Making the news today....

[Big J]

52 minutes ago, eggsarascal said:

This is where inflation goes over my head, if those three lads were employed on £200/day and the company they worked for were charging them out at £450, would that cause inflation?

 

I’m sure I should know this, but I’m blank on it.

 

It contributes to overall inflation:

 

1) the building work becomes more expensive, so the end product is more expensive

2) the brickies have more spending power, so will put more cash into the economy, so will thus cause more inflation.

 

If everyone is paid more and everything costs more and the bank keeps printing new money, inflation rapidly becomes a serious problem.

 

The UK's problem at the moment is 'stagflation', where the cost of everything is going up against the backdrop of reduced GDP. This is the worst scenario of all.

[GarethM]

Just paying people more is necessarily a panacea solution tho, obviously a fair wage is a minimum without needing to top it up with handouts.

 

If you're paid more and goods go up, you're not financially better off. 

[Big J]

7 minutes ago, GarethM said:

Just paying people more is necessarily a panacea solution tho, obviously a fair wage is a minimum without needing to top it up with handouts.

 

If you're paid more and goods go up, you're not financially better off. 

 

In real terms, everyone is worse off at the moment compared to just about any recent time period, and Brits are about to see the worst ever reduction in living standards. 

 

Worst fall in UK living standards since records began, says OBR | Economics | The Guardian

WWW.THEGUARDIAN.COM

---

Spending watchdog says Britain is in recession and unemployment will rise by 500,000

 

[GarethM]

That is the same in practically every country on the planet tho.

 

It's not just a UK phenomenon.

[Dionysus]

On 26/11/2022 at 17:57, Johnsond said:

England fans say they were stripped naked and humiliated for dressing up as Crusaders at World Cup

APPLE.NEWS

---

Two England fans have claimed they were stripped naked and humiliated for dressing up as...

Idiots quite frankly, rather akin to Germans coming to Wembley dressed as ss stormtroopers 🤷‍♂️I’m pretty sure people would be up in arms. 

Surprised they didn't have a large poster of prophet muhammad...

[Big J]

3 minutes ago, GarethM said:

That is the same in practically every country on the planet tho.

 

It's not just a UK phenomenon.

 

I agree. It's just a question magnitude. 

[GarethM]

Maybe we can do that with one of the players. Scrub that we can turn crisp man into a national marter!.

 

Behead lineker and use it for the final.

Edited November 28, 2022 by GarethM

[GarethM]

I'm still interested in what's going to happen in China, riots etc over the continuation of the zero COVID nonsense which has stymied buisness especially electronics and manufacturing.

 

Whilst not totally to blame for global recession, it's a big driving factor causing shortages in practically every industry.

Edited November 28, 2022 by GarethM

[Woodworks]

17 minutes ago, GarethM said:

I'm still interested in what's going to happen in China, riots etc over the continuation of the zero COVID nonsense which has stymied buisness especially electronics and manufacturing.

 

Whilst not totally to blame for global recession, it's a big driving factor causing shortages in practically every industry.

They are in a right old mess on this. Poor vaccine take up in the older age groups and facing way more contagious variants than we did at our peek covid so could rip through the country very very fast.

 

Cant work out why they are happy to use draconian measures like welding doors shut on buildings or shipping people off to containment camps but not prepared to make the vulnerable take a vaccine 

Edited November 28, 2022 by Woodworks

[GarethM]

Communism is not a carrot and the stick argument, it's more a stick and an even bigger stick.

 

Vaccine or not, they as well as everyone else needs to learn to buck up and live with the genie now it's out of the test tube.

 

After 7 million years of evolution, hiding in a cave never helped matters.

 

The real question is how are they going to respond and save face without the regime falling apart.

Edited November 28, 2022 by GarethM