Reply With QuoteThey have been convinced they are worthless. MP's are worth lots though, and their wives who are paid 30k a year to refill the stapler.Originally Posted by Organ Morgan.
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Surprised no-one's created a thread about today's data. Inflation is how those at the very top steal from the poor and middle class to enrich themselves and those like them - the 1%. World's eight richest people have same wealth as poorest 50% - https://www.theguardian.com/global-d...-as-poorest-50
Six million plus public sector workers will slog for less money in real terms this year than they did last year. They've been fecked over by the government using the same method for the best part of the last decade. Ditto for a great many benefit claimants and savers.
Must confess I don't have much sympathy for the public sector employees because they are so docile.
They have been convinced they are worthless. MP's are worth lots though, and their wives who are paid 30k a year to refill the stapler.
It's part two of the great Tory redistribution of wealth plan.
Unless or until they take sustained industrial action they will continue to be financially buggered. On average they are working for around 9% less today when adjusted for inflation than they did in 2008. Obviously, they have the option to seek employment elsewhere. But if significant numbers did in critical fields we'll be worse for it.
I've been looking into Greece's demise since 2010 where state employees' wages and retirement pensions (along with everyone else's, including their State Pension) have been savaged. Yet no politicians, bankers or senior civil servants have been strung-up. In fact, despite riots galore, I don't believe anyone has died as a result of the tumult. And they are (or were) supposedly hot-blooded who suffered no fools.
I see that interview with Lord King took place in October, would he be saying the same thing now in view of stories like these from the last month or so?
https://www.ft.com/content/bb6d9ae2-...7-99e922e0ac5c
https://www.ft.com/content/f85a75e8-...4-ab04428977f9
The two trends that are the subject of these pieces strike a non expert like me as problematic for any Government and I can only imagine what the response of you and a few others on here would be if these figures came out under a Labour Government's watch.
you could argue that some parts of the blue colour workers earn very good wages , rail drivers earn more than health workers , car workers earn more than teachers , steel workers and their legacy challenging pensions earn more than other manufacturing jobs ,tube drivers earn more than doctors in London , you then could argue , pay the teachers , public sector, fireman more etc etc and yes tax the rich , however they are in the small percentages , and the rich like it or not do generate the public sector industry which provides jobs and revenue , seems like its a race to the bottom, and I do say this without political bias.
We could move to more public ownership ,higher wages , and be more like Greece whose jobs were 60% plus in the public sector ,how though do we get that to become accountable and generate wealth and grow the economy,and yes we do need that ,as history has shown us .
I remember when working folk had real rock bottom wages, worked endlessness hours for very little, had no rights , never had foreign holidays , cars , mobile phones etc , it's not like that now , yes some parts of society suffer and the differentials between the obscene wealthy are much worse ,however they are in the small percentages ( one sector includes the sport we support ), on this basis the majority are on middle wages bands , doing okay , not great , but not poverty as we see in some countries , in general people have a decent base wage ,have a car or two ,mortgage/rent , go on holiday ,would like a bit more.
There is an easy answer which no ones likes ,everyone pays more tax ,not just the 1% it is ring fenced, and it goes directly into the NHS , Education ,Social Care , Policing , will that will votes , probably not ,folk want the cake and more cake .
Looking forward to seeing those banners next year attacking the £25k per week footballers ,saying pay more tax , ore we are starving ( burp,fart ) we cant afford this no more .
Last edited by life on mars; 17-05-17 at 08:07.
Private sector wage growth is at 2.8% so still enjoying a growth is real terms. Overall figures are held back by public sector pay which the tories have kept low.
What is the breakdown of that 2.8%? Is that across the board or does it vary from low paid to high paid? For example, a company owner enjoying a wage rise of 20% while those underneath him haven't had a wage rise for years could look like growth at 2.8% overall.....
I can vouch for the shit public sector pay. In two years I was in same job and pay actually decreased due to pension changes and no incremental pay rises.
Utter dog shit pay for what I was doing and so it's the private sector ( network marketing ) and my driving job for me.
Everything seems to be be linked to Brexit (again)
I voted remain as I thought its just going to be a massive pain in the arse decoupling from the EU with what I think will be very little change. So why go though with it was my thought process.
To those who voted leave what honestly do you think after all this ****ing hassle is going to be the life changing benefits ?
Not having a go just intruiged.
You're barking up the wrong tree. Replace Brexit with negative real interest rates. The BoE base rate is 0.25%, CPI inflation is 2.7%. The government is robbing those people I mentioned in my last post by inflating the debt away.
The wealthy have been sinking their cash into physical assets, in preparation for this phase of monatory policy.
All the major currencies - yuan, US dollar, euro, pound and yen - are battling the others to be the ugliest in a least attractive currency competition. It's better and more concisely known as currency wars or the race to the bottom. It's the prime reason bitcoin keeps shooting up. When the reset (ie, crash) comes, those whose wealth is in fiat money, whether they hold it in physical paper or as digits on a computer screen, will be the biggest losers.
Follow the rich and put your money into luxury yachts, classic cars, jewelery, artwork, high-end apartments, etc.
Nah, Pot Noodles is the way to wealth preservation.
UK stock market is at an all time high while UK base rate is at an all time low. Why's that? Easily available credit, and credit is a polite word for debt. The world's in an enormous debt bubble. When it pops then we get the reset. All by design.
PCP for cars being a prime example
Yes, it is inflating it's way out of debt. As prices go up, taxes rise, and the money owed shrinks in real terms. Secretly, an inflation rate of 6% - 9% would suit the treasury very well. I can see inflation hitting that sort of figure once the great British pound sell off begins in 6-12 months time. The FTSE will rise though, so even urchins like us can make something out of it.
That is a minor part of it. The REALITY is the weak pound is why. Earnings for FTSE are mostly in nonGBP currency. Therefore their incomes have increased on the back of it. Also a lower relative share price for foreign investors encouraged several takeovers of UK companies, as they were undervalued.
Or what ever you regurgitate from your fear induced websites.
Source? Sell off?
My sources predict a gain in GBP.
Yeah, it's the US dollar's turn to have a place at the front of the worst currency race and consequently the pound, euro and yen rise against it. But never forget that nothing backs any of them. The foundations that supports them are intangible ones, faith and confidence. Once those disappear we'll have a crack-up boom as people rush to exchange their rapidly depreciating paper.
Some examples here of what happened in Germany between 1919-1923. http://www.bbc.co.uk/education/guides/z89dcwx/revision
That is true of everything that has value though. Whether its diesel cars falling out of favour. Or gold becoming more or less popular. Or housing. Tell me something that has a value that is not subject to falling prices when people stop backing them?
You seem to think Gold is a safe bet, but its no different to Art, to Houses, to Currency. It has a perceived value, perceptions change, and therefore values to. Whether or not something is a tangible asset or not doesn't change matters. What use is gold if everything goes kaput.
Do you try and understand how currencies fluctuate? https://www.fxstreet.com/economic-calendar Using this page is a start. Economic shocks are not on their but by nature they are not really predictable.
These currencies we have, all of them are fiat ones, as I said are backed by zilch. Because of that infinite amounts can be created in an instant. The vast majority of it doesn't even exist as paper and coins but as digits on computer screens. You can't say that about art, land, property, precious metals, diesel cars, etc.
I wouldn't describe owning or buying gold as a bet but an insurance policy. It's been money for thousands of years, same for silver, because of its rarity. The pound and US dollar have lost 96% of their purchasing power in the past 100 years, most occurred since 1971 when the US closed its gold window as France demanded their debts be paid in it rather than paper. Of course, debts and inflation have shot up since then because the equilibrium with the money supply with the growth in goods and services has been skewed to such an extent that these major currencies dare not normalise interest rates as they've been in extend and pretend mode delaying the inevitable implosion since 2008 by piling up even higher debt piles.
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