When does the "Cost of living crisis end"

[topcat2014]

There will always be inflation. The media created this thing called a cost of living crisis.

Recessions have a technical definition, so therefore a technical end.

What is going to be the trigger for society agreeing the cost of living crisis is over?

When idiots stop starting wars , and driving up fuel costs and therefore everything else!

It won’t. The western world is in decline. We were ‘rich’ before at the expense of poorer countries, we can no longer do this in the same way. This is it now.

It’s a silly slogan. But the two decades of lost real income growth is real.

We need to prioritise growth again.

We can’t tax and subsidise our way out of this.

There will always be wars as the rich get rich from wars and get to control society. Most of them are crazy leaders on power trips

It’s a real thing. Prices of everything are increasing so much. Wages are not increasing at the same rate making many things unaffordable. As a single parent it is incredibly stressful as there is only so far a single income can stretch

When more people are productive and don’t rely on the state.

We have created a remarkable sense of entitlement in huge numbers who contribute nothing. That makes it expensive for the productive minority to fund everything.

Thanks! I worry that perpetually using this phrase is actually pushing the economy down with no end in sight. I agree about all the wars of course

100% this
Having people who can work but dont want to is a perilous state, those people will be reliant on state help all their lives with no way out and not contributing , relying on others who are quite frankly pissed off
Time for personal responsibility and an end to MH diagnosis of anxiety meaning people lounge around forever
Far better MH support, fully funded would be cheaper imho

• No dont come for me I dont mean the disabled/ elderly

As @ExtraHotDoubleShot said it won't - a slow managed economic decline is the new normal.

The only way to halt it, is through policies and actions and a time frame that voters would never support.

It won’t ever be over . When have prices ever been reduced , people just get used to paying them .

I really feel single people are completely forgotten by the government. Affording everything on one wage is dire .

Inflation is not a given.

societies have experienced deflation (see Japan).

the current inflation is due to Covid, oil prices and Ukraine.

covid lockdowns are over.

Ukraine is ongoing.
oil squeeze is ongoing.

It’s not just the cost of their out of work benefits it is the huge costs for the various organisations to control / manage their chaotic lives .

The previously established world is rapidly unravelling

We just have to adapt and get used to essentials costing more.

Society has changed too much. It used to be rare for people to live alone when I was young, now it’s very much regular. A lot of my friends live alone as divorced, in my Mothers generation almost everyone was married. This isn’t some sort of criticism of the changes it’s just an observation of how society has changed.

The welfare state has also changed and is now a monster of its own making.

This. In the end our wealth comes from labour, and we have worked fewer and fewer hours as a nation, for decades now. Periods of unemployment, more and more sick leave, more people not working at all. All paid for by companies or government. They all add up to fewer hours worked which results in lower earnings as a country, less investment.

The most affluent people I know are those who put in 50 or 60 hours a week or more, and they don't seem to even notice the CoL crisis.

Plus we have the subsidies from Covid furlough (£70 billion) and the fuel subsidies in winter 22/23 (£40 billion) which were all borrowed and have to be paid back.

It's going to take a generation of calm steady growth, and lower support for those who don't work, and that means everyone equally, the unemployed, the disabled, the retired. If we want to regain our relative affluence, we have a lot of work to do.

There isn't enough oil to fuel economic growth.
The long term trend is now downhill all the way.

There isn’t enough oil ?

or we need to rethink how economic growth works

it’s kind of obvious that a planet with finite resources could only support so much growth if all growth is predicated on making and selling stuff

But that’s not the only way to operate

the natural evolution for neoliberalism is a poverty stricken lower class and a few super rich

rhere is no reason why wealth should be so badly distributed other than we let it

generally people seem to still beleive wealth will trickle down provided we don’t put any restrictions on the super rich

A crisis sounds short term but this one probably isn't. The economic situation worldwide is very bad.

About the same time as when the climate crisis is resolved and the war on drugs is won. When we establish a post-scarcity utopia where there's no point having money because there's nothing you could desire that you can't just have, and no way to have power because no one needs to fear the consequences of not following any potential "leader", and our efforts turn from a constant battle to further our prosperity to instead, in the context that every human is prospering, seeking to improve our individual knowledge and understanding and culture.

Absolutely this.

Cost of living crisis yet supermarkets, oil and energy companies and banks making excellent and very high profits.

Supermarkets typically make 2-3% on groceries. Not high at all. Higher profits usually come from banking/telecoms operations

💯

It’s set to get worse next year. Food inflation is set to spike in 2027. For those of us unable to earn significantly more (me!) it’s a real worry.

Incomes are going to have to rise faster, but that won’t happen without growth.

What are we to do?