RE: Know when to hold em23 Jun 2022 09:29
convb when you say deep recession, why do you say that ?
Lowest unemployent , housing shortage and car shortage never happen in low times.
Yes on paper we will be in recession, but it's going to be a very different one, and imo a short one esp if the war ends.
But the rich are richer, airports are packed, restaurants are full (the nice ones) people are spending.
So the news show 5% people in trouble thats a small % and those sorts of people did not buy houses, cars and eat out posh. May as well call it the single mum recession, I doubt any one here is going to worry about £100 in petrol or a £200 a month gas bill. Yes you notice it, but so what, you suck it up and eat out once a week less.
The issue is people are asking for big payrises who are left wing, if you give people a big pay rise in high inflation, they go and spend it and cause higher inflation !!
People had it too easy and are now greedy on cheap money, BOE should have put interest rates to 2% already imo. and cap pay rises at 4%. give people a 8% pay rise the county goes into bigger ****. Will they hand it back when inflation is 4% in 18 months. Better off with one of payments vs a pay rise. FTSE could see 6700 I guess be a bleek 6 months esp if the war keeps going. But A deep recession I doubt.