And why are power cuts likely? What an absurd situation.
“None of the above for today’s youth, warehouse packers and parcel delivery men.”
That is not the case, Heath, there are many more opportunities for higher education now than there were in the 1970s; and if people want to learn or retrain there are numerous ways of doing so that cost much less than in the 1970s, especially online.
On top of that the relative cost of goods has decreased enormously. A very good indicator for this is how many people own cars. In 1970 around 50% of UK households owned at least one car while that figure is now over 75%. I grew up without a telephone in the house while now virtually every single person in the family has their own phone.
The real disaster for people now is the price of energy. This is affecting everything, including interest rates. The reason interest rates are rising is to address inflation, which has primarily been driven by… energy prices.
