Perhaps your 1% pay rise didn’t look terribly bad when inflation was below 2%, especially as you’re still paying comically small interest payments on your mortgage, eh?
Well fucking pay attention.
The BoE’s nerves to be tested? My fucking nerves are being tested, you cunts. This year, in real terms, I’ll earn less than last year, and pay more tax. In the meantime, my company, while doing relatively well, is still forced to make savings, which means thin-slicing of benefits, rising targets, increasing workloads.
That’s three ways I’m getting fucked in 2010. I’m far from alone – you’re probably in the same boat. Potentially worse if you’re on a tracker mortgage.
The Speccie has more:
As Mark Bathgate and Fraser warned, the economic crisis now has an added dimension: inflation. The government’s preferred marker, the Consumer Prices Index (CPI) rose to 2.9 percent in December from 1.9 percent in November, which as Andrew Neil notes is the biggest monthly rise in the annual index since records began. And the Retail Prices Index (RPI), used to calculate welfare payments and wage re-negotiations, rose to 2.4 percent from 0.3 percent. The underlying RPI rate rose to 3.8 percent from 2.7 percent.
The VAT hike has stimulated inflation but there is more at work. We are now seeing the long-term effects of Quantitative Easing and the use of debt to finance further government borrowing. A consequence of printing money is to devalue it – hence the collapse in Sterling and ever more expensive imports, notably crude oil, a commodity which itself has doubled in price over 12 months. With no current plans to arrest government spending, the future looks miserable.
You know, between this and the unwarranted cuntogram I’ve just had from HMRC, I’m considering dropping out of the whole fucking rat race.
I fucking hate what these cunts have done to my country and the difficulty of simply ‘being’ in this country is wearing me down.
And if you’re thinking, “well it’s better than Haiti”, I’d invite you to go fuck yourself in the eye-socket with a rusty fork.
UPDATE: As ever, the excellent Wat Tyler provides sober, and indeed sobering, analysis.
RPI inflation has increased by the biggest monthly amount since 1979 – ie back amid the wreckage left by the last Labour government.
Here we go again
We’re right back to the inflation tax: anyone with a bank or building society savings account, and anyone with a private pension is going to get seriously whacked.
Care? As we’ve blogged many times (eg here) socialists hate savers. Savers constitute the rentier class living off the backs of the workers. They deserve whatever they get, right up to and including being stood up against the wall and shot.
Of course, the Bank of England – the guys who’ve actually implemented this madness – they’re supposed not to be socialists. In fact, if memory serves, there was once some vague idea that they’d be independent of government.