How much longer will this bear market go on for?

sevenhills

Millyonare said:

Know someone on £25k salary who has just cut their "personal inflation" rate by a huge -30%. Shop at Aldi not Waitrose, drive a Citroën not a Merc, walk not drive, etc. It is very possible for many to ruthlessly cut costs and "beat" inflation.

Well they chose a more expensive lifestyle to start with.
If your desire is to shop by brand, then they must get pleasure from driving a Mercedes!

InvesterJones

sevenhills said:

Millyonare said:

Know someone on £25k salary who has just cut their "personal inflation" rate by a huge -30%. Shop at Aldi not Waitrose, drive a Citroën not a Merc, walk not drive, etc. It is very possible for many to ruthlessly cut costs and "beat" inflation.

Well they chose a more expensive lifestyle to start with.
If your desire is to shop by brand, then they must get pleasure from driving a Mercedes!

If there's any weight to stereotypes then the Merc might be the cheaper one to run

sevenhills

Linton said:

I think it  is reasonable for state pensions to increase with inflation, otherwise the effect will compound over the years such that future generations of pensioners will receive state pensions that are insufficient to cover the basics of life.

Political motives seem to set public sector pay, which is a shame. Pay rates should be set, to attract enough employees.

InvesterJones

sevenhills said:

Linton said:

I think it  is reasonable for state pensions to increase with inflation, otherwise the effect will compound over the years such that future generations of pensioners will receive state pensions that are insufficient to cover the basics of life.

Political motives seem to set public sector pay, which is a shame. Pay rates should be set, to attract enough employees.

Since we don't conscript public sector workers, they are.

AlanP_2

sevenhills said:

Linton said:

I think it  is reasonable for state pensions to increase with inflation, otherwise the effect will compound over the years such that future generations of pensioners will receive state pensions that are insufficient to cover the basics of life.

Political motives seem to set public sector pay, which is a shame. Pay rates should be set, to attract enough employees.

I agree, if they were then there wouldn't be any public sector vacancies would there.

anonmoose

Millyonare said:

Know someone on £25k salary who has just cut their "personal inflation" rate by a huge -30%. Shop at Aldi not Waitrose, drive a Citroën not a Merc, walk not drive, etc. It is very possible for many to ruthlessly cut costs and "beat" inflation. Make your money go further.

That's great if you have brand levels left to cut.  Many people I know including myself cut the fat during covid.  So it's a bit harder to beat inflation when you already shop at Aldi etc.  For me this winter probably a few of our luxuries will go.  I feel for those who don't have any way left to reduce spending.

InvesterJones

Anyway, getting back on topic, the Wall Street Journal have called the bear market as over, and say the NASDAQ is officially a bull market now.

Nebulous2

There's an issue with inequality, which goes well beyond the pensioner / wage rise for workers dilemma. With a stratified society it's becoming increasingly hard to see or recognise 'how the other half lives.' 

I'm currently on holiday near London. Fed-up of the heat and looking for a day out we went to the Imperial War Museum at Duxford yesterday. £25 to get in. £2.50 voluntary surcharge as a 'donation,' then gift-aid on top.  £13 in the canteen for a hotdog (some crisps and salad included, but you get the point.) Add in a couple of coffees and we were looking at North of £100 for two of us for 4-5 hours, plus another £20-25 for diesel. The place was extremely busy, lots of families, multi-generational groups and couples. 

These aren't people worried about heating. Some of them may have deferred rises - fixed rates on mortgages and fuel, but they can afford to blow that without thinking, with numbers taking plane rides on top of our costs.

I'm on a two-year fix and moaned about an increase from £98 to £160, where if I wasn't fixed I'd be looking at £240 or so now and £350 come October. 

Having said that I'm kind of glad I've kept a toe in the world of work, and am doing 1 day a week. That has helped to keep our capital intact in the last 18 months. 

Type_45

InvesterJones said:

Anyway, getting back on topic, the Wall Street Journal have called the bear market as over, and say the NASDAQ is officially a bull market now.

* Whistles...

csgohan4

it wont be over until Russia ends their war and energy prices stabilize and China ends their zero covid strategy