JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Jun 15, 2021 15:47:16 GMT
I well remember the late 1960s when the then Labour government thought it could control inflation with price controls. As an employer I thought the opposite and still believe that inflation is caused by pay rises brought on by labour shortages. I believe there is a danger of this happening again now but the politicians and experts don't think so. Most of them are too young to remember the serious problems through the 70s and seem to believe that low inflation rates are normal and will go on for ever.
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Post by Deleted on Jun 15, 2021 17:09:18 GMT
I remember inflation brought about by restrictive practices which meant we had people out of work and people getting paid more and more to do work only "they" can do.
Actors with equity cards Doctors with limited numbers of training opportunities Train drivers with limited numbers of friends who could join
Coal miners who had to come from the village Printers of newspapers
I could go on, luckily some of these (well two) has gone.
Also we were not part of a major trading partner to the east within ferry distance shall we say.
I don't think there will be a major inflationary jump but instead we have houses at prices that a large proportion of the population can't afford. I do see a small inflationary blip coming in some areas.
Not sure which is worse.
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adrianc
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Post by adrianc on Jun 15, 2021 21:06:02 GMT
Most of them are too young to remember the serious problems through the 70s Well, it was damn near half a century ago. The world has changed massively since then. Same distance in time from the end of the war as we are now from the 90s, Britpop, the coming of the internet. I like to make certain types of people feel REALLY old by reminding them I was born post-decimalisation, and I'm 50...
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Jun 16, 2021 7:19:01 GMT
Most of them are too young to remember the serious problems through the 70s Well, it was damn near half a century ago. The world has changed massively since then. Same distance in time from the end of the war as we are now from the 90s, Britpop, the coming of the internet. I like to make certain types of people feel REALLY old by reminding them I was born post-decimalisation, and I'm 50... A lot younger than our kids then...
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adrianc
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Post by adrianc on Jun 16, 2021 7:40:25 GMT
Well, it was damn near half a century ago. The world has changed massively since then. Same distance in time from the end of the war as we are now from the 90s, Britpop, the coming of the internet. I like to make certain types of people feel REALLY old by reminding them I was born post-decimalisation, and I'm 50... A lot younger than our kids then... Your kids must be rapidly approaching retirement, then...
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agent69
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Post by agent69 on Jun 16, 2021 8:27:08 GMT
Most of them are too young to remember the serious problems through the 70s Well, it was damn near half a century ago. The world has changed massively since then. Same distance in time from the end of the war as we are now from the 90s, Britpop, the coming of the internet. I like to make certain types of people feel REALLY old by reminding them I was born post-decimalisation, and I'm 50... You youngsters have missed so much in life.
Never seen England win the world cup, never saw man land on the moon, and never lived in fear of your kitchen exploding after the cooker was switched over to north sea gas.
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jonno
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nil satis nisi optimum
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Post by jonno on Jun 16, 2021 8:50:00 GMT
Well, it was damn near half a century ago. The world has changed massively since then. Same distance in time from the end of the war as we are now from the 90s, Britpop, the coming of the internet. I like to make certain types of people feel REALLY old by reminding them I was born post-decimalisation, and I'm 50... You youngsters have missed so much in life.
Never seen England win the world cup, never saw man land on the moon, and never lived in fear of your kitchen exploding after the cooker was switched over to north sea gas.
Ah yes, those were the days; nostalgia just isn't what it used to be. You missed off seeing Everton win a home match
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registerme
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Post by registerme on Jun 16, 2021 9:05:29 GMT
Never seen England win the world cup, never saw man land on the moon, and never lived in fear of your kitchen exploding after the cooker was switched over to north sea gas. True. But I do remember horse driven rag'n'bone men, and coal being delivered by horse too. In London. The world has changed somewhat.
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jlend
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Post by jlend on Jun 16, 2021 9:38:20 GMT
Never seen England win the world cup, never saw man land on the moon, and never lived in fear of your kitchen exploding after the cooker was switched over to north sea gas. True. But I do remember horse driven rag'n'bone men, and coal being delivered by horse too. In London. The world has changed somewhat. Still have a rag and bone man come round our area infrequently although not since covid. He has a van rather than horse drawn. Still has a hand bell that he rings. I was really surprised to see him when we moved here.
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Post by Deleted on Jun 16, 2021 10:37:39 GMT
Never seen England win the world cup, never saw man land on the moon, and never lived in fear of your kitchen exploding after the cooker was switched over to north sea gas. True. But I do remember horse driven rag'n'bone men, and coal being delivered by horse too. In London. The world has changed somewhat. Still happens in Yorkshire
Until you have seen, power blackouts, inflation at above 15% and interest rates at 6%, sugar shortages and severe limits on how much money you could take out of the country you have not lived.
It makes us older people terrified of inflation coming back.
Luckily, we joined the Common market ;-)
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jonno
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nil satis nisi optimum
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Post by jonno on Jun 16, 2021 10:46:43 GMT
True. But I do remember horse driven rag'n'bone men, and coal being delivered by horse too. In London. The world has changed somewhat. Still happens in Yorkshire
Until you have seen, power blackouts, inflation at above 15% and interest rates at 6%, sugar shortages and severe limits on how much money you could take out of the country you have not lived.
It makes us older people terrified of inflation coming back.
Luckily, we joined the Common market ;-)
The only difference in Yorkshire though, is that folk BUY stuff off the Rag'n' bone man
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Jun 16, 2021 10:52:44 GMT
I've got a neighbour who became a switchboard operator when the local telephone exchange was first built. She lives in Hampshire in the house she was born in, has wood and coal delivered, has never owned a passport, and never ventured north of Stratford-upon-Avon. Her house dates back to a time when the world was flat, and she still thinks it is.
Her uncle bought the house for £223 9s 6d in 1923, now worth c.£1m. That's proper inflation.
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toffeeboy
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Post by toffeeboy on Jun 16, 2021 10:54:35 GMT
You youngsters have missed so much in life.
Never seen England win the world cup, never saw man land on the moon, and never lived in fear of your kitchen exploding after the cooker was switched over to north sea gas.
Ah yes, those were the days; nostalgia just isn't what it used to be. You missed off seeing Everton win a home match Watch it, we are currently on a winning run at home that is nearly a month and guaranteed to reach nearly three months
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Post by Deleted on Jun 16, 2021 11:11:11 GMT
I've got a neighbour who became a switchboard operator when the local telephone exchange was first built. She lives in Hampshire in the house she was born in, has wood and coal delivered, has never owned a passport, and never ventured north of Stratford-upon-Avon. Her house dates back to a time when the world was flat, and she still thinks it is. Her uncle bought the house for £223 9s 6d in 1923, now worth c.£1m. That's proper inflation. That is only 8%
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james100
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Post by james100 on Jun 16, 2021 12:11:51 GMT
I'm just about clinging onto my 1st half century. I vividly remember the interest rate of my 1st student loan (the first year of student loans - 1990) a preferential rate of 9.6%. Inflation rate was about the same IIRC.
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