The stories are widespread. As the Guardian notes, more than 3 million households had their power cut off last year because they were unable to keep up with the demands of the prepayment meters.
Ministers are being urged to stop the forced installation of prepayment meters after revelations that 3.2 million people – the equivalent of one person every 10 seconds – were left with cold and dark homes last year as they ran out of credit.
There were 3 million instances of people forgetting to put credit on their cards perhaps. Not, really, the same thing.
The FT has a prediction from financial services regulators that up to 750,000 households may default on their mortgages before this crisis is over, which is 9% of all mortgages in the UK.
No, not really:
More than three quarters of a million UK households are at risk of defaulting on their mortgage payments in the next two years, the country’s top financial regulator has warned.
In a letter to the House of Commons Treasury select committee on Wednesday, the Financial Conduct Authority said about 200,000 households had fallen behind on their home loans by mid-2022.
The watchdog said a further 570,000 households were “at risk of payment shortfall” within the next two years, because their mortgage costs will be more than 30 per cent of their income.
Again, really rather different.
And meanwhile in the US inflation has fallen for the sixth month in a row (wholesale fuel prices are falling there faster than in Europe) proving, yet again, that the Fed never did need to raise interest rates there,
That rising interest rates might have had an effect upon the inflation rate is something to ponder, but not for The Potato. Like, say, the US raised rates earlier and higher than the UK, the US inflation rate is falling earlier, faster and further than that in the UK…..
Oh well, got to sell disaster because if you don’t then how to stampede people into idiocy?