Jump to content
House Price Crash Forum
Sign in to follow this  
TheCountOfNowhere

Recession Prompted 'unprecedented' Fall In Wages

Recommended Posts

www.bbc.co.uk/news/business-22860320

"Wages have fallen more in real terms during the current economic downturn than ever before, according to a report."

The wage-less recovery, or perhaps the less-wage recovery,

Share this post


Link to post
Share on other sites

www.bbc.co.uk/news/business-22860320

"Wages have fallen more in real terms during the current economic downturn than ever before, according to a report."

The wage-less recovery, or perhaps the less-wage recovery,

It points to the type of economy the UK is heading for. Low wage,low productivity and state dependency. In contrast the EZ countries are getting rid of unproductive jobs and are being forced into higher productivity and higher skilled jobs. Unlike the UK, they have nowhere else to go.

Share this post


Link to post
Share on other sites

It points to the type of economy the UK is heading for. Low wage,low productivity and state dependency. In contrast the EZ countries are getting rid of unproductive jobs and are being forced into higher productivity and higher skilled jobs. Unlike the UK, they have nowhere else to go.

:lol:

Share this post


Link to post
Share on other sites

It points to the type of economy the UK is heading for. Low wage,low productivity and state dependency. In contrast the EZ countries are getting rid of unproductive jobs and are being forced into higher productivity and higher skilled jobs. Unlike the UK, they have nowhere else to go.

I couldn't agree with you more on that one, I notice that the eastern European immigrants seem much more integrated and hard working in ROI possibly due to the fact that there is no tax credit gravy train.

Share this post


Link to post
Share on other sites

It points to the type of economy the UK is heading for. Low wage,low productivity and state dependency. In contrast the EZ countries are getting rid of unproductive jobs and are being forced into higher productivity and higher skilled jobs. Unlike the UK, they have nowhere else to go.

The rate of inflation is not so great.....that must help. ;)

http://www.tradingeconomics.com/france/inflation-cpi

Share this post


Link to post
Share on other sites

You must just love those UK house prices.

Europe is all sunshine and lollipops

(Don't mention the high youth unemployment. Not that you ever cared about the younger generation)

Share this post


Link to post
Share on other sites

'statistically' my wages grew greater than CPI last year for the first time in years, I truly believe it's because I left the UK.

Do I feel richer? no.

When people feel richer and see more €£$ in their account then they will spend more into the real economy and a recovery will take place. As consumers are already over leveraged they will not be able to borrow the €£$ to make themselves feel richer, the only possible place that money is going to come from now seems to be tax cuts. With governments in deficit it will be interesting to watch.

Share this post


Link to post
Share on other sites

Europe is all sunshine and lollipops

(Don't mention the high youth unemployment. Not that you ever cared about the younger generation)

High unemployment is part of the solution. High (fake) employment is not. If you look back at any recession in the past, real recovery can only occur when jobs that no longer produce anything are lost an replaced by jobs that do. The UK is not doing that, other countries are.

Share this post


Link to post
Share on other sites

Europe is all sunshine and lollipops

(Don't mention the high youth unemployment. Not that you ever cared about the younger generation)

There is also the arrears issue:

http://www.independent.ie/business/personal-finance/property-mortgages/mortgage-arrears-to-rise-for-another-year-29334548.html

Irish arrears > 3 months are around 15% of the total mortgages issued. :o

Share this post


Link to post
Share on other sites

'statistically' my wages grew greater than CPI last year for the first time in years, I truly believe it's because I left the UK.

Do I feel richer? no.

My income dropped 20% last year.

My child was born.

Do I feel richer.

Yes.

Only bankers and idiots measure riches in monetary terms.

Share this post


Link to post
Share on other sites

At least in these difficult times of falling wages the government didn't do anything stupid like devaluing the currency and print money to deliberately generate inflation, or worse still encourage people into handing over their hard earned cash/savings to the banks buy over-priced depreciating assets or just spank the money "cause it's getting no interest in the bank" :blink:

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

My income dropped 20% last year.

My child was born.

Do I feel richer.

Yes.

Only bankers and idiots measure riches in monetary terms.

So freedom from being a wage slave and owning (outright) the roof over your head is not a worthy form of riches?

I think I understand your sentiment and I agree with it, but I think your last statement is inaccurate.

Edited by Sine270

Share this post


Link to post
Share on other sites

I couldn't agree with you more on that one, I notice that the eastern European immigrants seem much more integrated and hard working in ROI possibly due to the fact that there is no tax credit gravy train.

Probably more to do with the fact the dole is nearly £200 a week plus housing benefit.

Share this post


Link to post
Share on other sites

High unemployment is part of the solution. High (fake) employment is not. If you look back at any recession in the past, real recovery can only occur when jobs that no longer produce anything are lost an replaced by jobs that do. The UK is not doing that, other countries are.

You seem to be mistaking 'pulling up the ladder behind you' for 'correction'.

Are you alright Jack?

Share this post


Link to post
Share on other sites

So freedom from being a wage slave and owning (outright) the roof over your head is not a worthy form of riches?

Owning no house and being free to move to anywhere in the world and avoid state oppression would be a better richness to posses.

Share this post


Link to post
Share on other sites

I couldn't agree with you more on that one, I notice that the eastern European immigrants seem much more integrated and hard working in ROI possibly due to the fact that there is no tax credit gravy train.

more likely, they are far less encumbered with debt and can take the lower paid jobs.

A person with 20K on the cards and 150k mortgage cant really consider working as a cleaner.

Share this post


Link to post
Share on other sites

Owning no house and being free to move to anywhere in the world and avoid state oppression would be a better richness to posses.

I hear you on that one. We just got outbid on a house (long story), but we pushed th other buyer up by 20k more than we would have paid. If we had a winning bid then we would have had to retract it....Anyway its just a silly and expensive game I play.

I really appreciate the cash in the bank and the option of moving around, there is always another house you can rent + renting is cheap here!

If we had bought a property, then we would have lost lots of opportunities to buy a better house + we would be skint resulting in further lost opportunities to save money such as getting more economical transport.

Share this post


Link to post
Share on other sites

I hear you on that one. We just got outbid on a house (long story), but we pushed th other buyer up by 20k more than we would have paid. If we had a winning bid then we would have had to retract it....Anyway its just a silly and expensive game I play.

I really appreciate the cash in the bank and the option of moving around, there is always another house you can rent + renting is cheap here!

If we had bought a property, then we would have lost lots of opportunities to buy a better house + we would be skint resulting in further lost opportunities to save money such as getting more economical transport.

Well put. Especially in the current job market/economic climate being in a position to move somewhere else, even out of the country, at relatively short notice, is worth every penny it costs you in rent,

Share this post


Link to post
Share on other sites

Um.

Bank bonuses

2012 - £13 billion

2011 - £14 billion

2010 - £7 billion

2009 - £6 billion

It's not all bad news in the UK.

At least we know the Q.E. money was put to good use.

Bank bonuses

2018 - £0 billion

Share this post


Link to post
Share on other sites

I couldn't agree with you more on that one, I notice that the eastern European immigrants seem much more integrated and hard working in ROI possibly due to the fact that there is no tax credit gravy train.

I'm confused. According to the highly reputable Daily Mail the whole world is coming to the UK.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 246 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.