Now UK is facing inflation so choose the best for you..

[aysg76]

Rising inflation is not a new concern for the economies but growth in prices at alarming rate and others or moving towards hyperinflation situation is matter of concern which needs to be taken care of but no what the government are busy doing is just printing more and more notes or say printing more fiat making it worthless which can be compared to piece of papers only.The developed countries are also facing such issues even though it's less compared to underdeveloped or developing countries like in US or any but now this time UK is witnessing inflation peak in food prices with growth in one month only

UK inflation made its biggest jump on record in August, adding to pressure on households as the government ramps up taxes on workers and prepares to cut universal credit benefits from next month.

The Office for National Statistics (ONS) said the consumer prices index measure of annual inflation rose to 3.2% in August, up from 2% in July, to hit the highest rate since March 2012.

The 1.2 percentage point increase between July and August was the largest since records began in January 1997

Moreover the government has ramped up the taxes and cut the social benefits also.Who is gonna face all these situations in bad way? The middle class who have trusted the banking system and government but they failed to manage such situations.This is just a step towards devaluation of your fiat and you will be worth zero near future.

UK inflation rising

So what is best for you? Bitcoin can safeguard you from all these things and provide you deflationary future ahead and you don't have to worry about all these things.Have your bitcoin stacked with you ASAP.

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[jackg]

Moreover the government has ramped up the taxes and cut the social benefits also.Who is gonna face all these situations in bad way? The middle class who have trusted the banking system and government but they failed to manage such situations.This is just a step towards devaluation of your fiat and you will be worth zero near future.

I assumed the working classes would see the greatest impact. The middle classes will likely already own a lot of assets/production power that are inflation resistant.

Inflation going up, in the case of the ons statistics, only means:
1. More people are spending
2. The cost of living is rising
3. A mixture of the two.

It's normally 3 that causes an increase but it seems like it's normal to see something like this after a recession and it has happened before (notably the 70s).

[Husires]

All statistics and analyzes of the economic future are dependent on controlling the pandemic. Without it being controlled, it is not possible to talk about any economic measures or start solutions.

according to NIESR forecasts:

• price inflation will reach 3.9% early next year, almost double the Bank of England's target
• if the BoE begins to raise interest rates, it should fall back to 2%

Source: https://www.reuters.com/world/uk/uk-inflation-hit-39-early-2022-niesr-forecasts-2021-08-02

All expectations are subject to change, as unemployment indicators and employment accelerators are good.
It is in a hurry to judge the weakness of the British economy, but it is definitely better to keep Bitcoin than to keep the money

[RapTarX]

Inflation going up, in the case of the ons statistics, only means:
1. More people are spending
2. The cost of living is rising
3. A mixture of the two.

Govt aren’t bothering about these I guess. What they are on is only to print more fiat and directly involved in the inflation. In such a pandemic, it’s quite normal to have inflation higher than usual but it seems UK is going to have some trouble in the near future.

not to mention that they need to have some sort of electronic device to use before they can access or buy their bitcoins and some people just don't have that kind of money.

What sort of electronic device you are talking about? A smartphone through one can use electrum wallet along with the lightning network? Isn't it available to everyone these days? Or what are you exactly talking about? A hardware wallet which cost less than $100?
This is not the perfect thread to discuss about this.

[Silberman]

Rising inflation is not a new concern for the economies but growth in prices at alarming rate and others or moving towards hyperinflation situation is matter of concern which needs to be taken care of but no what the government are busy doing is just printing more and more notes or say printing more fiat making it worthless which can be compared to piece of papers only.The developed countries are also facing such issues even though it's less compared to underdeveloped or developing countries like in US or any but now this time UK is witnessing inflation peak in food prices with growth in one month only


Moreover the government has ramped up the taxes and cut the social benefits also.Who is gonna face all these situations in bad way? The middle class who have trusted the banking system and government but they failed to manage such situations.This is just a step towards devaluation of your fiat and you will be worth zero near future.

UK inflation rising

So what is best for you? Bitcoin can safeguard you from all these things and provide you deflationary future ahead and you don't have to worry about all these things.Have your bitcoin stacked with you ASAP.

Anyone that does not have their head buried in the sand knew this was coming and the media is doing everything they can to try to hide it, in fact just yesterday I read an article that said that this was a great moment to buy a house, and I was perplexed, the price of houses have more than tripled where I live during the pandemic and somehow this is a good moment to buy? Invest your money in a store of value before the pieces of paper you have in your pockets cannot buy anything, as it seems governments have decided to let the printers running and this time they are not stopping them.

[ilovealtcoins]

Inflation will make things more expensive and the state will print more money to meet the money demand. So stocks, real estate, precious metals and Bitcoin will be the ones that will increase in value because they are actually scarcer than money.
Inflation can be controlled but they will always affect the economy in a negative way over time.

[Tytanowy Janusz]

Govt aren’t bothering about these I guess. What they are on is only to print more fiat and directly involved in the inflation. In such a pandemic, it’s quite normal to have inflation higher than usual but it seems UK is going to have some trouble in the near future.

Its not just US and now UK. Its the problem of majority of the word. Here is a list of European Union (UK just left but was there for like 50 years.



Mostly because whole world is build on wrong economic model, wrong political model, was printing like crazy during covid panic, have reserves in a currency of slowly dying country which import much more than export and its only solution is to print more. Thats why everyone is now talking about global reset. Not US reset.

[arallmuus]

Mostly because whole world is build on wrong economic model, wrong political model, was printing like crazy during covid panic, have reserves in a currency of slowly dying country which import much more than export and its only solution is to print more. Thats why everyone is now talking about global reset. Not US reset.

Its not really bad afterall because it could have been way worse. Some developing countries would have higher inflation rate compared to some higher income countries but overall if it stays on average of 2-3% for global economic then Im pretty sure that it would turn out fine in the end however the good part of this is that some countries are looking into some other reserve alternatives such as bitcoin

At the long term, this would be beneficial for bitcoin

[Sterbens]

If British people know where to look for a rescue against inflation that is going on, many of them will probably choose. Not only Bitcoin gold can be their financial savior during inflation. And until now, management to avoid inflation is just that. Early securing large sums of money in bitcoin and gold can give them some relief.
I see that not only for the UK, but inflation is also eating away at the big countries. That way more economic overhauls and Bitcoin offerings are up for adoption.

[Coyster]

So what is best for you? Bitcoin can safeguard you from all these things and provide you deflationary future ahead and you don't have to worry about all these things.Have your bitcoin stacked with you ASAP.

Bitcoin is of course a very good hedge for fiat inflation and devaluation, but just as you have said and likewise many of us are experiencing in our country of residence, the cost of living has skyrocketed, fiat money has lost a lot of it's value and prices of basic commodities are going up, thus it's going to be very difficult for an average citizen to take this advice of yours, people who can barely get enough to live on per day would surely not be thinking of Bitcoin; imo, as much as Bitcoin is good and necessary in our society today, as regards inflation and hyperinflation what is needed is quality measures from the government to handle the situation and bring things under control, only in such situation can peoples minds go in the direction of Bitcoin, except of course for the rich individuals.

The government printed quite a lot of money i understand, was it a very good move? No. But imo, at that time it was more less their only option as they had to do something, with little or no money in circulation. It's just like the issue with vaccines, anti-vaxxers think it's unnecessary and are of the opinion that our immune system is sufficient to fight the virus, but the truth is no matter how one is indifferent to vaccines, vaccination is more or less the only way to bring the spread of the virus under control.

[Fortify]

Rising inflation is not a new concern for the economies but growth in prices at alarming rate and others or moving towards hyperinflation situation is matter of concern which needs to be taken care of but no what the government are busy doing is just printing more and more notes or say printing more fiat making it worthless which can be compared to piece of papers only.The developed countries are also facing such issues even though it's less compared to underdeveloped or developing countries like in US or any but now this time UK is witnessing inflation peak in food prices with growth in one month only

UK inflation made its biggest jump on record in August, adding to pressure on households as the government ramps up taxes on workers and prepares to cut universal credit benefits from next month.

The Office for National Statistics (ONS) said the consumer prices index measure of annual inflation rose to 3.2% in August, up from 2% in July, to hit the highest rate since March 2012.

The 1.2 percentage point increase between July and August was the largest since records began in January 1997

Moreover the government has ramped up the taxes and cut the social benefits also.Who is gonna face all these situations in bad way? The middle class who have trusted the banking system and government but they failed to manage such situations.This is just a step towards devaluation of your fiat and you will be worth zero near future.

UK inflation rising

So what is best for you? Bitcoin can safeguard you from all these things and provide you deflationary future ahead and you don't have to worry about all these things.Have your bitcoin stacked with you ASAP.

While inflation in the UK might continue to rise in the short term, maybe hitting 4%, the reasons behind it are causing this distortion and it is being showcased here in a very misleading way. Around this time last year the UK government was trying to spur spending and wanted to get people spending within the economy, so they offered a 50% off discount with certain criteria at every restaurant in the country (they covered the excess bill to a certain price). This worked and lots of people took up the offer, however it is bound to show a drop a year later since it is a yearly month on month based comparison. You probably know this already, or should know this from even basic research, and have decided to paint a false picture of what has actually happened to cause this rise.

[coupable]

Inflation will make things more expensive and the state will print more money to meet the money demand. So stocks, real estate, precious metals and Bitcoin will be the ones that will increase in value because they are actually scarcer than money.
Inflation can be controlled but they will always affect the economy in a negative way over time.

Yes it can be controlled, but it's always unavoidable. Also, printing more money papers seems to be as a way to control inflation while it sophisticates things more. The known solution is that the bank of England will rise the interest rate, prices will continue rising until people and businesses have les money to spend which will stop pricing from rising more and we reach a stability again [It will take several months].
Note that this high inflation was expected right after the Brexit. However, it didn't exceed the 4% during its history, so the UK is still far from an hyperinflation like happened before in Zimbabwe or Venezuela.

[The Sceptical Chymist]

Moreover the government has ramped up the taxes and cut the social benefits also.

And that's the kicker--in addition to higher prices, taxes are going up and governments are looking high and low for ways to cut funding to various programs, and it's not just happening in the UK.  It's happening in the US and who knows how many other countries.

That graph doesn't look too bad, considering that it looks like inflation was over 5% in 2012 and is 3.2% now.  But looking at the period after the trough in 2020, it seems as though inflation is going up in a vertical line and that's scary.  There's no telling how far that trend is going to last, but if I had to guess I'd say it'll be a problem for years.

I hate to be pessimistic and I'm not a person wearing a "doomsday is coming" sandwich board, but Jesus....it's going to suck to be poor for a very long time, and even if you're in the middle class it's going to be bad.

[Hydrogen]

I think some of the cost hikes associated with rising food prices are on the supply side. The price of oil has increased. Which raises shipping costs that passed on to businesses and consumers. Over the last 2 years farmers have recorded poor crop harvests, which diminish supply and also contribute to price hikes.

The media can say its "inflation" to keep the public's eyes closed as to what the real causes are. Leaving people powerless to be literate on economic and financial issues. Those who want to appear smart on internet forums often spam the catch phrase: "correlation is not causation".

Where is the correlation or causation between food prices and inflation? Did the UK recently print fiat in significantly greater supply? Is there anyone who cares about knowing legitimate facts behind rising prices and current market trends.

[Gyfts]

Moreover the government has ramped up the taxes and cut the social benefits also.Who is gonna face all these situations in bad way? The middle class who have trusted the banking system and government but they failed to manage such situations.This is just a step towards devaluation of your fiat and you will be worth zero near future.

I assumed the working classes would see the greatest impact. The middle classes will likely already own a lot of assets/production power that are inflation resistant.

Inflation going up, in the case of the ons statistics, only means:
1. More people are spending
2. The cost of living is rising
3. A mixture of the two.

It's normally 3 that causes an increase but it seems like it's normal to see something like this after a recession and it has happened before (notably the 70s).

Inflation is just defined as not enough labor/products, too much supply. More spending is usually an outcome of higher inflation rates, but that isn't necessarily the causal factor. The cost of living increasing is a factor that goes into inflation calculation.

You can inject money through whatever mechanism the central banks want, or can limit the products/labor that exist in the market. Some central banks tried to dry up the market with taking on securities (aka the US), and you can see where that led to (5+ inflation rate). So it's not only that the cost of living went up due to a shortage of products, because Covid caused some shortages, it was a lot of mishandling of fiscal policy

[Poker Player]

Moreover the government has ramped up the taxes and cut the social benefits also.Who is gonna face all these situations in bad way? The middle class who have trusted the banking system and government but they failed to manage such situations.This is just a step towards devaluation of your fiat and you will be worth zero near future.

I assumed the working classes would see the greatest impact. The middle classes will likely already own a lot of assets/production power that are inflation resistant.

Yes, depending on what is meant by middle class. There are people who understand that someone who earns approximately the median income is middle class and I think that's what the OP had in mind..

I prefer the definition:

Working class: relies exclusively on their job to live.

Middle class: depends on his job to live but has financial assets whose income improves his standard of living and that would allow him, if he loses his job, to hold on for a while with that income and/or by selling assets:

Upper class: does not need to work to live. He can if he wants to, but the income from his financial assets exceeds his expenses.

What is clear is that in a hyperinflation scenario, and in life in general, those who have financial assets will always be better off economically than those who do not, even if in a crisis those assets lose value and their income is reduced.

[Tytanowy Janusz]

Its not really bad afterall because it could have been way worse.

It will be way worse. Its just the beginning. Inflation is not pumping 20% in one year to dump back a year after. Its a long process. Things that we do now (printing 20% of whole $$ supply in 1 year ... same with euro and other big currencies) impact inflation for next decade. And there is nothing we can do now to stop it.

The worse part is that we did not spend printed money for things that boost amount of available goods (f.e tech, investments). We used it to pay people to stay home - produce less stuff. So we increased supply and decreased amount of stuff you can do with them.

So yea its really bad.

At the long term, this would be beneficial for bitcoin

We can't say that stealing money from hard working middle class is not bad because it may be beneficial for bitcoin in long term.

[bittraffic]

The crisis is affecting each country's economy because all of them are printing money. Economists are saying that there is a debasement of USD in the world economy.
Inflation is inevitable for its happening since but the crisis is really speeding it up that even the rich countries are experiencing a hard time.

Institutions are also seeing BTC as a hedge for inflation that is why they are buying a lot of it. Countries that adopted BTC have the advantage over those that haven't.

[palle11]

Not everyone can use bitcoin, even if they want to, then how will they find a spare money to buy a small amount, not to mention that they need to have some sort of electronic device to use before they can access or buy their bitcoins and some people just don't have that kind of money.

One problem associating inflation across the world is that the low income earners and people on the street suffer but the rich gets better because they can have access to other amenities. Here the government want to come in the way of giving out loans but such loans don't get to the grass root but the rich get to grab it as they are influential and in government.

[Kittygalore]

~

One problem associating inflation across the world is that the low income earners and people on the street suffer but the rich gets better because they can have access to other amenities. Here the government want to come in the way of giving out loans but such loans don't get to the grass root but the rich get to grab it as they are influential and in government.

Exactly my point, people that think this way are so out of touch with the fact that not everyone is like them and that everyone can do what they're doing. The problem with the lack of empathy and being out of touch of some privileged people are really appalling, if the poor can invest then we wouldn't have any poor people in this sorry of an excuse of a world.