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Rates are not going back to sub-2% for a long time

I disagree quite strongly.

Economies limping along at ~1% GDP growth per year and little or no GDP per capita growth can’t handle larger base rates for long. It’s a self-correcting cycle - if base rates remain elevated for too long discretionary spending will collapse and many, many businesses/loans/credit with it.

Rishi promised to half inflation not because he’s a financial genius with a secret trick, but because he knows two things: 1) what I said above, 2) inflation is often given as a YoY measure, so by December 2023 we’re measuring inflation above the 10% inflation of December last year, and the country can’t afford 10% inflation per year for long either.

Dear god, he can’t possibly be actually that dense

Nah he’s not. They’re not allowed to do anything but toe the party line if they want election support/funding, ministerial roles, post-MP consulting jobs etc, so they say stupid things a lot and pretend they mean it.

It is proposing a new licence condition to “ensure electricity generators don’t take advantage of existing rules to make excessive profits”

Why? If you want an energy market you shouldn’t be surprised when it does what it can to grow profits, including withholding supply to sell later at higher prices.

This is typical of the past 10-15 years. Plasters on gaping wounds. Energy providers should be competing to sell us their energy generation capabilities. Competition drives down prices in the long run, not intervention. Of course, the lack of an energy strategy or any investment into one for a decade does leave us a bit… well, fucked.

but ones that also have a special duty to take a long-term view.”

Nice of them to admit they don’t currently care about anything but the short term. Changing the name won’t change their outlook, get these utility monopolies back into government control.

I also try to dissuade people from thinking their two options are two sides of the same coin by… checks notes… doing the same as the other side.

I get this a lot. Hot posts 4 days old with no new comments. Something isn’t quite right yet.

WHERE HAS TOM GONE

There’s been a thousand predictions of house prices falling over the past decade for a hundred reasons, and every single one falls over the fact we have a drastic shortage of housing and no credible plan to increase the speed we build them.

25-30% in real terms is pure fantasy pulled from your arse and it’ll never happen, not even close. Does Lemmy have a remindme bot so I can come back in 6/12 months and point this out?

Using Garuda (basically just Arch with some bloat) because I’m 1) too lazy to install Arch myself and 2) on an Nvidia card and Wayland WMs still seem buggy for me. Once (if ever) Wayland is stable on Nvidia I’ll probably look for an alternative