Wednesday, Jan 14, 2009
Double digit wage inflation required for debts
Scotsman: Bank Loans skewed to Households
"The question is whether the UK consumer can keep up the payments on its collective debt, which starts to look more unlikely as unemployment rises.
Nor can employers be reasonably expected to put wages up. Evo estimates it would take double-digit wage inflation to meet payments on debts."
Hmmm. On a separate note, I think the Scotsman has really good articles on finance. I often notice them. Perhaps they just lack the vested interests of their southern based competitors, who are usually really unimpressive. Anyway, at the moment double digit wage inflation doesn't look very likely, so 2009 looks like keeping its Year Zero status for defaults.
Posted by stillthinking @ 06:44 AM (330 views) Add Comment
3 Comments
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1. japanese uncle said...
We all know that double-digit wage deflation rather than inflation is already the economic reality here.
2. P. Riddy said...
I don't have debt and didn't vote for Communism. There is no such thing as Collective Debt. Its just downright theft and corruption.
3. jonb said...
The Scotsman do appear to like ramping up the Edinburgh property market.