Thoughts on Finance, Current Affairs and General Consumer Ripoffs - Damn Lies and Statistics

 Following the Covid19 pandemic the expectation seems to be that some peaks of inflation are coming across the world but that these will only be temporary. These rises in inflation have already started, the main question is how big the rises will be and how long they will be maintained for. I suspect that the situation in the UK will be somewhat different to elsewhere due to the elephant in the room that is Brexit. It's not really being mentioned in the mainstream media and is being masked at the moment by the impact of Covid19 but I believe the shock to the UK economy from Brexit will be much greater than is currently being anticipated not helped by a government that is in denial. August 2021: In the MPC’s projection, inflation rises temporarily to around 4% in the near term, largely driven by energy and goods prices. Inflation starts to decline in 2022, and returns to the 2% target in late 2023 There are plenty of news reports about the shortage of workers whether that's for ...

 After their recent announcement that they are pulling out of the current account market and closing all customer accounts that remain by 30 November, Tesco have managed to score a spectacular own goal by now cancelling the switches that customers have requested. There are a lot of unhappy customers that want to move accounts now that Tesco Bank have stated that they will be closing yet Tesco seem to have completely underestimated how many customers would want to move.  To deny customers the ability to move to another bank seems to go completely against the ethos of the Current Account Switching Service (CASS) that they are signed up to especially when they have told customers that they no longer want their business. You can see that info from Tesco Bank here https://www.tescobank.com/current-accounts/

 The company that approved promotions for many mini bond sellers such as London Capital & Finance and Blackmore Bond has entered into liquidation as of 6th August 2021 as reported by the FCA. The FCA warn, without any irony, that scammers may take advantage of this situation to defraud investors who placed money with them failing to note that thousands of investors were scammed by companies such as LCF whose advertising promotions were approved by NPI. It's not known why NPI has gone into liquidation but may be due to the number of claims that could be coming relating to their approval of the Mini Bond promotions for various companies that have since failed.   Northern Provident Investments Ltd (NPI) Liquidation