UK wages remain stagnant while Inflation rises to 5%

It seems the Uk is going to be suffering its biggest fall in living standards since the 1920's.

ndeed, the Bank governor noted that UK wages were stagnant, and - coupled with high inflation - this had led to the longest decline in the real value of take-home pay in the UK since the 1920s.

www.bbc.co.uk...
Tough times ahead folks, we are really being being squeezed here and with up to a million Jobs to go in both private and public sectors one fear that we will be going back to a Victorian age. No more middle class, just the elites and the workers.

Cameron, Clegg and Osborne all went to private schools with fees now higher than the average annual wage. Half the cabinet went to fee-paying schools - versus only 7% of the country - as did a third of all MPs.

After falling steadily for decades, the number of public school MPs is on the rise once more, 20 of them from Eton alone - five more MPs than the previous Parliament.

Top Labour politicians are less posh than the Tories or the Lib Dems but they are increasingly middle-class, Oxbridge-educated and have done nothing but politics.

Labour Leader Ed Miliband graduated in philosophy, politics and economics (PPE) from Oxford and was pretty quickly working for Gordon Brown. His brother David also did PPE at Oxford and was soon advising Tony Blair.

New shadow chancellor Ed Balls also went to Oxford after private school to do - you guessed it - PPE. It was there that he met his wife, the new shadow home secretary Yvette Cooper, who also happened to be doing PPE as well.

Edit to add Public schools in the UK are actually private schools fee paying schools a semantic trick played by the upper classes.

www.bbc.co.uk...

i love being poor

Don't ya just LOVE the uk!

So far we don't have hyper inflation/stagnation of the 70's or the equivalent run away interest rates of the 90s.. let alone anything like the 20s...

I did like (and agree with) todays front page of the Mirror and their piddle take of Osbourne taking the place of Michael Fish's famous, storm! there'll be no storm.. the night before the Hurricane., in reference to a double dip.

I do think we are looking at a double dip and the data is being smudged to avoid showing where we are heading, it is all about confidence in the future, which is really non existent in the population and is now showing in the media.

The worry is where do we go from here?

shoplifting can be quite a cool trick when your broke, it works best if your not on drugs and able to look like a good citezen. just keep out of the big stores as they generally have tighter security as i wouldnt want anyone to get arrested.

top 5 things to steal for survival-

cheese
meat
fish
wine
toilet paper from public toilets

with this info you should never go without again

reply to post by lewman


So we look forward to a life of poverty or criminality, not exactly what i had planned for in my future.

Poverty and "criminality" go hand in hand. I just hope that people choose to steal from big company's rather then other poor working folk. I look forward to buying cheap meat from my local tealeaf

that's exactly the playbook the FED/Treas/CorpRat's, over here in the U.S. are using...

making job openings scarce, so the working age population will be glad to work for marginal wage...
but over here the issue of reducing Corp. tax rates has to be enacted first--- only then will the
job market start to wake up from its hibernation.
I think the US is aiming to have the tax rates for the mega-nationals on par with the UK rate...
after all it's the North Atlantic Empire alliance isn't it


~~~~~~~~~~~~~here's some clips that augment your thread ~~~~~~~~~~~~~~~~~``

Inflation Is So Much Worse Than We're Told
Tuesday, January 25, 2011, 10:00 am, by cmartenson
Inflation is actually much higher than what the BLS claims it is; something that purchasers of college tuition, pharmaceuticals, or health insurance know all too well.

To give the BLS some credit, they must try and estimate a single rate of inflation that applies to everyone equally. But that is a completely impossible task. An octogenarian living in Seattle on a meager pension and taking lots of prescription medications will have a totally different inflation experience than an 18 year old living in their parent's basement eating Ramen noodles

Why This is Important
As a refresher, inflation in the US is calculated by the Bureau of Labor Statistics (BLS) in a measure called the Consumer Price Index, or CPI. It is used by the Federal Reserve to justify its money printing policies, by the federal government to calculate cost-of-living adjustments (COLA) for the entitlement programs (e.g., Social Security), and to set the interest rate on inflation-adjusted bonds known as TIPS. Indirectly, the CPI influences interest rates, the stock market, and a host of salary and pension negotiations each year. If the CPI is too low, even by a single percent, the impact is in hundreds of billions of dollars.

Bank of England chief Mervyn King:
standard of living to plunge at fastest rate since 1920s
Households face the most dramatic squeeze in living standards since the 1920s, the Governor of the Bank of England warned, as he reacted to the shock disclosure that the economy was shrinking again.

By Robert Winnett, Deputy Political Editor 9:41PM GMT 25 Jan 2011
855 Comments

Families will see their disposable income eaten up as they “pay the inevitable price” for the financial crisis, Mervyn King warned.

With wages failing to keep pace with rising inflation, workers’ take- home pay will end the year worth the same as in 2005 — the most prolonged fall in living standards for more than 80 years, he claimed.

The UK govt doesn't stop for half a millisecond to think about the consequences of their actions.

The price of car insurance (mandatory) is extreemly high, disgustingly so for young people. So many drive illegally because they can't afford it...the government then lets the price of car insurance rise aorund the country leading to nothing but MORE people not beign able to afford it and so drive illegally.

They continually take more of our wages...and wodner why at the same time the amount of people hiding their earnings seem to rise.

They raise the price of going to university and wonder why people are aginst the hyppocritical actions of asking someone to pay more for going to university than they did.

There is far too much apathy in the government...they tax the life out of us and spend it on things the public simply don't want...

It comes as no surprise minimum wage wouldn't rise with inflation because they didn't stop for two seconds and think about how many people are barely getting by as it is.

Oh how the other half live... lets see David Cameron live on my minimum wage

Something like this is going to be the final straw that broke the camels back soon.

This is disgusting, I don't understand why the government doesn't think.

Crime will go up tenfold.

Riots soon anyone?

reply to post by SearchLightsInc


there are scarcely any small companies left thanks to tesco's express and sainsburys local, these companies are the real criminals but they are far from poor and rarely have to pay any consequences even when selling things below cost price.
i suppose the butchers and bakers dont deliver but they do nicer steaks and bread.

reply to post by lewman


Tis companys such as tesco's and sainburys i'm reffering to
I'd never want my local shop to be robbed purly because it destroys local bussiness. However, places like tesco's, i'd ram raid them anytime

reply to post by SearchLightsInc


i would agree completely, plus i have no problems with the asians owning all the off licences etc... as they work all day selling us stuff that some of them are religiously against. my local muslim shop keeper sells some lovely pork scratchings and great wine, plus i dont see any white guys working in the all night petrol station.