| May and Juncker 00:46 - May 1 with 28497 views | FDC |
Pretty extraordinary story in German press. (Long 30 tweet thread, click on tweet below and scroll down)
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| May and Juncker on 01:27 - May 2 with 2328 views | Boston |
| May and Juncker on 12:30 - May 1 by kensalriser |
This is a common misunderstanding about our political system. We don't have a directly elected Premier, the PM is effectively either elected by MPs or by the political party he/she belongs to. |
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| May and Juncker on 09:47 - May 2 with 2228 views | Trom |
| May and Juncker on 23:16 - May 1 by FDC |
No need to apologise.
Wages. I meant wages adjusted for inflation. In terms of 'real wages' the UK has seen a decline since 2008 matched in the OECD only by Greece (-10%).
This talk from IFS notes that the young have been particularly hit by wage reduction..
https://www.ifs.org.uk/uploads/Presentations/Understanding%20the%20recession_230
Productivity and GDP/capita. I stand corrected on this being in decline per se but I think I'm right in saying productivity remains low compared to pre 2008, and perhaps more importantly within the context of assessing how Britain compares to the EU27, it is way behind France, Germany.
Likewise, GDP per capita is only now returning to where it was in 2007 - we've had a lost decade - and remains poor compared to other OECD countries.
But like I say, I stand corrected on these being in decline (but not wages - these are in decline!) |
That's median real wages not mean real wages.
You are correct about median wages stagnating post credit crunch. Mean wages haven't. So what we are seeing is the top 1% of wages rising but others being left behind.
Interestingly I gave a talk about this a couple of months ago. The pattern is very much the same in the US. If you then go on to map geographically wages you can see a strong correlation between low wage growth and the Brexit voting pattern and the Trump election.
The upshot of the talk was that we have whole groups of society that have been left behind by the recovery who are feeling angry and neglected and certainly let down by the political classes.
In my view the issues that the UK and many other developed nations have is that of inequality rather than that of low growth. There have been a few economics articles published recently that talk of large parts of society rejected the market based (monetarist and Austrian) schools of economics that have dominated from the 1980s.
Productivity has been an issue in the UK for decades. Sometimes we close that gap with other G6 members and sometimes it widens. Post 2008 it has widened largely due to the banking sector and oil industries suffering. It is however increasing. There are arguments that productivity in France and Germany outstrip the UK due to employment protection. The argument is that firms have found it financially more viable to invest in capital investment rather than workers. The flip of this is that the UK has been forced to rely on cheaper labour. This then links back to the unequal wage growth. Whilst you can argue France has higher levels of productivity it comes with 10% unemployment and youth unemployment over 24%. You can see the differences reflected in labour costs where we are cheaper than France and Germany.
Interesting times from an economists view point. |  | | |
| May and Juncker on 10:43 - May 2 with 2178 views | BrianMcCarthy |
| May and Juncker on 17:56 - May 1 by RosieG |
Most of the tw ats on here are Gurdian reading lefty Britian haters, they make me want to vomit.
And if the Prime Minister told Junckers to eff off, then I'm proud of her. [Post edited 1 May 2017 18:04]
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Most of the tw@ts may be, but there's really one or two tw@ts and they're Chelsea fans.
Relax! |  |
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| May and Juncker on 10:54 - May 2 with 2167 views | Trance_Trousers |
When was that picture taken, pre or post her becoming PM ? |  |
| Once you`ve had black you never go back......... |
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| May and Juncker on 10:57 - May 2 with 2158 views | BrianMcCarthy |
| May and Juncker on 10:54 - May 2 by Trance_Trousers |
When was that picture taken, pre or post her becoming PM ? |
Pre, Trance. During the Remain campaign. | |
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| May and Juncker on 10:59 - May 2 with 2153 views | hoof_hearted |
| May and Juncker on 09:47 - May 2 by Trom |
That's median real wages not mean real wages.
You are correct about median wages stagnating post credit crunch. Mean wages haven't. So what we are seeing is the top 1% of wages rising but others being left behind.
Interestingly I gave a talk about this a couple of months ago. The pattern is very much the same in the US. If you then go on to map geographically wages you can see a strong correlation between low wage growth and the Brexit voting pattern and the Trump election.
The upshot of the talk was that we have whole groups of society that have been left behind by the recovery who are feeling angry and neglected and certainly let down by the political classes.
In my view the issues that the UK and many other developed nations have is that of inequality rather than that of low growth. There have been a few economics articles published recently that talk of large parts of society rejected the market based (monetarist and Austrian) schools of economics that have dominated from the 1980s.
Productivity has been an issue in the UK for decades. Sometimes we close that gap with other G6 members and sometimes it widens. Post 2008 it has widened largely due to the banking sector and oil industries suffering. It is however increasing. There are arguments that productivity in France and Germany outstrip the UK due to employment protection. The argument is that firms have found it financially more viable to invest in capital investment rather than workers. The flip of this is that the UK has been forced to rely on cheaper labour. This then links back to the unequal wage growth. Whilst you can argue France has higher levels of productivity it comes with 10% unemployment and youth unemployment over 24%. You can see the differences reflected in labour costs where we are cheaper than France and Germany.
Interesting times from an economists view point. |
The youth unemployment in most of the Eurozone must be the biggest threat to it, don't you think? The "youth" of 2007 are now nearing 30 years old and so the "youth" is now a sizeable chunk of the adult population with nothing to lose. In a different era a war would have been around sooner or later to kill them but now the risk of major civil unrest in pursuit of a revolution is very real.
February 2017 youth unemployment in Europe:-
Greece 45.2%
Spain 41.5%
Italy 35.2%
France 23.6%
Germany 6.6%
Do you think the Euro currency can survive with these differences without full unification? |  | | |
| May and Juncker on 11:05 - May 2 with 2140 views | Trance_Trousers |
Good that she has then chosen to uphold an important pillar that this country is built on, that being democracy. Just a shame a few more here and abroad don`t seem to understand the concept. | |
| Once you`ve had black you never go back......... |
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| May and Juncker on 11:15 - May 2 with 2116 views | QPR_Jim |
| May and Juncker on 11:05 - May 2 by Trance_Trousers |
Good that she has then chosen to uphold an important pillar that this country is built on, that being democracy. Just a shame a few more here and abroad don`t seem to understand the concept. |
Are the "surrender monkeys", as RosieG likes to call them, not giving in quick enough? Are they continuing to fight on, exactly like Farage said he would? |  | | |
| May and Juncker on 11:29 - May 2 with 2102 views | Trance_Trousers |
Sorry Jim i don`t understand your point. | |
| Once you`ve had black you never go back......... |
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| May and Juncker on 11:34 - May 2 with 2098 views | Trom |
| May and Juncker on 10:59 - May 2 by hoof_hearted |
The youth unemployment in most of the Eurozone must be the biggest threat to it, don't you think? The "youth" of 2007 are now nearing 30 years old and so the "youth" is now a sizeable chunk of the adult population with nothing to lose. In a different era a war would have been around sooner or later to kill them but now the risk of major civil unrest in pursuit of a revolution is very real.
February 2017 youth unemployment in Europe:-
Greece 45.2%
Spain 41.5%
Italy 35.2%
France 23.6%
Germany 6.6%
Do you think the Euro currency can survive with these differences without full unification? |
A huge issue. Eurozone unemployment has been falling but youth unemployment hasn't really. The Neet issue (Not in education, employment or training), is going to be a massive issue especially for countries like Portugal, Spain, Italy and Greece. Essentially you are going to have a whole disenfranchised generation which will lead to political instability.
Then on the flip you have Germany with export surpluses, low unemployment and solid GDP growth.
The main issue is trying to have one monetary policy covering so many disparate countries with differing structural issues. The ECB has moved against German wishes by introducing quantitative easing but 8+ years after the UK. Running expansionary fiscal policy is off the table for most countries as government debt to GDP ratios remain alarmingly high for many Eurozone countries essentially meaning large amounts of government borrowing is not an option.
All in all not a pretty picture globally right now. | | | |
| May and Juncker on 12:00 - May 2 with 2065 views | Silverfoxqpr |
| May and Juncker on 21:22 - May 1 by RosieG |
I saw one at my local airport a few year ago, an amazing machine, that thankfully got shot down in large numbers by our Spitires over the Med and killed many Nazi's [Post edited 1 May 2017 21:35]
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Bloody Polish, coming over here and flying our Spitfires and Hurricanes for us, it's bang outta order bruv! |  | | |
| May and Juncker on 12:03 - May 2 with 2055 views | BrianMcCarthy |
| May and Juncker on 11:05 - May 2 by Trance_Trousers |
Good that she has then chosen to uphold an important pillar that this country is built on, that being democracy. Just a shame a few more here and abroad don`t seem to understand the concept. |
Ya, I agree. It's her job, after all. | |
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| May and Juncker on 12:31 - May 2 with 2014 views | LunarJetman |
| May and Juncker on 12:00 - May 2 by Silverfoxqpr |
Bloody Polish, coming over here and flying our Spitfires and Hurricanes for us, it's bang outta order bruv! |
Yeah bloody Polish airmen, fighting over the skies of Britain to defend the freedoms the Brexiters want them gone from the country to protect.... |  | | |
| May and Juncker on 12:46 - May 2 with 1962 views | hopphoops |
| May and Juncker on 21:22 - May 1 by RosieG |
I saw one at my local airport a few year ago, an amazing machine, that thankfully got shot down in large numbers by our Spitires over the Med and killed many Nazi's [Post edited 1 May 2017 21:35]
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Our boys in the air, keeping Ibiza British. |  |
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| May and Juncker on 13:01 - May 2 with 1936 views | Trance_Trousers |
| May and Juncker on 12:31 - May 2 by LunarJetman |
Yeah bloody Polish airmen, fighting over the skies of Britain to defend the freedoms the Brexiters want them gone from the country to protect.... |
Total rubbish sorry.
Brexit is about controlling our borders, and allowing those who can bring important skills to the UK, and that includes people from all over the globe, to come here.
It`s as simple as that. | |
| Once you`ve had black you never go back......... |
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| May and Juncker on 14:08 - May 2 with 1841 views | Pommyhoop |
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| May and Juncker on 14:10 - May 2 with 1839 views | Trom |
An interesting article by the ONS.
The gap between rich and poor disposable incomes has narrowed due to taxation and benefits according to that but only recently. The figures are also being distorted by retirees according to the bulletin. Pensioners have seen disposable income growth of 3.8% over the period discussed in the report and most pensioners fall into the lower bands.
Removing retirees then it states median income is still 1.2% below post crisis levels. So that's a decade of stagnant wage growth for the majority.
Also that's earnings broken into 20% bands. What would be interesting is to see the distribution in that top band. I suspect we would see that the top 5% had strong growth largely due to investment income and the bottom of the top band relying on employment as the main source of income would show a decline due to higher taxation.
Upshot from the article seems to be pensioners have done ok and workers have not. | | | |
| May and Juncker on 14:18 - May 2 with 1825 views | 2Thomas2Bowles |
Isn't the Schengen agreement about controlling borders and keeping the rest of the world out unless they pay a toll.
Seems to me GB is a lot less racist than the rest of the EU... just a thought....
Apart from Germany that for their good only, pissed that up the wall... Have they started building camps again. [Post edited 2 May 2017 14:22]
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| May and Juncker on 16:09 - May 2 with 1732 views | RangersDave |
| May and Juncker on 21:04 - May 1 by HantsR |
Bit of a Fokker really?
edit, before anyone points it out, I know it's a JU 52! [Post edited 1 May 2017 21:07]
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Actually, no it's not! |  |
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| May and Juncker on 18:05 - May 2 with 1647 views | TacticalR |
@FDC 'Productivity and GDP/capita. I stand corrected on this being in decline per se but I think I'm right in saying productivity remains low compared to pre 2008, and perhaps more importantly within the context of assessing how Britain compares to the EU27, it is way behind France, Germany.'
You are right. I posted about this in July last year when people were trying to work out whether Brexit was a good or a bad thing based on the daily fluctuations of the stock market or the exchange rate of the pound (the 2014 productivity estimates were the latest available at the time):
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I think it's important to study the deeper decay of the British economy rather than the daily fluctuations of the stock market.
'First estimates for 2014 suggest that output per hour in the UK was 20 percentage points below the average for the rest of the major G7 advanced economies, the widest productivity gap since comparable estimates began in 1991'
'UK productivity in 2014 was...lower than that of France, Germany and the US by 32-33 percentage points'
International Comparisons of Productivity - First Estimates: 2014 (Office for National Statistics, 18 September 2015)
http://www.ons.gov.uk/economy/economicoutputandproductivity/productivitymeasures
'Many countries have suffered a productivity slowdown since the financial crisis, but the UK’s experience has been particularly bad: its workers are now 14 per cent less productive than they would have been if the pre-crisis growth trend had continued.'
UK productivity falls by most since financial crisis (FT, 7 April 2016)
http://www.ft.com/cms/s/0/e8b0639c-fcaa-11e5-b5f5-070dca6d0a0d.html
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Original thread and post here:
http://www.fansnetwork.co.uk/football/queensparkrangers/forum/173570/page:50 |  |
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| May and Juncker on 19:35 - May 2 with 1587 views | HantsR |
| May and Juncker on 16:09 - May 2 by RangersDave |
Actually, no it's not! |
I wondered who would spot that
... it's actually a Casa 352 |  | | |
| May and Juncker on 19:39 - May 2 with 1576 views | johncharles |
| May and Juncker on 13:01 - May 2 by Trance_Trousers |
Total rubbish sorry.
Brexit is about controlling our borders, and allowing those who can bring important skills to the UK, and that includes people from all over the globe, to come here.
It`s as simple as that. |
Total rubbish. You and mother Theresa might think it's simple but it's not. It's very complicated and difficult and it won't be solved by supercilious sound bites. |  |
| Strong and stable my arse. |
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| May and Juncker on 19:44 - May 2 with 1571 views | qprphil |
Just seen, heard, Diane Abbot talking on radio about funding for police. Hasn't got a clue. Every faith in a Labour government, Corbyn and Abbot, more like Abbot and Costello. You would trust her, no way. | | | |
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