Re:Ask HN: What are your thoughts about the looming EU energ...
by porker on Monday August 29, 2022 @03:30AM
(#32635569)
It's grim.
I'm in the UK where the government has done less than some EU governments so far to cushion the consumer price rises, and they're predicting the average energy bill to be £7.7k next year. The median UK household income is £31.5k after tax, so that's a big amount to dedicate to energy; more than many households have.
I don't see how we break out of the inflation / less buying power / businesses close / unemployment spiral. Inflation alone was bad in early 2022; the current situation is far worse.
Societal collapse sounds like catastrophising, so let's go with mega-big recession, and Europe being set-back as the bad outcome.
The knock-on destabilisation from our lower purchasing power on China is where it gets "interesting" as their economy is further impacted. The usual cycle to get out of this has been war / reduced population / increased demand.
If my partner's job wasn't tied to being here in the UK and non-transferable (country-level regulations) I would be looking at moving to the USA for the next 5 years, even with the threat of Trump in 2024.
I'm in the UK where the government has done less than some EU governments so far to cushion the consumer price rises, and they're predicting the average energy bill to be £7.7k next year. The median UK household income is £31.5k after tax, so that's a big amount to dedicate to energy; more than many households have.
I don't see how we break out of the inflation / less buying power / businesses close / unemployment spiral. Inflation alone was bad in early 2022; the current situation is far worse.
Societal collapse sounds like catastrophising, so let's go with mega-big recession, and Europe being set-back as the bad outcome.
The knock-on destabilisation from our lower purchasing power on China is where it gets "interesting" as their economy is further impacted. The usual cycle to get out of this has been war / reduced population / increased demand.
If my partner's job wasn't tied to being here in the UK and non-transferable (country-level regulations) I would be looking at moving to the USA for the next 5 years, even with the threat of Trump in 2024.