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Household finance 'under pressure in August'
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=10149		 Page 1 of 1
Author:  Amnesia10 [ Mon Aug 23, 2010 5:40 am ]
Post subject:  Household finance 'under pressure in August'
http://www.bbc.co.uk/news/business-11053227

Quote:
Household finances came under pressure on all fronts in August, according to market researchers Markit and YouGov.

Their survey of 2,000 households showed people were increasingly worried about losing their jobs and higher costs of living.

The Household Finance Index suggests individuals are feeling few benefits from the growing economy.

Some 30% of polled households said their finances had worsened, compared to 6% who said they had improved.

Nearly 69% of respondents reported a rise in the price of their goods and services in August from July, the highest level since the survey began 18 months ago.

Tim Moore, economist at Markit, said: "Stronger growth in the UK economy has done little to put a floor under the downturn in household finances."

BBC business correspondent Joe Lynam says the HFI is intended to accurately anticipate changing consumer behaviour, and its latest findings seem to contradict the official data which shows the UK economy had grown quite well in the second quarter.

Trickle down is a fantasy theory. The Coalitions policies will not make it any easier for the majority. An increase in income tax allowances will be swallowed up by companies increasing their profit margins at the expense of consumers.
Author:  l3v1ck [ Mon Aug 23, 2010 7:06 am ]
Post subject:  Re: Household finance 'under pressure in August'
It was never going to be easier, no matter who won or what their policies were.
Author:  Amnesia10 [ Mon Aug 23, 2010 2:19 pm ]
Post subject:  Re: Household finance 'under pressure in August'
l3v1ck wrote:
It was never going to be easier, no matter who won or what their policies were.

There would have been a huge difference. There would have been less unemployment as a result of Labour winning. The economy would have still be recovering rather than going into another recession. Tory policies mean that the average worker losing his job to keep inflation down or to cut the national debt is perfectly acceptable. Though wait till they accept that high unemployment is here to stay and you better get used to it. All the parties lied about how living standards were going to plummet as a result of the financial crisis. The fact that the burden is falling disproportionately on the young is down to the fact that the Tories want tax cuts for the elderly and rich. The difference is who pays and how much.
Author:  bobbdobbs [ Mon Aug 23, 2010 3:08 pm ]
Post subject:  Re: Household finance 'under pressure in August'
Amnesia10 wrote:
l3v1ck wrote:
It was never going to be easier, no matter who won or what their policies were.

There would have been a huge difference. There would have been less unemployment as a result of Labour winning. .
you have no way of knowing that. It could be argued that we would be seeing even greater unemployment if Labour had remained in power.

Amnesia10 wrote:
The economy would have still be recovering rather than going into another recession. .
currently its not in recession, I know you want to ignore that minor point but two quarters of posative growth means that we are not in recession. You are going to have to wait for another two consecutive quaters of negative growth before you can declare another recession.

Amnesia10 wrote:
Tory policies mean that the average worker losing his job to keep inflation down or to cut the national debt is perfectly acceptable. .
The average worker is still in a job and wont be losing thier jobin the short or medium term.

Office of National Statistics wrote:
The employment rate for those aged from 16 to 64 for the three months to June 2010 was 70.5 per cent, up 0.3 on the quarter. The number of people in employment aged 16 and over increased by 184,000 on the quarter to reach 29.02 million. This is the largest quarterly increase in the number of people in employment since 1989.
Author:  Amnesia10 [ Mon Aug 23, 2010 4:50 pm ]
Post subject:  Re: Household finance 'under pressure in August'
bobbdobbs wrote:
Amnesia10 wrote:
There would have been a huge difference. There would have been less unemployment as a result of Labour winning. .

you have no way of knowing that. It could be argued that we would be seeing even greater unemployment if Labour had remained in power.

Labour would have not cut as fast or as deep. End result more people working. You need to grow the economy out of recession. Look at Ireland their debt to GDP ratio is still very high yet they have trashed the economy, sent more than 60 000 citizens offshore in desperation, and are probably still going to default. It is just a matter of time.

bobbdobbs wrote:
Amnesia10 wrote:
The economy would have still be recovering rather than going into another recession. .

currently its not in recession, I know you want to ignore that minor point but two quarters of posative growth means that we are not in recession. You are going to have to wait for another two consecutive quaters of negative growth before you can declare another recession.

Technically we are not in recession but that was not the Coalitions achievement. The fact that their announced cuts are already slowing the economy and they have not even started the cuts means that people expect it to be grim. The economy is based on confidence and if you trash that you get a slowdown. That is what is happening. People are expecting the worst so in effect making it reality. After a normal recession you would get a V shaped recovery. We have had none of that this time.

bobbdobbs wrote:
Amnesia10 wrote:
Tory policies mean that the average worker losing his job to keep inflation down or to cut the national debt is perfectly acceptable. .

The average worker is still in a job and wont be losing thier jobin the short or medium term.

During the depression 90% of people still had a job. That still did not mean the depression never happened. In the US the numbers loosing their jobs weekly has remained high at around 460 000 plus per week. What is happening there is a churn of workings going in and out of employment. Never staying for long. That may be happening here on a smaller scale. There are certainly a lot more people on part-time when they would prefer full time. That is massaging the figures as well. Then if you allow for the numerous changes in how unemployment is calculated then the figures will be much higher. Hundreds of thousands are on sickness benefits when they really are just unemployed. In the US it is already 17.6% and climbing. That is much worse than the depression.

bobbdobbs wrote:
Office of National Statistics wrote:
The employment rate for those aged from 16 to 64 for the three months to June 2010 was 70.5 per cent, up 0.3 on the quarter. The number of people in employment aged 16 and over increased by 184,000 on the quarter to reach 29.02 million. This is the largest quarterly increase in the number of people in employment since 1989.

Still proves my point, 70.5 percent is a lower fraction than that of other workers. Look at the numbers of graduates unemployed. In Spain they have 40% youth unemployment.
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