Comments by "TJ Marx" (@tjmarx) on "Experts explain: Why is the UK economy doing so badly?" video.

Problem is, during high inflationary events is UNIVERSALLY not a good time for a wage rise. In many ways high inflation is worse, or at least more dangerous to an economy, than a recession. Let's be clear, inflation in the UK is getting dangerously close to the flipping range where high inflation turns into hyperinflation. There is genuine risk of the UK economy turning out something like Lebanon, and all this union strike action might get the economy there. Unions need to calm down or they're going to make things far worse for everyone. You can not raise wages to get out of inflation, you just raise inflation at twice the rate which makes real wages go further backwards, not forwards. It solves nothing, it just makes it all worse.
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@Ben-jq5oo As you'll hopefully seen from your notifications I just spent the last 30 minutes setting out a thoughtful explanation for you. It was long but as brief as I could make it given the subject matter. Unfortunately it would seem YouTube's algorithm doesn't like the idea of people understanding inflation because my comment was automatically deleted. I don't know which magic word got my comment flagged but I don't have time to write it all out again right now I'm afraid. If you can view your notifications through desktop you should be able to expand the full comment there. Otherwise let me know and I'll try to find time later to explain it...again 😶
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@marnie9063 what's funny about it? Was the pay rise of the executive team, an incredibly small number of people, scheduled? Yes? Right, what are you taking about? That you don't think it's fair that people at the top with greater responsibility have more money than people in the middle with a medium level of responsibility? It would be that inflation or not. You don't get it do you, you can't shift large numbers of people into higher economic categories without destroying the value of the currency. Learn how capitalism actually works.
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Neither party wants to say the obvious so I'll say it for them. The OBR is wrong. They're talking almost exclusively about the near term during high inflation, and then using that as justification to push the 15% decline figure they were talking about before the brexit referendum even happened. Then using that in modelling to justify such an outlook. It's faulty circular reasoning that only serves to push their bias. Frankly it's not very responsible to the budget for the OBR to act this way. The OBR is obsessed with the EU market and can't see the forest for the trees. But there are other markets to exploit and that was the point of brexit. The OBR needs a reality check. Brexit isn't the cause of poor trade, it's the solution to it.
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