Recording Low Inflation

[Guest TPAFKATS]

I hope those poor Norwegians have some kind of plan b to fall back on...

[erskinebud]

Rubbish. Inflation is low because the economy is under control. The house price bubble that everyone stressed about has calmed down. The price of petrol at the pumps is down almost 30% since the referendum, and that has a kick on effect when it comes to goods in shops as the cost of shipping drops too - as we can all see with falling or stable prices in our supermarkets. Bread for example is down from the standard £1 per 800g to £0.78 per 800g in most supermarkets today.

As for wages this year most people will be getting a wage rise well above inflation thanks to the fact that that inflation is so low. So it's good news for you even if your boss is a tight c**t.

The only people pissed off about it are Labour politicians who are about to get the spanking of their lives in May, and SNP politicians who know it's become increasingly obvious that had Scotland f**ked up and voted the wrong way we'd have been in real deep shit. Fortunately we remained in the UK and we can all enjoy the benefits of a stable and balanced economy.

It'll be all the good news Cameron has to give us re the economy and his party's management of it that has him rushing to the TV studios to show up the other leaders in a public debate then. Same as he did in the autumn with all the great things his government had done for Scotland.

Oh and before anyone gives you the opportunity to do your usual point scoring, we do recognise that some of us could be lucky enough to receive a wage rise "well above inflation" - well this month's inflation anyway - however even a 20% above inflation rise would be a massive 0.6%! Hardly a success story!

[saintnextlifetime]

I hope those poor Norwegians have some kind of plan b to fall back on...

Oh , don't mock , don't mock. .

[Stuart Dickson]

It'll be all the good news Cameron has to give us re the economy and his party's management of it that has him rushing to the TV studios to show up the other leaders in a public debate then. Same as he did in the autumn with all the great things his government had done for Scotland.

Oh and before anyone gives you the opportunity to do your usual point scoring, we do recognise that some of us could be lucky enough to receive a wage rise "well above inflation" - well this month's inflation anyway - however even a 20% above inflation rise would be a massive 0.6%! Hardly a success story!

So let me get this straight - you'd rather have a situation where inflation was at 26% and you were getting pay rises of 20% - as happened back in 1975? Any pay rise above the rate of inflation means you will have more money in your pocket. Many are already benefiting substantially from the long run of low interest rates that we've had under this government, yet now we are seeing a situation where savers can also benefit earning up to 4% interest gross on the market leading Pensioner Bond and for the first time in a long long time they are seeing a proper return for their savings well ahead of inflation.

Why would anyone want to vote for the kind of parties who have a track record of f**king up the economy - or who recently pledged all sorts of public sector spending based on North Sea Oil Prices per barrel more than 200% higher than they are now? Only the Conservatives can be trusted to deliver stability in the economy, growth in the economy, deficit reductions, a welfare plan that gets people back into work and pay rises ahead of inflation.

Edited January 15, 2015 by Stuart Dickson

[Stuart Dickson]

Imagine that, when asked to provide a single bit of proof he can't. I wonder why.

Eat your words....

https://www.gov.uk/government/news/record-breaking-number-of-people-in-jobs

[Stuart Dickson]

Mark Carney seems to agree with him. I said a couple of months ago, when you tried previously to make out Norway was f**ked, that they would have to tighten their belts and dip into the rainy day fund. Pity we can't do that.

You're too busy trying to laugh at the SNP to realise that the falling oil price means more, or a longer period of, austerity cuts for the whole of the UK.

But, anyway, you go from accusing me of saying some thing - then you realise you f**ked up, then you say Norway's in the shit - then realise you f**ked up, then ... see a pattern here?

The main reason inflation is low is because of the fall in oil prices. FFS, you even go on to explain it yourself with all the knock-on effects.

How many times do you need to be told, even if the vote had been Yes, we would still, at this moment in time, be in the UK and so we would be in the exact same position that we are now and be just as f**ked as we are now. At worst it would have meant taking on some extra debt at the split - unless they kept the pound of course, then f**k'em.

Of course they do. You'd have to be some f**ked up, warmongering, flying by the seat of your pants nation not to not have ... ah, I see what you're getting at.

There hasn't been any austerity cuts in the UK. Every budget since the Coalition came to power shows that quite clearly despite the rhetoric, the only cuts that have been made to any budget are those that fall under the description of "government". I've never heard anyone ever - well apart from Nationalists but then they are all f**king bonkers - complain that we should be spending more on politicians and the cost of parliament.

The rest of your post just shows how ridiculous you've become. Last night you couldn't read Oaksofts post, tonight you are claiming Mark Carney seems to be agreeing with him. For the record Mark Carney told Robert Peston on the BBC that the low inflation rate was "Good News for the average British household". If you listen to his interview he also says that the Bank of England have the capability to bring inflation back up to 2% over a two year period if necessary.

Since you are so interested in what Mark Carney is saying can I also point you in the direction of this from yesterdays meeting with MP's. As you will see he's highlighted the fact that falling oil prices will be a negative shock on the Scottish economy but that it's substantially mitigated by the fiscal arrangements in the UK where falling oil prices are a "net positive" for the UK on the whole. In other words Mark Carney is saying EXACTLY what I was saying several months ago on this forum when oil prices started to tumble.

Norway are fortunate they have an oil fund to fall back on. Even with that though their currency is in freefall against the Dollar. Had Scotland voted in favour of Independence we would not have had the same cushioning effect and the country would be in fiscal freefall as I, and the vast majority of Scottish voters, predicted prior to the referendum. Only those who are economically illiterate - like John Swinney, Alex Salmond, you and the group of Scots who seem to think they won the referendum despite only getting 45% of the vote couldn't see the oncoming catastrophe which thankfully was averted. You owe a huge debt of gratitude to people like me but don't worry, a simple thanks will do.

Edited January 15, 2015 by Stuart Dickson

[salmonbuddie]

Eat your words....

https://www.gov.uk/government/news/record-breaking-number-of-people-in-jobs

Like I said, and you ignored, 'employment' is provable. Now substantiate the 'gainful' part of your original claim. How many of these additional jobs are zero-hour contracts? Edited January 15, 2015 by salmonbuddie

[beyond our ken]

just so everyone knows, the recent low inflation results are a short term snapshot with the fall mostly attributable to energy prices and lower demand.

I have a recent memo from Scottish Engineering with the following

pay rises in scotland fell to 1.74% in the 3 months up to the end of november

In the whole UK economy, pay rises in the last 3 months were 1.6% (excluding bonuses)

RPI for the 12 month = 2%

RPIX = 2%

So in the quarter, pay was lagging behind the annual rate of inflation

A whole year of inflation running higher than earnings rises cannot be wiped out by a month of low oil prices-so how are we better off? And how many people have fixed their energy prices against the mid-year prices of 2014? How can they be better off?

Edited January 15, 2015 by beyond our ken

[Stuart Dickson]

Like I said, and you ignored, 'employment' is provable. Now substantiate the 'gainful' part of your original claim. How many of these additional jobs are zero-hour contracts?

I don't know how many of these jobs are zero hour contracts but I do know that regardless these jobs are still gainful employment.

For example - my eldest son. 21 years old and at university. Everyone knows my views on workshy students and will probably appreciate that there was no way any child of mine would have a four year lazy spell at my expense. To his credit he has THREE zero hour contracts. It suits him as he can accept or reject hours depending on his coursework or his athletic competitions. Is it gainful? Well he paid cash for his first car - a brand new Vauxhall - with his own earnings, he's flown to Canada four times and he seems to be happy paying silly money for clothes. I'd say it's gainful

[oaksoft]

What the f**k are you gibbering about regarding Oaksoft's post? Of course I read it. You, on the other hand, just demonstrated your inability to read (again). He said "Inflation this low" not "low inflation".

Exactly. TBH I just couldn't be bothered arguing with him on that score.

In fairness it's not just on here that this happens. It's on P&B as well.

You take your time to make sure your words are precise and it makes no difference.

You wait less than 1 hour before some utter numpty jumps all over your words, twisting them and taking them out of context.

It's either stupidity on their part or they somehow think it's cool to attempt to wind people up.

For every considered post you make, you waste another 20 posts trying to explain to someone why they've misunderstood you. Either way it's tedious and it ruins a potentially great medium - internet forums.

As I get older I find it more and more difficult to find the patience for these people.

Mistakes are human - we all do it and there's not an issue.

Repeated stupidity though?

Can't be arsed with it.

[salmonbuddie]

I don't know how many of these jobs are zero hour contracts but I do know that regardless these jobs are still gainful employment.

For example - my eldest son. 21 years old and at university. Everyone knows my views on workshy students and will probably appreciate that there was no way any child of mine would have a four year lazy spell at my expense. To his credit he has THREE zero hour contracts. It suits him as he can accept or reject hours depending on his coursework or his athletic competitions. Is it gainful? Well he paid cash for his first car - a brand new Vauxhall - with his own earnings, he's flown to Canada four times and he seems to be happy paying silly money for clothes. I'd say it's gainful

That's one, and entirely anecdotal. Now demonstrate that the rest of the zero-hour contracts making up the record employment figures are 'gainful'.

[FTOF]

just so everyone knows, the recent low inflation results are a short term snapshot with the fall mostly attributable to energy prices and lower demand.

I have a recent memo from Scottish Engineering with the following

pay rises in scotland fell to 1.74% in the 3 months up to the end of november

In the whole UK economy, pay rises in the last 3 months were 1.6% (excluding bonuses)

RPI for the 12 month = 2%

RPIX = 2%

So in the quarter, pay was lagging behind the annual rate of inflation

A whole year of inflation running higher than earnings rises cannot be wiped out by a month of low oil prices-so how are we better off? And how many people have fixed their energy prices against the mid-year prices of 2014? How can they be better off?

You'll not get a reply from Fatty.

Unbelievably his numerical skills are even poorer than his level of literacy.

Edited January 15, 2015 by FTOF

[Stuart Dickson]

just so everyone knows, the recent low inflation results are a short term snapshot with the fall mostly attributable to energy prices and lower demand.

I have a recent memo from Scottish Engineering with the following

pay rises in scotland fell to 1.74% in the 3 months up to the end of november

In the whole UK economy, pay rises in the last 3 months were 1.6% (excluding bonuses)

RPI for the 12 month = 2%

RPIX = 2%

So in the quarter, pay was lagging behind the annual rate of inflation

A whole year of inflation running higher than earnings rises cannot be wiped out by a month of low oil prices-so how are we better off? And how many people have fixed their energy prices against the mid-year prices of 2014? How can they be better off?

Oh dear, you should have read this before you posted

http://en.wikipedia.org/wiki/Consumer_price_index

It is indeed a snapshot. It's an annual comparison so the recent figures show that this year consumers are being charged 0.5% more than they were at this point last year. Now similarly if you are getting a 1.74% pay rise that means you are getting 1.74% more in your wage packet than you did last year. That is inflation bursting and you should be delighted. The fact that in October last year prices were 2% higher than in October 2013 isn't really relevant at all and you'd know that if you were in any way economically literate

[Stuart Dickson]

That's one, and entirely anecdotal. Now demonstrate that the rest of the zero-hour contracts making up the record employment figures are 'gainful'.

How are they not gainful? Even on a zero hour contract staff have to be paid for what they work

Another example tonight though. The cleaner in my work - zero hour contract - works 20 hours per week for us and she says she needs the money because she's going on holiday to Greece in three months time. Her son is on a zero hour contract at McVities - personally I didn't know they had a factory up here but apparently they do. He's got a zero hour contract and has to phone them in every morning to find out if he's needed for the night shift that night. She tells me he's got no qualifications, no experience and no training but he earns around £70 per night clear of tax for each shift he does. Some weeks he gets one night, some he works 5 or 6. Each week he's earning more than he would have done on the dole.

Getting people into jobs and off benefits is clearly a huge step in the right direction and the coalition government has achieved exactly that over the last 5 years. It's really quite simple. Anyone with a brain in their head should be voting Conservative in May because that's the only party that can clearly demonstrate it understands the economy.

[erskinebud]

So let me get this straight - you'd rather have a situation where inflation was at 26% and you were getting pay rises of 20% - as happened back in 1975?

Only the Conservatives can be trusted to deliver stability in the economy, growth in the economy, deficit reductions, a welfare plan that gets people back into work and pay rises ahead of inflation.

On your second point, please tell me when they start to deliver the things you quote as I have yet to see any evidence that they are even aware of what is happening to those outside the SE of England.

On the first point, yes I'd rather the situation was like 1975 - that was the year I lost my virginity!

[Stuart Dickson]

On your second point, please tell me when they start to deliver the things you quote as I have yet to see any evidence that they are even aware of what is happening to those outside the SE of England.

On the first point, yes I'd rather the situation was like 1975 - that was the year I lost my virginity!

Last time you had sex more like.....

As I've already shown we have record numbers of people in employment, and the UK deficit has been reduced year on year. I like many others would have preferred the Chancellor to have made proper cuts in public sector services to get our annual budget back into surplus to allows us to start wiping out the debt that the last Labour government left us with but he's had to deal with a really weak Europe so perhaps slower progress than was wished was inevitable.

[saintnextlifetime]

Did your mother never tell you that you shouldn't mock the afflicted?

No, neither did mine.

Have you read it Slati' ?

Volume 2 is out now. .

[Stuart Dickson]

I see you've changed from what you originally wrote. I take it you were lying again as you haven't said you may have made a mistake?

But then again what do you expect from a proven lying bigot.

huh?

[erskinebud]

Last time you had sex more like.....

As I've already shown we have record numbers of people in employment, and the UK deficit has been reduced year on year. I like many others would have preferred the Chancellor to have made proper cuts in public sector services to get our annual budget back into surplus to allows us to start wiping out the debt that the last Labour government left us with but he's had to deal with a really weak Europe so perhaps slower progress than was wished was inevitable.

Descended to personal abuse now, eh?

To disprove your rather condescending comment I have three sons, two of whom have Masters qualifications while the third is at High School. The oldest boy is currently on 2 zero hour contracts and one of those employers insists he has to be available for work at any time and have no other "employer". If they find out about the other contract, he will lose them as an employer - might be no great loss as they deigned to give him a total of 14 hours work last month! Try getting on the property ladder on that monthly salary. In fact, try getting even a mobile phone contract on that salary! He has no option but to continue to live at home with us funding him.

My middle son has had to leave the country to get "gainful employment" in his chosen career path, as again, he sought employment here and could only get low paid, minimum/zero hours contracted jobs in bars.

Hopefully the third will find a more caring, socially just society when he leaves school, graduates from University and takes up a career where the balance is a more equitable one between employers and employees. This is highly unlikely under a system where everything is geared to grow and develop a couple of square miles of London.

[Stuart Dickson]

Descended to personal abuse now, eh?

To disprove your rather condescending comment I have three sons, two of whom have Masters qualifications while the third is at High School. The oldest boy is currently on 2 zero hour contracts and one of those employers insists he has to be available for work at any time and have no other "employer". If they find out about the other contract, he will lose them as an employer - might be no great loss as they deigned to give him a total of 14 hours work last month! Try getting on the property ladder on that monthly salary. In fact, try getting even a mobile phone contract on that salary! He has no option but to continue to live at home with us funding him.

My middle son has had to leave the country to get "gainful employment" in his chosen career path, as again, he sought employment here and could only get low paid, minimum/zero hours contracted jobs in bars.

Hopefully the third will find a more caring, socially just society when he leaves school, graduates from University and takes up a career where the balance is a more equitable one between employers and employees. This is highly unlikely under a system where everything is geared to grow and develop a couple of square miles of London.

If you want to call what you do in your sex life "personal abuse" who am I to stop you....

Look, if you don't mind me saying I think you are looking at your kids from the wrong angle. Sure we all want them out of our houses and into places of their own as soon as possible, but as you've described it, it's a ladder. Take it one rung at a time.

Your first two sons appear to have put their feet on the first rung of the ladder. Both have jobs. That's a positive surely, yet you are posting on here in a rather negative and dismissive manner of the opportunities that have presented themselves to your lads. Their jobs might not be all that they, or you, expected but they've got their opportunity to prove their work ethic and commitment to a task. I hope they take it, and I'm sure that if they do they'll do more than fine in life. What they've got now is certainly better than sitting on the dole.

[salmonbuddie]

So, in short, because you, StuD, think it's better then it must be better.

Kind of sums you up, tbh.

[Stuart Dickson]

So, in short, because you, StuD, think it's better then it must be better.

Kind of sums you up, tbh.

I can't believe anyone would argue with that. How can it possibly be better to have kids sitting on the dole? Ach don't bother answering. I get it. You're a bitter twisted nationalist who wishes only pain and suffering on Scots whilst the country remains in the Union

[bluto]

So, in short, because you, StuD, think it's better then it must be better.

Kind of sums you up, tbh.

To be fair, (I know, In know....) I also think erskinebud's lads are doing the right thing.

I also left the country when I saw there wasn't the opportunities that I sought, in Scotland. I lived in many squalid hovels cos it was all I could afford AND I spent times kipping on floors of other folk's flats.

I'm amazed that youngsters won't even countenance not owning their own place for years. That used to be the norm.

I did a variety of shite jobs for dreadful wages (so low in one job that a guy in Paisley Buroo filled in forms for me to get a wee supplementary payment for 20 weeks!) and eventually I did ok.

There is no cast-iron guarantee that life will ever be easy or straightforward.

ETA: Just thought I'd add that I have been working on a 'zero hours contract' for 5 years now. It must be awful when you depend upon it. It suits me - I just do the work, if it suits me to do so. The company would like me to commit to more - so for them it's not so good... other than that they need offer no holiday pay, no sickness entitlement, no pension rights or other such goodies.

Edited January 16, 2015 by bluto

[oaksoft]

Descended to personal abuse now, eh?

To disprove your rather condescending comment I have three sons, two of whom have Masters qualifications while the third is at High School. The oldest boy is currently on 2 zero hour contracts and one of those employers insists he has to be available for work at any time and have no other "employer". If they find out about the other contract, he will lose them as an employer - might be no great loss as they deigned to give him a total of 14 hours work last month! Try getting on the property ladder on that monthly salary. In fact, try getting even a mobile phone contract on that salary! He has no option but to continue to live at home with us funding him.

My middle son has had to leave the country to get "gainful employment" in his chosen career path, as again, he sought employment here and could only get low paid, minimum/zero hours contracted jobs in bars.

Hopefully the third will find a more caring, socially just society when he leaves school, graduates from University and takes up a career where the balance is a more equitable one between employers and employees. This is highly unlikely under a system where everything is geared to grow and develop a couple of square miles of London.

No way am I about to take Dickson's side on anything but it's definitely better for your sons to be working in these roles than not working at all.

My kids have been or are in a similar-ish position as was I when I first graduated.

I appreciate your kids have Masters degrees but you don't say in which subject or at what grade.

In a country absolutely drowning in people with degrees this is crucial.

Certainly nobody who has a 1st Class or Distinction in a maths, science or engineering degree should be struggling to find good, high paid permanent work (can't talk about other degree subjects). Beyond that you are into what employers call "the obligatory 2:1" territory (their words not mine) and there are many tens of thousands added to that category each year in the UK. Beyond that you are in the dreaded 2:2 or 3rd category which accounts for another vast swathe of people.

It can be impossible to stand out in this thundering herd. Menial jobs are getting rapidly filled by people with degrees. I'm speaking from personal past experience.

Both your kids and my kids need to at least be aware of this sort of thing. It's very tough.

Your sons won't be in this situation forever (just like my own situation) but it may not be their degree which gets them ahead. They should consider all the options. Every job has a career path if you look for it.

Edited January 16, 2015 by oaksoft

[bluto]

No way am I about to take Dickson's side on anything but it's definitely better for your sons to be working in these roles than not working at all.

My kids have been or are in a similar-ish position as was I when I first graduated.

I appreciate your kids have Masters degrees but you don't say in which subject or at what grade.

In a country absolutely drowning in people with degrees this is crucial.

...............................................

Both your kids and my kids need to at least be aware of this sort of thing. It's very tough.

Your sons won't be in this situation forever (just like my own situation) but it may not be their degree which gets them ahead. They should consider all the options. Every job has a career path if you look for it.

Wow!

"Oxster posts sensibly" shocker!!!!