Reply to: Never had it so good

[DimPrawn]

The fact is, if you can stay in work, recessions are good news.

Why, because you can save money and then watch BoE print another trillion ££££ making it a waste of time, or watch your real income eroded with double digit inflation whilse those in public sector jobs and on benefits get index linked pay and pensions?

[NotAllThere]

The fact is, if you can stay in work, recessions are good news.

[original PM]

Interesting I was listening on the radio to the peoples responses to this.

Apparently one bloke thought it was bad because he could no longer get credit....... erm missed the point??

Anothe bloke said the cuts were all Camerons fault and it was better under labour.


Eeeeeeh I don;t know not surpising the country is going to the dogs with F**kwits like this on board.

[AtW]

Is PPP (Purchasing Power Parity) any good for tracking what's going on? Or is the Big Mac Index more digestible (not my joke).

PPP does not take into account things like subsidies, and also all sort of risks related to legal/political systems in those countries.

[TimberWolf]

They certainly will be - that's the whole idea of those muppets who print money - nominally house prices won't drop as much, so that banks won't have to make write offs, and also technically less people in negative equity, but if you use proper valuation that does not use paper money you'll see house prices have dropped dramatically.

The only problem is how to get paid in oil, grain, gold etc.

Is PPP (Purchasing Power Parity) any good for tracking what's going on? Or is the Big Mac Index more digestible (not my joke).

[AtW]

houses won't be as affected by inflation.

They certainly will be - that's the whole idea of those muppets who print money - nominally house prices won't drop as much, so that banks won't have to make write offs, and also technically less people in negative equity, but if you use proper valuation that does not use paper money you'll see house prices have dropped dramatically.

The only problem is how to get paid in oil, grain, gold etc.

[TimberWolf]

Those who are in mortgage debt have never ever had a better recession than this one - it's the truth.

Sadly everyone else gets hammered - renters still pay high rent and inflation on food/fuel kills disposable income.

Just owning a house is half as good (as having a mortgage), at least compared to cash savings, as houses won't be as affected by inflation. Assuming house prices don't crash.

[AtW]

Have we discussed dangerously out of touch millionaire Tory politicians?

Those who are in mortgage debt have never ever had a better recession than this one - it's the truth.

Sadly everyone else gets hammered - renters still pay high rent and inflation on food/fuel kills disposable income.

[TimberWolf]

BBC News - Theo Paphitis defends Lord Young's recession comments

he was concerned that "some half-wit" would replace Lord Young.

Or at least someone who doesn't let the cat out of the bag.

[Jog On]

Sacking? Or getting caught? Or telling the truth?

Apparently he was unpaid but my money's on 'made to step down'

[d000hg]

Sacking? Or getting caught? Or telling the truth?

[shaunbhoy]

Oh ffs, sacked for getting caught telling the truth.

That would never have happened under New Labour.

[TimberWolf]

Oh ffs, sacked for getting caught telling the truth.

[Jog On]

He's stepped down now

Banished to a life of shooting pheasants and playing bridge no doubt..

[Spacecadet]

KUATB