Have to admit I was trying to deny the idea of a bad winter. Just this last week I have realised that things do seem to be unravelling. Bond markets doing horrible things and interest rates on the up. So inflation looking to be worse. That's of course if there is food to buy. With the oil crisis deepening in the last few days disruption to food supplies is looking more likely. Not to mention shortages from failed crops due to the heatwave and the shortage of fertiliser begining to kick in.
I feel there has been too many 'casual' warnings recently from the govt. Buy water, food, radio, power bank etc. I know we were behind the other european countries on this and so I would like to think it was just a catch up. However I am not convinced.
Power cuts are looking inevitable rather than a maybe with Saudi cancelling oil orders.
It's funny how my memories of the seventies are starting to creep back in. Power cuts, food prices going up weekly, freezing weather and most houses didn't have central heating. Well we do now but will it be on. No miner strikes this time, just much bigger problems. Funny how the miner strikes almost seem 'quaint' now in this era of cyberattacks.
I would have said stocking up for 6 months was over the top but with all the bad news on several fronts this last week to 10 days I am starting to think it wouldn't be the worst plan. The water I ordered in my Tesco shop was out of stock so are shortages starting already? They gave me a substitution but still. Made me uneasy.
Best case scenario - food prices go up but no shortages. Worst case - shortages and more 'covid fighting' for resources and prices going up dramatically.
Best case scenario - irregular power cuts or scheduled cuts we can prepare for. Worst case - days (weeks) with power down and a flippin nightmare.
I've spent £700 in Tesco this week. In fairness some of the things I buy were on special so stocking up for that reason as well. Toilet rolls, tinned food, water, pet food, first aid kit cos can you imagine A&E if this all kicks off.
I remember fuel shortages about 20 years ago. I think there were strikes and blockades. Milk and bread was hoovered up within hours and that was a very short term thing. Shelves were literally bare. And that of course was before our population ballooned. Even beast from the east a few years ago - I lived in the centre of Edinburgh at that time and everwhere was out of milk as deliveries couldn't get through. Shops everywhere but no milk.
I can honestly see us with another PM within the year and it's a timebomb for whoever is juggling it.
I mean we are struggling to pay our interest bills just now (on govt debt) so what happens when they have to repay that debt and refinance it at higher rates.
Scary times ahead.