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Sandwiches33

IFS: Growth in UK living standards worst in 60 years

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Well it was a hell of a risk for a country with minimal natural resources to destroy our manufacturing and agriculture to go all in on banking. 

Whilst we still pay farmers to grow nothing and punish our manufacturing with excessive regulations banking is in the process of being replaced by an app.

We are truly ******ed.

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There's the UK future problems.

National governments are getting a pass from the bond market so they ca work through their debt and return to growth.

At some point the debt markets will look for growth, not find it, then reprice debt.

The US is showing pretty good grwoth, very good employment, but slow wage growth.

Wage growth might change as Trump is prepared to take on China's dumping.

The EU averages out OK, mainly down to German/NorthEurope being productive.

The UK is terrible. Too much debt - private and public.

I think Hammond knows theyve got to drive down the deficit and starting running surpluses. Hence, benefit cuts for non Nationals and tax credit reforms.

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59 minutes ago, spyguy said:

The UK is terrible. Too much debt - private and public.

I think Hammond knows theyve got to drive down the deficit and starting running surpluses. Hence, benefit cuts for non Nationals and tax credit reforms.

Your assuming Hammond wants to solve the problems? He probably doesn't care less. Driving the deficit down won't fix 30-40 years of the UK having it's industries ran down into oblivion and being transformed into a 70%+ service based economy. 

In addition private banks create the majority of our money supply, which is mostly pumped into mortgage lending and stock prices. Unless your on the asset inflation boat, forget it.

The real economy hasn't mattered for a long time. Until people realise that nothing will change. 

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3 hours ago, Sandwiches33 said:

Would indicate recession is imminent except that Carney found £170bn in the pocket of Mervo's cricket whites last August (on display at the Bank for visiting notaries) and gifted his banking chums with it in the time-honoured fashion.

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22 minutes ago, Unbowed said:

Interesting that it says GROWTH CONFIDENCE in living standards is the worse for sixty years. So it is still growth then.

 

 

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It's a Gordon Brown sort of growth.  

If the article actually gave some proper figures about real living standards including housing then it's more than likely to have been shrinking statistically and not growing - and has been for years if not decades.

They just swap seats when they get in power - not much else changes.

 

 

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I like that!. I hadn't seen Gordon Zero % rise speech before.

I've always thought that he was living proof, that Britain isn't the meritocracy that New Labour promised.

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I think Gordon was a scapegoat for the crisis as Blair/New Liebour was too unpalatable for the masses. Fast forward to Camoron and Osborne who become unpalatable again and now we  have May (who wanted remain) and spreadsheet filthy rich Phil.

They are all in it together. 

Will things improve? Don't be silly:lol:

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7 minutes ago, Assume The Opposite said:

I think Gordon was a scapegoat for the crisis as Blair/New Liebour was too unpalatable for the masses. Fast forward to Camoron and Osborne who become unpalatable again and now we  have May (who wanted remain) and spreadsheet filthy rich Phil.

They are all in it together. 

Will things improve? Don't be silly:lol:

 

Of course things will improve.....but not for everyone.;)

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45 minutes ago, billybong said:

It's a Gordon Brown sort of growth.  

If the article actually gave some proper figures about real living standards including housing then it's more than likely to have been shrinking statistically and not growing - and has been for years if not decades.

They just swap seats when they get in power - not much else changes.

 

 

'A zero percent rise in 2013/14' lol!

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2 hours ago, billybong said:

It's a Gordon Brown sort of growth.  

If the article actually gave some proper figures about real living standards including housing then it's more than likely to have been shrinking statistically and not growing - and has been for years if not decades.

They just swap seats when they get in power - not much else changes.

 

 

Good point.  How do we compare the past with today?  Obviously someone in a small house today is better off than someone else in a bigger house 120 years ago who was starving *.  However how do you compare someone today in a small house with nice electronics with someone in the 1970s with just a TV and radio and not much else?  I would happily have 1997 technology and house prices again**.

(*Please don't say no one was starving it was an example).

**Of course some countries have affordable housing and modern technology there should not be the need for such a choice and 1970s technology looked amazing to people who were born before 1930.

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2 hours ago, iamnumerate said:

Good point.  How do we compare the past with today?  Obviously someone in a small house today is better off than someone else in a bigger house 120 years ago who was starving *.  However how do you compare someone today in a small house with nice electronics with someone in the 1970s with just a TV and radio and not much else?  I would happily have 1997 technology and house prices again**.

(*Please don't say no one was starving it was an example).

**Of course some countries have affordable housing and modern technology there should not be the need for such a choice and 1970s technology looked amazing to people who were born before 1930.

Some 1970s technology still looks amazing, even in 2017. ;)

1968-1971-lamborghini-miura-p400-s-679_5

 

 

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18 hours ago, iamnumerate said:

Good point.  How do we compare the past with today?  Obviously someone in a small house today is better off than someone else in a bigger house 120 years ago who was starving *.  However how do you compare someone today in a small house with nice electronics with someone in the 1970s with just a TV and radio and not much else?  I would happily have 1997 technology and house prices again**.

(*Please don't say no one was starving it was an example).

**Of course some countries have affordable housing and modern technology there should not be the need for such a choice and 1970s technology looked amazing to people who were born before 1930.

My highlight.

Indeed - and those reduced levels of congestion.  Congestion was still bad then but was just about tolerable compared to these days.  Ideally on the congestion issue alone it would be nice to go back a few years more.

Apart from the general pedestrian and vehicular traffic these days you can hardly park your car anywhere even in the so called suburbs.

 

 

 

Edited by billybong

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16 hours ago, zugzwang said:

Some 1970s technology still looks amazing, even in 2017. ;)

1968-1971-lamborghini-miura-p400-s-679_5

 

 

One of the most beautiful cars ever made.

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A couple of days ago boots announced 400 job losses and ford are to cut 1100. These are only the big numbers we hear about too I do often wonder what is really going on. I see my linked in full of folk looking for work.

 

Interesting point in the article the bloke says "round here 90% of jobs are minimum wage" 

 

yet the average house price nears 300k. It is mental.

 

BTW cars looked so much nicer before all those pesky pedestrian collision rules and aerodynamics!  I think Ian callum said there is hardly anything you are allowed to do with the front of a car now with all the restrictions in place. I wouldn't say no to an F-type though :)

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