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UK food price inflation hit 16.2% in October – cost of food basics surging

bbc.co.uk

251–260 of 364 posts

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#251

Earlier quoted context omitted.

> Obviously to exploit anti-union sentiments for political gain. and how effective has this been? if the UK government doesn't permit it: it doesn't happen, end of story. > It would be followed by Ireland and the end of the union. I have news for you, Ireland left in 1921 (if England does end up being independent again its citizens would be significantly better off as the subsidy to the other parts of the UK are quit…

> if England does end up being independent again its citizens would be significantly better off as the subsidy to the other parts of the UK are quite considerable Great. I hope so, I have no idea. But it won't be the UK anymore. Very different place in the world and very different internal politics. Maybe it will become like a mini-US but without the natural resources and economical clout.. doesn't seem promising.

> Very different place in the world and very different internal politics.

it'll be exactly the same an England is essentially the UK (which is the SNP's problem with it)

this is explained in one very simple chart: https://qph.cf2.quoracdn.net/main-qimg-96b10105bd7d45574f1b5...

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#252

Earlier quoted context omitted.

You do realize the US is a MAJOR outlier, right?

It’s only an outlier because it so handily dominates equities trading. Using the Paris exchange overtaking the London exchange as a barometer for broader overtaking of the finance industry is akin to saying that a person is taking over the F1 title from someone after beating them in a bike race around their house.

it's only one of the London exchanges too!

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#253

The UK is declining, and people are starting to notice it. People are blaming the government, and clamouring for more support and money, but unfortunately I suspect it’s not that simple. The elephant in the room, in my opinion, is that we simply don’t have the money to maintain the standard of living we once enjoyed. Almost all political conversations here are contingent on this fact, but this underlying problem is r…

Things are going pretty well in other parts of the western world so I dunno if the UK's government should be absolved of their agency so quickly.

From my POV seems like the UK's government is tanking the country by pursuing an idiological agenda that obviously isn't working, and is obviously lowering the standard of living in the country, and yet despite all evidence they continue to double down.

The sad thing we're seeing with Labour is that they're doing the classic thing that happens when parties stay in the wilderness of opposition too long, they start to doubt themselves and instead align with what the government of the day is doing.

Labour under their new leadership is clearly now hoping that if they're timid enough and don't rock the boat at all when the Conservatives inevitably implode they'll be thrust into power because they're sitting there as the next default alternative.

It's sadly terribly uninspiring.

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#254
post #247

Earlier quoted context omitted.

Sure, and people have been saying this for quite literally 1000 years. The country has been geographically "unbalanced" for most of its history, and if you understand preferential attachment, you'll see why. There's been nothing one can do to "rebalance the UK" for several hundred years at least. 20% of the population lives in london, and it often has ~1/3 of the people in the country in the area -- as tourists, trav…

The UK has only existed for about 300 years, so "millenium" is an exaggeration.

I recall reading similar complaints written, iirc, c. 1150-1200.

A street that I lived on was considered to have been around 1000 years a 1000 years ago.

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#255

Earlier quoted context omitted.

> It’s not clear to me _why_ this has happened I always assumed it was a combination of WW II, collapse of the Empire and then a series of terrible governments since the 1960s.

Single common thread has to be poor governance. Certainly in politics and the civil service and also, from what I hear, amongst business leaders. They are mostly selected from a very small pool, ie public schools via the class system, so it makes intuitive sense that those chosen would on average be less talented / capable (and even motivated) than other countries. Certainly many of those I know who went to private s…

>Single common thread has to be poor governance.

I think a structural issue is aging demographics. Lots of welfare policies were enacted when the ratio of workers to non workers was much higher. For decades now, this ratio has been getting smaller and smaller, hence the constant political dilemma of which benefits to cut and how much and for who.

The UK seems like it will especially struggle with delivering universal healthcare promises, as well as pension benefits. Not only are fault lines along rich and poor, but they will be more and more along old and young.

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#256
post #73

Earlier quoted context omitted.

No you're right, the UK is done. Little to no industry left, they were a nation of bankers and multinationals that exploited their former colonies. But it's not because of Brexit, COVID or Russia. It's because they never adapted and the rich in their country cared more about maintaining status than improving the country. Look at France and Germany: industry, tech, lots of "producing" businesses thrive. Paris has even…

Germany is incredibly backward compared to the UK - they're still using faxes and cash for a start.

Germany’s economy is diverse, and their political system is robust. These two things are not unrelated.

They are a bit bureaucratic for sure.

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#257
post #30

I left the UK for the US in 2019. My I-485 was approved this week. I haven't been able to travel back to the UK since 2019 first because of Covid and then because of the pending I-485 petition. I'll be going back for the first time once my card is delivered. Reading about what has been happening over the past years in the UK while sitting in the US is really strange. Sometimes it feels like reading about a cartoonish…

Can you tell me about your experience with I-485 adjustment? What visa did you adjust from? Did you decide not to apply for advanced parole? About to go through the process, any tips would be greatly appreciated.

I initially entered the US on an L1 visa. Somewhere along the way I met my wife and we got married, so my I-485 was a family-based petition. I used the same lawyer (privately) that my company used for the L1 petition to file I-485, I-130, I-765 and I-131 concurrently.

I-765 was approved for me after 32 days, the day after I went to give my biometrics. This was important for me because the new legal team at my company were dropping the ball quite a lot with my L1 extension at the time (it was later approved with 1 day to spare...)

Although I got the I-765 card, the I-131 petition has not even been looked at yet, so although I applied for Advanced Parole, in practice the petition will just be cancelled/voided because the green card will have been issued before the I-131 has a chance to be adjudicated.

This seems to be in line with a recent change in USCIS policy to prefer producing individual I-765 and I-131 cards vs. the previous preference to issue combo cards (which took longer).

The I-485 and I-130 petitions were approved on the same day after 154 days of processing time, and surprisingly my wife and I were not called for an interview.

Hope this helps!

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#258

Earlier quoted context omitted.

>Populist nationalism is rising throughout the western world. It’s a reaction to the failings of globalist liberalism, not the cause of those problems. Was there any alternative to 6B people in the developing world offering to sell their labor and environment for less than the 1B people in the developed world? Arbitrage opportunities cannot go on forever without being outcompeted.

> Was there any alternative to 6B people in the developing world offering to sell their labor and environment for less than the 1B people in the developed world? Arbitrage opportunities cannot go on forever without being outcompeted The alternative is to make sure that you provide a mechanism to bring the best and brightest to your country instead of coddling the least productive at home. It’s not popular politically…

I agree, I wish the government would handout green cards with Masters and PhDs in the US. That was the developed world’s arbitrage opportunity, and they let it slowly slip away.

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#259
post #177

Earlier quoted context omitted.

This generic explanation for everything always gets posted to HN whenever the UK comes up in any capacity, but it isn't "fact based economics". Inflation is surging throughout Europe and the world. Trading Economics has a useful map that visualizes it: https://tradingeconomics.com/country-list/inflation-rate Inflation is high because governments printed enormous sums of money to fund lockdowns and furloughs. Helicopt…

Is the OBR's own analysis of Brexit evidence enough for you? Even Jeremy Hunt has conceded Brexit is causing problems! https://www.politico.eu/article/brexit-had-significant-adver...

Jeremy Hunt campaigned for Remain and then pushed for a second referendum when his side lost, so it's unclear why you think his anti-Brexit stance is worth remarking on. Are you thinking of someone else, perhaps?

Re: OBR. We're talking about food price inflation. The article you cite in turn cites the OBR, but (a) contrary to what you're suggesting the OBR doesn't have seem to have done any of its own analysis and (b) it only mentions Brexit twice, once about immigration and the other is a single paragraph which isn't about food price inflation. It says:

"Our trade forecast reflects our assumption that Brexit will result in the UK’s trade intensity being 15 per cent lower in the long run than if the UK had remained in the EU"

They don't define what "long run" means and they don't state where this assumption came from. That's the quality of the OBR's in-house analysis: there isn't any. That's not a huge surprise. The civil service has a poor track record of economic forecasting in all respects, but especially on anything to do with Brexit. The government forecast before the vote that voting to leave (not leaving, just voting to leave) would trigger an immediate recession in which between 500,000 and 800,000 jobs would be lost, due to "uncertainty". In fact the economy grew and unemployment fell.

They do then mention the "latest evidence suggests a significant adverse impact on UK trade", and cite two other papers. Both are only about claimed changes in UK/EU trade, not UK trade as a whole. The first ESRI paper relies on such complicated modelling it's not worth spending time on and their abstract asserts a dubious assumption right up front. The LSE paper states:

"Second, the implementation of the TCA triggered a small and only temporary decline in relative UK exports to the EU in 2021. These sharply fell in January, immediately following the introduction of the TCA, but quickly recovered within half a year"

It does say that the UK reduced imports from the EU significantly, but this would be expected given the currency value decline and that the EU external tariffs no longer discourage UK companies from importing from outside of Europe. The UK trade balance hasn't had a sudden improvement so it just means imports are now more balanced w.r.t. ROW.

Re: UK food price inflation hit 16.2% in October – cost of food basics surging

#260
post #172

Earlier quoted context omitted.

Brexit is annoying for consumers (try buying stuff from Germany as easily now) and actively lethal for some businesses. I'm feeling the sovereignty already

More annoying than that. Try hiring software engineers. When I started working in London 15 years ago my colleagues were from a mixture of counties across the EU, easily greater than 50%. Now it's rare to see a CV from outside the UK except for a perhaps people from India.

What's wrong with that?
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