Skip to main content

The worst crisis since 2008 (44)

Jan 8, 2022 2:58 AM CST The worst crisis since 2008
tomcattyonline today!
tomcattyonline today!tomcattyocean city plymouth, Devon, England UK410 Threads 4 Polls 9,043 Posts
Boris Johnson has been warned that the growing cost of living crisis could leave Brits worse off than the financial crash of 2008.

The 2008/09 recession was one of the worst on record, with hundreds of thousands of businesses closing and an estimated 3.7m people being made redundant as a result.

Rising inflation, tax increases, and soaring energy bills have been cited by experts as the key factors driving up the cost of living in 2022 - with predictions that the average household in the UK will be £1,200 worse off in the coming months.

Paul Johnson, the director of the independent think tank the Institute for Fiscal Studies (IFS), said tax rises, fuel prices, and inflation are creating a potentially devastating environment for households across the country.

Read more: What is behind the cost-of-living ‘crisis’ and what can we do to cope?

He said: "If you are someone on average earnings who is going to be hit by a tax rise as a result of the reduction of the personal allowance, and a tax rise because of national insurance, and an extra potential several hundreds pounds a year from fuel prices, then this could well be worse than the financial crisis.

"There's going to be inflation of six or seven per cent and earnings not going up anywhere near that fast – so put those two things together and I find it hard to think of a March-April period which will have been quite so bad. This is a combination of a big tax rise and falling real earnings. It's not pretty."

When asked if the prime minister agreed with the claim that this year is set to be worse than the 2008/09 recession for Brits, his spokesperson said: “We recognise that people are facing pressures with the cost of living", and pointed to pre-existing support.

And Paul Johnson is not alone in his concerns, with some experts warning that 2022 could be catastrophic and affect "the vast majority of households".

I suspect this is going to be a world wide crisis so tighten your belts
Jan 8, 2022 3:32 AM CST The worst crisis since 2008
It all started the minute, Let's go Brandon, took office... help
Jan 8, 2022 4:03 AM CST The worst crisis since 2008
ChesneyChristonline today!
ChesneyChristonline today!ChesneyChristManchester, Greater Manchester, England UK9,863 Posts
In many ways I'm surprised it's not worse. Humanity is spending a fortune and not going to work. So what is delivering the goods? It is as though half the people were doing worthless jobs anyway.

The productive potential of technology must be enormous. Something is delivering the goods and it isn't the workforce, certainly not the western one. But what does that mean? Some might see it as a utopia but clearly we're emerging into a world where most jobs are charity cases based on messing about. The devil's makework for idle thumbs.
Jan 8, 2022 4:35 AM CST The worst crisis since 2008
ChesneyChristonline today!
ChesneyChristonline today!ChesneyChristManchester, Greater Manchester, England UK9,863 Posts
The baseline is a world where we get more for doing less and this is why we don't collapse when we should. There wasn't a shortage of goods but a shortage of the lazy, the horrible and the stupid. 95% customer and 5% worker seems like the future when machines can do most everything better than you can.
Jan 8, 2022 4:49 AM CST The worst crisis since 2008
ChesneyChristonline today!
ChesneyChristonline today!ChesneyChristManchester, Greater Manchester, England UK9,863 Posts
Either that or Elon Musk's neuralink. The only way for humanity to remain competitive is to become a cyborg. If you can't beat them, join them.
Jan 8, 2022 5:23 AM CST The worst crisis since 2008
blathin
blathinblathinGlasgow, Central, Scotland UK3,907 Posts
tomcatty: Boris Johnson has been warned that the growing cost of living crisis could leave Brits worse off than the financial crash of 2008.

The 2008/09 recession was one of the worst on record, with hundreds of thousands of businesses closing and an estimated 3.7m people being made redundant as a result.

Rising inflation, tax increases, and soaring energy bills have been cited by experts as the key factors driving up the cost of living in 2022 - with predictions that the average household in the UK will be £1,200 worse off in the coming months.

Paul Johnson, the director of the independent think tank the Institute for Fiscal Studies (IFS), said tax rises, fuel prices, and inflation are creating a potentially devastating environment for households across the country.

Read more: What is behind the cost-of-living ‘crisis’ and what can we do to cope?

He said: "If you are someone on average earnings who is going to be hit by a tax rise as a result of the reduction of the personal allowance, and a tax rise because of national insurance, and an extra potential several hundreds pounds a year from fuel prices, then this could well be worse than the financial crisis.

"There's going to be inflation of six or seven per cent and earnings not going up anywhere near that fast – so put those two things together and I find it hard to think of a March-April period which will have been quite so bad. This is a combination of a big tax rise and falling real earnings. It's not pretty."

When asked if the prime minister agreed with the claim that this year is set to be worse than the 2008/09 recession for Brits, his spokesperson said: “We recognise that people are facing pressures with the cost of living", and pointed to pre-existing support.

And Paul Johnson is not alone in his concerns, with some experts warning that 2022 could be catastrophic and affect "the vast majority of households".

I suspect this is going to be a world wide crisis so tighten your belts
I think it's going to be worldwide too and the UK is going to be even harder hit because of brexit and it's self-isolation from the co-op (EU)..
Jan 8, 2022 5:36 AM CST The worst crisis since 2008
ChesneyChristonline today!
ChesneyChristonline today!ChesneyChristManchester, Greater Manchester, England UK9,863 Posts
ChesneyChrist: Either that or Elon Musk's neuralink. The only way for humanity to remain competitive is to become a cyborg. If you can't beat them, join them.
And either that or become a luddite. Smash technology to pieces but I can't see that happening. Not in this world. Maybe if we reach the stars and we have a planet for Asians, a planet for Jews, a planet for cyborgs, a planet for telepaths, and a planet for wearing a chastity belt driving around in an old-fashioned car
Jan 8, 2022 5:46 AM CST The worst crisis since 2008
pat8lanips
pat8lanipspat8lanipsbabinda, Queensland Australia97 Threads 18 Polls 9,097 Posts
I would suggest it's an England thing. You assumed you were propping them up, turns out they were propping you up.
Jan 8, 2022 5:52 AM CST The worst crisis since 2008
blathin
blathinblathinGlasgow, Central, Scotland UK3,907 Posts
pat8lanips: I would suggest it's an England thing. You assumed you were propping them up, turns out they were propping you up.
Whom are you responding to Pat8? dunno
Jan 8, 2022 5:54 AM CST The worst crisis since 2008
pat8lanips
pat8lanipspat8lanipsbabinda, Queensland Australia97 Threads 18 Polls 9,097 Posts
OP... Plenty of countries doing just fine right now.
Jan 8, 2022 6:10 AM CST The worst crisis since 2008
ChesneyChristonline today!
ChesneyChristonline today!ChesneyChristManchester, Greater Manchester, England UK9,863 Posts
pat8lanips: I would suggest it's an England thing. You assumed you were propping them up, turns out they were propping you up.
It's not like that for some of us. Why do some people work for a small business and not a big business? Why do people take the stairs when there's a perfectly good lift? People like to waste time and money for their own independence. It's not greed, it's rage against the machine. If the greedy had sense they'd remain in the EU.
Jan 8, 2022 6:26 AM CST The worst crisis since 2008
Happygolucky4u
Happygolucky4uHappygolucky4uTreasure Coast, Florida USA27 Threads 3 Polls 7,827 Posts
tomcatty: Boris Johnson has been warned that the growing cost of living crisis could leave Brits worse off than the financial crash of 2008.

The 2008/09 recession was one of the worst on record, with hundreds of thousands of businesses closing and an estimated 3.7m people being made redundant as a result.

Rising inflation, tax increases, and soaring energy bills have been cited by experts as the key factors driving up the cost of living in 2022 - with predictions that the average household in the UK will be £1,200 worse off in the coming months.

Paul Johnson, the director of the independent think tank the Institute for Fiscal Studies (IFS), said tax rises, fuel prices, and inflation are creating a potentially devastating environment for households across the country.

Read more: What is behind the cost-of-living ‘crisis’ and what can we do to cope?

He said: "If you are someone on average earnings who is going to be hit by a tax rise as a result of the reduction of the personal allowance, and a tax rise because of national insurance, and an extra potential several hundreds pounds a year from fuel prices, then this could well be worse than the financial crisis.

"There's going to be inflation of six or seven per cent and earnings not going up anywhere near that fast – so put those two things together and I find it hard to think of a March-April period which will have been quite so bad. This is a combination of a big tax rise and falling real earnings. It's not pretty."

When asked if the prime minister agreed with the claim that this year is set to be worse than the 2008/09 recession for Brits, his spokesperson said: “We recognise that people are facing pressures with the cost of living", and pointed to pre-existing support.

And Paul Johnson is not alone in his concerns, with some experts warning that 2022 could be catastrophic and affect "the vast majority of households".

I suspect this is going to be a world wide crisis so tighten your belts
I suspect you are right. It is going to get real ugly. Most likely to what I have not seen in my life time. blues We are going to suffer more than a financial crisis. The last two years has set us up to where we no longer have the values we had at one time. I say the last two years but in truth it has been being put in place for a long time. The divide the hate. The quarentine, keeping us isolated from one another. A lot of components that make us human are being lost. I see it every day. We are losing the humanity aspect of being human rapidly. We are turning into just beings. Can we really blame the governments when so many of us have partcipated in the raping of society. I just continue everyday trying to remain human in a world of so much chaos. sad flower
Jan 8, 2022 6:38 AM CST The worst crisis since 2008
ChesneyChristonline today!
ChesneyChristonline today!ChesneyChristManchester, Greater Manchester, England UK9,863 Posts
And if there is a profit by Brexit then it will indirect and long-term. A lower level of integration will produce a lesser degree of shit for souls. Morally richer for being poorer where we avoid the fate of those down under. Being a c*nt all your life can be avoided.
Jan 8, 2022 6:56 AM CST The worst crisis since 2008
ChesneyChristonline today!
ChesneyChristonline today!ChesneyChristManchester, Greater Manchester, England UK9,863 Posts
I imagine it to be society where we have less but it's yours to do what you want with it. Trying to posit that as an alternative to getting more for less, but it'll all be decided up above. Greed and easy living now come with being told what to think and what to feel, that's plan A for the world.
Jan 8, 2022 6:57 AM CST The worst crisis since 2008
blathin
blathinblathinGlasgow, Central, Scotland UK3,907 Posts
pat8lanips: OP... Plenty of countries doing just fine right now.
ah ok, sorry pat8 I just wasn't sure.

I don't know if you know this already but if you hit the reply button,at the bottom of the post you're replying to, it makes it easier for others to put your comments in context..and know who you're replying to as well. handshake
Jan 8, 2022 7:00 AM CST The worst crisis since 2008
tomcatty: Boris Johnson has been warned that the growing cost of living crisis could leave Brits worse off than the financial crash of 2008.

The 2008/09 recession was one of the worst on record, with hundreds of thousands of businesses closing and an estimated 3.7m people being made redundant as a result.

Rising inflation, tax increases, and soaring energy bills have been cited by experts as the key factors driving up the cost of living in 2022 - with predictions that the average household in the UK will be £1,200 worse off in the coming months.

Paul Johnson, the director of the independent think tank the Institute for Fiscal Studies (IFS), said tax rises, fuel prices, and inflation are creating a potentially devastating environment for households across the country.

Read more: What is behind the cost-of-living ‘crisis’ and what can we do to cope?

He said: "If you are someone on average earnings who is going to be hit by a tax rise as a result of the reduction of the personal allowance, and a tax rise because of national insurance, and an extra potential several hundreds pounds a year from fuel prices, then this could well be worse than the financial crisis.

"There's going to be inflation of six or seven per cent and earnings not going up anywhere near that fast – so put those two things together and I find it hard to think of a March-April period which will have been quite so bad. This is a combination of a big tax rise and falling real earnings. It's not pretty."

When asked if the prime minister agreed with the claim that this year is set to be worse than the 2008/09 recession for Brits, his spokesperson said: “We recognise that people are facing pressures with the cost of living", and pointed to pre-existing support.

And Paul Johnson is not alone in his concerns, with some experts warning that 2022 could be catastrophic and affect "the vast majority of households".

I suspect this is going to be a world wide crisis so tighten your belts
Sadly it will affect many but not borrowing Boris ,the cheap skate.

Jan 8, 2022 7:02 AM CST The worst crisis since 2008
blathin
blathinblathinGlasgow, Central, Scotland UK3,907 Posts
pat8lanips: OP... Plenty of countries doing just fine right now.
Which countries do you mean Pat8?
Jan 8, 2022 7:11 AM CST The worst crisis since 2008
blathin
blathinblathinGlasgow, Central, Scotland UK3,907 Posts
Happygolucky4u: I suspect you are right. It is going to get real ugly. Most likely to what I have not seen in my life time. We are going to suffer more than a financial crisis. The last two years has set us up to where we no longer have the values we had at one time. I say the last two years but in truth it has been being put in place for a long time. The divide the hate. The quarentine, keeping us isolated from one another. A lot of components that make us human are being lost. I see it every day. We are losing the humanity aspect of being human rapidly. We are turning into just beings. Can we really blame the governments when so many of us have partcipated in the raping of society. I just continue everyday trying to remain human in a world of so much chaos.
All very very salient points there Happygolucky.

Ive been thinking much of that too, that we are turning into beings and seem to be losing our humanity, our ability to connect with others and "see" them. I'm hoping all the lockdowns and isolation are going to make people wake up to it and what's important...I think it has hit home with many, but is it enough to effect a change I wonder?
Jan 8, 2022 7:17 AM CST The worst crisis since 2008
tomcatty:

I suspect this is going to be a world wide crisis so tighten your belts
Yes, that is the plan a world crises -engineered project -the great reset -Covid is just one part of it ,planned shortages of food, energetics such as fossil fuels ,electricity and raw materials is the next .Introduction of digital currency as the only means of payment ,...
Jan 8, 2022 7:21 AM CST The worst crisis since 2008
blathin
blathinblathinGlasgow, Central, Scotland UK3,907 Posts
Dedovix: Yes, that is the plan a world crises -engineered project -the great reset -Covid is just one part of it ,planned shortages of food, energetics such as fossil fuels ,electricity and raw materials is the next .Introduction of digital currency as the only means of payment ,...
roll eyes
Post Comment - Post a comment on this Forum Thread
We use cookies to ensure that you have the best experience possible on our website. Read Our Privacy Policy Here