Apparently…..it isn’t a job

[Grimalkin]

5 minutes ago, neepheid said:

 

Quote source needed

 

Take your pick.

 

https://www.google.com/search?source=univ&tbm=isch&q=wage+stagnation&fir=gLwCzYV2kU6XSM%2C5YUHZTQ8_wIo3M%2C_%3B-P4uJ9lT0Gve4M%2COHDvWrrNK5VHcM%2C_%3BTxKfwxTA7c0o3M%2Cb4t0XC648JLE_M%2C_%3BbwuYNn1BggcJeM%2CtvTFz2wiMeMv-M%2C_%3Bm9FIK4w-N2xpqM%2C19CIifb_BhausM%2C_%3BBn_vHSUW9n47CM%2C5YUHZTQ8_wIo3M%2C_%3Bog51PI5MjTPVTM%2ChGru_4cZcveeeM%2C_%3BEV4RGi3j-rzWGM%2CtvTFz2wiMeMv-M%2C_%3BlISUmtaga_q8RM%2C2c1Raf-vkzPlOM%2C_%3BEtZpmTOVOUpwkM%2CPK1no1jtvL--XM%2C_&usg=AI4_-kQsXNvQqgUYZpJeMCEkbqTHPoArGw&sa=X&ved=2ahUKEwj2msXTztr6AhVOi1wKHVuGAE8QjJkEegQITBAC&biw=1097&bih=549&dpr=1

[Dad3353]

 

 

2 minutes ago, Grimalkin said:

... gLwCzYV2kU6XSM%2C5YUHZTQ8_wIo3M%2C_%3B-P4uJ9lT0Gve4M%2COHDvWrrNK5VHcM%2C_%3BTxKfwxTA7c0o3M%2Cb4t0XC648JLE_M%2C_%3BbwuYNn1BggcJeM%2CtvTFz2wiMeMv-M%2C_%3Bm9FIK4w-N2xpqM%2C19CIifb_BhausM%2C_%3BBn_vHSUW9n47CM%2C5YUHZTQ8_wIo3M%2C_%3Bog51PI5MjTPVTM%2ChGru_4cZcveeeM%2C_%3BEV4RGi3j-rzWGM%2CtvTFz2wiMeMv-M%2C_%3BlISUmtaga_q8RM%2C2c1Raf-vkzPlOM%2C_%3BEtZpmTOVOUpwkM%2CPK1no1jtvL--XM%2C_&usg=AI4_-kQsXNvQqgUYZpJeMCEkbqTHPoArGw&sa=X&ved=2ahUKEwj2msXTztr6AhVOi1wKHVuGAE8QjJkEegQITBAC&biw=1097&bih=549&dpr=1

Hmm... It loses a little something in translation, I feel. 

[Grimalkin]

Neoliberalism – the ideology at the root of all our problems:

 

https://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-george-monbiot

[Grimalkin]

Just now, Dad3353 said:

 

 

Hmm... It loses a little something in translation, I feel. 

 

Can't you find something better to do?

[Dad3353]

1 minute ago, Grimalkin said:

 

Can't you find something better to do?

 

The paint's too dry, soooooo... No. 

[Grimalkin]

https://www.theguardian.com/business/2014/jan/31/real-wages-falling-longest-period-ons-record

[Grimalkin]

3.16 - 3.40. Sound familiar?

 

 

[Dad3353]

[BigRedX]

Maybe Basschat should ask Mr Chomsky if he's like to become member?

[Grimalkin]

"We don't need experts."

 

Oh wait...

 

 

[dmccombe7]

1 hour ago, Tim2291 said:

Of course nobody would turn down the offer of a large sum of money! From what you have said, you are on the same wavelength as the conversation. Your financial success and planning has freed you to retire earlier than many others which is amazing and it sounds like it makes you happy and content! As you have said, you don't buy shiny new stuff which was probably a large factor in your early retirement and hats off to you for doing so, my grandparents did similar and now in her late 80's, my grandma can still afford to do anything she wants to do! I would 100% make the same choice as you if I have managed to get myself to a similar position. My theory is it is much better to live in a smaller house, with an older car but have more time to be with family and friends doing things I enjoy than to be at work 14 hours a day!

My working life took over everything in my life. I gave up bands and other hobbies because i simply didnt have the time. I was working ridiculous hours many of which were unpaid and i never got those hours back. I cancelled weddings i was invited to, come  back early from holidays or went straight to work as soon as i dropped my cases off at the house, i was continually called at all hrs of the day and night incl weekends and even while on holiday. 

My worst period was working continuously for 39hrs over a weekend. I worked for 11 weeks without a day off and only got a break because i was taking 2 weeks holidays abroad.

When i got the chance to take early retirement at 55 with 40 yrs service and voluntary redundancy meaning no penalties on my pension it was a no brainer. Good pension meant my wife was able to stop working as a graphic designer at age 50.

Since retiring i've realised how much i've missed over the years, the simple things like time together, spending Xmas day with my wife without work calling me, enjoying holidays, going for that coffee as and when i choose and of course playing in 2 different style of bands.

If i had to do it all over again i probably would have taken a different view on life and what it means. That's hindsight tho.

Dave 

[Grimalkin]

Careful you don't learn something...

[Dad3353]

[dmccombe7]

Everyday a school day on BC. Its why i'm here.

Dave

[BigRedX]

Just now, Grimalkin said:

"We don't need experts."

 

Oh wait...

 

And this is exactly the problem with just posting quotes because we don't exactly what you are quoting and what previous post it refers to.

 

It's just lazy arguing. It doesn't show that you have really understood what you are quoting, just you have learned how to copy and paste. Ultimately it adds nothing to the thread and undermines your credibility as someone who is worth listening to. And with that I am done listening to you. You're blocked, so bye bye...

[Grimalkin]

“Modern British behave as if intelligence were some sort of hideous deformity.”

Frank Zappa.

[Dad3353]

'A platitude is a platitude is a platitude.'

 

Dad3353

[tegs07]

2 hours ago, Grimalkin said:

"The governor of the Bank of England has come under fire from unions and earned a rebuke from 10 Downing Street for suggesting workers should not ask for big pay rises to help control inflation.

 

Andrew Bailey said he wanted to see “quite clear restraint” in the annual wage-bargaining process between staff and their employers to help prevent an upward spiral taking hold.

 

However, his comments drew a furious response from union leaders, as households face the worst hit to their living standards in three decades as soaring energy prices cause inflation to outstrip wage growth."

 

https://www.theguardian.com/business/live/2022/feb/04/cost-of-living-crisis-bank-of-england-pay-restraint-ofgem-energy-bills-us-jobs-business-live

 

The bank of England are part of it. They're not going to mention neoliberalism are they.

The problem with trying to put everything and everyone into a nice neat box is that it never quite fits.

The BOE are part of what exactly, a global neoliberal conspiracy?

 I see a long list of policy failures and fcuk ups, incompetence, complacency and short term thinking.

It’s not a conspiracy just bad economics and poor planning.

The result is an economy that can only function with sub 2% interest rates and low gilt yields.

Bailey knew that rates hitting elevated levels would bring havoc which is why he has avoided raising them to the required level to stave of inflation and has tried to talk down any further inflationary factors and calm the markets.

Wage inflation being a significant inflationary factor that investors in fixed income investments in particular look at. In other words the people that buy government debt and allow an economy to function.

 

Investors have now lost faith in UK PLC’s economic prudence for a multitude of reasons, inflation is running riot and gilt yields are hitting new levels.

Interest rates will have to rise and there will be all manner of unintended consequences, from margin calls whether from LDI issues as per the current pensions issues or Credit Default Swaps in investment banks. 

 

It may get messy but it’s not a conspiracy.
 

Edited October 12, 2022 by tegs07

[Grimalkin]

16 minutes ago, tegs07 said:

The problem with trying to put everything and everyone into a nice neat box is that it never quite fits.

The BOE are part of what exactly a global neoliberal conspiracy? I see a long list of policy failures and fcuk ups, incompetence, complacency and short term thinking.

It’s not a conspiracy just bad economics and poor planning.

The result is an economy that can only function with sub 2% interest rates and low gilt yields. Bailey knew that rates hitting elevated levels would bring havoc which is why he has avoided raising them and tried to talk down any further inflationary forces. Wage inflation being a significant factor.

 

Investors have now lost faith in UK PLCs economic prudence for a multitude of reasons, inflation is running riot and gilt yields are hitting new levels. Interest rates will have to rise and there will be all manner of unintended consequences from margin calls whether from LDI issues as per the current pensions issues or Credit Default Swaps in investment banks. 

It may get messy but it’s not a conspiracy.
 

 

Neoliberalism isn't a conspiracy, it is an ideology:

 

https://en.wikipedia.org/wiki/Neoliberalism#:~:text=Neoliberalism is contemporarily used to,state influence in the economy.

 

"The Bank of England has decided to buy debt from oil companies such as BP, Shell and Total. The government has given easyJet a £600m loan, even though, just a few weeks ago, the company frittered away £171m in dividends: profit is privatised, risk is socialised. In the US, the first bailout includes $25 billion for airlines. The government is sucking as much oil as possible into strategic petroleum reserves and sweeping away pollution laws, while freezing out renewable energy. Several European countries are seeking to rescue their airlines and car manufacturers..."

 

https://www.monbiot.com/2020/05/01/bail-out-the-planet/

 

It's exactly what the present government are pathologically persuing...

[Daz39]

10 minutes ago, Grimalkin said:

 

Neoliberalism isn't a conspiracy, it is an ideology:

 

https://en.wikipedia.org/wiki/Neoliberalism#:~:text=Neoliberalism is contemporarily used to,state influence in the economy.

 

"The Bank of England has decided to buy debt from oil companies such as BP, Shell and Total. The government has given easyJet a £600m loan, even though, just a few weeks ago, the company frittered away £171m in dividends: profit is privatised, risk is socialised. In the US, the first bailout includes $25 billion for airlines. The government is sucking as much oil as possible into strategic petroleum reserves and sweeping away pollution laws, while freezing out renewable energy. Several European countries are seeking to rescue their airlines and car manufacturers..."

 

https://www.monbiot.com/2020/05/01/bail-out-the-planet/

 

It's exactly what the present government are pathologically persuing...

You are right about that bit - just look at what some UK and US universities are doing with their neoliberal bent - removing any arts/humanities degrees that don't generate enough money and becoming profitable business schools, with alowance for science where they can pull in massive grants and sponsorship.

[tegs07]

12 minutes ago, Grimalkin said:

 

Neoliberalism isn't a conspiracy, it is an ideology:

 

https://en.wikipedia.org/wiki/Neoliberalism#:~:text=Neoliberalism is contemporarily used to,state influence in the economy.

 

"The Bank of England has decided to buy debt from oil companies such as BP, Shell and Total. The government has given easyJet a £600m loan, even though, just a few weeks ago, the company frittered away £171m in dividends: profit is privatised, risk is socialised. In the US, the first bailout includes $25 billion for airlines. The government is sucking as much oil as possible into strategic petroleum reserves and sweeping away pollution laws, while freezing out renewable energy. Several European countries are seeking to rescue their airlines and car manufacturers..."

 

https://www.monbiot.com/2020/05/01/bail-out-the-planet/

 

It's exactly what the present government are pathologically persuing...

I know what neoliberalism is. I would also argue that socialising banking failure was a distortion of free market capitalism as was much of the Covid response but that’s a digression. Not sure what the leap to Monbiot and bailing out carbon intensive industries has to do with the previous quote about the BOE, inflation and wages though?

 

[Grimalkin]

 

4 minutes ago, tegs07 said:

I know what neoliberalism is. I would also argue that socialising banking failure was a distortion of free market capitalism as was much of the Covid response but that’s a digression. Not sure what the leap to Monbiot and bailing out carbon intensive industries has to do with the previous quote about the BOE, inflation and wages though?

 

 

The BOE are bailing out industries to the tune of many millions, while telling workers not to ask for a pay rise...

[mikel]

1 hour ago, dmccombe7 said:

My working life took over everything in my life. I gave up bands and other hobbies because i simply didnt have the time. I was working ridiculous hours many of which were unpaid and i never got those hours back. I cancelled weddings i was invited to, come  back early from holidays or went straight to work as soon as i dropped my cases off at the house, i was continually called at all hrs of the day and night incl weekends and even while on holiday. 

My worst period was working continuously for 39hrs over a weekend. I worked for 11 weeks without a day off and only got a break because i was taking 2 weeks holidays abroad.

When i got the chance to take early retirement at 55 with 40 yrs service and voluntary redundancy meaning no penalties on my pension it was a no brainer. Good pension meant my wife was able to stop working as a graphic designer at age 50.

Since retiring i've realised how much i've missed over the years, the simple things like time together, spending Xmas day with my wife without work calling me, enjoying holidays, going for that coffee as and when i choose and of course playing in 2 different style of bands.

If i had to do it all over again i probably would have taken a different view on life and what it means. That's hindsight tho.

Dave 

Don't ever apologise for early retirement. If you flogged yourself for 40 years at the expense of everything else, then enjoy it. I only ever worked to pay for the things I like, never more than a job, and I could leave it behind every night. Swings and roundabouts I suppose. I have, and am still having, a great and varied life, but without a big pension. 

[tegs07]

16 minutes ago, Grimalkin said:

 

 

The BOE are bailing out industries to the tune of many millions, while telling workers not to ask for a pay rise...

apples and oranges

they are trying to control inflation without having to rapidly raise interest rates which would crush the indebted / hence plea for wage restraint.

 

At the same time they are trying to stop contagion in many businesses as the cost of servicing debt is spiralling (due to gilt yields rising … arguably due to interest rates being so low). Hence “bailout” or more accurately lifeline.

 

Monbiot’s writing dates back to Covid though not the BOE’s actions now.

I actually agree with him. The zombies should have been put to rest.

 

The article you have linked doesn’t address the situation we find ourselves in 2 years later though. Now pension funds (amongst others) are effectively being “bailed out” but workers told to be prudent.

That’s what I have addressed with my response above.

 

 

 

 

 

Edited October 12, 2022 by tegs07

[mikel]

5 minutes ago, Grimalkin said:

 

 

The BOE are bailing out industries to the tune of many millions, while telling workers not to ask for a pay rise...

And propping up the £ on a daily basis.