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Cost of living.

gleneagles
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Cost of living.

Once this virus is brought under control and vaccines are available to all what affect will this have on the average person regarding the cost of living, will prices of most essential things go up or go down.?
Whilst it might appear they will go up, if millions of people cannot afford to buy them the trend might be downward.

Equally many may be forced to take lower paid work or work they would have not considered doing in the past, if some reports are correct some have applied for jobs picking fruit or vegetables alongside migrant workers.....nothing wrong with that of course but many would consider the hard graft for such low wages was not worth it.

Any opinions ?

We are born into history and history is born into us.
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shutter
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Re: Cost of living.

Some things come to mind.... Many people will be out of work...through no fault of their own... will probably have to "sign on" for benefits.

Many small businesses, such as small cafe`s owner run and staffed, will struggle to regain their trade... have to "probably" pay back the government "loan" that tided them over .. so won`t employ so many staff.

Local government will be similarly hit... finding that they do not have the budget they had before,  so will lay off staff, and/or increase local taxes, such as council tax, and business rates, planning fees etc.

UK government will be in a very serious financial predicament, regarding all the billions of pounds they have had to pay out for the NHS and  other guarantee schemes for businesses, etc.. and this WILL mean increases in INCOME TAX and other taxes such as baccy and petrol/diesel all other fuel taxes...

inevitably fuel tax increases will increase transport costs, therefore the food distribution costs will increase, leading to increase food prices at the counter.

 

 

I read somewhere that Germany is suing China for reparations of ( I think it was $200 million)  for the cost of the CORVID-19  to Germany`s Economy...

 

nozzer
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Re: Cost of living.

@shutter 

I think you have answered your own questions. In other words, a very very big recession. 😒

shutter
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Re: Cost of living.

@nozzer   I don`t recall any "questions" in my post....   ! ! ... but your interpretation may well be true.

 

and the general consensus, from what i have read on various news sites, is that it has been instigated as a world wide scheme,  by China, to become the dominant economic powerhouse, replacing the USA.

nozzer
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Re: Cost of living.

 

and the general consensus, from what i have read on various news sites, is that it has been instigated as a world wide scheme,  by China, to become the dominant economic powerhouse, replacing the USA.


 

@shutter 

Not heard or read that one. Sounds like another conspiracy theory to me. There are loads about. Viruses do nothing except mutate, some very regularly. They take advantage of situations such as close proximity of animals and humans and mutations sometimes cause them to jump between species. That's what happened in this case. Viruses don't know much about country borders or political ambitions. The genetics of this virus are 88% similar to the same disease in bats, and 94% similar to the same disease in pangolins, and both of those animals are in close contact with people in wet food markets in China.

shutter
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Re: Cost of living.

@nozzer  So.... nothing to do with the research facility handling the virus and mutations in WUHAN CHINA , then ? ? ? ? 

Just a "biological" accident because the chinese people eat weird food...

 

and naff all to do with the 42 people who succombed to the virus , sparking the pandemic, that it is now...

 

nozzer
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Re: Cost of living.

@shutter 

I have no idea. I don't subscribe to conspiracy theories. They destroy logic.

twocvbloke
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Re: Cost of living.

The trouble with conspiracy theories is that they're often thought up by people who aren't all that smart, and in their heads, 2+2=48632.4...

idonno
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Re: Cost of living.


@gleneagles wrote: Equally many may be forced to take lower paid work or work they would have not considered doing in the past, if some reports are correct some have applied for jobs picking fruit or vegetables alongside migrant workers.....nothing wrong with that of course but many would consider the hard graft for such low wages was not worth it.

Any opinions ?


Currently, TBH I'm doing very well, even though I've been furloughed. Think about it. 80% pay with no transportation costs, no 'unnecessary' trips to the shops etc. BUT, that is now. Somehow I shall be surprised if I still have a job to go back to when they eventually decide this current scheme will end.

 

Reason? Less money = less spending= less manufacturing= not so many employees required. Maybe come next year, things might pick up but I can't see it happening within a month or so. Funny enough the wife was actually looking at farm jobs the other day. The wife is currently unemployed - no one hiring in her line of expertise. And if you have no money, no honey. Best to work for a reduced income than no income at all. It's what I did when I returned to the UK. Job for 3 months, simply driving a van about delivering stuff to people. Peanut money but any income is an income.

 

Prices tend to be dictated by supply and demand. If people haven't got much money, prices eventually tend to gravitate downwards. Not much point making stuff if no one can afford it. Indeed, as governments globally keep on making noises - this situation will be with us for quite some time. 

Ever helpful. Grin Sure, I’d love to help you out. Now which way did you come in?
gleneagles
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Re: Cost of living.

@nozzer 

I understand that China has made bids for firms in other countries, nothing wrong with that it’s just business but I would argue such bids should be blocked under the present circumstances as business in many countries are now more vulnerable to take overs and as I see it China are taking advantage of a situation caused by them.

What I would be interested in knowing is how many party officials holding senior positions were effected by the virus ?

Equally if it was released by accident from a laboratory we will never know, think about it they could never admit to that as they would be liable for the cost and no country would ever do business with them.

No doubt tax will increase on just about everything, many shops and businesses will never reopen and those that do will make far less profit than before, indeed some might work at a loss hoping for better times.

Forget HS2, Road repairs, northern power house and all the rest, that’s history, or history in my lifetime.

Many young people, some with degrees will be glad to get any job and no doubt some companies will take advantage of that.

Pension payouts, already poor will take another big hit.

Perhaps the biggest issue might be social unrest, almost unknown in this country in recent times but resentment against those who flaunt their wealth or take advantage of others less well off might just happen.

We are born into history and history is born into us.
nozzer
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Re: Cost of living.

@gleneagles 

Sorry, I left you off my original reply. 

The main problem is that recessions are downward spirals for a while, where consumer demand drops significantly, leading to job losses, which leads to lower consumer demand etcetcetc..  Most very deep recessions take a long time to be corrected. The 1929 one didn't really start to pull up before WW2, and that in itself did enough economic damage. The overall effect of both meant economic doldrums until the late 70s.

On the positive side..  lower carbon emissions, maybe much better healthcare spending (if Boris' recent experience makes him grateful), a certain President being ejected. 

 

Edit: Our posts crossed!

7up
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Re: Cost of living.


@nozzer wrote:

@shutter 

I think you have answered your own questions. In other words, a very very big recession. 😒


It was @gleneagles asking the questions. @shutter simply replied with his thoughts.

I need a new signature... i'm bored of the old one!
wotsup
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Re: Cost of living.


@shutter wrote:

I read somewhere that Germany is suing China for reparations of ( I think it was $200 million)  for the cost of the CORVID-19  to Germany`s Economy...


Hardly comparable to the trillions of damage Germany caused,  not to mention the huge loss of life... ( don't mention ze vaw )

nozzer
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Re: Cost of living.


@7up wrote:

@nozzer wrote:

@shutter 

I think you have answered your own questions. In other words, a very very big recession. 😒


It was @gleneagles asking the questions. @shutter simply replied with his thoughts.


@7up 

Yes I know. I've already apologized to @gleneagles  for leaving him off the reply. See post 11.