UK not economy #11

http://www.iea.org.uk/record.jsp?type=release&ID=171

Back in 1997 the UK was economy number #4,

"These are deeply depressing numbers for those longing for a sustained economic recovery in the United Kingdom. Just when we need to set free and empower the private sector, Britain is moving in precisely the wrong direction. We need reduced taxation, less regulation and a smaller role for government. What we're getting is exactly the opposite"

The UK performs extremely poorly on government spending, scoring just 41.9 out of a maximum 100. According to the report’s authors:

"…the government’s size and spending have grown significantly under successive Labour governments, damaging Britain’s competitive edge. Prime Minister Gordon Brown plunged Britain further into debt at the onset of the recent financial crisis with bank bailouts and stimulus packages."

This is particularly worrying because increased government spending has not improved economic crisis performance. In light of the global financial and economic storm, many advanced economies’ governments have stepped up spending to promote growth and employment. The early evidence is that such spending did not work.

The report provides further evidence that the UK is falling behind her economic competitors, particularly those in the Far-East and Australasia.

Hong Kong (score: 89.7) once again tops international rankings for economic freedom, with Singapore second (on 86.1) and Australia in third spot (82.6).

UK out of recession

UK out of recession

Oh so thats alright then 0.1% = out of recession.... well let me tell you of an old adage

There are lies damned lies and statistics, GDP is massaged, inflation as you may well know is also massaged.

In that GDP is funny, ok I mow your lawn, you mow my lawn, no money is exchanged however this is considered to be economic activity and it is counted in GDP numbers. But how? it just is.

Or GDP also counts how much rent you have to pay even if you are not renting, if you own your home outright GDP estimates how much rent you would have to have paid if you did not own crazy eh?.

Hence GDP may have grown 0.1% but its fake as it is likely to be still below zero, the recession continues unabated, as jobs are still being lost out in the real world....

But wait it gets even worse, the UK government has been printing money zimbabwean style, t hey issue bonds which the Bank of England buys £200bn worth. Zimbabwean style so with 200bn printed money (which is actually taken out of your pocket as it debases your currency) they only managed to acheive 0.1% growth?!.

chris-martenson

Has a good take on this it is well worth an hour of your time to watch ALL of his videos to see the mess that we are all in.

Why working doesn't pay

Work for £15k

Take home pay - circa £960pm
Less petrol, call that £100pm
Parking? Say £5pd = another £100pm
Actual take home = £760 pm
Council tax = £110 pm

Net ~ £650 pm

Live on benefits

Housing benefit - 2 sharing, 50% of the allowance for a 2 bed place round here = £400pm Unemployment benefit = £280pm

Actual take home = £680 pm plus net benefits e.g. council tax benefit

So in essence a £15000 a year job you are £30 Worse off than benefits, what a crazy country we live in eh?

Outrageous job adverts

Job 1, Blimey £6 an hour for London, do people realise just how expensive it is to live and work in London? , even if you commute into London the costs are horrendous. How exactly are people supposed to live in £6 an hour thats £225 GROSS per week or £200 a week after income tax and NIC. Even worse look at the qualifications needed for this job, it takes time to learn any one of those computer programming languages and yet this pays a mere 15pence more than the national minimum wage. Urgh...


Webdesigner for £7 an hour, way back in the dark ages as far as 1997 when my parents first bought me my first PC a mere 166 when pentium CPUs were new having upgraded from 386 systems. Webdesigners made £10 an hour, 13 years on they earn LESS than they did 13 years ago. What on earth happened to inflation at £140 a week you don't even earn enough to pay NIC. Back in 1997, £10 was worth something like £25 due to the net present value factors. There is something wrong with society where wages seem to go backwards, in that its a double whammy in that you get taxed more, paid less AND the pound in your pocket isn't worth as much as it was before.


Are these guys kidding?, 1st degree in computer science, so put yourself in the shoes of a graduate having studied for 3 years grown a massive amount of debt he or she to work for £8 an hour. The people putting up these jobs seem to be utterly deluded. I bet they will cry out for a skills shortage or why can't we get the staff!.


Hmm I think the next pictures will explain the jobs situation very nicely

NMW too much!

What the hell

What the hell? , freeze the NMW to keep people employed? the NMW currently isn't enough to live on what with hikes in bills taxes and rent, how on earth are people supposed to live?.

Sometimes I think victorian work houses never went away.