symptoms and arguing the symptoms on everything but the real underlying cause… an economic system built to run on cheap endless oil will break when there is not enough oil to run it .. the discussion designing and planning needs to be done now . A system that hasn’t got cheap abundant oil as the centre pillar… those days are all gone and the sooner you all pull your heads out of what ever they are stuck in the quicker things can get moving in the right direction. But what they are teaching at those brainwashing factories called universities is cow farts and transgender studies… not the things we need to have our best brains full of when we are facing the biggest problem in civilised history.. we are screwed by our own stupidity… looks like it is back to the caves to thinks about it for the next couple of million years.

[@bakedbean37]

"back to the caves" I've been saying for a while now that the future is very likely to look a lot more like The Flintstones than The Jetsons.

[@MrLittlecat123]

If doesn't increse interest rate, exchange rate would drop. as all fund and investment are moving to US.

[@sallypickard2227]

Most kids are getting starved and put into care ...sitting cold in winter..can't afford to get bath .this is uk ..money as no value .