More Bad Info For Brits

[CiKa]

Good article by chief of Bank Of England what Brits can expect in 2011 regarding their financial status.

 

Although, to be frankly most non-Asian countries will have a similar situation.

 

This can be another indicator that in future, we'll see more Asians in Pattaya and less US and Europeans.

[leadpencil]

Interesting article, thanks for posting the link.

 

Sadly, I think that the news in the article was inevitable. Rises in the cost of fuel and food inflation is set to stay for the forseeable future.

 

Knowing that there was 'bad news' being released this week I have been watching how sterling has been fairing against various currencies. Surprisingly, after a big dip on Monday into Tuesday sterling actually came back against most currencies on Tuesday afternoon and seems to be managing to hold its own. The interbank rate on the baht is over 49 again and although that is not great, it is certainly better than it was through most of last year.

[The Seeker]

Thanks for posting the link. The UK economy is in quite a depressing situation.

Maybe we should hand the Bank of England over to darts player: Mervyn 'The King' King. He's very good with figures.

[praf974]

this is the same guy who has described uk inflation as a one off blip for three years and kept interest rates too low for too long .. no credibility, hes just trying to cover his own arse by justifying the low rates. german economy powering ahead, US qe in full flow, chinese economy overheating .. inflation is the biggest problem and low rates/low pound are the real problem .. what a jerk.

[The Seeker]

... german economy powering ahead...'

 

I agree. As it always does. We have a lot to learn on how to run an economy from the Germans, amongst many others.

Edited January 27, 2011 by The Seeker

[bungee]

For £300k per year pay (http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article7142485.ece) and pension of 200+K per year (http://www.guardian.co.uk/business/2009/may/18/mervyn-king-pension-boost) I’d also happily tell you whatever you want to hear even if I knew it was total bullshit for as long as people were gullible enough to believe it.

 

And it seems most people currently are pretty gullible and more interested in TV shows like X-factor, big brother and celebrity culture than to try to understand how they are being screwed over. When / if? they wake up it will likely be too late for them.

 

Lets hope interest rates aren't forced to rise soon otherwise there will be real carnage.

[chris2004]

I agree. As it always does. We have a lot to learn on how to run an economy from the Germans, amongst many others.

 

It's not surprising when they have 5 top flight car manufacturers and we have err none. Can someone remind me what do we actually manufacture.

[El Cata]

It's not surprising when they have 5 top flight car manufacturers and we have err none. Can someone remind me what do we actually manufacture.

Actually, manufacturing is the only sector that is holding strong in the UK, with construction deader than dead & the service sector bearing the brunt of job cuts; public sector excluded of course.

 

Quorn, biscuit crumbs & wine box taps are some of the things that are selling well globally; I know because I make them.

[the mad londoner]

Actually, manufacturing is the only sector that is holding strong in the UK, with construction deader than dead & the service sector bearing the brunt of job cuts; public sector excluded of course.

 

Quorn, biscuit crumbs & wine box taps are some of the things that are selling well globally; I know because I make them.

the public sector is taken huge cuts with thousand being put out of work but the goverment answer is lets up the taxs which means we earn less the debt just keep raising what they should do is drop the income tax for lower wage categraies and raise the higher wage earners those earning over 300k a year not going to notice a 10% increase as much as those on a lower wage will notice tax being droped by 10%

[chris2004]

Actually, manufacturing is the only sector that is holding strong in the UK, with construction deader than dead & the service sector bearing the brunt of job cuts; public sector excluded of course.

 

Quorn, biscuit crumbs & wine box taps are some of the things that are selling well globally; I know because I make them.

 

That sounds about right our recovery is going to be based on selling more biscuit crumbs

[ausielad]

that must be why allyou brits are moveing here to australia

[Mywaay]

Good things can't last forever.

[El Cata]

the public sector is taken huge cuts with thousand being put out of work but the goverment answer is lets up the taxs which means we earn less the debt just keep raising what they should do is drop the income tax for lower wage categraies and raise the higher wage earners those earning over 300k a year not going to notice a 10% increase as much as those on a lower wage will notice tax being droped by 10%

Yup, I know all about the public sector cuts, particularly in Education.

 

I doubt that tax increases for people earning over £300k would raise much revenue, due firstly to their low numbers & secondly they most likely run their own Ltd company or are 'non-doms'; hence they don't pay tax anyway. The only way to raise revenue is by taxing the working joes like you & me. I had to debate whether to work a £60 night shift last night, as tax, student loan & petrol would have gobbled up half!

 

That sounds about right our recovery is going to be based on selling more biscuit crumbs

Don't underestimate the power of the crumbs!

 

that must be why allyou brits are moveing here to australia

To LOS actually.

 

Things are coming together. The pound is at 49.5 & my TEFL provider gave me a better than 50 rate, saving me 4000B on the course. Hope the pound holds, or perish the thought keeps rising, until next month.

Edited February 1, 2011 by El Cata