UK Living standards to plummet to early 21st Century levels..

inspector_monkfish

Bank of England governor Mevyn King said inflation and wage freezes meant take home pay will be equivalent to 2005 levels when all people could afford was loads and loads of stuff.....


http://www.thedailymash.co.uk/news/society/living-standards-plummet-to-early-21st-century-levels-201101263471/

michaels

Its good but you are 75 minutes behind the market - I hope you hadn't put much on the trade:

http://forums.moneysavingexpert.com/showpost.php?p=40616534&postcount=14

pinkteapot

This one's better....

http://www.thedailymash.co.uk/politics/politics-headlines/economy-like-my-scrotum%2c-says-osborne-201101263473/

movilogo

I guess it will be worse than that because in early 21st century

People did not have 10x salary mortgates
Immigration was not that high
Trains were not that crowded
Asian countries were not competing with us and outsourcing was unheard of

The list goes on....

shortchanged_2

But in the words of Tory peer Lord Young, we've never had it so good.

Hsarcgib

What will be the effect on house prices?

PhylPho

Wonderful to see the BoE's Mervyn King looking forward 200 years from his current standpoint somewhere in the 19th Century.

amcluesent

King, not being a politician, clearly feels he has some obligation to tell/hint at the truth.

He did, after all, pretty much tell peeps to pile in index linked a good six months before they were pulled from the market.

The political spinners hate him his straightish talk, remember his aside that the incoming government will be so unpopular as to become unelectable for a generation.

If Merv says things are going to bad, double or treble that warning!

diable

Hsarcgib wrote: »

What will be the effect on house prices?

Going down faster then a hooker in Kings Cross.

Owain_Moneysaver

diable wrote: »

Going down faster then a hooker in Kings Cross.

I hope so ... the lower house prices fall the more likely it is I can buy and escape the private rented sector.

Sorry if that viewpoint is unpopular with some people.

I would also like to point out that I have no idea what the simile means and have no aquaintance with anyone in Kings Cross.

patman99

The BoE does seam to attract it's fair share of doom-mongers to the position of chairman. I remember in 1994 a group of top finacial types including various Proffesors & the then BoE chairman publishing a report that stated 'If Labour win the forthcoming election, it will take them until 2018 to clear-up the debt left by the Conservatives, however, if the Conservatives were to win just 1 more term, then it would take until 2035'