Oh dear.

[Boac]

https://www.airlive.net/alert-heavy-fig ... n-ukraine/

[prospector]

https://www.rt.com/russia/520258-putin- ... aign=Email

At a meeting of the World Economic Forum in January, Putin warned that the coronavirus pandemic was driving countries to borrow beyond their means and driving up inequality. Increasing the debt burden, he said, was an outdated way of stimulating growth. “If 20 or 30 years ago the problem could be solved by means of stimulating macro-economic policy, today these mechanisms have reached their limits,” the president said.

“Over the past 30 years, real incomes of people living in most of the developed countries have stagnated while the cost of education and health services has increased. Millions of people, even in rich countries, no longer see the prospect of boosting their incomes,” Putin added.

[Pontius Navigator]

Not wrong is he? I quoted else where how over a short period of time, 40 years ago, pay rises of 38% that seemed generous in paper represented only 1% in real terms. Even that overstated the increase as all the pay rise did was to catch up from one of more years previous.

[llondel]

Not wrong is he? I quoted else where how over a short period of time, 40 years ago, pay rises of 38% that seemed generous in paper represented only 1% in real terms. Even that overstated the increase as all the pay rise did was to catch up from one of more years previous.

The one thing that a bit of rampant inflation and pay rises achieves for those with a mortgage (assuming you manage to keep paying through the difficult time) is to reduce the burden. If you've got 15% inflation and pay rises for five years before everything (including interest rates) drops down to more sane numbers then the cost of the mortgage goes down by half.

[G-CPTN]

The one thing that a bit of rampant inflation and pay rises achieves for those with a mortgage (assuming you manage to keep paying through the difficult time) is to reduce the burden. If you've got 15% inflation and pay rises for five years before everything (including interest rates) drops down to more sane numbers then the cost of the mortgage goes down by half.

Which was how I benefitted from 1971 onwards.
I soon found that outgoings were well within my budget.

[Pontius Navigator]

Both true but didn't you notice it went up faster than it went down.