Mortgage Rate Rises

robfosters said:
I am only joking don’t worry. My position is actually a lot better than many so don’t worry.

It was more a generalised observation that this is indeed sadly the point at which some less fortunate may be starting to veer dangerously down that path.

I haven’t heard much about mental health at all. The effects of this COL crisis seem to be being sorely overlooked.
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I am little sensitive about this so sorry :)
 
Mercenary Keyboard Warrior said:
Its neither TBH.
No my point was Dan was initially saying if they make a profit they can afford to pay more wages. Most businesses do not have stable profits, they vary for many factors.

Anyway hes moved on again to saying that its about shareholders dividends now and that should be shared more equally.

Which is not an impossible model but quickly runs into (as I listed above) a fairly significant issue in regards directors duties.
The bonus model is certainly a way to try to improve staff efficiency but it has its flaws as well.
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Do you think BoE chief is right to send out messages about suppressing wage growth?
 
danlightbulb said:
Do you think BoE chief is right to send out messages about suppressing wage growth?
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Hmm interesting question.
My gut feel is no, mainly.

Must admit I have only seen partial coverage but IMO the BOE commenting on that directly in regards what should happen is out of order.
They should comment as I saw earlier in regards its effect, but not if it should happen or not.
 
robfosters said:
No, how dare he. A man on hundreds of thousands of pounds a year and without a financial care in the world is trying to force bosses into making their loyal hardworking employees poorer.

Total ****
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His wealth doesn't make what he is saying untrue. I know people like to think that the wealthy can't comment on these things but if wages keep rising to meet inflation then inflation will keep rising to meet wages and this will take a lot longer to sort out.
 
danlightbulb said:
Do you think BoE chief is right to send out messages about suppressing wage growth?
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Haven't seen it but he's said similar before. Out of order to be playing politics given his office but it goes to show what his politics are. Wouldn't be in that job unless he had the establishment right wing worldview though.

Just imagine if he came out and told greedy faceless organisations to stop profiteering and driving costs up? Bet you it wouldn't be quite the church mouse reception he gets when he tells workers to accept being poorer.
 
fez said:
His wealth doesn't make what he is saying untrue. I know people like to think that the wealthy can't comment on these things but if wages keep rising to meet inflation then inflation will keep rising to meet wages and this will take a lot longer to sort out.
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But we already have had collosal wage stagnation for 15 years.....

Wages need to go up regardless.

Also, I do think all these people on absurd wages who have been mega wealthy for most of their life absolutely cannot comprehend the issue properly.
 
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danlightbulb said:
Do you think BoE chief is right to send out messages about suppressing wage growth?
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A good question.

Probably not.

That line will have been sweated over and redrafted many times, but it was used.

The issue is: even if he is correct in the bigger economic picture, it plays very badly indeed with the public.

As more people come off low rate fixed deals with, and with increasing fuel costs as we go into winter, it is going to get very bleak for many.
 
if you stuck a bunch of monkeys and clowns in bank of england, the outcome would have been the same, absolute **** show.
They would have done better I'm sure of it
 
I'm sure they could pass a new statue of labourers, just this time for everybody, a nice low maximum wage that should do the trick, and it's totally worked after a pandemic before.
 
potatolord said:
A good question.

Probably not.

That line will have been sweated over and redrafted many times, but it was used.

The issue is: even if he is correct in the bigger economic picture, it plays very badly indeed with the public.

As more people come off low rate fixed deals with, and with increasing fuel costs as we go into winter, it is going to get very bleak for many.
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The thing is even if he is correct the people of the UK have been basically screwed over for years. The majority of us saw a real wage growth (minus inflation) of a whooping -0.4% yep we've gotten 0.4% poorer.
 
EvilRob said:
If it's what's needed to get inflation under control then of course he should say it. How is his salary relevant?
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Where have you been for the last 10 years?

Even I can tell that when you are telling people on 25k a year that they should not get a payrise despite the wage stagnation of the last decade it‘s going to be an akward conversation if you are on 15x as much, come on man.

Secondly, where is the proof inflation is down to demand side and not currency devaluation/brexit/or any non consumer factors?
 
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CapitalOne said:
Where have you been for the last 10 years?

Even I can tell that when you are telling people on 25k a year that they should not get a payrise despite the wage stagnation of the last decade it‘s going to be an akward conversation if you are on 15x as much, come on man.

Secondly, where is the proof inflation is down to demand side and not currency devaluation/brexit/or any non consumer factors?
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Low income households are the ones who are most affected by inflation. What's the point of getting a payrise if it just ends up making you poorer?
Yes policy over the last 15 years or so has led to awful wage growth but you can't waive a magic wand and make the underlying causes of that disappear. It will take years of improved government policy for that.
 
EvilRob said:
Low income households are the ones who are most affected by inflation. What's the point of getting a payrise if it just ends up making you poorer?
Yes policy over the last 15 years or so has led to awful wage growth but you can't waive a magic wand and make the underlying causes of that disappear. It will take years of improved government policy for that.
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Well all I can say is it didn’t seem to me like you were reading the room, saying that neither did it seem Bailey was.

I don’t see any tangible macro evidence that payrises at that level are having an impact on inflation but of course I could be wrong.

I agree it’s a policy problem, and we all know about magic wands. He’s guessing that pay restraint will help. That’s a bit of a stretch. That’s why I’m confused that he felt he had to say that and not add something like “and brexit is basically 3% on top”.
 
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