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Inflation

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Comments

  • Posts: 261 ✭✭ [Deleted User]


    Holy Moly, that is just crazy and crippling. God help our businesses in this country.

    Dreading our next household bill too.



  • Registered Users, Registered Users 2 Posts: 414 ✭✭dorothylives


    Yeah, I was concerned about our next electricity bill, but when I got a generic email from Electric Ireland last week attempting to justify price rises and mentioning MABS and some other organisation for helping customers who can't pay their bills, that concern went to worry. Clearly they're trying to prepare customers for a huge shock with bills. Now, why they're bringing MABS into it I don't know. People can only spend what they have. Yes, some people can't budget but it doesn't matter how much you budget if your income doesn't allow you to cover food and bills and provide for you and your family. I dread to think what's coming down the line this Autumn/Winter.



  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78


    implement measures right now to save sme's, RIGHT NOW! borrow the fcuking money and prevent the oncoming carnage, RIGHT NOW! FFS!



  • Registered Users, Registered Users 2 Posts: 5,120 ✭✭✭Arthur Daley


    They can't, they've wasted the last 14 years spending like a drunk, a lot of it on things not really needed by the man on the street, splurges they could well do without.

    This is what happens when you've careerists and dreamers at the top.



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  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78


    bullsh1t, they can, deficit rules have been relaxed during covid, this still is the case, the government can currently borrow at 2.5% fixed, so just fcuking do it, to try reduce the severity of the oncoming carnage! once again, the majority of money created by central banks via their qe programs has not actually made it into the consumption economy, it has primarily remained within the financial sectors, inflating asset prices, basically making little or no difference to the average life of the average person



  • Registered Users, Registered Users 2 Posts: 414 ✭✭dorothylives


    They can't. The money is spent. They spent the COVID pandemic payment and 3 billion of next years budget already on Ukrainians. Christ only knows how much on hotels and B&B's for people coming here asking for asylum. They've said there's nothing they can do for Irish people. If you can't afford fuel for your car you're being told to contact your local Social Welfare Officer. There's a lot of people going to lose their jobs and a lot of people who will be homeless because they won't be able to pay their rent/mortgage. The hotel industry will be just fine though.



  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78




  • Registered Users, Registered Users 2 Posts: 7,664 ✭✭✭brickster69


    I suppose they know more than anyone about supply and demand's effects on future prices.

    Meanwhile another boomerang get's launched


    The old world is dying, and the new world struggles to be born: now is the time of monsters. — Antonio Gramsci



  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78


    ....exactly, i.e. energy price induced inflation! all businesses are currently experiencing a rapid rise in the cost of energy, some as much as 4/5 times in the last year, i know of a large factory whos weekly electricity bills have gone from 6k to 30k, in just the last few months, theres your inflation!



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  • Registered Users, Registered Users 2, Paid Member Posts: 1,452 ✭✭✭Sammy2012


    Can anyone tell us exactly how bad things are going to get for the average Irish person? The government are spinning things to make them look more positive but exactly what is coming down the track? Like I know gas/electricity/kerosene/fuel for your car are all going to be much more expensive than we are used to in the coming winter. Food is also going to increase dramatically according to many. This means there will less money for discretionary things and this is not good for the domestic economy. Is it a case of batton down the hatches and hope for the best or are most of us in deep trouble?



  • Registered Users, Registered Users 2 Posts: 2,727 ✭✭✭Mr. teddywinkles


    Can I have some of this infinite money supply you seem to keep harping on about.



  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78


    we dont know, nobody knows, its actually impossible to accurately know whats gonna happen, but im fairly sure the average child can now see that most sme's are in serious trouble, if appropriate protections are not put in place right now, and the government doesnt seem to be figuring this one out! its always important to remember, the majority of the workforce is employed by these sme's, so if these measures are not implemented now,......

    again, its impossible to know exactly whats gonna happen, but in the short term, its not looking good, its gonna take a couple of years to resolve the main causations of our inflation issues, i.e. supply chains and energy markets, but our governments and our main institutions seem to be stuck, unable to see the woods from trees, its scary stuff really!



  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78


    funnily enough, this is exactly what needs to happen, we need implement polices similar to pup and ewss, and make sure this newly created money goes directly into the economy, as was the case with those polices.... but it may never happen, so.....



  • Registered Users, Registered Users 2 Posts: 5,321 ✭✭✭jackboy


    Worst case, if you keep your job, no restaurants, pubs, holidays, paid for tv channels, cigarettes, alcohol, soft drinks, take away coffees, junk food, expensive clothes, unnecessary car trips, gyms, etc, etc. The average person spends vast amounts of money on things they can live without.

    It is the very lowly paid and those who will lose their jobs that will suffer.



  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78


    funnily enough, consumption of such actually creates jobs and keeps many businesses open, and many people off the dole!



  • Registered Users, Registered Users 2 Posts: 1,126 ✭✭✭Thespoofer


    Just throwing this out there.

    The last couple of decades we've had booms, busts, 9/11, terror, flooding of Europe with millions of refugees, brexit, covid, possible WW3 etc etc and now this.

    Is there ever a time when things are just gonna be boringly normal? Maybe not.

    Maybe the majority of us will get through 'this' and eventually move on to the next threat to mankind.

    The sun will always rise and set each day regardless ( maybe not in Ireland though 🤔 ).

    Thanks



  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78




  • Registered Users, Registered Users 2 Posts: 5,321 ✭✭✭jackboy


    True but each massive boom has been followed by small busts. There are heavy consequences to that which will happen sometime. Maybe not this time but each time the bust doesn’t match the boom the real bust coming down the line gets bigger.



  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78




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  • Registered Users, Registered Users 2 Posts: 15,242 ✭✭✭✭Danzy


    The last couple of decades were the most peaceful, fairest, most prosperous, most productive I human history.



  • Registered Users, Registered Users 2 Posts: 1,146 ✭✭✭Jonnyc135


    BASF supply a huge amount of admixtures to make concrete. Someone said earlier that cement is due to go up again in July couple these knockone affects of admixture and energy I think the construction sector will hit a wall, a price wall where it is no longer viable to build at these costs because nobody can afford them.

    Tech sector in Ireland ready to implode too and SMEs like Wanderer78 was saying ready to get smacked I think we are on a real slipperslope towards a depression and to cap it all off the incoming food price spiral towards the end of the year will leave people wondering whether it will be Turkey instead of ham or baked beans for xmass dinner.

    I hate sounding depressing and fear mongering but I really think we are in for a tough few years



  • Registered Users, Registered Users 2 Posts: 15,242 ✭✭✭✭Danzy




  • Registered Users, Registered Users 2, Paid Member Posts: 1,452 ✭✭✭Sammy2012


    Worst case taken into account it actually sounds like some of us would be healthier overall in this situation. Speaking as someone who spends money on most of the above apart from the gym (which we gave up when covid arrived and took up running outside instead) I have already started cutting back on some of the above.


    I also totally appreciate that there are many many people who can ill afford to take any more hits. And it could easily be my household that experiences job losses in the coming months. I am aware things could change for anyone of us over night.



  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78


    say wha! with potentially the fastest rate of rising wealth inequality in human history! productive, in what way, in regards the rising value of assets, but in terms of the life of the average person, life hasnt been going too well, with low rates of wage inflation, stagnant for many, and a significant rise in the precariousness of general life, including working conditions. yea, its been amazing!



  • Registered Users, Registered Users 2 Posts: 15,242 ✭✭✭✭Danzy


    ..



  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78


    ...but what about those that are currently struggling to get things over the line, struggling to pay rent and mortgages etc etc, we re not all the same!



  • Registered Users, Registered Users 2 Posts: 20,568 ✭✭✭✭road_high


    Have heard of that anecdotally happening in construction already. Colleague knows some lad working on the sites in Dublin and the next job was pulled due to the cost- deemed unviable to go ahead. 15 or so lads laid off. I’m sure for now they could get work elsewhere. But if that becomes more common we have a problem



  • Registered Users, Registered Users 2, Paid Member Posts: 1,452 ✭✭✭Sammy2012


    Totally appreciate that. Sorry I shouldn't have been so flippant. There are a lot of people out there who can ill afford to take any more hits.


    Have edited my post above to say this.



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  • Registered Users, Registered Users 2 Posts: 32,764 ✭✭✭✭Wanderer78


    no worries, but the problem is, this cohort of people is rapidly rising, 'houston, we have a problem', and the disturbing element of it is, our political system effectively isnt reacting!



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