Tough Times Ahead

[BlasterBates]

Time to go on holiday, and recharge the batteries to face:

...the hardest times since the 1930s - Telegraph

[PAH]

If there is one positive to have emerged from the horror story of News Corp, it is that at least the nation has been able temporarily to forget its economic woes.

Yep. I was wondering why the news was dominated with corrupt journalists, politicians, and coppers. Hardly new news is it.

Looking at that photo of the quid coins made me wonder if we're close to the value of the metal in the coin being over a quid!?

As a hedge against my bank going bust and taking my warchest with it I'm thinking of drawing out my dosh in quid coins and getting a proper wooden chest. A tonne of coins should be harder to nick than a suitcase full of notes. Maybe the metal value is also a hedge against sterling deflation!

So many ideas but with so little idea.

[PinkPoshRat]

As a hedge against my bank going bust and taking my warchest with it I'm thinking of drawing out my dosh in quid coins and getting a proper wooden chest. A tonne of coins should be harder to nick than a suitcase full of notes. Maybe the metal value is also a hedge against sterling deflation!

So many ideas but with so little idea.

[PAH]

Are you saying coppers are now worth more than 1 or 2p!?

I've only recently emptied my savings jar and deposited it at the bank. Took me ages to bag it all up.

If I go back and ask to withdraw it again the cashierette will definately know I only did it in the first place to wind her up. Though maybe she likes 'bad boys'.

[sasguru]

Time to go on holiday, and recharge the batteries to face:

...the hardest times since the 1930s - Telegraph

From that article:

"The effect of inflation is to erode the real value of the debt. At the current rate of attrition, UK debt relative to GDP would shrink by 50pc in less than ten years. "

Thank God we're out of the Euro.

Now sing after me ..."...This is the self-preservation societeeee, This is the self-preservation societeeee "

[PAH]

So the interest on the debt isn't linked to inflation?

If not, then it all makes sense. Even to me. Sort of.

[MrMark]

Hmmm. This must be why I've had more phone calls this afternoon than in the last 2 weeks

[OwlHoot]

So the interest on the debt isn't linked to inflation?

If not, then it all makes sense. Even to me. Sort of.

But there are still an awful lot of index-linked pensions on the go, for retired former public service workers.

[BlasterBates]

and indexed linked gilts.

If inflation took off so would the pension commitments and the interest on index linked gilts, but not necessarily the tax receipts.


BOOM

[DimPrawn]

Tough times indeed.

Basic pay up 7% and £14,000,000,000 of bonuses.

City bonuses remain steady but basic pay jumps 7pc - Telegraph