We're Fucked

[Borin' Baggie]

Haven’t you just confirmed what I posted?

They want a rise equivalent to cumulative RPI, I have no idea where you get this “average worker” bollocks from. The “average worker” has also seen a real terms cut in pay. And if you want to give junior doctors - some who’re already exceptionally well paid - another 30% where on Earth will that come from? Borrowing at 6%? Yet more taxation?

https://www.theguardian.com/business/202...-thinktank

ONS average weekly earnings data. 26% drop for junior doctors Vs 1% for adjusted weekly earnings data compared with December 2009. It's absolutely disingenuous to compare the two situations in the way you are. Even the Resolution Foundation are saying it's flat for the average worker so I have absolutely no idea why anyone arguing in good faith would compare the two.

As for taxes, yes taxes need to go up because the Tories have absolutely fucked it and left an economy that can't function without taxes going up, unfortunately. Until there's growth there's no capacity for taxes not to go up as Treasury reciepts are flat in real terms (COVID aside) despite the tax burden increasing.

[Derek Hardballs]

So when nurses, doctors, teachers and others leave for another country and better money or just decide it’s easier to stack shelves in Asda who are going to do those jobs? Rather than throw their libertarian rattles out the pram perhaps they can think about the consequences of trying to depress wages for those who genuinely make a difference in this country. They have no answers other than to privatise, deregulate and offer less services. A race to the bottom for anyone who doesn’t put profit first, second and third as their shallow, dull and vacuous outlook on life.

I appreciate that some seem to want millions of people to be poor worker bees for the sake of the super rich to maintain and increase their personal wealth.

[Derek Hardballs]

[CaptainFantastico]

So when nurses, doctors, teachers and others leave for another country and better money or just decide it’s easier to stack shelves in Asda who are going to do those jobs? Rather than throw their libertarian rattles out the pram perhaps they can think about the consequences of trying to depress wages for those who genuinely make a difference in this country. They have no answers other than to privatise, deregulate and offer less services. A race to the bottom for anyone who doesn’t put profit first, second and third as their shallow, dull and vacuous outlook on life.

I appreciate that some seem to want millions of people to be poor worker bees for the sake of the super rich to maintain and increase their personal wealth.

This is it. And exactly what had been happening for a long time now. Pay peanuts....get

[Derek Hardballs]

High pay causes inflation

[CaptainFantastico]

Interesting to see them on the verge of ignoring the independent pay review bodies. Who basically are therefore pretty much worthless as an entity

[Derek Hardballs]

From Peston and the deputy of the IMF…

IMF's deputy director @GitaGopinathsaid yesterday. "If inflation is to fall quickly, firms must allow their profit margins—which have shot up during the past two years—to decline and absorb some of the expected rise in labour costs.” She was talking about the eurozone. Why would the analysis not apply to UK? Big question for the prime minister and chancellor

I assume Proth thinks this is unrealistic

[Protheroe]

The IMF would have been better off urging governments not to deficit finance the wholesale bank bailouts, QE, indiscriminate Covid support and indiscriminate energy price support.

But what can you expect of an organisation that's been wrong about pretty much everything since its inception?

That's not to say that there's not huge opportunism in pricing at the moment - it's the reason my business is so busy stamping on it.

As usual the suspects the government has identified - like the supermarkets - are largely innocent.