Monday, July 25, 2011

Comments………

Families face a fall in living standards which will be 'as bad as the 1970s'

Families are facing a crash in living standards as severe as the 1970s, a leading economist has warned. A grim cocktail of soaring inflation, tax rises and stagnant wage growth will put a huge strain on household spending power, according to the Institute of Fiscal Studies.

Posted by mark @ 11:33 AM (3772 views)
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3 thoughts on “Comments………

  • Danger sign

    The rising cost of living stokes fears that standards arefalling across the western world. Ben Hunt suggests there is cause for concern, but policymakers should address the chronic supply-side weaknesses of economies first.

    Harold Macmillan, then Britain’s prime minister, quipped in 1957 that the British public had “never had it so good”. He was referring to the economic growth and rising living standards in the years following the second world war.

    Fast-forward to today, however, and the contrast could not be more stark. The message coming from the top of society seems to be “you’ve never had it so bad”.

    Full article including productivity and profit margin graphs @ http://www.fundweb.co.uk/fund-strategy/issues/25th-july-2011/danger-sign/1034819.article

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  • The pound is devaluing fast against other currencies (like NZ dollar). Cost of living therefore rises (as planned by Mervyn).

    India has chosen to prrotect its currency by hiking IRs (today). The MPC have decided to sit on their hands. (do they play cards at their 2 day meetings or spend all the time argueing what wine to have with their meals?).

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  • The perfect recipe for house prices to continue going up forever, surely?

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