This is in relation to the UK. We knew it was coming, and this is just the start.
https://www.bbc.co.uk/news/live/uk-62633742
"Ofgem announced this morning that the average household energy bill will hit £3,549 from October - a rise of 80% on the current energy price cap."
The average house will face a monthly bill of £296, with the government giving a £66 subsidy off that, so £236 a month.
The stories of hardship remind me of when the Icelandic volcano erupted in 2010, when lots of people were stranded abroad. What surprised many was how many of those people, including apparently wealthy people, had no spare money to cope. They had maxed their credit/borrowing to go on holiday and when they needed extra, they had none. It showed how many people live to the limit, max their spending and cannot cope with any kind of financial shock.
The same is happening now with the huge rise in fuel bills. Even some apparently rich people are going to struggle, especially since other costs, such as mortgages are rising, as they have little leeway to cope, as they have maxed their spending already. Of course, many of them can sacrifice that holiday they could only just afford anyway.
I will cope, by not saving as much as I do, and not going to as many gigs as I normally do and fewer takeaways. But that has consequences on the loss of income faced by musicians and takeaway owners/workers.
I think, like in 2010, we will see who makes sure they have spare capacity to cope and who does not and it will not just be those on low incomes and benefits.
https://www.bbc.co.uk/news/live/uk-62633742
"Ofgem announced this morning that the average household energy bill will hit £3,549 from October - a rise of 80% on the current energy price cap."
The average house will face a monthly bill of £296, with the government giving a £66 subsidy off that, so £236 a month.
The stories of hardship remind me of when the Icelandic volcano erupted in 2010, when lots of people were stranded abroad. What surprised many was how many of those people, including apparently wealthy people, had no spare money to cope. They had maxed their credit/borrowing to go on holiday and when they needed extra, they had none. It showed how many people live to the limit, max their spending and cannot cope with any kind of financial shock.
The same is happening now with the huge rise in fuel bills. Even some apparently rich people are going to struggle, especially since other costs, such as mortgages are rising, as they have little leeway to cope, as they have maxed their spending already. Of course, many of them can sacrifice that holiday they could only just afford anyway.
I will cope, by not saving as much as I do, and not going to as many gigs as I normally do and fewer takeaways. But that has consequences on the loss of income faced by musicians and takeaway owners/workers.
I think, like in 2010, we will see who makes sure they have spare capacity to cope and who does not and it will not just be those on low incomes and benefits.
via International Skeptics Forum https://ift.tt/f6tMHxs
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