desperate young

Actually they can cut interest rates, it is called qe, negative real interest rates.

* above should say currency devaluation not inflation , sent from mobile so can't edit.

Wage inflation nominal with currency inflation is real term wage cut. This could make UK more competitive, solve over valued houses and avoid damaging banks balance sheets. I don't think the governments steps so far have been too anti house prices, just against benefits including housing. To make up for this o expect targeted qe to support house prices specifically. What do u think?

Good suggestion, although I only got into earning reasonable money in 2008 so prefer silver although I have only a small amount at the moment

Maybe, but I seriously doubt they will do nothing. They cannot be seen to be doing nothing. They will act, the degree to which it will work will vary but they will try. I think they will go for super QE next time and maybe some direct intervention in the housing market. This report from the Bank of England illustrates the value that they place on the housing market. What happens if they do nothing? Int rates will rise not just due to BoE rate but also due to declining equity, this = mass home repossession and economic catastrophe. They would rather try something like more QE than just sit back and let this happen. Edit: SPG

So what do we think it will be? My prediction is nominal falls for 6 months and then price stabilisation whilst inflation catches up (including wage inflation IMO). I have been reading this report on the market in the 1970s from York University, do not doubt they will try something big looking at all of the previous efforts. HPC yes- Nominally IMO not what many here are hoping for, in real we will hit the jackpot. This is what we should all be hoping for the economic chaos if this does not happen will be as bad as the TFH describe. It is not different this time they will only go one way if they can....

There's not too much trouble recruiting for any subjects in good schools, the arts teachers tend to be the better educators so it balances . The bad schools struggle to recruit in all subjects. The bigger problem is that it is barely a living wage unless you live in the north or Wales . I would have a greater degree of regional pay differentials . it is a far harder and more technical job than most realise. I would NEVER go back. Imagine preparing 23 hours worth of presentations to a wide range of abilities that you have to make interesting and then assess this weekly. This ignores the bad behaviour and paperwork, the hours are horrendous. As always the root problem (ie living wage) is crazy house prices.

Test manager south west

I was a teacher moved to IT for an easier life, double the money and far easier to get promoted. The problem with this board is too many people discussing things they are a long was from understanding. It is too simplistic and people that I used to read and respect have disappeared to be replaced by reactionary folk whom would be considered troll on other forums. This site is dead, I only come on here to provide a bit of balance. Well I'm at it and seeing as this might be my last post here. Nominal prices will fall for 6 months by maybe 10% then all the falls will be in real terms only, sorry but we were wrong.....

Yes lower the salary, that is your answer.to everything public sector. Over training has hit many areas of the UK look at solicitors or barrister forums, it contractors , physios etc just about everything at the moment. The potential pay is factored in and explains the high numbers trained, it reflects the risk as in other industries. Also a lot of people that train I am sure simply aren't up to the job as well as others who do get the jobs. If you cut the pay a lot of the good teachers won't go into the career.

Yes lower the salary, that is your answer.to everything public sector. Over training has hit many areas of the UK look at solicitors or barrister forums, it contractors , physios etc just about everything at the moment. The potential pay is factored in and explains the high numbers trained, it reflects the risk as in other industries. Also a lot of people that train I am sure simply aren't up to the job as well as others who do get the jobs. If you cut the pay a lot of the good teachers won't go into the career.

You miss my point.

Agreed, that was my badly made point, who do you think really has control of the money supply the banks or a democratic government?

100% agreed. I am not arguing for excessive salaries, just against public sector bashing that is rife on here without any understanding of the reality.

If we could go back to the beginning maybe. But there are some services that people simply would not pay for yet are needed. Under such a system capitalism would become totally corrupt. You would have no rules and return to feudalism, nepitism would be rife. A true free market as an ideology is as flawed as a true socialist state. They are just opposite ends of the scale.

I think Bloo we are both arguing for the same thing, just in a different way. I would like to see a world where everyone who works is entitled to a reasonable standard of living, nothing special just to live, not work excessive hours and have time to enjoy their lives. I do not think this is unreasonable. If this means everyone having a cut then so be it,but likewise if this meant everyone having a rise this would be fine. FIAT money, bah! The important thing is there is some relative relationship for risk, reward etc in both the public and private sector. I do not believe in any conspiracy theories. I just think that the rich are playing a strong hand at the moment and manipulating the situation to their advantage and fear is getting the better of the rest of us in trying to work out our angle. Right, been interesting talking to you all. Bed time for me, early start at work in the morning.

I think this definition is a good starting point. A quote from John Lewis founder John Spedan Lewis (in the 1920s): "The present state of affairs is really a perversion of the proper working of capitalism. It is all wrong to have millionaires before you have ceased to have slums. Capitalism has done enormous good and suits human nature far too well to be given up as long as human nature remains the same. But the perversion has given us too unstable a society. Differences of reward must be large enough to induce people to do their best but the present differences are far too great. "If we do not find some way of correcting that perversion of capitalism, our society will break down. We shall find ourselves back in some form of government without the consent of the governed, some form of police state. "The dividends of some shareholders exceed their own highest hopes, hopes that may have been much too greedy, and the incomes of the more fortunate of the captains of industry are many times as great as would have caused the same persons to work just as hard and for just as many years if, instead of going into business, they had happened to become, say, lawyers or doctors. This is quite wrong."

The mess of the huge deficit. Tamara- agreed, I am being too simplistic, but in these general terms I suppose I am arguing that all wages should be relative. The public and private sector are all part of a market. The problem is they are both flawed markets, but to argue the private sector is less blighted by inherent unfairness and a fixed market is comical.

Sorry Bloo I do not agree. It may be bloated in some areas in terms of numbers. Salaries in some things need to be kept the same and go up with inflation as they should in the private sector. The reasons we are in this mess is not the size of public sector wages, Headteachers, doctors etc have always been relatively well paid. The reason is the the profits of the rich and bankers have been privatised and the losses socialised. Have we forgotten this already?! They are still paying the same bonuses, their salaries have gone through the roof! This is an obvious sideshow, it amazes me so many on here have fallen for it. It is so blatant, turning as many sections of society against each other as possible, benefit frauds, tax dodgers, the poor, the middle, the immigrants, the publc, the private sector. WAKE UP!

Thanks for this useful response, rather than some of the blind rage on here! I agree in some cases there is a need for some more accountability. In most cases I do not agree. I have seen both private and public sector organisations. I honestly believe there is far more accountability in the public sector ie governors of schools, trustees of hospitals. On the other hand private sector bosses with distant and removed shareholders are not very involved, I have seen more than one CEO vote himself a huge pay rise, this would not happen in the public sector, outside of the bbc it could not happen. Are you guys honestly blind to this, no. You are just looking after number one, which is your right, it is not however conducive to a modern and progressive society. (Think about it throughout history the best respected people were the leaders,doctors, warriors, teachers, it is natural they should be rewarded today)

Excellent response. The problem with this forum, is that many people on here are bitter about something in the world and come up with reasons why. this is how we define ourselves, against the 'other'. I guess Bloo, that like you I should hate the public sector, I have no dependents, pay for private health care/pension, etc. However, unless you are one of the people at the top then you and I are both being played by forces we do not fully understand. Some of these salaries do seem strange, but not all of them and the PMs salary is a so obviously played piece of propaganda.

I would love to do without their services (maybe not the IT contractors )You are forced to buy their services they hold monopolies in the same way that the public sector do. All jobs in today's society are interconnected public versus private is irrelevent. Good to see you have fallen for the hype.

More media nonsense. The effect of cutting rewards at the top will mean a lack of incentive to perform. There are a number of immeasurably less important jobs that pay more than many of these doctors, headteachers etc. I know so many IT contractors, bankers, lawyers that add little to society and get paid a lot more than any in the public sector. This program and most of what is in the media on this subject is so blindly and obviously bias it just suits many of the people on this boards opinion so they choose to like this particularly piece of propaganda. I work as an IT contractor and get paid more than the average secondary Headteacher (around 75k), is this fair, not really in my opinion. I left teaching because the pay was crap and the stress at the top would no way = the stress. This business of earning more than the PM is a farce when the PM makes more on renting out his house than he does for his salary. Boris Johnson would dismiss this salary as 'chicken feed.' This is the next phase in the super rich clamping down on the middle and the poor classes. We are fighting against each other due to this latest clever effort. We need to be fighting for higher living standards for all private and public sector. Stop offshoring jobs, stop letting the bankers rob from us and reinvest in green technology and manufacturing to help a sick economy grow again. Anything else is smoke and mirrors. DY

Hi all Caved in slightly to the missus and decided to buy. Not willing to get any old property, the one we have an offer in on needs a lot of work and is available at a 2003 price, if it falls through I am cool with that and will not put in an offer on something else, anyway... The house is a deceased estate, they have lost the deeds. This means that they have been given a possessory title. Our solicitor tells me this is all ok and that they will need to take out an indemnity policy to counteract the risk. Does anyone have any experience of this? It all seems a bit strange to me but everyone I speak to tells me this is rare but nothing to worry about?! I hand it over to the combined wisdom of the forum... Thanks in advance. DY

What will printing on this scale mean for house prices? Will we see nominal rises on the back of this? As we know those in weimar with debts that were fixed did rather well. When I see things like this it encourages me to buy and fix, despite all the other noise to the contrary. I think better to have a house (with some land and good security) and take a chance than risk my savings and have nothing to even defend. Anecdotally, mortgage rates seem to be getting even lower, and houses are still selling quick here. Haven't decided on this yet, but 6 years of waiting is enough!