Jump to content
House Price Crash Forum
Up the spout

UK to sink to the bottom of OECD wage growth index in 2018

Recommended Posts

Id not give any forecast by an economist the time of day.

This sort of cr.p needs to incldue the previous years forecasts and actual figures.

Junk figures. Make work for macro economists.

Share this post


Link to post
Share on other sites
1 hour ago, spyguy said:

Id not give any forecast by an economist the time of day.

This sort of cr.p needs to incldue the previous years forecasts and actual figures.

Junk figures. Make work for macro economists.

Indeed.  Plus "the we haven't left yet" stuff.  Please, not another year of project remorse.

Share this post


Link to post
Share on other sites

Forgetting for a moment about dopey economists and haven't-left. I don't know about you guys but that prediction "feels true".  How can it not be true considering how things are. Everywhere I go I see non-productive nothingness and general apathy. I've been to a few other countries recently and the atmosphere is much more like "we might be struggling but we're doing what we can to make things better." Embarrassing as it is to be outperformed by Latvia (example) I think it's 100% true.

Share this post


Link to post
Share on other sites
Just now, mathschoc said:

Meanwhile the FTSE has reached another record high.

Shameful and embarrassing 

Not unexpected.

The UKs private sector, productive companies are pretty good.

The UKs low productivity is not down to the likes of the FTSe or FTSE 250 compnies.

Its the hordes of tax creditors and pointless public sector orgs.

Share this post


Link to post
Share on other sites

It wouldn't be a problem anyway if key things like housing weren't so overpriced. Wages not going up is not a problem, it's other things not going down (and the ever-increasing need to do more and more travelling).

Share this post


Link to post
Share on other sites
1 minute ago, fru-gal said:

Yup. Just did a calculation and a family with 4 kids, working minimum wage would be on the same after tax income as someone on £60k but with more free time and less stressed. So landlords are getting subsidised by LHA and low income/part-time workers who have kids get heavily subsidised by tax credits and generous housing benefit plus all sorts of satellite benefits. Instead of trying to get the cost of living down, the Government have chosen a policy of increasing benefits so that the cost of living goes up for everyone not on benefits so those on welfare and landlords don't lose out (both vote winners). It's a catch-22 that the cost of living rises every year since benefits push it up and landlords raise prices add infinitum. It's actually pretty pointless doing a well paid job these days if you have kids as you are not only paying more tax so others have a better income than you on less pay/hours but you will be more stressed. No wonder productivity is so bad in this country, there must be fewer and fewer people paying into the pot every year to feed more and more who take out.

Not the gov but Brown.

On gaining power in 2010 the coalition should have have shutdown tax credits over 5 years - increase hours by 5h/y. It would have been fixed in 5 years.

Both Brown, and his credit boom and spending boom, and the following governments, in failing to reduce spending, show how shit governments are at addressing things.

We need less government, not more.

Share this post


Link to post
Share on other sites
47 minutes ago, Riedquat said:

It wouldn't be a problem anyway if key things like housing weren't so overpriced. Wages not going up is not a problem, it's other things not going down (and the ever-increasing need to do more and more travelling).

Yes, particularly when we are in competition with the rest of the world, we want the majority to be able to afford all we have to offer in the way of exports, not just the better off with the money to spare.;)

Share this post


Link to post
Share on other sites

On top of the Christmas on plastic hangover going into the New Year.

Quote

One in four families will start 2018 with a monster credit card bill. Half of those with credit card debts believe they will still be paying it off next Christmas. Meanwhile one in ten are still grappling with their bills from Christmas 2016. The findings come amid fears that interest rate hikes next year could plunge thousands of families into financial crisis. thisismoney

 

Share this post


Link to post
Share on other sites
4 minutes ago, rollover said:

On top of the Christmas on plastic hangover going into the New Year.

 

I would suggest can't pay won't pay......debt keeps businesses solvent, the business doesn't care if the debt is paid or not.....all they require is that the customer has ready access to it.;)

Share this post


Link to post
Share on other sites
3 hours ago, Funn3r said:

Everywhere I go I see non-productive nothingness and general apathy. I've been to a few other countries recently and the atmosphere is much more like "we might be struggling but we're doing what we can to make things better." Embarrassing as it is to be outperformed by Latvia (example) I think it's 100% true.

That's my experience.  I've been out of the UK for over 15 months now (in Thailand). There's been a complete decoupling of these two notions: 1) hard work...and 2) wealth.  These two things are utterly unrelated in the UK.  Unearned gains in house-prices.  Unearned rent-paid, welfare lifestyle for the lazy shits who don't work.  The only aspiration I saw in the UK was yet another example of unfairness: stunning leverage opportunities for eastern Europeans not afforded to indigenous younger people: the ability (for eastern Europeans) to live 10-to-a-flat in order to work in a factory for 5 years in the UK to completely pay off a house in their home country.  No chance for the indigenous young to do that in the UK.  Nothing makes sense.  No aspirational motivators when everything feels unearned and unfair.  No level playing field.  The youth of the UK are sleep-walking into a nothing-life of living at home with their parents until 35 or stretching themselves to the limits as a couple buying some dingy apartment and having one kid (or no kids).  Sad life of limitation where getting by = success.  Eff that.

Edited by canbuywontbuy

Share this post


Link to post
Share on other sites
2 hours ago, Riedquat said:

It wouldn't be a problem anyway if key things like housing weren't so overpriced. Wages not going up is not a problem, it's other things not going down (and the ever-increasing need to do more and more travelling).

I agree with all of this but the London centric nature of our economy makes the last point particularly true for many in work.  Traveling anywhere in the UK is slow and expensive.  With interest rates so low it would have been sensible for the Government to really improve infrastructure not sod around with London based and very expensive rail schemes like Crossrail and HS2.

Share this post


Link to post
Share on other sites
4 minutes ago, canbuywontbuy said:

That's my experience.  I've been out of the UK for over 15 months now (in Thailand). There's been a complete decoupling of these two notions: 1) hard work...and 2) wealth.  These two things are utterly unrelated in the UK.  Unearned gains in house-prices.  Unearned rent-paid, welfare lifestyle for the lazy shits who don't work.  The only aspiration I saw in the UK was yet another example of unfairness: stunning leverage opportunities for eastern Europeans not afford to indigenous younger people: the ability to live 10-to-a-flat in order to work in a factor for 5 years in the UK to utterly pay off a house in their home country.  No chance for the indigenous young to do that in the UK.  Nothing makes sense.  No aspirational motivators when everything feels unearned and unfair.  No level playing field. 

I'm sort-of in agreement, kinda, although I do see things differently. For starters one of my jobs is to destroy jobs - if we can find a way to eliminate an expensive UK head  (preferably by automating it but if not then offshoring it) then that is what we will do, super ruthlessly. So it would be hypocritical for me to agree that someone who doesn't work is necessarily a lazy shit, I mean when I'm helping take away the jobs. We won't resolve our problems by creating fake jobs digging holes and filling them in again.

The real reason we are in such a mess and everyone un-motivated is, as we all know, years of bad economic policy sending house prices and other rich peoples' assets into a stratospheric nay intergalactic orbit. If I was to confront a benefits person and say hey you lazy shit why aren't you doing something instead of on the sofa watching sky sports they might give me an uncomfortable answer... "why should I what's the point?" Or perhaps "OK but there has to be something in it for me, I will promise to work hard if that lets me buy a house." And not sure I would know what to say to either of those... 

Of course let's not forget the other type of person who sits on sofas all day doing nothing productive... someone who just happens to own a lot of assets and is well able to live off the divi (gratingly I do know someone like this and she has non-stop cruises etc.)

Share this post


Link to post
Share on other sites

Laziness isnt good,  but hardwork, in itself,  has never been rewarded, it is seen as a resource to exploit. In victorian england one third of women worked in domestic service. Equivalent of 40 to 50 pounds a week in todays money, plus room and board, in return for a 16 hour day of drudgery ,6 and a half days a week. They got nothing out of it except avoiding starvation or the workhouse. Looked down upon and treated arbitarily by their supposed betters. The same thing with poor people in the third world today. 

Share this post


Link to post
Share on other sites

Could it be people are beginning to suss it out?;)

 

Edit to say found this quoted by 200p.

Quote

 

1. Be indifferent in the face of money.

People don’t understand the function of money and they are associating with it too much excitement. Money should be treated as a commodity.

2. Define correctly the assets and liabilities.

A cornerstone in establishing wealth is the correct definition of assets and liabilities. Poor people incur liabilities to acquire assets, while wealthy people avoid liability when assets accumulate. Trader advises not to make commitments, to live according to your own capabilities and to acquire assets for cash.

3. Create your own infrastructure.

Start with something small, build your business from scratch. The basis here is saving and creating mechanisms for generating revenue, the accumulation of assets without incurring liabilities. Those assets will be also infrastructure in retirement.

4. Travel, get in perspective, find your own place.

When you reach rewarding level, it is worthy it to take a trip around the world for a year or two. It will be great opportunity to get knowledge about other cultures and countries, to expand your horizons as well as to see how certain things can be solved differently from the methods you know from your ‘neighborhood’.

5. Understand that the risk is relative, and not two-dimensional.

People badly perceive risk as a multidimensional phenomenon. They think that, the greater the risk to undertake the greater may be loss or gain. But in fact, the risk depends on many factors and can be largely, intentionally shaped.

6. Look for alternative education.

The modern educational system does not teach how to succeed and acquire wealth. It is not geared to the success of the individual. The second part of the problem are parents who are guided by emotions. They want to protect their children by finding them safe but unambitious job.

7. Learn to value your time.

People work for nothing. They exchange their time without receiving anything in return. They get a paycheck, barely enough to pay their obligations and to survive to the end of the month. You need to change it and value your time.

8. Get rid of the smartphone.

If you value your time, you should get rid of the smartphone in order to increase your effectiveness. Social networks and whole bunch of useless applications are distracting you from your real purpose.

9. The mainstream media are useless. Don’t use them.

Listening to the mainstream media is for the trader meaningless. The task of the trader is predicting the future, and the media reflect on what was in the past. Moreover, they all have to please advertisers rather than to get you necessary knowledge.

10. Select a model to follow that suits your purpose.

Currently, the media are promoting celebrities who supposed to be role models, but don’t know for what reason would anyone follow them. It is worth to look for role model who have achieved something.

 

 

Edited by winkie

Share this post


Link to post
Share on other sites
14 hours ago, Up the spout said:

UK to come last of 32 wealthy nations for wages

"British workers are expected to see their earnings decrease by 0.7% in 2018"

And we haven't even left, yet..

Let’s be honest our economy is a joke! Nothing to do with Brexit. Follow the bread crumbs from the 2007 crash and it was heading downhill regardless.. just a convenient excuse when it does collapse..

if anything I would say mass immigration is more the cause of the problem with lower wages and higher house prices leading to lower disposable income..  if there was no immigration house prices/rent would not be as high as they are regardless of loose credit.. they would be high, but not this high as there would be 3 million less people 

Edited by macca13

Share this post


Link to post
Share on other sites
54 minutes ago, Fence said:

From Anton Kreil on Youtube.

Ta.....watched a bit of it, watch the rest later, that guy whoever he is talks much sense......things many of us already do without always realising it.;)

Share this post


Link to post
Share on other sites
6 hours ago, canbuywontbuy said:

The youth of the UK are sleep-walking into a nothing-life of living at home with their parents until 35 or stretching themselves to the limits as a couple buying some dingy apartment and having one kid (or no kids).  Sad life of limitation where getting by = success.  Eff that.

I don't think the youth of the UK are "sleepwalking" into anything. They are fully aware that they are being shafted and they are not afraid to vote for politicians who offer an alternative - hence the result of the 2017 general election.

Share this post


Link to post
Share on other sites
1 hour ago, Slimline said:

Is it wrong that I like the sound of this? Surely lower wages is deflationary so lower asset prices?

Agreed. Deflation is only a problem for people who took on huge debts assuming asset prices and income streams to pay off debt would both increase in nominal terms.

Share this post


Link to post
Share on other sites
2 hours ago, Dorkins said:

I don't think the youth of the UK are "sleepwalking" into anything. They are fully aware that they are being shafted and they are not afraid to vote for politicians who offer an alternative - hence the result of the 2017 general election.

Indeed. And when the youth of today try to change things the only way possible by voting for the only other party with a realistic chance of power, they're called idiots anyway.

The political system in the UK is just broken. 

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...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 407 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.