Posted on 08/25/2022 7:44:34 PM PDT by Roman_War_Criminal
For the first time in nearly 50 years, Great Britain’s inflation rate is expected spike beyond 18 percent, according to a dire new report from Citi.
Benjamin Nabarro, the chief UK economist at Citi, told clients at the start of the week that the bank expects CPI inflation to reach 18.6 percent by January, in part due to soaring electricity and natural gas costs. (Related: The UK’s hyperinflationary track started to really become noticeable last year.)
“Our latest estimate, updated for the further 25 percent and 7 percent rally in UK gas and electricity prices last week, points to a further upside shift in UK inflation,” Nabarro said.
“Accounting for these developments, as well as updating our own weights for CPI / RPI and honing our own accounting for curve backwardation, we now expect CPI inflation to peak at over 18 percent in January. RPI inflation, we think, will peak at over 20 percent.”
The last time things were this apocalyptic was back in 1976 when an “oil supply shock” sent energy prices to the stratosphere amid stagflation conditions. Currently CPI sits at 10.1 percent, which is already the highest rate in four decades.
(Excerpt) Read more at chaos.news ...
The UK has lots of offshore natural gas I believe.
I’m not worried one bit. Our benevolent government will send us “Inflation Allowance Payments” to make us all whole. (yes, I’m joking)
“For the first time in nearly 50 years, Great Britain’s inflation rate is expected spike beyond 18 percent, according to a dire new report from Citi.”
Take that, Putin!!!
“The UK has lots of offshore natural gas I believe.”
I don’t believe Greta will allow that to be developed.
Putin is laughing all the way home to his gorgeous mistress and four little ones.
Living well is the best revenge.
I heard a guy on the radio say he believes Greta is financed by Russia. An interesting theory since they do push ESG along with Saudi Arabia.
I was told it was $5.48.
I left it there.
The global warming scam was hatch in the Soviet Union. That was what the Vostok political research was all about.
We will show Russia. We will destroy the first world of energy, food and commodities to punish them. Great.
It’s very believable.
How DARE you!!
The wrong people are in charge.
Try BRAWNDO !
It has electrolytes
That Plants Crave !
/$
.
IDIOCRACY
“I heard a guy on the radio say he believes Greta is financed by Russia.”
But the BRAINWASHING done by their own governments is incredibly powerful. Think about how Russians, not Russia, not Putin, but ordinary Russians, are now viewed in Europe - as subhuman, very similar to the way Nazis viewed the Jews in the 1930s, so it makes sense that Europeans could be programmed to whatever state the government needs at the time. And you can see that seething hatred towards Russians often on this site.
How about a little Heat Wave, Baltic Scarecrows?
Well look at how Whites are looked upon in Intelligentsia circles and publicly at Universities/Schools.
You’re not wrong - innocent Russians AND non-Russians are getting targeted in America and Canada (https://time.com/6156582/ukraine-anti-russian-hate/).
However, it’s dehumanizing in BOTH directions, and it’s Nazi-like behavior in both directions.
And whenever there’s a particularly egregious example - for example the same individuals making a career out of doing it to random victims AND posting up on social media - of course that provokes a retaliation.
There’s an insightful write-up of the phenomenon here - the author has a Russian mother and Ukrainian father, and she’s had anti-Ukrainian “negging” from her mother’s side of the family all her life. And now she sees the impact of the war from both sides.
https://globalcomment.com/the-russian-leviathan-of-hatred/
Her article starts off by referencing Eugenia Karlsson, a Russian teacher living in Sweden who harrasses Ukrainians: https://youtu.be/RxqVE80fWZ4, https://twitter.com/Lyla_lilas/status/1518980313740980228?s=20&t=3aA4easscd2I0sUVUBfBtQ - now, she says she was getting that from her own Russian side of the family even before the war.
Her account is not unusual. And not confined to Russia/Ukraine either. You hear this a lot from children whose parents get together despite racial/class-based/nationalist bigotry. But I think what that shows is the dishonesty in the victimhood and persecution complex from Russians - if Russian children with a Ukrainian parent were hearing anti-Ukrainian bigotry on a daily basis years before the conflict, then Russia has a problem. Half of it loves Ukraine and wants unity, the other half just thinks of Ukrainians as an untermensch.
My wife’s family is Irish - her dad’s an Orangeman and Free Presbyterian whose family were pally with Ian Paisley, her mom’s a Belfast catholic. It’s different now, but forty years ago they left Northern Ireland chiefly because her dad was sick of the “Croppies keep breeding like rabbits, fenian bastards” bullshit. They’re only now beginning to reconnect and reconcile.
And it’s not just the older generation of Russians that are doing it. Consider this muppet in Austria who actually has turned the harrassment of Ukrainian refugees in the street into a sport. She’s not doing it because she’s angry at them personally, she just revels in their discomfort and thinks they’re subhuman - and makes quite a bit of money out of doing it. https://www.youtube.com/watch?v=TBYqMStZ2-8.
And it’s happening in Ireland as well: https://www.thetimes.co.uk/article/ukrainians-in-ireland-harassed-by-russian-patriots-8g580w3vd
The simple fact is, haters gonna hate in both directions and most of the time the haters are picking on people simply because of their ethnicity or nationality. This isn’t a reflection of wider society; it’s a reflection on two different things:
1. People with deep-seated bigotries and long lasting grudges.
2. Troll scum that you can find anywhere in any society, who just enjoy finding easy targets.
A spike of 18% is not “apocalyptic”. It’s quite bad, particularly if sustained for long, but “apocalyptic” is what they have in Lebanon: 500% inflation, and it seems to be rather sustained...
Not that big a deal. They just were slow to fire up a couple more generating stations.
The overall gas price problem notwithstanding, the insane rate spike was caused by a poor algorithm in the software that manages the “smart” meters. Not totally unlike the price aspect of the situation in Texas, last winter, less the near system crash. Incompetent rate programming. Need to get that fixed. It’d be ironic tho’, I have to admit, if the Lithuanians outsourced the software to a Russian code writer.
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