GDP drop of 0.7% in the second quarter.
Discussion
sidicks said:
Loans 'linked to base rate' does not mean loans are actually set at base rate!!
I was aware of that...Looking at current mortgage rates they appear to be base plus 3% or so, whereas a few years ago you could get base plus 0.25%, or even base less a bit. So whilst base rates have fallen significantly mortgae rates haven't.
Edited to add, I thought LIBOR was the determining factor for bank costs, not base rate?
Edited by RYH64E on Monday 30th July 15:37
crankedup said:
Do you know how our friends from abroad live so economically in the U.K. So economically they are able to send money they have earn't 'home'. Level playing field?
Yes, they don't buy iPhones they can't afford, and they take low paid jobs, because all our unemployed think they are worth nothing less than 50 grand 'innit'.And f
k it, why work if you're on benefits anyway! Work just gets in the way of continual procreation, and only the idiots get out of bed early to go to work. ffs.tinman0 said:
crankedup said:
Do you know how our friends from abroad live so economically in the U.K. So economically they are able to send money they have earn't 'home'. Level playing field?
Yes, they don't buy iPhones they can't afford, and they take low paid jobs, because all our unemployed think they are worth nothing less than 50 grand 'innit'.And f
k it, why work if you're on benefits anyway! Work just gets in the way of continual procreation, and only the idiots get out of bed early to go to work. ffs.tinman0 said:
crankedup said:
Do you know how our friends from abroad live so economically in the U.K. So economically they are able to send money they have earn't 'home'. Level playing field?
Yes, they don't buy iPhones they can't afford, and they take low paid jobs, because all our unemployed think they are worth nothing less than 50 grand 'innit'.And f
k it, why work if you're on benefits anyway! Work just gets in the way of continual procreation, and only the idiots get out of bed early to go to work. ffs.crankedup said:
Yes, yes, yes, we all know about this, but I asked 'do you know how our friends from abroad live so economically in the U.K'. nine out of ten for a tired rant.
anonymous said:
[redacted]
Ah, sorry about the tired old rant lol.Look, I was married to an immigrant once, and what Tonker says is spot on (but she was female). She worked hard, she put money aside and once a month she sent money to her parents. It's really as simple as that.
(Her parents then went on a spending spree once a month, when they were meant to be saving some of it haha)
Key words here though "hard work". We don't do that in the UK anymore. Well, the suckers who work do, but the rest of society sits on their shoulders. Doh, tired old rant again lol.
tinman0 said:
crankedup said:
Yes, yes, yes, we all know about this, but I asked 'do you know how our friends from abroad live so economically in the U.K'. nine out of ten for a tired rant.
anonymous said:
[redacted]
Ah, sorry about the tired old rant lol.Look, I was married to an immigrant once, and what Tonker says is spot on (but she was female). She worked hard, she put money aside and once a month she sent money to her parents. It's really as simple as that.
(Her parents then went on a spending spree once a month, when they were meant to be saving some of it haha)
Key words here though "hard work". We don't do that in the UK anymore. Well, the suckers who work do, but the rest of society sits on their shoulders. Doh, tired old rant again lol.
I'm delighted to say this gives another opportunity to bash New Labour. 50 years ago it was the duty of the common man to PRODUCE - coal, steel, ships, cars etc - and create wealth. By the 1970s the common man was bored with that and preferred to go on strike. Through the 1980s there was some rebalancing with UK starting to pick up and by the end of Major's government it was in pretty decent shape.
Under New Labour the new duty of the common man was to CONSUME - which meant to borrow as much as possible and spend as much as possible. And if you didn't have a job the government would give you some money anyway so that you could play the game. The approach to life thist encouraged at the bottom of UK society will take decades to cure.
The only cure is to turn off the tap. Which in real-world terms means reducing the level of the state safety-net. Benefits as a lifestyle choice must end. Disability benefit as a solution to lack of income must end. Generous early pensions for public sector workers must end. Early retirement as a solution for incompetent public workers must end.
Under New Labour the new duty of the common man was to CONSUME - which meant to borrow as much as possible and spend as much as possible. And if you didn't have a job the government would give you some money anyway so that you could play the game. The approach to life thist encouraged at the bottom of UK society will take decades to cure.
The only cure is to turn off the tap. Which in real-world terms means reducing the level of the state safety-net. Benefits as a lifestyle choice must end. Disability benefit as a solution to lack of income must end. Generous early pensions for public sector workers must end. Early retirement as a solution for incompetent public workers must end.
ukwill said:
tinman0 said:
crankedup said:
Yes, yes, yes, we all know about this, but I asked 'do you know how our friends from abroad live so economically in the U.K'. nine out of ten for a tired rant.
anonymous said:
[redacted]
Ah, sorry about the tired old rant lol.Look, I was married to an immigrant once, and what Tonker says is spot on (but she was female). She worked hard, she put money aside and once a month she sent money to her parents. It's really as simple as that.
(Her parents then went on a spending spree once a month, when they were meant to be saving some of it haha)
Key words here though "hard work". We don't do that in the UK anymore. Well, the suckers who work do, but the rest of society sits on their shoulders. Doh, tired old rant again lol.
Ozzie Osmond said:
I'm delighted to say this gives another opportunity to bash New Labour. 50 years ago it was the duty of the common man to PRODUCE - coal, steel, ships, cars etc - and create wealth. By the 1970s the common man was bored with that and preferred to go on strike. Through the 1980s there was some rebalancing with UK starting to pick up and by the end of Major's government it was in pretty decent shape.
Under New Labour the new duty of the common man was to CONSUME - which meant to borrow as much as possible and spend as much as possible. And if you didn't have a job the government would give you some money anyway so that you could play the game. The approach to life thist encouraged at the bottom of UK society will take decades to cure.
The only cure is to turn off the tap. Which in real-world terms means reducing the level of the state safety-net. Benefits as a lifestyle choice must end. Disability benefit as a solution to lack of income must end. Generous early pensions for public sector workers must end. Early retirement as a solution for incompetent public workers must end.
Created wealth? who for, the coal mines were so badly managed the U.K. nor workers were any better of.Under New Labour the new duty of the common man was to CONSUME - which meant to borrow as much as possible and spend as much as possible. And if you didn't have a job the government would give you some money anyway so that you could play the game. The approach to life thist encouraged at the bottom of UK society will take decades to cure.
The only cure is to turn off the tap. Which in real-world terms means reducing the level of the state safety-net. Benefits as a lifestyle choice must end. Disability benefit as a solution to lack of income must end. Generous early pensions for public sector workers must end. Early retirement as a solution for incompetent public workers must end.
Were all in a better place now thanks to the world winning ways of the banking industry, they have damaged U.K. far more than previous decades of working people going on strike. Continuance of the banking industry reforms should be the Governments priority alongside Social benefit reforms.
As a matter of curiosity, which group of people do you define as 'common people'?
Ozzie Osmond said:
I'm delighted to say this gives another opportunity to bash New Labour. 50 years ago it was the duty of the common man to PRODUCE - coal, steel, ships, cars etc - and create wealth. By the 1970s the common man was bored with that and preferred to go on strike. Through the 1980s there was some rebalancing with UK starting to pick up and by the end of Major's government it was in pretty decent shape.
Under New Labour the new duty of the common man was to CONSUME - which meant to borrow as much as possible and spend as much as possible. And if you didn't have a job the government would give you some money anyway so that you could play the game. The approach to life thist encouraged at the bottom of UK society will take decades to cure.
The only cure is to turn off the tap. Which in real-world terms means reducing the level of the state safety-net. Benefits as a lifestyle choice must end. Disability benefit as a solution to lack of income must end. Generous early pensions for public sector workers must end. Early retirement as a solution for incompetent public workers must end.
Boring rehash of typical PH response to the economic gloom. The numbers are the worst for a century, even outstripping the depression of the 1930's and while it seems de riguer to blame New Labour for just about everything on here, might there be rather more reasons for our current plight than a bunch of power hungry, over zealous centrist politicians? There are serious structural issues within our economy, wider global problems and maybe a political system that is out of step, but no, it's all down to Blair and Brown, as you were. Under New Labour the new duty of the common man was to CONSUME - which meant to borrow as much as possible and spend as much as possible. And if you didn't have a job the government would give you some money anyway so that you could play the game. The approach to life thist encouraged at the bottom of UK society will take decades to cure.
The only cure is to turn off the tap. Which in real-world terms means reducing the level of the state safety-net. Benefits as a lifestyle choice must end. Disability benefit as a solution to lack of income must end. Generous early pensions for public sector workers must end. Early retirement as a solution for incompetent public workers must end.
Blue62 said:
Ozzie Osmond said:
I'm delighted to say this gives another opportunity to bash New Labour. 50 years ago it was the duty of the common man to PRODUCE - coal, steel, ships, cars etc - and create wealth. By the 1970s the common man was bored with that and preferred to go on strike. Through the 1980s there was some rebalancing with UK starting to pick up and by the end of Major's government it was in pretty decent shape.
Under New Labour the new duty of the common man was to CONSUME - which meant to borrow as much as possible and spend as much as possible. And if you didn't have a job the government would give you some money anyway so that you could play the game. The approach to life thist encouraged at the bottom of UK society will take decades to cure.
The only cure is to turn off the tap. Which in real-world terms means reducing the level of the state safety-net. Benefits as a lifestyle choice must end. Disability benefit as a solution to lack of income must end. Generous early pensions for public sector workers must end. Early retirement as a solution for incompetent public workers must end.
Boring rehash of typical PH response to the economic gloom. The numbers are the worst for a century, even outstripping the depression of the 1930's and while it seems de riguer to blame New Labour for just about everything on here, might there be rather more reasons for our current plight than a bunch of power hungry, over zealous centrist politicians? There are serious structural issues within our economy, wider global problems and maybe a political system that is out of step, but no, it's all down to Blair and Brown, as you were. Under New Labour the new duty of the common man was to CONSUME - which meant to borrow as much as possible and spend as much as possible. And if you didn't have a job the government would give you some money anyway so that you could play the game. The approach to life thist encouraged at the bottom of UK society will take decades to cure.
The only cure is to turn off the tap. Which in real-world terms means reducing the level of the state safety-net. Benefits as a lifestyle choice must end. Disability benefit as a solution to lack of income must end. Generous early pensions for public sector workers must end. Early retirement as a solution for incompetent public workers must end.
anonymous said:
[redacted]
I agree with the work harder bit and I am not defending lazy don't want to work people. What I am suggesting is that people cannot live on the minimum wage unless they have 'arrangements' for housing, food, bills, and all the other living needs. It cannot be done without support or other income.anonymous said:
[redacted]
I obviously sense your annoyance regarding the situation of immigrant workers 'doing the job locals won't do'. For those coming in from abroad our minimum wage is a fortune, two or three years hard graft, send the money home and they are set up to go back home. Many of these people will rough it living in conditions that are at best sub-standard. Living standards for some of these people are little more than standards of the U.K. 100 years ago in some cases. Come out to the East Anglia fens and see for yourself. As a Nation we are supposed to pride ourselves on moving forward and improving living standards for all. For some reason it is not including immigrant workers who are happy to put up with their pot because its better than their situation at home.For me its just taking a financial advantage from cheap labour and looking away from the cost, no different to sending kids up chimneys (exaggeration for effect). Again I am not defending idle unemployed.
Like yourself, my personal situation is one of reasonable comfort now, born from hard work and at times serious worries and anxieties.
Digga said:
No. Politicians of all parties are certainly the problem and, combined with an over-blown public sector, which not only extracts too much rent from industry but also, in large parts, spends its time hindering it, is fully in the frame.
Same old stuff again, the public sector may be an issue, but it is not the problem. It's convenient to parcel it all up and blame Labour, the public sector, lazy tykes, immigration and so on, but the fact is that the problems run a lot deeper and are rather more complex than you suggest. Our manufacturing base has eroded, our economy is unbalanced, big regional disparities, Eurozone problems, credit crises, changing world order. Sure we have cultural issues and public spending was (and still is)out of control, but much (not all) of the analysis on here is confined to blaming the same old suspects, without any appreciation of the wider issues. Blue62 said:
Digga said:
No. Politicians of all parties are certainly the problem and, combined with an over-blown public sector, which not only extracts too much rent from industry but also, in large parts, spends its time hindering it, is fully in the frame.
Same old stuff again, the public sector may be an issue, but it is not the problem. It's convenient to parcel it all up and blame Labour, the public sector, lazy tykes, immigration and so on, but the fact is that the problems run a lot deeper and are rather more complex than you suggest. Our manufacturing base has eroded, our economy is unbalanced, big regional disparities, Eurozone problems, credit crises, changing world order. Sure we have cultural issues and public spending was (and still is)out of control, but much (not all) of the analysis on here is confined to blaming the same old suspects, without any appreciation of the wider issues. The we have allowed the EU to be part of this meddling is, again, very much the fault of government because there was never a referendum for any one else to have a say in the matter. That we align our societal aspirations to the EU rather than the working economies is inextricably linked to this.
anonymous said:
[redacted]
Housing is the other issue. Too many people now hold the view that it's their right to leave education and be able to instantly buy the house they want in the area they want and fill it with the shiny things they want without actually working to achieve any of it. Too few people seem prepared to go through the intermediate steps of living on Super Noodles in a bedsit or flat/house share in a grotty part of town whilst they get themselves established. Their expectations are totally out of line with their economic reality, yet rather than adjust the former they bemoan the latter.hornet said:
Housing is the other issue. Too many people now hold the view that it's their right to leave education and be able to instantly buy the house they want in the area they want and fill it with the shiny things they want without actually working to achieve any of it. Too few people seem prepared to go through the intermediate steps of living on Super Noodles in a bedsit or flat/house share in a grotty part of town whilst they get themselves established. Their expectations are totally out of line with their economic reality, yet rather than adjust the former they bemoan the latter.
Seriously, where is the evidence for this, other than in the pages of the Daily Mail? I know plenty of decent young people who want to work and are willing to work, I also come across a few dead beats, but after 20 years in the hiring business and more recently volunteering with local schools and colleges with career advice and support, I can honestly report that little has changed in terms of attitude. It might pay us all to stop and consider what kids today (and yesterday) are force fed through advertising as they are encouraged from an early age to 'consume'. My generation were never quite so exposed and the issue goes wider than parenting, society is a reflection of itself. There is an emerging school of thought that suggests we would do better to focus on what we need as opposed to what we want to improve the quality of our lives, maybe the time really has come to reassess what it's all about.
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