Wednesday, January 14, 2009
Double digit wage inflation required for debts
"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.