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Inflation

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  • Registered Users Posts: 19,407 ✭✭✭✭road_high


    The EUs “green agenda” is one of the most self damaging pieces of crap in human civilisation. It’s what happens when you get massively out of touch and obscenely paid bureaucrats in charge of policy



  • Registered Users Posts: 8,184 ✭✭✭riclad


    And of course this energy sanction policy, does not work, eg russia is selling gas and oil to India, and China at a discount , and they are hardly losing money as the price of oil rises. Yes sanctions are effecting Russia in terms of acess to imports of pcs, laptops, chips,and other tech goods and many skilled workers are leaving Russia. Western Company's based in Russia are mostly leaving Ordinary people are paying for the price for this as the price of food, gas, oil go, s up . Yes we could switch over to more solar power and wind energy but this takes years of investment . EU countrys are holding back , they will continue apply sanctions but they do not start up a war with Russia

    This is really bad for the climate change problem, eg more country's are switching to coal for cheap energy which is easier than building wind power networks

    We are not the worst off Turkey now has 80 per cent rate of inflation as the cost of food basic goods rises and the value of thier currency falls



  • Registered Users Posts: 97 ✭✭ZenNature


    This guy has you believing we are winning the economic war with Russia.

    The Italian Prime Minister left the recent G7 talks one day early because there was a crisis cabinet meeting in Rome, Italian inflation like much across the Eurozone is running sky high, near double digits. The next day whilst the G7 wrapped things up, Italy paid the highest borrowing costs on its debt since the eurozone debt crisis in 08.

    And someone here thinks we are winning this economic war, thats surely the winningest hand Ive ever seen (not), your borrowing costs are at crisis levels and this guy things your on the winning team.

    Just how many Chemical Ali moments are we going to get here .



  • Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 60,152 Mod ✭✭✭✭Wibbs


    Yippee. I seem to have picked up a fan... Well spindoctors don't like measured sense. They're afraid that sorta thing spreads and their spin won't stop it.

    The trick to "winning a war" is not losing as much as the enemy. And by not buying into his bullshíte. Inflation: Yep it's running high in the EU alright. "Near double digits" indeed. Mother Russia's inflation rates on the other hand are cleary doing so much better...

    Oh wait, they'e not "near double digits" they are double digits. And unlike Italy, which had issues long before this Russian mess kicked off, Russia's imports have crashed, their access to international funding, leasing, insurance and shipping has hit the floor and their internal stock market has bottomed out and that includes their oil and gas company stocks too.

    Actually after all the BS in threads about putinbots, AKA anyone who doesn't shout Slava Ukraine! in every post, it's nice to find the real deal. 😁

    Rejoice in the awareness of feeling stupid, for that’s how you end up learning new things. If you’re not aware you’re stupid, you probably are.



  • Registered Users Posts: 97 ✭✭ZenNature


    You like that poster, are you a closet Marxist be any chance.

    I guess your the kind of guy who stands at the petrol pump , and watching the dials spin ever faster and thinks to themselves we are winning the economic war. You must have deep pockets.

    Mere mortals like the rest of us think, it doesnt feel like winning.

    For instance is this how your mind works ... Japan has so far agreed to keep its 5billion investment in Putin regimes Sakhalin-2 LNG project , and Japan will work with Russia to share the 100's of billions of revenue that will generate.... but in your mind thats a loss for Russia, is that how far the derangement goes ?



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  • Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 60,152 Mod ✭✭✭✭Wibbs


    Maybe you missed this that isn't covered by your handbook:

    Oh wait, they'e not "near double digits" they are double digits. And unlike Italy, which had issues long before this Russian mess kicked off, Russia's imports have crashed, their access to international funding, leasing, insurance and shipping has hit the floor and their internal stock market has bottomed out and that includes their oil and gas company stocks too.

    This is really basic and obvious stuff we're seeing here. Pretend to be "local" try to ramp up concerns that help your cause, while avoiding the holes in your argument like the plague, because they're deeper holes for your cause. When you get called on said holes you pivot to something else and/or get frustrated and the "I'm one of you guys" mask slips a little.


    Rejoice in the awareness of feeling stupid, for that’s how you end up learning new things. If you’re not aware you’re stupid, you probably are.



  • Registered Users Posts: 1,018 ✭✭✭Jonnyc135


    If Russia cuts off the Gas to Europe we will be in a very very bad place, Germany economy is tanking already, no doubt the Russians will be loosing lots of money too by not exporting to us no denieing that, all in all both parties will loose I just think the EU with their PIG countries like Italy when the going gets tough it may cause un reparelable social divides, especially if a 3rd world food crisis sparks African migration into the EU.



  • Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 60,152 Mod ✭✭✭✭Wibbs


    Well it would be a good time to finally batten down the hatches to African and other migration into the EU. It's not done anybody any good but a few vested interests and the traffickers. Governments EU wide will face a lot of backlash from their voters if they don't, especially if the kitty looks to be running dry.

    The German economy isn't "tanking already" but has been sliding since the covid effect. However it's still predicted to grow by around 2% this year, at least so far and to expand in 2023. Again that's down on last year, but a contraction has been seen since 2019. This was what some commentators were predicting in 2019 and before covid. "Europe in crisis mode, Germany heading for recession". And it didn't come to pass, indeed there are signs of some growth even since putin's folly. Russia is hoping the German economy "tanks"(they also want the EU to fail) and are pushing this notion hard in their spin and it will be hit hard if Russia turns off the gas taps, but I don't see people fighting on the streets for bread just yet.

    Now, nobody is denying things are rocky and uncertain at the moment after two years of covid and now putin doing a landgrab. And yep Germany and others are feeling the pinch from all that and it's not getting any better in the short term and things are down. However if you want to see an economy "tanking" with inflation nearing 20%, imports through the floor, a stock market down 60% in trading volume in June alone, a currency in need of control and cut off from the biggest markets on earth, then look no further than Russia.

    Plus if Russia thinks they're isolated from the biggest economies and markets in the world now, if they bring down that stick they love to wave around their isolation will grow even more and for far longer. It would be the equivalent of them firing a nuclear bomb economically and politically. They can kiss goodbye to any access to those markets in the medium and long term and all that brings with them in investment and other things. And even "greedy money" will think twice after they seized the foreign assets of the same greedy money without thinking(IMHO that was one of their biggest mistakes in all of this). And hoping to pivot to China won't be the panacea they think, because China's biggest markets by far are those self same biggest economies and markets in the world and they don't want to be exposed to a major shock like that. Put it another way; if you work a 9-5 that brings in 80% of your wages and do nixers at the weekend, but those nixers start to affect your 9-5 employer's biz and they find out about that and threaten you with the sack, which job would you drop?

    Rejoice in the awareness of feeling stupid, for that’s how you end up learning new things. If you’re not aware you’re stupid, you probably are.



  • Registered Users Posts: 13,826 ✭✭✭✭Danzy


    If Putin gets encouragement like that he'll go all out to collapse the Western European economy.


    He sees this as the opportunity to crush the West and allow Russia to rise up from the rubble of the global economy.


    He may well be right on that, even his hireling Angela Merkel spoke of his desire and obsession to destroy Western Europe. She still did his bidding,just business.



  • Registered Users Posts: 4,460 ✭✭✭Arthur Daley


    Growth rates being thrown around by politicians and economists to justify this, that and the other need to be seen against the background of destruction of the currency value.

    3% growth percentage is no big achievement when your spending power is dropping 10% a year.



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  • Registered Users Posts: 12,535 ✭✭✭✭Varik


    Don't think Russia will announced what they're doing, they'll shut off for the maintenance and just drag it out.

    It'd probably take longer anyway due to the sanctions but I'd say they'll drag their feet and really let the market freak and prices rise all while the already low stockpile dwindles.



  • Registered Users Posts: 13,826 ✭✭✭✭Danzy


    Exactly, 5% growth rate feels like a recession when it's 10% inflation.



  • Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 60,152 Mod ✭✭✭✭Wibbs


    The Rouble is stronger than it's ever been, yet even with all that spending power at the same time Russia's inflation rate has doubled in a matter of months and the number of products and services they can buy has dropped.

    Rejoice in the awareness of feeling stupid, for that’s how you end up learning new things. If you’re not aware you’re stupid, you probably are.



  • Registered Users Posts: 4,460 ✭✭✭Arthur Daley


    Maybe so, is Russian opinion around the cost of the war changing. I have no idea. Ths average Russian cost of living is probably fairly frugal anyway.



  • Registered Users Posts: 97 ✭✭ZenNature


    Chemical Ali is back with his .. its not so bad everyone , dont worry we the west are winning the economic war .

    European gas storage levels are very low at the moment, and normally the EU relies on filling up this storage in the summer to prepare for winter.

    Russia is about to turn off the main taps, so thats an end to filling up storage for a few weeks, and who knows if Putin will open them again. I expect he will state that maintenance is over-running and let the EU stew for awhile , a bargaining chip, weaponisation, business call it what you want.

    But dont worry, Wibbs is a Marxist at heart , wants everyone to work harder , and we can all go round his house in the winter to stay warm.

    Listen to your leaders and Chemical Ali, I mean Wibbs, its all grand we are winning.





  • Registered Users Posts: 7,037 ✭✭✭timmyntc


    Comical Ali, you mean Comical Ali not Chemical Ali

    Unless Wibbs is hiding something about his past? 🤣



  • Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 60,152 Mod ✭✭✭✭Wibbs


    Beyond the cities I doubt there's been much of a shift Arthur. Like you say many wouldn't be used to our decadent western ways. Where there could be a shift is seeing the coffins of their young men coming back from Ukraine, because like most wars you can be damned sure those in power won't be losing their sons to it. Their bullet stoppers as ever will be mostly working class kids with no connections(that was a major thing that scuppered the Yanks in Vietnam, and since). Now cultural narratives built up over geerations and putin heavily pushing the Russian sacrifice in war fighting nazis stuff will hold the line for a while, but there's usually a turning point. Then again when you see Russians living in the West with access to all the "sides" they want still backing Mother Russia I can't see that much of a shift going on in Russia where that access and the narrative is a lot more controlled. One area where sanctions won't work and never have is in this. It feeds putin's spin of the "West hates us and always has. Look!". Where they will work is with the movers and shakers, the money, because that hits them. Their foreign assets seized, their access to foreign investment etc massively curtailed. Now putin might want a return to the old days with him at the helm, but I'd bet a fair number of the others won't.

    Rejoice in the awareness of feeling stupid, for that’s how you end up learning new things. If you’re not aware you’re stupid, you probably are.



  • Registered Users Posts: 414 ✭✭dorothylives


    I'm not really interested in a discussion on Putin. I despise the man and what he's doing/has done in Ukraine. But if you think that people struggling in Europe and having to make choices between eating, keeping the lights on or heating their homes, let alone watching their elderly parents make those same choices, are going to put Ukraine first then you're mistaken. This winter is going to be extremely tough on many people.

    This s hit with inflation kicked off long before Putin and Ukraine and many of the people shouting Slava Ukraine couldn't find Ukraine on a map. Putin is a handy scapegoat for every f uck up governments have made over the past couple of years, he's the new Covid. Before it was 'don't blame us, blame Covid', now the go to excuse is 'don't blame us, blame Putin'.

    Ukraine is the second most corrupt country in the world, second only to Russia and this crap with Ukraine and Russia has been going on for a long time with no global interest in it. Ukraine's fascist history has been whitewashed and it's fascist president gets a free pass for banning the speaking of Russian in Ukraine. For banning Russian literature being sold in Ukraine. For imprisoning opposition parties in Ukraine. I'll be honest with you, I think Zelensky is a jumped up narcissistic c u n t. I'm no fan of Russia, but Putin being a bad man doesn't make Zelensky a good one.

    Frankly, I've no problem whatsoever leaving them to fight each other and whoever wins wins. That's my 2 cents worth. I've no doubt I'll get a lot of flack for it but I don't care. What I do care about is the welfare and well being of my own family. I'm sick to the back teeth of seeing Zelensky demand more and more everyday, yesterday it was demands for 600 billion to rebuild Ukraine. F uck him, I will be irate if the second most corrupt country in the world is given that kind of money. We've our own to look after.



  • Registered Users Posts: 97 ✭✭ZenNature


    nah I mean Chemical Ali . although comical works too

    Ali Hassan Abd al-Majid al-Tikriti nicknamed Chemical Ali -

    Maybe you young uns dont know the reference, during the Iraq war Saddams defence minister was famous for making statements about how Iraq was winning the war. His most famous was a press conference where US tanks were rolling thru in the background and he was saying a glorious victory was in sight.

    Hence you can appreciate how the moniker fits Wibbs here, with all his talk in a thread on INFLATION of how the west is winning the economic battle with Russia.

    We have our very own comical Chemical Ali.



  • Registered Users Posts: 8 euphreve


    If Ukraine doesn't get sufficient funds to rebuild, their economy will remain in ruins and there will be an enormous exodus to the EU, putting even more strain on housing, infrastructure and social services.


    It will be cheaper to rebuild Ukraine than to not rebuild it.



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  • Registered Users Posts: 97 ✭✭ZenNature


    Ukraine was the most corrupt country in Europe (after Russia, yep folks Russia is very corrupt, but be careful some say Im a putin bot) , so remember this each time a Ukrainian politician speaks, remember he represents the government most corrupt in Europe according to those who chart this stuff.

    Ukraine had the lowest GDP per person , around 4,000 euro per person, Ireland is closer to 90k.

    Estimates are that every year Ukrainian citizens spent 400 million on bribes to get even the most basic services. Thats alot when the GDP per person is 4k , thats how corruption in government screws over their citizens

    One should ask one self the question how could the Ukraine have this level of poverty despite Ukraine being so rich in resources that the whole world seems dependant on . Where did the money go.

    Anyways I vote we give the most corrupt nation in Europe circa a trillion dollars to rebuild their nation, what could possibly go wrong with that plan.



  • Registered Users Posts: 5,574 ✭✭✭brickster69


    “The earth is littered with the ruins of empires that believed they were eternal.”

    - Camille Paglia



  • Registered Users Posts: 7,037 ✭✭✭timmyntc


    Thats Comical Ali - Iraqi Minister for (false) information who said those things and earned that moniker.

    Chemical Ali was a totally different person



  • Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 60,152 Mod ✭✭✭✭Wibbs


    Oh Ukraine is as corrupt as fúck. No disagreement there, though it's not "the second most corrupt in the world"(neither is Russia the most corrupt). And yep I also think Zelensky is as dodgy as a ten euro Rolex bought on a Spanish beach. However he did not ban the speaking of Russian in Ukraine. He's a Russian speaker himself. The Ukrainian first language stuff is like if gaelgoirs got power here and went mad(der). All the civil servants have to speak Ukrainian in their jobs(we had that here with Irish until the 60's) and they're certainly putting pressure on the Russian language that's for sure, which I personally think was a completely retarded move. Far Right parties in Ukraine have lost support year upon year in elections and couldn't even return one seat in the last one. So it's a lot less "fascist" than it was and ironically when Russia's puppets were in power. Funny they didn't invade then.... But yes Ukraine has a loooong way to go to be welcomed into Europe.

    The thing is if Ukraine wants help and cash after this is over and it will be over, they have to change, or they simply won't get the help and they won't get the cash. The beady eye is on them and no mistake. Even with all the fanfare about the EU, they're a long road away from getting in and they have to walk that road or they won't get in. Very early on in this thread I reckoned that this shítshow could well be the best thing that's ever happened to Ukraine and more, to Ukrainians and like the Marshall plan made a fortune for the US, there's money to be made for the EU rebuilding Ukraine too.

    Rejoice in the awareness of feeling stupid, for that’s how you end up learning new things. If you’re not aware you’re stupid, you probably are.



  • Registered Users Posts: 97 ✭✭ZenNature


    Your right. Comical Ali was Saddams minister of information

    Could a mod correct my posts, I did Wibbs a dis-service he isnt Chemical Ali he is Comical Ali .

    Another 500 million sent to Putin today, to fund his forces locking down Luhansk and Donetsk for the winter, another day we can put in the WIN column for The West , inflation be dammed , Russia is shutting the gas pipes next week , get out the victory bunting we have them where we want them.

    Now wheres my cup of instant coffee, that shop takeaway stuff is a rip off.



  • Registered Users Posts: 5,574 ✭✭✭brickster69


    Medvedev has announced counter sanctions against Japan. Might of been best for the Japanese to announce it after it was implemented by everyone.


    “The earth is littered with the ruins of empires that believed they were eternal.”

    - Camille Paglia



  • Registered Users Posts: 414 ✭✭dorothylives


    Let them rebuild their own country. Do you really think such a corrupt country will spend the money where it should be spent? I don't. The vast majority of Ukraine is safe, let them go back and fix their own problems. Historically it's what every other country in the world had to do after wars. There should be no question of anymore of them coming here. Too many of them are arriving here, getting their social welfare money and a roof over their heads and popping back to Ukraine for short breaks. Does that sound like a war zone to you because it doesn't to me.

    I'd love to jet off somewhere but I won't be because it's going to cost me over 1000 euro just to fill my oil tank. The Ukrainians here won't be worrying about that though. They'll be nice and toastie while Paddy and Mary suck up the bill for them. Take a look around you, the support is evaporating on a daily basis. Paddy and Mary only take so much before they can't ignore what they see with their own eyes on a daily basis.

    A large family of them pass my house on a daily basis, a few men with them are definitely of the 18-65 age. Why the f uck are my taxes paying for them to be here? The cheapest house to rent in my estate is 1500 a month, they're paying nothing while many young people can't even afford to rent a room in the town on the rare occasions that there are rooms available to rent. These people are not our responsibility they are a burden we can't afford.



  • Registered Users Posts: 414 ✭✭dorothylives


    I'm genuinely surprised to hear that Russian language speaking and Russian literature are not banned. I'm pretty sure it was on Euro news the other day that I saw the report, but I could be wrong. I'd no clue about it up until that point. I stand corrected.



  • Registered Users Posts: 5,574 ✭✭✭brickster69


    Escalated quickly. Probably the UK will need to stop exports for a while if it happens


    “The earth is littered with the ruins of empires that believed they were eternal.”

    - Camille Paglia



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  • Registered Users Posts: 1,620 ✭✭✭thinkabouit


    Maybe they want half the people to starve, freeze, go bankrupt.

    There policy's certainly seem to indicate it.

    Even Joe bloggs posting on here can see the absolute madness that's coming or going on and these well paid public servant's can't?



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