asterisk2a + discretionary + credit   102

(112) Renegade Inc. & What to expect in 2018 - YouTube
UK BOE QE trap - the road to normalisation - without counter engagement (productive investment), and further Austerity, tax evasion, inequality, income gap, secular stagnarion, less money to spend for the average joe === very bumpy uncertain ride. ... and add Brexit even more uncertainty. OUCH. real growth for real people not gonna happen. // see also RAWerden Richard Andreas Werner for bank reform (local non-profit et al) // also consumers will hold back. especially w trickle down of bad news. job losses here and there retail inflation wage growth etc. creating a impression of a malaise especially for the 50% who voted remain. and 30% who didnt go vote. // see also news 8or7 out of 10 workers broke/permanently skinned - and consumer debt at 2008 high //
BOE  QE  trap  Richard  Koo  UK  Austerity  productive  investment  underinvestment  productivity  Brexit  Steve  Keen  book  RAWerner  debt  bubble  asset  alternative  WallStreet  GDP  output  gap  uncertainty  2018  business  consumer  confidence  fiscal  policy  NHS  monetary  Carillion  PFI  disposable  income  discretionary  spending  credit  malaise  secular  stagnation  stagflation 
february 2018 by asterisk2a
Homebase owners may close up to 40 stores - BBC News
[first the supermarkets, then everyone else, also UK restaurant trade struggling, especially mid-market! anything above your payday takeout, also housing growth is slowing down thus DIY ] UK retailers are struggling in the face of rising inflation and fragile consumer confidence.

Several store chains have announced job cuts recently, including supermarket giants Tesco, Sainsbury's and Asda.

Homebase's rival, B&Q, last week said it was cutting 200 jobs at its head office in Hampshire as part of a cost-cutting drive. &! https://www.theguardian.com/business/2018/feb/05/uk-services-sector-growth-falls-hotels-restaurants-brexit - Demand weakens for services such as restaurants and hotels amid ongoing Brexit uncertainty
UK  Brexit  disposable  income  economy  discretionary  spending  growth  wage  Productivity  High  Street  Precariat  working  poor  poverty  trap  social  mobility  pay  rise  inflation  broke  household  debt  credit  card  leverage  recovery  secular  stagnation  history  GFC  Austerity  underinvestment  output  gap  HighStreet  Services  Service 
february 2018 by asterisk2a
UK's low pay culture traps people in poorly paid jobs, study finds | Society | The Guardian
http://www.bbc.co.uk/news/business-41669991 - high tech, low life. // in-work poverty, gini coefficient takes into account pensioners. // “Britain has one of the highest proportions of low-paid work in the developed world. And while three-quarters of low-paid workers did manage to move into higher-paying roles at some point over the past decade, the vast majority couldn’t sustain that progress. This lack of pay progress can have a huge scarring effect on people’s lifetime living standards. [...] “Britain’s flexible workforce gives us global economic advantage but a two-tier labour market is now exacting too high a social price.
OECD  poverty  trap  social  income  mobility  Precariat  class  UK  zero  hour  contracts  part-time  Exploitation  neoliberalism  workers  trade  union  rights  skills  skill  gap  Productivity  output  London  economic  history  recovery  GFC  underinvestment  stagflation  secular  stagnation  Austerity  education  inequality  tax  credit  taxcredit  gini  Coefficient  standard  of  living  Brexit  inflation  disposable  discretionary  spending  debt  household  child  profit  maximisation  competitiveness  IMF 
october 2017 by asterisk2a
Brooks and Klein on Tom Price’s plane scandal, Trump taking aim at the NFL - YouTube
Culture and Identity Politics again Tribalism, Patritotism, Nationalism, Militarism, // see how neoliberal capitalism has destroyed fabric of society w individualism consumerism identity - Alain De Botton and Adam Curtis. When you can't consumer, and do culture, and only have tv as (and fb newsfeed) as window to the world to see the world experience the world - you dont take part in society - Kulturteilhabe. dann willst du AfD Brexit Trump. them v us. // nfl is epitome of culture war identity politics and post-racial america - resistance!
Culture  Identity  Politics  DonaldTrump  Donald  Trump  Brexit  AfD  history  post-racial  America  Religion  Liberalism  Liberal  LGBT  Society  Gesellschaft  Capitalism  Consumer  Consumerism  consumerist  Selbstdarstellung  Kulturteilhabe  Facebook  Newsfeed  TV  MSM  poverty  trap  squeezed  middle  class  Precariat  debt  credit  card  chronic  stress  self-medication  book  war  refugee  migration  immigration  social  income  mobility  secular  stagnation  growth  disposable  discretionary  spending  GFC  bank  bailout  double  standard  tax  evasion  avoidance  Career  Politicians  status  quo  neoliberal  neoliberalism  Konsum  accountability 
september 2017 by asterisk2a
Falling unemployment is great for the economy? Try telling cleaners like Irene | Stefan Baskerville | Opinion | The Guardian
While UK unemployment fell by 75,000 in the three months to July, bringing the jobless rate down to 4.3%, these figures disguise a disturbing trend in the British labour market – one of falling wages, rising insecurity and false self-employment. At the New Economics Foundation, we carried out research that shows two in every five people employed in the UK are in “bad jobs” – work that doesn’t provide a secure, living wage.
UK  working  poor  Precariat  Austerity  Self-Employment  zero  hour  contract  part-time  child  credit  tax  insecurity  job  Productivity  underinvestment  skill  gap  disposable  income  discretionary  spending  consumer  debt  household  zero-hour  on-demand  profit  maximisation  living  standard  wage  growth  inflation  secular  stagnation  GFC  recovery  poverty  trap  Deprivation  mental  health  chronic  stress 
september 2017 by asterisk2a
Hillary Clinton's book has a clear message: don't blame me | Thomas Frank | Opinion | The Guardian
She seems to have been almost totally unprepared for the outburst of populist anger that characterized 2016, an outburst that came under half a dozen different guises: trade, outsourcing, immigration, opiates, deindustrialization, and the recent spectacle of Wall Street criminals getting bailed out. It wasn’t the issues that mattered so much as the outrage, and Donald Trump put himself in front of it. Clinton couldn’t. [...] But by and large, Clinton’s efforts to understand populism always get short-circuited, probably because taking it seriously might lead one to conclude that working people have a legitimate beef with her and the Democratic party. &! http://www.bbc.co.uk/news/world-us-canada-41244474 &! https://www.theguardian.com/us-news/2017/sep/12/hillary-clinton-supporters-memoir-book
Thomas  Frank  book  HRC  Hillary  Clinton  HillaryClinton  Populism  presidential  election  2016  Donald  Trump  DonaldTrump  Democrats  Dems  BernieSanders  Bernie  Sanders  far-right  right-wing  Capitalism  neoliberalism  neoliberal  Exploitation  American  Dream  post-racial  America  secular  stagnation  wage  income  growth  Productivity  GFC  bailout  recovery  disposable  working  poor  discretionary  spending  credit  card  corruption  transparency  accountability  NAFTA  TPP  TTIP  CETA  double  standard  TBTF  Justice  System  technocrats  technocracy  Austerity 
september 2017 by asterisk2a
UK pay squeeze breaks all sorts of records for all the wrong reasons | Larry Elliott | Business | The Guardian
As John Philpott, who runs the Jobs Economist consultancy, noted: “What’s remarkable is that pay growth, however measured, is so weak at a time when employment is at joint record rate of 74.8% and unemployment at a 42-year low of 4.6%, driven almost entirely in the latest quarter by relatively strong growth in full-time jobs for employees on permanent contracts. Hard times and near full employment make strange bedfellows, highlighting the extent to which a deregulated labour market with an abundance of workers available to fill low wage vacancies has altered the UK jobs landscape.”
UK  Brexit  GE2017  Austerity  wage  income  growth  inflation  living  standard  disposable  discretionary  spending  creditcard  credit  card  household  debt  personal  loan  secular  stagnation  GFC  recovery  bank  bailout  inequality  poverty  trap  tax  evasion  avoidance  taxation  capital  investment  economic  history 
june 2017 by asterisk2a
Yes this really is the end of Tory austerity – because it was never about economics in the first place | The Independent
[private sector will pick up the tap - the households did, but not corporations! bc long-term ROI growth in not attractive in the west w secular stagnation! see Richard Koo ] But it was a very long time coming. It became clear within a year of George Osborne’s 2010 “emergency budget”, which forced through huge cuts in capital budgets and an intense squeeze on Whitehall departments and welfare spending, that the austerity medicine was hurting, not helping.

The economy was flatlining, teetering on the verge of recession. Whether this was primarily due to the crisis in the neighbouring eurozone and a spike in global oil prices or because the negative knock-on impact of the government’s domestic spending cuts was bigger than initially thought is still debated by economists.
Austerity  Brexit  GE2017  Confidence  Fairy  GFC  bank  bailout  welfare  state  living  standard  deficit  debt  government  household  personal  loan  credit  card  creditcard  underinvestment  inequality  economic  history  social  mobility  income  growth  wage  disposable  discretionary  spending  gini  coefficient  tax  evasion  avoidance  taxation  corporate  taxcut  capital  labour  Productivity  output  gap  recovery  secular  stagnation  infrastructure  investment  Privatisation  Theresa  May  George  Osborne  David  Cameron  Ideology  neoliberal  neoliberalism  ZIRP  NIRP  QE  bond  bubble  asset  reflation  housing  distortion  malinvestment  stimulus  Tories  nasty  party  Conservative  RichardKoo  Koo  Richard 
june 2017 by asterisk2a
First fall in consumer spending for almost 4 years
Consumer spending has fallen on an annual basis for the first time in almost four years [...] Adjusting for inflation, real consumer spending by British consumers on Visa debit, credit and prepaid cards in May was 0.8 per cent lower than in the same month last year. Visa said that seasonally adjusted spending was 1.8 per cent lower in May compared to April. The figures are unofficial, but suggest that sluggish economic growth continued in the second quarter, after a first quarter in which the UK grew at the slowest rate in the G7. [...] household consumption, which accounts for more than 60 per cent of the economy. [ 80 Services and Consumption 20 manufacturing ] /&! http://www.telegraph.co.uk/business/2017/06/11/new-economic-woes-put-theresa-may-fresh-pressure/ - The crucial services sector stands on the brink of a contraction
UK  Brexit  GE2017  Consumer  Confidence  creditcard  credit  card  discretionary  spending  disposable  income  inflation  living  standard  wage  growth  recession  Economy  2017  secular  stagnation  deflation  deflationary  BOE  ZIRP  QE  NIRP  Austerity  Services  materialism  Shopping  Consumerism  consumerist  household  debt  mortgage  Manufacturing 
june 2017 by asterisk2a
Car finance deals soar to new record - BBC News
The Bank of England and the Financial Conduct Authority (FCA) have raised concerns about such deals.
The Bank's worry is in relation to levels of consumer borrowing.
However Adrian Dally, head of motor finance at the FLA, said lenders were behaving responsibly.
"We do not share their concerns," he told the BBC. "Lending is responsible. This is a sustainable model going forwards." [...] That is largely because motorists can hand their cars back if they can no longer afford payments.
Ultimately it is the car manufacturers who carry the risk on such deals, as they guarantee second-hand values.
UK  consumer  debt  household  borrowing  creditcard  discretionary  spending  disposable  income  Brexit  confidence  credit  card  auto  loan  car  lease  protection  BOE  wage  growth  inflation  economy  FCA  squeezed  middle  class  working  poor  Precariat  bubble  automotive  industry  insolvency 
may 2017 by asterisk2a
What Next tells us about shopkeepers' woes - BBC News
more online shopping, less high street (high street had to be profitably managed down). More spending on experience.
Brexit  inflation  High  Street  Amazon  on-demand  Mainstreet  HighStreet  discretionary  spending  disposable  income  wage  growth  household  debt  consumer  credit  card  creditcard  UK  private  borrowing 
march 2017 by asterisk2a
Here's Why A Slowdown In Earnings For The Top 1% Is A Problem For The UK - BuzzFeed News
“Fifteen years without a pay rise,” IFS director Paul Johnson said. “I’m rather lost for superlatives. This is completely unprecedented.” [...] If the top earners make less, the government brings in less tax revenue; it’s as simple as that. And with Brexit looming, the exchequer needs to raise all the funds it can.
UK  Budget  wage  growth  Austerity  living  standard  income  social  mobility  productivity  output  gap  Philip  Hammond  Theresa  May  George  Osborne  secular  stagnation  inflation  discretionary  disposable  credit  card  creditcard  household  debt  Consumer  Consumerism  consumerist  materialism  Brexit  London  1%  10%  NIC  welfare  state  underinvestment  gini  Coefficient  Tories  nasty  party  Conservative 
march 2017 by asterisk2a
Rethink rates now or face retail disaster, shops tell chancellor | Business | The Guardian
https://www.theguardian.com/business/2017/mar/07/food-inflation-doubles-uk-shoppers-feel-pinch [ are there sensible consumers out there, and wait out the next 2 years?!!! reality of Brexit should be by now, has to be digested by consumer, as always the lag indicator of most. FDI and business investement is first, and was first to scale back! ] A report from the British Retail Consortium and KPMG found that the spurt in consumer spending seen in the run-up to Christmas had come to an abrupt halt, with the result that non-food sales are falling for the first time since the economy was flirting with a double-dip recession in November 2011.

Further evidence that consumers are becoming more cautious was provided by the the Society of Motor Manufacturers and Traders, which released figures on Monday showing a drop of more than 4% in private car sales last month.
inflation  Brexit  household  debt  Consumerism  Consumer  credit  card  creditcard  private  discretionary  spending  disposable  income  uncertainty  UK  underinvestment  Austerity  Tories  nasty  party  Conservative  BOE  Mark  Carney  Theresa  May  Philip  Hammond 
march 2017 by asterisk2a
Budget 2017: Hammond to tell us the Brexit vote could have been worse | Business | The Guardian
consumers carried on spending and businesses continued to expand.

The picture for the public finances is also looking rosier compared with Hammond’s maiden autumn statement in November. [...] But here’s what the chancellor will not tell you: living costs have gone up and will continue to do so. The poorest will be hit hardest as the cost of essentials such as food and heating take a growing chunk out of already tight family budgets. Wages will struggle to match rises in inflation and the government’s benefit cuts mean that incomes will fall for the poorest people in Britain. In short, unless the government does something significant to improve living standards this week, inequality will start rising again.
UK  JAM  working  poor  squeezed  middle  class  Precariat  Theresa  May  Philip  Hammond  Austerity  DWP  HMRC  inflation  wage  growth  social  mobility  inequality  income  Tories  Productivity  child  poverty  trap  output  gap  recovery  GFC  bank  bailout  nasty  party  Conservative  Generationengerechtigkeit  babyboomers  Millennials  generation  rent  living  standard  discretionary  spending  disposable  credit  taxation  household  debt  mortgage  housing  crisis  Consumer  Consumerism  economic  history  neoliberalism  interventionism  crony  capitalism  tax  evasion  avoidance  corporatism  Exploitation  zero  hour  contract  part-time  minimum  generational  divide  Triple  Lock  Pension 
march 2017 by asterisk2a
IFS: Growth in UK living standards worst in 60 years | Business | The Guardian
The Institute for Financial Studies is predicting that households will be almost 20% worse off by 2021 - IFS calculations show that average household incomes will be 18% lower in 2021-22 than could have been reasonably expected before the financial crisis in 2007-08 - “One of the biggest drivers of the rise in child poverty is policy choices, which is why it is essential that the prime minister and chancellor use the upcoming budget to put in place measures to stop this happening. An excellent start would be to ensure families can keep more of their earnings under the universal credit.”
IMF  UK  Austerity  OECD  living  standard  George  Osborne  David  Cameron  Philip  Hammond  Theresa  May  GFC  recovery  Tories  nasty  party  bank  bailout  Labour  Ed  Miliband  Jeremy  Corbyn  Conservative  secular  stagnation  disposable  income  discretionary  spending  household  debt  credit  card  mortgage  private  Consumer  Consumerism  wage  growth  inflation  mobility  inequality  gini  Coefficient  poverty  trap  working  poor  gig  economy  zero  hour  contract  Self-Employment  part-time  Precariat  squeezed  middle  class  technological  unemployment  ZIRP  NIRP  QE  trickle-down  neoliberalism  crony  Capitalism  corporatism  tax  evasion  avoidance  GDP  Corporate  profit  maximisation  globalisation  globalization  welfare  underinvestment  child  taxation  taxcredit  UC  DWP  JSA  social  fuel  Brexit  neoconservatism  neoconservatives  JAM 
march 2017 by asterisk2a
UK faces return to inequality of Thatcher years, says report | Business | The Guardian
Pressure on the government to help struggling Britons has intensified after a leading thinktank warned that falling living standards for the poor threatened the biggest rise in inequality since Margaret Thatcher was prime minister.

The Resolution Foundation said Theresa May would need to make good on her pledge to support “just about managing” households as it released a report showing that rising inflation and an end to recent strong jobs growth would hit the least well-off hardest.
UK  Brexit  Austerity  tax  credit  Tories  JAM  nasty  party  Conservative  poverty  fuel  working  poor  Precariat  zero  hour  contract  Contractor  Self-Employment  gig  Economy  1099  part-time  social  mobility  income  distribution  redistribution  squeezed  middle  class  technological  unemployment  underemployed  underemployment  trap  education  policy  public  health  inequality  Food  Bank  gini  Coefficient  Triple  Lock  Pension  JSA  ESA  DWP  minimum  wage  taxation  evasion  avoidance  HMRC  NHS  inflation  living  standard  disposable  discretionary  spending  Card  consumer  debt  household  underinvestment  skills  skill-biased  Productivity  output  gap  downward  upward  Theresa  May  George  Osborne  David  Cameron  Philip  Hammond 
february 2017 by asterisk2a
UK inflation: now it's the pound in your pocket being devalued | Business | The Guardian
According to the National Institute for Economic & Social Research inflation is heading towards 4% as the effect of Brexit uncertainty keeps the pound low and imports expensive. [...] The government has pledged to double down on austerity from April, with cuts to tax credits and other benefits as well as the savings made over the last five years.

Such a sharp spike in prices will strain household finances, especially when wages growth is expected to remain at around 2.5%.

Bank of England policymaker Michael Saunders said last week that developments in the labour market such as zero-hour contracts and agency working meant wages were unlikely to take off any time soon. [...] [ rise in unsecured credit 2008 levels, and personal bankruptcies not easier (online) to do and 2016 personal bankruptcies were up ~16% ]
UK  Brexit  living  standard  disposable  income  discretionary  spending  wage  growth  GDP  recovery  GFC  inflation  £  British  Pound  Precariat  working  poor  squeezed  middle  class  technological  unemployment  Productivity  output  gap  part-time  zero  hour  contract  Contractor  Self-Employment  gig  economy  1099  economic  history  Austerity  tax  credit  consumer  debt  household  Card  BOE  bankruptcies  bankruptcy  underinvestment 
january 2017 by asterisk2a
Debt: Why more people are pressing the bankruptcy button - BBC News
More going bust as personal borrowing surges - http://www.bbc.co.uk/news/business-38768705 - The number of people declared insolvent owing to unmanageable debts was 13% higher in 2016 compared with the previous year,
consumer  debt  debtoverhang  household  discretionary  spending  UK  disposable  income  credit  binge  card  materialism  Consumerism  consumerist  Status  Anxiety  mental  health  rat  race 
january 2017 by asterisk2a
UK credit binge approaching levels not seen since 2008 crash | Business | The Guardian
//&! http://bit.ly/2j5VMET - Shoppers are still pulling out the plastic, but borrowing may become less choice and more necessity as budgets are squeezed //&! http://bit.ly/2hW63rg - BOE unable to put "irrational behavior" into models, ie credit binge. //&! wrong for BOE to compare levels to GDP! http://bit.ly/2iR2fGY - AUSTERITY UK KEPT AFLOAT BY CONSUMER CREDIT BINGE! - 2015 economy growth was 80% consumer! &! Carney Warning Jan 2017 - http://www.bbc.co.uk/news/business-38644963
credit  card  car  loan  consumer  debt  household  mortgage  Property  bubble  UK  discretionary  spending  disposable  income  wage  growth  inflation  BOE  payday  auto  recovery  GFC  economic  history  Consumerism  materialism  Brexit  irrational  behavior  debtoverhang  austerity  ZIRP  NIRP  QE 
january 2017 by asterisk2a
Rising cost of essentials leaves UK households with less cash for treats | Business | The Guardian
Households are being left with less cash to spend on treats or to stash away as savings as the rising cost of essentials like food and fuel take a bigger chunk out of family budgets.
Brexit  inflation  disposable  income  discretionary  spending  UK  working  poor  child  tax  credit  Austerity  squeezed  middle  class 
december 2016 by asterisk2a
Oh for the 1960s! People earned less but could afford more | Money | The Guardian
[ fetish of GDP ] Economic growth since the 1960s has been real, but the link between growth and personal prosperity has broken down, probably since the 1990s. We can carry on pushing for increases in GDP, but it’s meaningless unless it translates into a recovery in living standards. If any government really wants to help the left-behinds, then cutting house prices and rents must be their first priority.
GDP  wage  growth  income  distribution  economic  history  profit  maximisation  capitalism  crony  oligopoly  monopoly  Platform  Self-Employment  Productivity  squeezed  middle  class  working  poor  globalisation  Competition  liberal  reform  competitiveness  disposable  discretionary  spending  investment  creditcard  credit  GFC  recovery  Austerity  secular  stagnation  taxation  1%  Super  Rich  Plutocracy  10%  20%  bank  bailout  Privatisation  outsourcing  offshore  banking  tax  evasion  avoidance  child 
december 2016 by asterisk2a
Brexit vote boosts case for inclusive growth | Bruegel
finding calls for more inclusive growth, which is defined by the OECD as “economic growth that creates opportunity for all segments of the population and distributes the dividends of increased prosperity, both in monetary and non-monetary terms, fairly across society.” [...] finding calls for more inclusive growth, which is defined by the OECD as “economic growth that creates opportunity for all segments of the population and distributes the dividends of increased prosperity, both in monetary and non-monetary terms, fairly across society.”
Brexit  Protest  Vote  income  distribution  Gini  coefficient  poverty  UK  child  poverty  fuel  poverty  income  growth  wage  growth  structural  unemployment  long-term  unemployment  inequality  1%  10%  20%  Super  Rich  plutocracy  recovery  squeezed  middle  class  working  poor  minimum  wage  minimumwage  mindestlohn  Precariat  working  tax  credit  child  tax  credit  disposable  income  discretionary  spending  consumer  debt  household  debt  credit  card  debt  credit  card  economic  history  USA 
july 2016 by asterisk2a
Technological Unemployment (2013) w Jacque Fresco
wikipedia Jacque Fresco // MORE AI, automation, robotics, augmented intelligence, self-driving cars = LESS AGGREGATE DEMAND (disposable income of the middle class, working class & working poor) [...] productivity has risen but incomes NOT! [...] & companies are making more money for shareholders & owners with less & less people (see Facebook) [...] Industry doesnt care abt people. They hire people because it hasnt been yet automated. [...] A JOBLESS RECOVERY & JOBLESS GDP GROWTH [...] routine middle class jobs eliminated fastest! [...] pace of destruction is greater than pace of creation of new jobs! [...] ie Lawyer Software searching through files via augmented intelligence //&! Humans Need Not Apply - youtu.be/7Pq-S557XQU //&! Jerry Kaplan ((re)distribute wealth more equally - youtu.be/JiiP5ROnzw8), Rifkin (Zero Marginal Cost), Paul Mason (post-capitalism) book //&! UBI a must in future - youtu.be/WMF-Z74C1QE &! youtu.be/mEV-kAjtm9U &! youtu.be/9pdU_Rkwzes
technological  unemployment  aggregate  demand  aggregate  demand  short-fall  disposable  income  discretionary  spending  squeezed  middle  class  western  world  working  class  working  poor  Precariat  automation  Robotics  augmented  intelligence  self-driving  cars  autonomous  car  autonomous  cars  purchasing  power  wage  growth  inequality  income  distribution  Gini  coefficient  1%  10%  20%  winner  take  all  globalisation  globalization  neoliberal  neoliberalism  social  safety  net  Universal  Basic  shareholder  capitalism  crony  capitalism  capitalism  in  crisis  post-capitalism  triple-lock  pension  secular  stagnation  USA  UK  European  Union  Chicago  School  neoclassical  economics  Brexit  No  Representation  Career  Politicians  politician  Smart  Grid  Zero  Marginal  Cost  Jeremy  Rifkin  book  Mobile  Creative  Mobile  Creatives  Industrial  Revolution  technological  progress  technological  history  Soziale  Marktwirtschaft  Grundeinkommen  Paul  Mason  recovery  destruction  multinational  conglomerate  low  pay  minimum  wage  mindestlohn  Jerry  Kaplan  income  redistribution  income  growth  income  inequality  Support  income  tax  credit  welfare  reform  welfare  state  Elizabeth  Warren 
july 2016 by asterisk2a
IMF urges more spending to boost growth
Fund’s steering committee calls for more forceful stimulus and warns monetary policy alone is not enough //&! http://www.theguardian.com/business/imf //&! bit.ly/1V9pfhD - IMF chief: regulators long 'alarmed' over Panama's handling of taxation. Christine Lagarde responds to Panama Papers revelations, noting that authorities were concerned but did not take ‘expected’ action.
secular  stagnation  Panama  Papers  tax  evasion  tax  amnesty  tax  avoidance  corporate  tax  rate  labour  market  job  market  Service  Sector  Jobs  income  tax  receipts  budget2016  George  Osborne  David  Cameron  general  election  2015  general  election  2020  election  campaign  promises  Party  Funding  Richard  Koo  Confidence  Fairy  austerity  underinvestment  Generationengerechtigkeit  triple-lock  pension  fairness  Generation  Rent  Housing  Crisis  property  bubble  USA  UK  reflation  reflate  fiscal  policy  Pact  Schuldenbremse  Angela  Merkel  Wolfgang  Schäuble  GFC  sovereign  debt  banking  bank  bailout  job  creation  squeezed  middle  class  working  poor  disposable  income  discretionary  spending  IMF  OECD  credit  bubble  China  BRIC  recovery  Germany  economic  history  2016  Niall  Ferguson  budget  deficit  offshore  banking  investment  banking  TBTF  self-regulation  Greed  crony  capitalism  shareholder  capitalism  globalisation  globalization  global  economy  Oil  price  commodity  prices  ChristineLagarde  inequality  Gini  coefficient  income  mobility  social  mobility  low  pay  low  income  tax  credit  child  poverty  food  poverty  health  care  cost  health  care  demand  western  world  European  Union  Brussels  Brexit  Grexit  sick  population  health  economic  Union  Union  investment  policy  fiscal  me 
april 2016 by asterisk2a
What Happens Next (In Europe)?
the odds of another crisis are higher than a rally to fresh records. [...]
“The 2009-2015 rally originated from two main drivers: a massive stimulus, and credit expansion in China,” said Goette, who’s a partner at his firm in Zug, Switzerland and helps oversee 1 billion Swiss francs ($1 billion).

“European earnings have not followed suit so far. Skepticism regarding central-bank operations has started to emerge.”
ECB  Brussels  recovery  reflate  reflation  China  credit  bubble  Germany  PIGS  zombie  banks  European  Bank  Supervision  European  Economic  Area  European  Election  2014  working  poor  squeezed  middle  class  Soziale  Marktwirtschaft  MarioDraghi  OMT  LTRO  monetary  policy  monetary  stimulus  Fiscal  Pact  Schuldenbremse  sovereign  debt  crisis  France  Brexit  Grexit  Angela  Merkel  Wolfgang  Schäuble  history  underinvestment  Richard  Koo  Yanis  Varoufakis  liquidity  trap  zombie  corporations  youth  unemployment  demographic  bubble  OAP  discretionary  spending  disposable  income  liberal  reform  Precariat  precarious  employment  low  pay  low  income  Minijob  Zeitarbeit  Leiharbeit  1  Euro  Job  Structural  Impediments  imbalance  unemployment  monetary  transmission  mechanism  monetary  union  union  Rechtsruck  Bundesbank  fault  lines  shareholder  capitalism  bailout  GFC  2016  PBOC  Exportweltmeister  zombie  Financial  Stability  Board  crony  capitalism  Deutsche  Bank  infrastructure  investment  competitiveness  Beton  Gold  Betongold  asset  allocation  Super  Rich  1%  oligarchy  plutocracy  democracy  tax  evasion  tax  avoidance  Wall  Street  shareholder  value  profit  maximisation  profit  maximization  Russia  Crimea  Ukraine  U 
april 2016 by asterisk2a
What the Panama Papers Tells Us About Global Capitalism
never seen David Cameron red-faced, so much! [...] sold in 2010!? And what was before that time? The time he was a MP!? [...] we are not all in this together, for sure! // book the hidden wealth of nations. - 7-8trn tax evasion and avoidance - not taxed. //&! Rumble - Just like FDR - Bernie Welcomes the GE CEO Hatred... - youtu.be/jT7NIoDS1gw - taking advantage of the tax laws THEY MADE.
Panama  Papers  David  Cameron  George  Osborne  tax  evasion  tax  amnesty  tax  avoidance  Super  Rich  Toff  Privileged  Establishment  Westminster  Whitehall  expense  scandal  No  Representation  Career  Politicians  1%  legal  loopholes  plutocracy  oligarchy  Tories  nasty  party  Richard  Wolff  Conservative  shell  company  offshore  banking  tax  loopoles  budget  deficit  austerity  fairness  Generationengerechtigkeit  neoliberal  neoliberalism  accounting  scandal  corporate  scandal  white-collar  crime  trickle-down  economics  free  market  corporate  tax  rate  Budget2016  self-regulation  underinvestment  squeezed  middle  class  working  poor  Gini  coefficient  child  poverty  corruption  bribery  money  laundering  UK  USA  Bahamas  CaymanIslands  income  distribution  tax  credit  Disabled  vulnerable  babyboomers  triple-lock  pension  DWP  capital  gains  tax  income  tax  receipts  secular  stagnation  western  world  social  mobility  income  mobility  trust  low  pay  shareholder  capitalism  crony  capitalism  low  income  Service  Sector  Jobs  Universal  Basic  class  warfare  disposable  income  discretionary  spending  credit  bubble  economic  history  Gesellschaft  Wertegesellschaft  materialism  consumerism  status  anxiety  pay 
april 2016 by asterisk2a
British households doing less cleaning, DIY and gardening, says ONS
[80% of 2015 GDP growth was consumer related][home improvement is bell weather signal] [...] Over the past decade British waistlines have expanded with obesity reaching crisis levels. Yet the ONS estimates that, in the home at least, the number of calories consumed has been falling. [...] Another significant change is the value put on “transport services” provided by households. This week record car sales were reported, jumping to more than 500,000 in March alone, yet the number of miles driven by households – to go to work or the shops, collecting children from school, etc – remains significantly below the levels recorded a decade ago. [...] It attributed the fall to petrol costs and pressure on household budgets after the financial crash. [...] . Time spent on DIY is down the most – by 20% since 2005. ...
recovery  disposable  income  discretionary  spending  DIY  homeownership  UK  property  bubble  Housing  Crisis  Generation  Rent  squeezed  middle  class  consumer  debt  household  debt  credit  card  debt  car  loan  ZIRP  NIRP  QE  mortgage  market  distortion  credit  payment  working  poor  low  pay  low  income  job  insecurity  private  debt  consumer  spending 
april 2016 by asterisk2a
Waiters And Bartenders Rise To Record, As Manufacturing Workers Drop Most Since 2009
On the surface, the March jobs reported was better than expected... except for manufacturing workers. As shown in the chart below, in the past month, a disturbing 29,000 manufacturing jobs were lost. This was the single biggest monthly drop in the series going back to December 2009. But not all is lost: as has been the case for virtually every month during the "recovery", virtually every laid off manufacturing worker could find a job as a waiter: in March, the workers in the "Food services and drinking places" category, aka waiters, bartenders and minimum wage line cooks, rose again to a new record high of 11,307,000 workers, an increase of 25K in the month, offsetting virtually all lost manufacturing jobs. This is how the two job series have looked since the start of 2015: 24k manufacturing jobs have been lost in the past 14 months compared to an increas of 365K food service workers.
UK  USA  job  creation  Manufacturing  industrial  policy  competitiveness  competitive  Service  Sector  Jobs  minimum  wage  low  pay  low  income  productivity  productivity  gap  recovery  economic  history  budget  deficit  income  tax  receipts  IRS  HMRC  trade  deficit  current  account  deficit  precarious  work  Precariat  squeezed  middle  class  job  loss  job  security  job  insecurity  working  poor  Contractor  Zero  Hour  Contract  Budget2016  George  Osborne  STEM  skills  gap  apprenticeships  2015  2016  China  BRIC  global  economy  global  trade  globalisation  globalization  outsourcing  self-employment  tax  free  income  tax  credit  social  safety  net  welfare  state  output  gap  participation  rate  babyboomers  western  world  secular  stagnation  Support  income  growth  wage  stagnation  disposable  income  discretionary  spending  household  debt  consumer  debt  credit  card  debt  car  loan  student  debt  Generation  Rent  Generationengerechtigkeit  tax  evasion  tax  avoidance  tax  amnesty  crony  capitalism  shareholder  capitalism  profit  maximisation  profit  maximization  Wall  Street  shareholder  value  multiplier-effect  austerity 
april 2016 by asterisk2a
Discussing the IMF’s research on inequality - an interview with Andrew Berg
Inequality and Unsustainable Growth (2011) - imf.org/external/pubs/ft/sdn/2011/sdn1108.pdf - what are the determinants of sustained growth (answer a middle class). phases of growth. institutional governance (tax evasion and tax avoidance). lobby, revolving door, no representation, career politicians. [...] redistribution should have win-win effect. //&! Richard Wilkinson: How economic inequality harms societies - youtu.be/cZ7LzE3u7Bw - national income per head (average) is not reflective (correlates) for health and child well-being measures, social capital (volunteering, Tories Big Society), mental health, prison population, social mobility. that is why Tories redefined fuel poverty & child poverty! That is why nominal GDP targeting is double edge sword (tax evasion and average national income per head, and being dependent on a industry for GDP (ie Brazil and resources, or south UK and banking - 80% of 2015 growth was consumtion). Leads to status anxiety & materialism/
inequality  Robert  Reich  Joseph  Stiglitz  Paul  Krugman  squeezed  middle  class  working  poor  CEO  pay  shareholder  capitalism  IMF  western  world  Super  Rich  1%  plutocracy  oligarchy  discretionary  spending  disposable  income  Generation  Rent  poverty  poverty  trap  meritocracy  meritocratic  income  distribution  American  Dream  child  poverty  Thomas  Piketty  income  growth  income  inequality  income  mobility  Gini  coefficient  social  mobility  income  redistribution  Universal  Basic  tax  credit  tax  free  income  tax  evasion  tax  amnesty  tax  avoidance  HMRC  Political  Governance  Career  Politicians  revolving  door  Lobbying  lobby  lobbyist  No  Representation  Niall  Ferguson  secular  stagnation  Elizabeth  Warren  Precariat  job  insecurity  welfare  state  social  safety  net  nominal  GDP  targeting  WHO  consumerism  materialism  status  anxiety  values  social  status  self-esteem  mental  health  well  being  GNP 
april 2016 by asterisk2a
George Osborne: A profile of the man behind the Budget - BBC Newsnight
// 70% of UK economy growth (GDP), 2015, was consumption. // and trade deficit/current account deficit for 2015, biggest ever on record ---- The UK's current account deficit widened to a record high in the final quarter of last year.
The deficit in the three months to December was £32.7bn, the equivalent of 7% of GDP, said the Office for National Statistics (ONS).
For all of 2015, it came to £96.2bn or 5.2% of GDP. Both figures were the highest since records began in 1948.
A current account deficit means the value of imports of goods, services and investment income exceeds exports.[...] "An obvious potential trigger for the markets losing confidence in the UK economy could be a vote to leave the EU in the 23 June referendum." [ harder to finance w weak Sterling and higher interest rates, rating agencies hinted at the case of a downgrade of UK's credit worthieness ] - bbc.in/1ZMEvAg
Budget2016  George  Osborne  Career  Politicians  austerity  economic  history  Tories  Conservative  Party  nasty  David  Cameron  Brexit  HS2  minimum  wage  living  wage  budget  deficit  trade  deficit  secular  stagnation  recovery  Toff  No  Representation  Privileged  Establishment  demographic  bubble  bank  bailout  Positioning  dogma  ideology  neoliberal  neoliberalism  spin  doctor  PR  disposable  income  discretionary  spending  wage  stagnation  squeezed  middle  class  consumer  debt  household  debt  credit  card  debt  Student  Loan  Generation  Rent  underinvestment  Richard  Koo  Japan  nominal  GDP  targeting  GDP  growth  of  income  shareholder  capitalism  crony  capitalism  current  account  deficit  GBP  Sterling  business  confidence  global  economy  fault  lines  ZIRP  NIRP  QE  BOE  Mark  Carney 
march 2016 by asterisk2a
Budget 2016 shows Osborne's failure on debt, surplus, GDP
// higher in-work poverty
budget2015  budget2016  budget2010  general  election  2010  general  election  2015  PR  spin  doctor  economic  history  Positioning  Richard  Koo  austerity  underinvestment  dogma  ideology  policy  folly  policy  error  George  Osborne  David  Cameron  nasty  party  Iain  Duncan  Smith  corporate  tax  rate  corporate  welfare  corporate  subsidies  tax  evasion  tax  avoidance  Google  Inc.  shareholder  capitalism  bank  bailout  budget  deficit  Tories  Conservative  secular  stagnation  aggregate  demand  babyboomers  ageing  population  Northern  Powerhouse  triple-lock  pension  pension  obligation  Generationengerechtigkeit  fairness  Generation  Rent  property  bubble  Service  Sector  Jobs  job  creation  squeezed  middle  class  working  poor  precarious  work  tax  credit  wage  stagnation  productivity  output  gap  Gini  coefficient  income  tax  receipts  tax  code  Zero  Hour  Contract  part-time  underemployment  underemployed  low  pay  low  income  BOE  ZIRP  NIRP  QE  consumer  debt  household  debt  credit  card  debt  election  campaign  promises  car  loan  student  debt  discretionary  spending  disposable  income  child  poverty  Food  poverty  tax  credit  Privatisation  Council  Public  Services  Social  Services  bed  blocking  education  policy  skills  gap  Academy  underinvestment  NHS 
march 2016 by asterisk2a
German Banks Told To Start Hoarding Cash | Zero Hedge
In order to generate artificial economic growth, the ECB wants banks to make as many loans as possible, no matter how stupid or idiotic. They believe that economic growth is simply a function of loans. The more money that’s loaned out, the more the economy will grow. This is the sort of theory that works really well in an economic textbook. But it doesn’t work so well in a history textbook. Cheap money encourages risky behavior. It gives banks an incentive to give ‘no money down’ loans to homeless people with no employment history. It creates bubbles (like the housing bubble from 10 years ago), and ultimately, financial panics (like the banking crisis from 8 years ago). Banks are supposed to be conservative, responsible managers of other people’s money. When central bank policies penalize that practice, bad things tend to happen.
Richard  Koo  aggregate  demand  austerity  fiscal  policy  Pact  Schuldenbremse  economic  history  ZIRP  NIRP  QE  distortion  financial  repression  hunt  for  yield  speculative  bubbles  speculative  speculation  Venture  Capital  Mutual  Fund  Private  Equity  reflate  reflation  recovery  GFC  debtoverhang  liquidity  trap  zombie  banks  deleveraging  Debt  Super  Cycle  secular  stagnation  consumer  wage  stagnation  squeezed  middle  class  disposable  income  discretionary  spending  marginal  propensity  to  consume  tax  evasion  tax  avoidance  oligarchy  plutocracy  Super  Rich  1%  household  car  loan  credit  card  student  loan  student  loan  student  Bubble  generation  rent  OMT  job  creation  Service  Sector  Jobs  working  poor  precarious  work  Precariat  Zero  Hour  Contract  Contractor  Leiharbeit  Zeitarbeit  Agenda  2010  low  pay  low  income  TLTRO  LTRO  monetary  transmission  mechanism  velocity  of  money 
march 2016 by asterisk2a
Central bankers on the defensive as weird policy becomes even weirder | Business | The Guardian
Growth is tepid, productivity is poor, and inflation is too low: all is not going according to policymakers’ masterplans [...] As far as the OECD is concerned, monetary policy is being forced to take too much of the strain. Its chief economist Catherine Mann made the point that lasting recovery required three things: stimulative monetary policy; activist fiscal policy; and structural reform. The OECD wants the second of these ingredients to be added to the recipe in the form of increased spending on public infrastructure, something it says would more than pay for itself at a time when governments can borrow so cheaply.
monetary  policy  G20  fiscal  policy  monetary  stimulus  monetary  system  monetary  transmission  mechanism  liquidity  trap  UK  western  world  USA  Japan  Abenomics  George  Osborne  Angela  Merkel  Wolfgang  Schäuble  Pact  Schuldenbremse  economic  history  recovery  secular  stagnation  productivity  underinvestment  MarioDraghi  ZIRP  NIRP  QE  ECB  BOE  Fed  Taper  deflationary  deflation  nominal  GDP  targeting  inflation  targeting  zombie  banks  MervynKing  zombie  corporations  zombie  consumer  Richard  Koo  Gini  coefficient  inequality  squeezed  middle  class  wage  stagnation  discretionary  spending  distortion  property  bubble  disposable  income  productive  investment  austerity  business  confidence  foreign  direct  investment  consumer  debt  household  debt  credit  card  debt  car  loan  student  loan  debt  student  loan  policy  folly  policy  error  short-termism  Career  Politicians  neoliberalism  neoliberal  trickle-down  economics  self-regulation  City  of  London  investment  banking  retail  banking  OECD  IMF  KennethRogoff  hot-money  hunt  for  yield  asset  bubble  asset  allocation  speculative  bubbles  speculative  speculation  reflate  reflation  financial  repression  New  Normal  trust 
march 2016 by asterisk2a
UK consumes far less than a decade ago – 'peak stuff' or something else? | Business | The Guardian
From crops to energy and metals, average material consumption fell from 15 tonnes in 2001 to just over 10 tonnes in 2013 [...] UK households have also abandoned buying many resource-intensive goods common in the recent past – such as metal-heavy video recorders and hi-fi systems, vinyl records, CDs and books – as they shift to digital consumption. [...] The figures will spark fresh speculation that Britain and other developed economies have hit ‘peak stuff’, although some critics pour scorn on the quality of the ONS’s environmental accounts. In January, Ikea said the appetite of western consumers for home furnishings had reached its peak and consumption of many familiar goods was at its limit. Household spending on physical goods, including furnishings, clothing, cars and gadgets, decreased between 2002/03 and 2014, [...] Households now spend more on services than physical goods, he said. [...] [ saturation in some markets but we are not living in peak stuff ]
peak  stuff  secular  stagnation  demographic  bubble  zombie  consumer  materialism  status  anxiety  consumerist  consumer  choice  consumerism  sustainability  sustainable  resource  depletion  finite  resources  consumer  debt  marginal  propensity  to  consume  disposable  income  discretionary  spending  household  debt  car  loan  credit  card  debt  student  loan  debt  student  loan  student  debt  StudentLoans  savings  rate  retirement  poverty  in  old  age  poverty  squeezed  middle  class  wage  stagnation  job  creation  low  pay  low  income  Zero  Hour  Contract  Contractor  self-employment  working  poor  precarious  work  Precariat  capitalism  western  world  COP21  carbon  tax  carbonfootprint  carbonemission  sharing  economy  Service  Sector  Jobs  recycling 
february 2016 by asterisk2a
Brexit referendum could destabilise UK recovery, says IMF | Business | The Guardian
[ putting investment decisions and plans on hold! ] Christine Lagarde warns that uncertainty over outcome ‘will be bad in and of itself’ in months leading up to vote [...] But the IMF’s annual health check said “the relatively positive outlook is subject to risks and uncertainties”, including a global slowdown, sluggish productivity growth, a large trade deficit, still-high levels of household debt, and the forthcoming referendum on EU membership. It said any sign of weakness in growth should be met with higher spending by the Treasury. The UK authorities should explore “both revenue and expenditure measures, while protecting spending in priority areas, including healthcare, education, and infrastructure”. The report emphasised that “flexibility in the fiscal framework should be used to modify the pace of adjustment in the event of weaker demand growth”. [ moderates and politicians, wisely worded! no instructions. no direct criticism. ]
Brexit  austerity  household  debt  consumer  debt  property  bubble  credit  card  debt  car  loan  student  loan  debt  student  loan  student  debt  IMF  OECD  job  creation  Service  Sector  Jobs  trade  deficit  UK  George  Osborne  David  Cameron  fiscal  policy  industrial  policy  labour  market  underinvestment  education  policy  NHS  child  poverty  Gini  coefficient  inequality  social  mobility  income  mobility  recovery  2016  general  election  2015  budget  deficit  election  campaign  promises  Manifesto  Generationengerechtigkeit  fairness  trickle-down  economics  neoliberalism  neoliberal  labour  economics  Zero  Hour  Contract  part-time  minimum  wage  tax  credit  Contractor  self-employment  low  pay  Precariat  working  poor  low  income  disposable  income  discretionary  spending  debt  servitude  monetary  policy  fiscal  stimulus  Pact  Schuldenbremse  general  election  2020 
february 2016 by asterisk2a
Talia Jane may have deceived us, but her point stands
ind.pn/1Qc5SxH bit.ly/1KJQjAE bit.ly/1SV92vy bit.ly/1oBBh5k [ 2nd jobs bc first does only cover bills ] Even if Talia was the most frugal millennial in all the land, she’d still be living beyond her means. In the Bay Area, that is shockingly easy to do, thanks in part to companies like her former employer that have driven rents sky-high with no ceiling in sight. Income inequality is a huge problem in this country, especially in the Bay Area. Yelp’s answer to that, by the way, appears to be to just move the lower wage jobs to Phoenix, rather than pay the employees it has in San Francisco more. Charming. //&! https://twitter.com/hankgreen/status/702488056645992449 - women in the workplace ... //&! https://twitter.com/polotek/status/702025499782950912 bootstap yourself
Precariat  working  poor  San  Francisco  Silicon  Valley  Yelp!  customer  service  low  pay  low  income  income  distribution  tax  credit  housing  benefit  commuting  minimum  wage  living  wage  discretionary  spending  Wall  Street  shareholder  value  profit  maximisation  disposable  income  Millennials  career  ladder  Sector  Jobs  job  creation  financial  literacy  career  advice 
february 2016 by asterisk2a
This Letting Agent Admits The Housing Shortage Is Good News For Landlords - BuzzFeed News
[ Lord Adair Turner book & Richard Koo; banks tend 2 lend 2 property & land rather than productivity/businesses. risk averse, if the family cant pay the mortgage any more, than at least u have not lost all the money! less risky! Its also partly rentier behaviour of banks. // also BOE has to be concerned about future disposable income; rent & utilities eating up 50%-75% of income thus less for consumption! ] “Landlords’ balance sheets are looking healthier than at any point since 2014, and property investors are looking at an excellent rate of return from their portfolios.” Gill warned that changes to stamp duty announced in chancellor George Osborne’s Autumn Statement and due to take effect on 1 April – people selling buy-to-let investments will pay an extra 3% – were bad news for landlords. But overall, the “consistent and developing lack of housing for across all tenures, for a spiralling population” meant the level of demand for rental properties would not reduce, he said.
property  bubble  speculative  bubbles  asset  bubble  asset  allocation  macroprudential  policy  Generationengerechtigkeit  generation  rent  Housing  Crisis  social  affordable  distortion  ZIRP  NIRP  QE  aggregate  demand  Right  to  Buy  Buy-to-Let  Help  to  Buy  Scheme  Help  to  Save  policy  folly  policy  error  consumer  debt  household  debt  budget  deficit  recovery  mortgage  market  credit  bubble  GFC  bank  bailout  BOE  zombie  banks  rentier  rent-seeking  Richard  Koo  underinvestment  productive  investment  infrastructure  investment  zombie  consumer  industrial  policy  economic  history  Mark  Carney  financial  repression  behavioral  finance  behavioral  economics  herding  herd  hunt  for  yield  leverage  margin  trading  equity  bubble  Gini  coefficient  disposable  income  discretionary  spending  VAR  CDO  CDS  risk  aversion  squeezed  middle  class  secular  stagnation  inequality  UK  generational  contract  lost  generation  constituency  Tories  Conservative  Party  nasty  David  Cameron  George  Osborne  general  election  2015  general  election  2020  fiscal  policy  austerity  monetary  policy  liquidity  trap 
february 2016 by asterisk2a
Dispatches - Low Pay Britain - All 4
living wage starts from 21? 25? // retail big! high street big! - service sector. no manufacturing ... // IT IS CORPORATE SUBSIDY - PROGRAM FOR LOW PAY! // very far from Germay model! // tax payer pays for people in high street! // Ofsted found inadequate conditions! AND SMALL MINORITY GET ACTUALLY A FULL-TIME JOB! LOL LOL LOL! // Social Market Foundation (research) found lvl2 apprenticeship adds nothing to purse over a lifetime. // its DWP policy to get young people off the paper onto other paper largely, still funded, by the gov - still adding to budget deficit. // Ofsted concerned over apprenticeships "wasting public funds" // WHAT A TORY SPIN! // retail places have shot up, and construction plummeted! the latter is harder or put through training providers ( private companies, PRIVATISATION! ). employers are not in charge. to quote one employee of a training provider "meet targets, get money in" its about the # of apprenticeships, not the quality or economic need/industry. //
apprenticeships  exploitation  Workers  Union  Trade  Union  working  poor  Generationengerechtigkeit  fairness  precarious  work  Precariat  self-regulation  minimum  wage  living  wage  low  pay  low  income  welfare  state  social  safety  net  working  tax  credit  tax  credit  housing  benefit  Iain  Duncan  Smith  DWP  spin  doctor  Positioning  Career  Politicians  No  Representation  Service  Sector  Jobs  job  creation  youth  unemployment  policy  folly  policy  error  education  policy  PR  David  Cameron  George  Osborne  industrial  policy  STEM  Manufacturing  microeconomic  policy  macroeconomic  policy  recovery  GFC  disposable  income  discretionary  spending  corporate  scandal  corporate  welfare  subsidies  subsidizing  budget  deficit  Fachkräftemangel  trickle-down  economics  neoliberalism  neoliberal  Wall  Street  profit  maximisation  shareholder  value  Ofsted  skills  gap  budget2015  free  market  Privatisation  dogma  ideology 
february 2016 by asterisk2a
Full-time work is no bar to poverty in UK, report says | Society | The Guardian
Despite at least one adult working full time, millions of households cannot make ends meet, Joseph Rowntree Foundation reports [...] Millions of households struggle to make ends meet even though they include at least one adult in full-time work, according to a report by the Joseph Rowntree Foundation (JRF). Living standards have declined since 2008 despite the economy’s return to growth, the anti-poverty charity said, warning that families with children are at particular risk of a life in poverty. [...] The MIS is determined by asking members of the public to define what is needed to “live to an adequate level”. The threshold is £16,850 for a single person, £25,600 for a lone parent with one child and £36,060 for a single breadwinner with two children. [...] Approximately 11.6 million people in the UK live below the MIS, [...] An improving economy alone is not guaranteed to reverse this rise.” [...] [ no economic security in this recovery! ]
Service  Sector  Jobs  job  creation  precarious  work  Precariat  minimum  wage  Zero  Hour  Contract  Contractor  UK  poverty  tax  credit  child  poverty  squeezed  middle  class  wage  stagnation  income  growth  low  pay  low  income  disposable  income  discretionary  spending  income  distribution  income  inequality  Gini  coefficient  income  mobility  downward  mobility  social  mobility  income  redistribution  tax  free  income  recovery  austerity  living  standard  quality  of  life  Perspective  Perspektivlosigkeit  deprivation  economic  security  GFC  secular  stagnation  economic  history  inequality  health  inequality  trickle-down  economics  dogma  ideology  neoliberalism  neoliberal  corporate  tax  rate  corporate  welfare  subsidies  subsidizing  DWP  George  Osborne  David  Cameron  Iain  Duncan  Smith  budget  deficit  tax  evasion  tax  avoidance  USA  household  debt  consumer  debt  credit  card  debt  car  loan  student  loan  debt  student  loan  student  debt  Bubble  child  care  social  safety  net  welfare  state 
february 2016 by asterisk2a
Beware the Minuses of Negative Interest Rates
Whether sub-zero interest rates actually work is open to debate, however. So says Richard Koo, the chief economist of the Nomura Research Institute. “In my view,” he writes, “the adoption of negative interest rates is an act of desperation born out of despair over the inability of quantitative easing and inflation targeting to produce the desired results.” The failure of the BOJ and the ECB to meet their inflation and growth goals is shared by the Federal Reserve and the Bank of England. None of these central banks understand that their textbook solutions don’t fit the real economy, Koo asserts. [...] And on a more practical level, why corporations sit on record hoards of cash (taxes aside). [<< macro prudential policy ] //&! “When no one is borrowing money, monetary policy is largely useless.” [...] Keynes was right and (Milton) Freidman was wrong. - bit.ly/1Kl07Ri & There is no Confidence Fairy //&! fam.ag/1ogOOiM & bit.ly/1LpJL4W & bit.ly/1VgSjAB & bit.ly/214Icm3 & bit.ly/1Kl228n
secular  stagnation  emerging  middle  class  demographic  bubble  ageing  population  western  world  ZIRP  NIRP  QE  distortion  liquidity  trap  New  Normal  financial  repression  GFC  economic  history  Richard  Koo  consumer  debt  squeezed  middle  class  household  debt  credit  card  debt  car  loan  business  confidence  consumer  confidence  student  loan  debt  student  loan  Super  Cycle  debt  servitude  mortgage  market  asset  bubble  speculative  bubbles  hunt  for  yield  hot-money  equity  bubble  bond  bubble  property  bubble  credit  bubble  BRIC  China  student  debt  disposable  income  discretionary  spending  Frontier  Markets  emerging  market  UK  USA  Europe  Japan  Abenomics  Niall  Ferguson  Paul  Krugman  Joseph  Stiglitz  Gini  coefficient  inequality  income  inequality  income  distribution  income  mobility  wage  stagnation  income  growth  tax  evasion  tax  avoidance  Wall  Street  profit  maximisation  shareholder  value  underinvestment  austerity  productivity  output  gap  public  investment  productive  investment  infrastructure  investment  business  investment  STEM  R&D  competitiveness  Robert  Reich  balance  sheet  recession  deleveraging  debtoverhang  zombie  banks  zombie  corporations  zombie  consumer  macroprudential  policy  miltonfriedman  JohnMaynardKeynes  keynes  Keynesianism  Fiscal  Pact  policy  monetary  policy  Schuldenbremse  unconventional  monetary  policy  QT  Taper  money  supply  money  ve 
february 2016 by asterisk2a
From Ticker - S&P: QE is driving inequality between the generations
Quantitative easing (QE) stabilized the economy but also exacerbated wealth disparity between rich and poor, mainly by boosting financial asset prices and house prices. //&! [ LOW PAY MINIMUM WAGE JOB CREATION ] During the U.K.’s recent “jobs-rich, pay-poor” economic recovery, strong employment gains were accompanied by a further rise of already high wage dispersion and an ever-growing share of part-time employment in lower income groups. //&! In the context of the tight housing market, low interest rates and QE are among the drivers behind the widening wealth and income gap between younger and older generations and between those on the housing ladder and those not on it. //&! Inequality is damaging! // bit.ly/1QtauyZ - Bank of England's recovery policies have increased inequality, finds S&P [...] spending too much on rent, not able to save for deposit! //&! bit.ly/1PPyEYl &! ti.me/1sbBtrz
QE  inequality  reflate  reflation  distortion  recovery  job  creation  Service  Sector  Jobs  UK  USA  fiscal  policy  monetary  policy  monetary  stimulus  unconventional  monetary  policy  Fed  BOE  bank  bailout  zombie  banks  zombie  consumer  zombie  corporations  ZIRP  NIRP  TARP  TLTRO  LTRO  ECB  equity  bubble  asset  bubble  property  bubble  Housing  Crisis  Help  to  Buy  Scheme  Help  to  Save  Right  to  Buy  income  inequality  Gini  coefficient  social  mobility  income  mobility  budget  deficit  austerity  George  Osborne  income  distribution  poverty  trap  tax  credit  low  pay  low  income  squeezed  middle  class  Precariat  Zero  Hour  Contract  Contractor  part-time  Tories  nasty  party  homeless  homelessness  social  affordable  Conservative  Toff  Privileged  Establishment  Funding  discretionary  spending  disposable  income  household  debt  consumer  debt  credit  card  debt  student  loan  debt  student  loan  student  debt  debt  servitude  economic  history 
february 2016 by asterisk2a
What's holding back the world economy? | Business | The Guardian
[ continued financialisation of economy / faustian pact ] QE and low interest rates have disproportionately created wealth in the financial sector and inflated asset bubbles. It has done little for the real economy. The rules of the market need to be rewritten [...] dominant policies during the post-crisis period – fiscal retrenchment and quantitative easing (QE) by major central banks – have offered little support to stimulate household consumption, investment, and growth. On the contrary, they have tended to make matters worse. In the US, quantitative easing did not boost consumption and investment partly because most of the additional liquidity returned to central banks’ coffers in the form of excess reserves. [...] private investment did not grow [...] [ QE supported only financial sector and zombie banks and corporations, little to nothing went into the real economy for investment in western world ] [ which leads us to say we are still in a banking crisis per se ]
Joseph  Stiglitz  secular  stagnation  reflate  reflation  austerity  QE  ZIRP  NIRP  TARP  TLTRO  LTRO  zombie  banks  zombie  corporations  zombie  consumer  Richard  Koo  consumer  debt  household  debt  car  loan  credit  card  debt  Student  Bubble  loan  debt  disposable  income  discretionary  spending  squeezed  middle  class  Precariat  low  pay  low  income  wage  stagnation  income  growth  USA  UK  Europe  western  world  mortgage  market  NPL  debt  servitude  underinvestment  productive  investment  infrastructure  investment  economic  history  policy  folly  policy  error  corporate  welfare  tax  evasion  tax  avoidance  Gini  coefficient  income  distribution  social  mobility  income  mobility  poverty  trap  inequality  recovery  job  creation  Service  Sector  Jobs  distortion  financial  repression  speculative  bubbles  hunt  for  yield  asset  equity  VIX  volatility  Help  to  Buy  Scheme  monetary  policy  liquidity  trap  fiscal  policy  debtoverhang  deleveraging  balance  sheet  recession  consumer  confidence  business  confidence  business  investment  productivity  output  gap  aggregate  demand  income  redistribution  repo  monetary  transmission  mechanism  monetary  system  financial  market  GFC  banking  crisis  retail  banking  investment  banking  hot-money  Frontier  Markets  emerging  market  BRIC  rent-seeking  rentier  carbon  tax  economic  damage 
february 2016 by asterisk2a
UK trade deficit widens further as exports suffer | Business | The Guardian
Nevertheless, the UK’s goods trade gap with the rest of the world widened by £1.9bn to a record high of £125bn in 2015. Howard Archer, chief UK economist at IHS Global Insight, said: “UK exports have clearly struggled in recent months, as they have been hampered by sterling’s overall strength in 2015, particularly against the euro, and moderate global demand. [...] Recent declines in the value of sterling are expected to support exports sales, though the deteriorating global situation could mitigate against an improved exchange rate. [...] “Nonetheless, any progress in reducing the trade deficit is likely to be extremely slow in the near term, leaving the recovery reliant on domestic demand.” [...] [ you can lower your corp tax, but if your country is shitty in business environment ie infrastructure and employee qualifications and immigration ... nobody wants to do business ]
UK  trade  deficit  current  account  deficit  budget  deficit  tax  reciepts  2015  2016  recovery  secular  stagnation  underinvestment  business  investment  austerity  economic  history  global  economy  emerging  market  Frontier  Markets  BRIC  foreign  direct  investment  productive  investment  infrastructure  investment  Richard  Koo  consumer  debt  household  debt  credit  card  debt  car  loan  Student  Bubble  debt  servitude  discretionary  spending  government  spending  disposable  income  generation  rent  ZIRP  NIRP  QE  liquidity  trap  zombie  corporations  zombie  consumer  distortion  financial  repression  speculative  bubbles  hunt  for  yield  fiscal  policy  monetary  policy  BOE  property  Housing  Crisis  George  Osborne  competitiveness  productivity  output  gap  job  creation  Service  Sector  Jobs  corporate  tax  rate  corporate  welfare  subsidies  subsidizing  immigration  migration  Super  Cycle 
february 2016 by asterisk2a
'Panic situation': Asian stocks tumble amid fears of new global recession | Business | The Guardian
central banks have few avenues left to explore to encourage investment and boost growth. Talk of an impending recession in the US, however, is creating speculation among investors that the federal reserve will put on hold its attempts to normalise rates. “The ‘fear factor’ in markets has morphed from being about an emerging market hard-landing and collapsing oil prices to being about the extent of the slowdown in the developed world and the ability of central banks to reflate asset values yet again,” said analysts at Citi in a note. //&! Yield on Japan's 10-year bonds falls below zero - bit.ly/1Leu3JC - Germany, France and the Netherlands are among the countries to see their bonds soar in value, though Switzerland (not in the G7) is the only other country to see demand outstrip supply to such an extent that the yield has dropped below zero. Bonds worth about $7tn (£4.8tn) now have a negative yield rate. //&! BOE Taper expectations go out the window till 2020 - bit.ly/1SdxUhN
global  economy  2016  secular  stagnation  austerity  monetary  policy  fiscal  policy  Taper  ZIRP  QE  NIRP  liquidity  trap  western  world  credit  bubble  China  BRIC  Oil  price  emerging  middle  class  squeezed  middle  class  household  debt  consumer  debt  debtoverhang  deleveraging  balance  sheet  recession  Richard  Koo  USA  UK  Europe  economic  history  credit  card  debt  car  loan  debt  servitude  disposable  income  discretionary  spending  credit  reflate  reflation  VIX  volatility  speculative  bubbles  property  bubble  distortion  asset  allocation  equity  bubble  hunt  for  yield  IMF  OECD  Frontier  Markets  emerging  market  bond  bubble  Fed  BOE  ECB  Abenomics  BOJ 
february 2016 by asterisk2a
As growth falters, Osborne hopes Mark Carney can keep a lid on interest rates | Business | The Guardian
The chancellor faces lower GDP and lower tax receipts as a result. So it’s vital that consumers’ desire to keep spending isn’t hit by a nasty shock from the Bank [ // Confidence Fairy // ] The Bank of England has downgraded its forecasts for the UK’s GDP growth and the outlook for wages, most likely robbing the exchequer of vital income tax receipts. And without the funds to maintain pensions and health service spending, his critics will gleefully play back the speech from last November during which he declared that Britain was on the road to becoming “the most prosperous and secure of all the major nations of the world”. [...] Yet his words ring hollow when so many of the post-crash problems are still with us, from the burden of high private and public debts to Europe’s rapidly ageing population, which encourage saving over investment, and a reluctance from government and big business to boost capital spending.
George  Osborne  secular  stagnation  2016  2015  Mark  Carney  BOE  consumer  debt  household  debt  mortgage  market  subprime  credit  card  debt  zombie  consumer  UK  GDP  output  gap  productivity  job  creation  Service  Sector  Jobs  recovery  economic  history  austerity  underinvestment  business  investment  public  investment  fiscal  policy  monetary  policy  Richard  Koo  Paul  Krugman  David  Cameron  nasty  party  Conservative  Tories  short-termism  credit  bubble  debtoverhang  debt  servitude  disposable  income  discretionary  spending  marginal  propensity  to  consume  Funding  1%  financial  repression  New  Normal  constituency  babyboomers  oligarchy  Gini  coefficient  income  distribution  income  inequality  plutocracy  Super  Rich  tax  evasion  tax  avoidance  corporate  welfare  subsidies  subsidizing  income  growth  low  pay  low  income  wage  growth  economic  growth  precarious  work  Precariat  tax  credit  tax  free  income  corporate  tax  rate  minimum  wage  budget2015  Food  Bank  foreign  direct  investment  productive  investment  infrastructure  investment  demographic  bubble  western  world  USA  European  Union  ageing  population  CapEx  Capital  Expenditure  zombie  corporations  zombie  banks 
february 2016 by asterisk2a
More Evidence Supporting the House of Debt | House of Debt
Many have argued that we overstate the importance of housing and household debt in explaining the Great Recession and weak recovery. They point to the banking crisis, policy uncertainty, or excessive regulation as equally or even more important. The data released today by the BEA show pretty clearly that the arguments we make in House of Debt remain relevant for thinking about economic weakness today. In our view, the explanation we provide is the most consistent with the striking difference in consumption across states. // From Comments: Without real median income rising you can’t grow in an economy based on debt expansion
secular  stagnation  consumer  debt  mortgage  market  household  debt  USA  UK  recovery  GFC  credit  card  debt  debt  servitude  debtoverhang  Richard  Koo  student  loan  debt  Super  Cycle  student  debt  debt  monetisation  debt  monetization  private  debt  fiscal  policy  monetary  policy  book  marginal  propensity  to  consume  consumerist  consumerism  zombie  consumer  discretionary  spending  disposable  income  negative  equity  job  creation  precarious  work  Precariat  low  pay  low  income  Service  Sector  Jobs  job-creation  squeezed  middle  class  Elizabeth  Warren  income  distribution  inequality  Gini  coefficient  income  mobility  social  mobility  American  Dream  post-racial  America  Joseph  Stiglitz  Thomas  Piketty  Paul  Krugman  part-time  Zero  Hour  Contract  Contractor  income  growth  income  inequality  economic  history  Super  Rich  1%  austerity  oligarchy  plutocracy  fiscal  stimulus  budget  deficit  corporate  welfare  tax  avoidance  tax  evasion  corporate  tax  rate  subsidies  subsidizing  welfare  state  social  safety  net  western  world  trickle-down  economics  neoliberalism  neoliberal  Chicago  School  credit  bubble  liquidity  trap  balance  sheet  recession  deleveraging 
february 2016 by asterisk2a
Nasty Gal Layoffs Hit 10 Percent of Staff | Re/code
Online fashion retailer Nasty Gal has laid off 10 percent of its staff, as the purveyor of edgy women’s clothing cuts costs amid an uncertain financing and retail environment. CEO Sheree Waterson told the company in an email that the cuts were necessary as the “market in which we operate is changing, both in retail broadly and apparel specifically.” Nineteen employees across several departments were let go. Nasty Gal also laid off some staff in 2014. The layoffs underscore the difficulty mature e-commerce startups can encounter as they transition from being a hot new brand to the long slog of building a more traditional retail business. In short, building a retail brand is really hard and technology can only afford you so many shortcuts along the way. Online beauty brand BirchBox announced layoffs of 15 percent of its staff last week, as startups in e-commerce tighten belts as investors become more wary of unprofitable growth.
Nasty  Gal  Branding  Brand  e-commerce  Retail  pure  play  Amazon  brick  and  mortar  business  squeezed  middle  class  discretionary  spending  disposable  income  USA  consumption  consumer  debt  household  debt  credit  card  debt  car  loan  student  loan  debt  student  loan  Bubble  low  pay  low  income  Precariat  precarious  work  eBay  zombie  consumer  Primark  status  symbol  status  anxiety  consumerist  consumerism  secular  stagnation  debt  servitude  retirement  pension  scheme  401k  fiscal  policy  austerity  monetary  policy  reflate  reflation  economic  history  recovery  job  creation  Service  Sector  Jobs  emerging  middle  class  western  world  credit  BRIC  emerging  market  Frontier  Markets 
february 2016 by asterisk2a
Christine Lagarde: Housing is key issue for security of UK economy - BBC News
The UK's recent growth, employment progress and deficit reduction have been "strong", the International Monetary Fund (IMF) has said. Underlying economic vulnerabilities, including the supply and demand for housing, have been addressed and steady growth looks set to continue, it said. The IMF's Christine Lagarde said there were still some risks.
UK  Housing  Crisis  property  bubble  generation  rent  speculative  bubbles  Buy  to  macroprudential  policy  fiscal  policy  planning  law  monetary  policy  mortgage  market  austerity  budget  deficit  neoliberalism  IMF  OECD  neoliberal  trickle-down  economics  economic  history  ChristineLagarde  Privatisation  affordable  social  discretionary  spending  disposable  income  consumer  debt  household  debt  credit  card  debt  car  loan  secular  stagnation  wage  stagnation  squeezed  middle  class  Precariat  working  poor  job  creation  Service  Sector  Jobs  low  pay  minimum  wage  low  income  Zero  Hour  Contract  part-time  Contractor  recovery  productivity  output  gap  credit  bubble  debt  servitude  debtoverhang  liquidity  trap  Richard  Koo 
february 2016 by asterisk2a
Ford to cut jobs to save $200m in Europe - BBC News
US car giant Ford has announced plans to cut jobs and save $200m (£138m) a year in Europe. The carmaker said it was launching a voluntary redundancy programme and improving manufacturing efficiencies. It also said it would focus on its most profitable models, such as sports utility vehicles (SUVs). Ford Europe returned to profit for the first time in four years in 2015, as the parent group recorded record profits of $10.8bn. This represented a "good first step", said Ford Europe executive vice-president Jim Farley. //&! Volkswagen has said it will cut investment by €1bn ($1.1bn; £750m) a year as a result of the diesel emissions scandal. - bbc.in/1NGGQu0 //&! Ford hat bereits in den vergangenen Jahren die Kosten in Europa gesenkt. Insgesamt drei Werke wurden geschlossen, davon zwei in Großbritannien und eines in Belgien. Auch in Deutschland hatte sich der Konzern mit den Gewerkschaften auf Einsparungen geeinigt. - bit.ly/1KZpz9C
automotive  autoindustry  secular  stagnation  emerging  middle  class  squeezed  middle  class  economic  history  discretionary  spending  disposable  income  Abgas-Affäre  VW  lobbyist  lobby  Lobbying  carbon  tax  COP21  public  transportation  transportation  car  loan  credit  card  credit  card  debt  household  debt  consumer  debt  western  world  emerging  market  BRIC 
february 2016 by asterisk2a
Amid market turmoil and confusion, there are four key economic trends shaping society
The UK economy currently gets nowhere near its target of 2%. Inflation would decrease the value of current debts, making them less of a burden. In a world without much inflation, it is hard to get wages up. The worse case scenario is that debt costs increase, as prices and wages stagnate. [ ignoring debt and income growth - stagnation at their peril - youtu.be/KIaXVntqlUE - gov is no household budget, Steve Keen + Richard Koo ] [...] And in this age of austerity, these factors will work against governments seeking to reduce the welfare bill. Recent data shows that, in UK cities, growing numbers of low paid jobs have led to rising claims for welfare such as housing benefits, defeating the government’s aims to reduce spending.
economic  history  secular  stagnation  inflation  targeting  nominal  GDP  targeting  fiscal  policy  monetary  policy  inflation  wage  growth  wage  stagnation  squeezed  middle  class  job  creation  Service  Sector  Jobs  low  pay  low  income  minimum  wage  UK  Mark  Carney  austerity  tax  credit  housing  benefit  working  tax  credit  debt  servitude  Super  Cycle  Richard  Koo  liquidity  trap  monetary  transmission  mechanism  monetary  stimulus  debtoverhang  balance  sheet  recession  deleveraging  household  debt  consumer  debt  credit  card  debt  western  world  GDP  wage  inflation  income  growth  disposable  income  discretionary  spending  income  distribution  Gini  coefficient  Super  Rich  1%  inequality  income  inequality  income  redistribution  tax  evasion  tax  avoidance  monetary  system  monetary  theory  student  debt  student  loan  debt  student  loan  Bubble  debt  monetisation  debt  monetization  zombie  banks  monetary  velocity  Niall  Ferguson  NPL  junk  bond  zombie  corporations  zombie  consumer  ZIRP  NIRP  QE  Taper  China  credit  BRIC  output  gap  productivity  industrial  policy  public  investment  productive  investment  business  investment  infrastructure  investment  property  financial  repression  speculative  bubbles  asset  allocation  Generationengerechtigkeit  fairness  money  supply  faultlines  global  imbalances  recovery  working  poor  Precariat 
february 2016 by asterisk2a
James Galbraith, Kate Pickett, Branko Milanovic - Consequences of Inequality and Wealth Distribution - YouTube
free education / land value tax / higher inheritance tax / abolition of private education / more progressive taxation / combat tax avoidance and tax evasion / ... Universal Basic Income //&! New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals - youtu.be/RO8KWTb2iPM - w Joseph Stiglitz and Paul Krugman --- distinguishing between wealth and capital. ignore land (free yourself from Ricardo). land. credit. //&! David Cay Johnston: The Perils Of Our Growing Inequality - David Cay Johnston about his new book, Divided: The Perils of Our Growing Inequality. - youtu.be/ok7ZJ8mS19Y
inequality  income  inequality  Gini  coefficient  education  policy  income  distribution  income  redistribution  tax  free  income  income  mobility  social  mobility  health  inequality  gender  inequality  trickle-down  economics  neoliberalism  neoliberal  welfare  state  social  safety  net  progressive  tax  code  Super  Rich  1%  oligarchy  plutocracy  social  democracy  No  Representation  Career  Politicians  democracy  tax  evasion  tax  avoidance  Universal  Basic  inheritance  tax  financial  literacy  wealth  distribution  wealth-distribution  transferring-wealth  Thomas  Piketty  Joseph  Stiglitz  Robert  Reich  squeezed  middle  class  globalization  globalisation  Paul  Krugman  Elizabeth  Warren  austerity  fairness  Generationengerechtigkeit  fiscal  policy  economic  growth  Supply  and  Demand  Demand  and  Supply  disposable  income  discretionary  spending  credit  bubble  GFC  recovery  monetary  policy  debt  servitude  consumer  debt  household  debt  Student  Loan  debt  debt  credit  card  debt  credit  card  economic  history  macroeconomic  policy  microeconomic  policy  competitiveness  productivity  knowledge  worker  book  monopoly  oligopoly  oligopol  American  Dream  meritocracy  meritocratic  post-racial  America  free  market  freemarkets  dogma  ideology 
january 2016 by asterisk2a
Aberdeen and Edinburgh highlighted in city economies report - BBC News
No Scottish cities were in the top 10 for "low-wage, high-welfare" economies. The 2016 report - described as a "health check" for the 63 largest UK cities - focused on Chancellor George Osborne's vow to build a "higher wage, lower welfare" economy, as set out in the Summer Budget 2015. >> It argued that nearly a million new jobs had been created in cities since 2010 - but that the average salary had also dropped by £1,300 per resident. 'High-wage, low-welfare' << [...] The think tank said the two areas' ability to attract high-skilled jobs - in the oil and professional services industries for example - was the key to their success. It argued that cities with high wages had seen faster jobs growth, with employment rising by 10% since 2010, compared with 3% in low-wage cities. [...] [ Housing Crisis across the country thus ] increased housing benefit payments.
job  creation  recovery  Service  Sector  Jobs  UK  austerity  minimum  wage  living  wage  George  Osborne  neoliberalism  neoliberal  Manufacturing  macroeconomic  policy  microeconomic  policy  low  pay  low  income  tax  credit  child  tax  credit  working  tax  credit  tax  free  income  progressive  tax  code  income  distribution  disposable  income  discretionary  spending  income  inequality  income  growth  wage  growth  secular  stagnation  globalization  globalisation  borderless  flat  world  economic  history  nasty  party  Tories  Conservative  trickle-down  economics  squeezed  middle  class  precarious  work  Precariat  wage  stagnation  income  redistribution  welfare  state  social  safety  net  David  Cameron  budget2015  budget2010  Public  Services  Services  added  value  value  creation  Housing  Crisis  affordable  social 
january 2016 by asterisk2a
This Is What Janet Yellen Thinks Is The "Worst-Case Scenario" For The U.S. | Zero Hedge
So, unfortunately, a Japan-style deflation remains a relevant worst-case scenario for us going forward. //&! What if Fed (Yellen) doesn't support any more the equity market? Just financial stability, banks (bail-in). No more blowing up credit bubble further. - http://bit.ly/1Oqb822
Janet  Yellen  Japan  secular  stagnation  deflationary  deflation  debtoverhang  debt  servitude  consumer  debt  household  debt  credit  card  debt  squeezed  middle  class  working  poor  Precariat  precarious  work  Zero  Hour  Contract  part-time  disposable  income  discretionary  spending  economic  history  Abenomics  equity  bubble  bail-in  speculative  bubbles  distortion  ZIRP  NIRP  QE  credit  bubble 
january 2016 by asterisk2a
The Great Unraveling Looms - Blame The 'Austrians'? | Zero Hedge
Well, well: who would have believed it. First the Bank for International Settlements comes out with a paper that links credit booms to the boom-bust business cycle, then Britain's Adam Smith Institute publishes a paper by Anthony Evans that recommends the Bank of England should ditch its powers over monetary policy and move towards free banking. [...] The BIS paper will be the more influential of the two in policy circles, and this is not the first time the BIS has questioned the macroeconomic assumptions behind the actions of the major central banks. [...] Targeting nominal GDP is not a perfect answer.
credit  bubble  economic  history  BIS  GFC  QE  ZIRP  NIRP  distortion  squeezed  middle  class  secular  stagnation  working  poor  credit  card  debt  household  debt  property  bubble  consumer  debt  monetary  policy  liquidity  trap  monetary  stimulus  monetary  theory  unconventional  monetary  policy  monetary  system  China  USA  subprime  car  loan  debt  servitude  discretionary  spending  disposable  income  Student  debt  Super  Cycle  debtoverhang  sovereign  debt  crisis  debt  bubble  debt  monetisation  debt  monetization  Fed  ECB  BOE  Japan  BOJ  Abenomics  nominal  GDP  targeting  inflation  targeting  wage  growth  wage  stagnation  income  distribution  income  inequality  low  income  income  redistribution  inequality  Gini  coefficient  Super  Rich  1%  plutocracy  oligarchy  group  think  think  tank  vested  interest  interest  groups  lobbyist  lobby  Lobbying  revolving  door  Career  Politicians  No  Representation  social  democracy  democracy 
january 2016 by asterisk2a
Sean Bean’s battle cry: ‘I despair at the state of further education’ | Education | The Guardian
fight to save colleges from threat of funding cuts //&! The Tories’ assault on further education will cost Britain dearly. Colleges have been battered by cuts already – another round could destroy them. It is time we made David Cameron talk about it - http://bit.ly/1QeZ46n
education  policy  social  mobility  income  mobility  social  safety  net  welfare  state  austerity  post  code  lottery  inequality  UK  George  Osborne  Generationengerechtigkeit  Tories  nasty  party  Conservative  David  Cameron  constituency  babyboomers  budget2015  short-termism  budget  deficit  dogma  ideology  Career  Politicians  No  Representation  social  democracy  democracy  fairness  generation  rent  student  loan  debt  student  loan  Bubble  discretionary  spending  disposable  income  student  debt  debt  servitude  consumer  debt  credit  card  debt  household  debt 
january 2016 by asterisk2a
"Markets Crash When They're Oversold" | Zero Hedge
Technology Destroying Jobs + While the big driver of the decline in economic growth since the 1980’s has been a structural change from a manufacturing based economy (high multiplier effect) to a service based one (low multiplier effect), it has been exacerbated by the increase in household debt to offset the reduction in wage growth to maintain the standard of living. This is shown clearly in the chart below. [...] In fact, each job created in energy-related areas has had a “ripple effect” of creating 2.8 jobs elsewhere in the economy from piping to coatings, trucking and transportation, restaurants and retail. Simply put, lower oil and gasoline prices may have a bigger detraction on the economy than the “savings” provided to consumers.
Oil  price  shale  gas  fracking  job  creation  USA  2016  Service  Sector  Jobs  Manufacturing  globalization  globalisation  neoliberalism  neoliberal  borderless  flat  world  economic  history  UK  low  income  wage  stagnation  wage  growth  income  growth  disposable  income  discretionary  spending  consumer  debt  squeezed  middle  class  household  debt  property  bubble  working  poor  precarious  work  Precariat  job  security  job  market  jobcreation  job-creation  recovery  GFC  dogma  ideology  austerity  tax  evasion  tax  avoidance  corporate  welfare  subsidies  subsidizing  lobbyist  lobby  Lobbying  trade  agreement  TPP  TTIP  NAFTA  CETA  European  Union  sovereign  debt  crisis  credit  bubble  China  BRIC  structural  imbalance  global  imbalances  faultlines  2015  presidency  barackobama  ZIRP  NIRP  QE  George  Osborne  private  debt  debtoverhang  debt  servitude  student  loan  debt  student  loan  student  debt  credit  card  debt  car  loan  liquidity  trap  Richard  Koo  balance  sheet  recession  deleveraging 
january 2016 by asterisk2a
Börse: Warum Schwellenländer für die Kurskrise sorgen - Kolumne - SPIEGEL ONLINE
Chronisch überschüssige Leistungsbilanz [ & Over capacity for less/stagnant demand ... + biggest credit bubble (china) popped as the west can't afford more. QE and ZIRP has run it's way! ] [...] Der Grund, warum der deutsche Aktienindex weitaus mehr betroffen ist als andere europäische Indizes, liegt allein an der strukturellen Abhängigkeit der deutschen Industrie von Blasen in anderen Ländern. Anstatt auf bessere Stimmung zu hoffen, sind Anleger gut beraten, sich über den weiteren Verlauf der Schwellenländerkrise Gedanken zu machen. [...] [ Fed taper makes things more difficult to serve debt ] [...] Langfristig sind es die Gewinne und nicht die Zinsen, die die Aktienpreise treiben. //&! China (Asia/BRIC/Frontier Market) Corporate Bond Yields up - bit.ly/1Sme7fV & NPL probably too. //&! If property is biggest item of household wealth in a property bubble (UK, China, ... USA) - bit.ly/1Zpiy8M
trade  deficit  BRIC  credit  bubble  western  world  secular  stagnation  macroeconomic  policy  China  Japan  Germany  UK  USA  Brazil  commodity  prices  Oil  price  NPL  shadow  banking  shadow  economy  banking  crisis  ZIRP  NIRP  QE  QT  speculative  bubbles  property  bubble  mortgage  market  Fed  BOE  ECB  European  Union  sovereign  debt  crisis  household  debt  consumer  debt  credit  card  debt  car  loan  private  debt  corporate  debt  tax  evasion  tax  avoidance  austerity  corporate  welfare  subsidies  subsidizing  Russia  OPEC  aggregate  demand  liquidity  trap  Richard  Koo  Richardkoo  debtoverhang  balance  sheet  recession  debt  servitude  student  loan  debt  Super  Cycle  debt  bubble  student  debt  debt  monetisation  debt  monetization  student  loan  discretionary  spending  disposable  income  squeezed  middle  class  precarious  work  Precariat  working  poor  neoliberalism  neoliberal  globalization  globalisation  borderless  flat  world  trade  agreement  Hegemony  TPP  TTIP  TISA  CETA  NAFTA  Africa  South  Africa  global  trade  trade  balance  current  account  deficit  Frontier  Markets  faultlines  structural  imbalance  global  imbalances  Taper  reflate  reflation  equity  bubble  Abenomics  economic  history  India  irrational  exuberance  Robert  Shiller  inequality  Gini  coefficient  deflationary 
january 2016 by asterisk2a
Plan to end student grants without Commons vote outrages opposition | Politics | The Guardian
[ shifting public debt onto private debt balance sheet. = no vision! debt is still there in economy! paying higher interest rates. -- vs -- bankers gambling debt put on public balance sheet! ] Ministers have been accused of an “outrageous” attempt to sneak through their proposals to end student grants in England without proper scrutiny by MPs. The plan to scrap maintenance grants, which help half a million of the poorest students pay for university life, will go through a legislation committee on Thursday, without a vote and debate on the floor of the House of Commons. [...] Labour is opposing the change and the lack of scrutiny. Gordon Marsden, the shadow universities minister, said it was “not simply technical tinkering but a major change by the government that will deprive around half a million of England’s students from lower income and disadvantaged households, of maintenance grant funding”. // &! NHS nurse bursaries - ind.pn/1IYHYbk &! bit.ly/1IWZJI0 &! bbc.in/1RAhLRv
social  mobility  income  mobility  Gini  coefficient  household  debt  discretionary  spending  disposable  income  student  loan  debt  student  loan  Bubble  poverty  trap  poverty  child  poverty  tax  credit  education  policy  post  code  lottery  affordable  housing  social  housing  University  College  Maintenance  Allowance  Maintenance  Grant  NHS  Bursaries  Career  Politicians  No  Representation  democracy  social  democracy  bank  bailout  austerity  GFC  fairness  Generationengerechtigkeit  NHS  budget2015  nasty  party  Tories  Conservative  George  Osborne  David  Cameron  Manifesto  general  election  2015  election  campaign  promises  babyboomers  Super  Cycle  2016  debt  servitude  consumer  debt  credit  card  debt  debtoverhang  student  debt  fiscal  policy  economic  history  moral  beliefs  ethics  Toff  Privileged  Establishment  inequality  Super  Rich  1%  plutocracy  oligarchy  squeezed  middle  class  working  poor  Precariat  Crisis  cost  of  living  low  income 
january 2016 by asterisk2a
Housing crisis hits 1960s levels as tenants battle to cope, says Shelter | Society | The Guardian
Shelter estimates that 250,000 homes a year, half of them “affordable”, need to be built in England if the crisis is to be addressed. However, latest figures show there were only 135,050 new homes over the past year, a rise of 17%, but still little more than half what is needed. [...] Figures released last week suggest that the number of tenants in serious arrears is rising. There were 84,200 tenants more than two months behind with their rent in the third quarter of 2015, the latest figures available, compared with 74,000 in the second quarter. Government statistics show that the use of bed and breakfast accommodation for homeless families with children is rising. Over the past five years, the number of households living in B&Bs has more than doubled, from 2,050 to 5,270. Meanwhile, the number of homeless households in temporary accommodation has risen by 26% over five years, from 51,350 in 2010 to 64,710 in 2015.
UK  Housing  Crisis  affordable  social  poverty  poverty  trap  disposable  income  discretionary  spending  precarious  work  Precariat  Zero  Hour  Contract  working  poor  low  income  minimum  wage  Gini  coefficient  austerity  David  Cameron  George  Osborne  underinvestment  unemployment  long-term  unemployment  youth  unemployment  structural  unemployment  job  creation  Service  Sector  Jobs  working  tax  credit  tax  credit  child  tax  credit  tax  free  income  Privatisation  Council  inequality  income  inequality  post  code  lottery  health  inequality  commuting  social  safety  net  DWP  Iain  Duncan  Smith  bedroom  tax 
january 2016 by asterisk2a
Student nurses and midwives protest over grants cut - BBC News
Student nurses and midwives have marched in protest at the government's decision to scrap their bursaries in England and replace them with loans. [...] The Royal College of Nursing said fear of debt would put people off training. // shifted another budget item off the publics balance sheet onto private balance sheet. //&! Spending Review: Grants for student nurses are being scrapped - bbc.in/1jk5kLW //&! NHS nursing levels: Nine in 10 hospitals missing targets - The vast majority of hospitals in England are struggling to recruit enough nurses, figures show. Some 92% of the 225 acute hospital trusts in England did not manage to run wards with their planned number of nurses during the day in August. The figures, published by the NHS, show that hospitals in England are falling short of their own targets for levels of safe staffing. - bbc.in/1Pfuzuq
budget2015  PR  Positioning  spin  doctor  George  Osborne  Jeremy  Hunt  austerity  NHS  staff  shortage  staff  morale  locum  staff  tories  nasty  party  Conservative  David  Cameron  general  election  2015  election  campaign  promises  constituency  babyboomers  Generationengerechtigkeit  education  policy  social  mobility  income  mobility  Gini  coefficient  student  loan  debt  student  loan  Bubble  Maintenance  Allowance  Maintenance  Grant  poverty  trap  disposable  income  discretionary  spending  debt  servitude  consumer  debt  credit  card  debt  debtoverhang  student  debt  Super  Cycle  household  debt  private  debt  UK  output  gap  recovery  2015  2016  sovereign  debt  crisis  Privatisation 
january 2016 by asterisk2a
Börsenabsturz in China: Der Kontrollverlust - Kommentar - SPIEGEL ONLINE
Der Börsen-Crash in China ist Symptom eines fundamentalen Wandels: Um den Wohlstand zu erhalten, muss die Regierung immer mehr Kontrolle abgeben. Die Allmacht der kommunistischen Partei gerät ins Wanken.
China  economic  history  SRD  Yuan  macroeconomic  policy  microeconomic  policy  corruption  bribery  regulation  regulators  liberal  economic  reform  economic  refugee  inequality  IMF  AIIB  World  Bank  Hegemony  PBOC  Gini  coefficient  social  safety  net  Services  Public  Services  discretionary  spending  disposable  income  pension  scheme  pension  pension  fund  asset  allocation  capital  allocation  ZIRP  NIRP  QE  credit  bubble  QT  monetary  policy  fiscal  policy  shadow  banking  NPL  2015  2016  shadow  economy  demographic  bubble 
january 2016 by asterisk2a
Young people 'priced out of sport' after leaving school - BBC News
Young people are being squeezed out of sport because a third live in poverty and the cost of taking part is too high, according to a study. [...] Low incomes and debt problems mean even small additional costs are unaffordable, it adds. School sport is often free or very low cost, but this provision ends when young people leave school, says the report. In addition, teenagers are often wary of taking up informal, low-cost sporting activities, fearing anti-social behaviour and poor supervision of open spaces. "It was eye-opening to learn just how much joining in matters to young people, how much informal games, outdoor activity and sport can inspire and motivate them, yet how many children and young people are held back from actively getting involved," said author, Prof Anne Power.
poverty  Sozialpolitik  Integrationspolitik  Perspektivlosigkeit  Perspective  deprivation  working  poor  tax  credit  austerity  UK  Gini  coefficient  inequality  income  inequality  discretionary  spending  disposable  income 
december 2015 by asterisk2a
The roof is being fixed but beware the house crashing beneath it | Business | The Guardian
Consumer spending is driving economic growth but household debt and the house price-income ratio is at a record high. Be afraid [...] It is worth recalling that when Osborne became chancellor five and a half years ago that he had two big objectives. The first was to repair the hole in the public finances, which is still very much a work in progress. The other was to shift the centre of gravity of the economy back towards making things for export. This remains a pipedream. [...] Despite the welcome pickup in business investment, the main driver of growth has been consumer spending, which has been boosted by low interest rates, the fall in inflation caused by lower oil prices, and a modest acceleration in earnings. [...] “not the ideal shape for the recovery” and it can say that again. The current recovery looks like all the previous recoveries. [...] “Fast-rising household debt is needed to maintain a reasonable rate of growth in consumers’ spending and GDP in a world of austerity ...
household  debt  consumer  debt  zombie  consumer  recovery  credit  card  debt  credit  card  materialism  status  anxiety  USA  UK  Super  Cycle  debtoverhang  mortgage  market  Housing  Crisis  debt  servitude  NPL  property  bubble  speculative  bubbles  ZIRP  NIRP  QE  BOE  Buy-to-Let  Help  to  Buy  Scheme  Right  to  Buy  student  loan  debt  debt  bubble  student  debt  private  debt  economic  growth  GFC  fiscal  policy  austerity  industrial  policy  underinvestment  productive  investment  competitive  competitiveness  George  Osborne  dogma  ideology  neoliberalism  neoliberal  David  Cameron  Tories  nasty  party  Conservative  economic  history  energy  policy  energy  price  STEM  Manufacturing  diversity  microeconomic  policy  macroeconomic  policy  Amber  Rudd  debt  monetisation  debt  monetization  secular  stagnation  disposable  income  discretionary  spending  squeezed  middle  class  working  poor  consumerist  consumerism  trickle-down  economics  status  symbol  market  affordable  social  budget2015  marginal  propensity  to  consume  Precariat  tax  credit 
december 2015 by asterisk2a
Blackrock-Vize Hildebrand kritisiert europäische Behörden - SPIEGEL ONLINE
Hildebrand: Nein, dafür sehe ich keine Anzeichen. Aber was mich schon besorgt, ist das Muster, dass frappantes Fehlverhalten europäischer Firmen immer wieder von amerikanischen Behörden aufgedeckt wird. Das scheint mir das wahre Problem zu sein. Ich denke da nicht nur an VW, sondern auch an die Banken oder an die Fifa. [...] Die Amerikaner dagegen sind das Problem schon 2009 angegangen, und die Banken sind schnell wieder gesundet. In Europa hat man es unter den Teppich gekehrt. [...] Europa hat zwei Probleme, und ein wesentliches davon ist ein Nachfrageproblem: Die Wirtschaft ist nicht ausgelastet, auch die Arbeitslosigkeit ist nach wie vor zu hoch. Und die Inflation liegt nahe null. [...] Europa hat auch ein Strukturproblem. Arbeits- und Produktmärkte sind überreguliert. [ Re Credit Bubble ] Niemand weiß genau, was geschieht, wenn diese Politik einmal umgekehrt wird.
VW  bank  bailout  FIFA  corporate  scandal  Volkswagen  sovereign  debt  crisis  too  big  to  bail  Grexit  European  Union  secular  stagnation  self-regulation  regulation  regulators  deregulation  accountability  white-collar  crime  banking  investment  banking  retail  banking  recovery  MarioDraghi  ECB  NIRP  ZIRP  TLTRO  LTRO  QE  GFC  economic  history  debtoverhang  Richard  Koo  fiscal  monetary  Brussels  lost  decade  lostgeneration  lost  generation  Generationengerechtigkeit  austerity  Pact  Schuldenbremse  underinvestment  productive  investment  ageing  population  demographic  bubble  squeezed  middle  class  emerging  middle  class  discretionary  spending  Sozialer  Abstieg  income  distribution  disposable  income  Brexit  credit  bubble  BRIC  emerging  market  Developing  World  western  Niall  Ferguson 
november 2015 by asterisk2a
Robert Reich - Timeline Photos
What about all the ballyhoo about manufacturing jobs coming back to America? Well, some have. But they pay lousy wages. The average wages of production and non-supervisory employees in manufacturing are lower today than they were in 1985, when adjusted for inflation. [...] Bottom line: Most Americans have got zilch out of this recovery. In fact, they’re worse off now than they were in 2000. Meanwhile, the top 0.1 percent is doing fabulously well. More and more people are concluding the game is rigged -- which it is. No one should be surprised at the surge in populist anger on the left and the right.
USA  job  creation  recovery  industrial  policy  wage  growth  wage  stagnation  UK  western  society  western  world  secular  stagnation  squeezed  middle  class  Sozialer  Abstieg  income  growth  economic  growth  disposable  income  income  distribution  income  mobility  income  inequality  income  redistribution  social  mobility  Gini  coefficient  Super  Rich  1%  discretionary  spending  zombie  consumer  credit  card  debt  credit  card  car  loan  2015  GFC  reflate  reflation  globalization  globalisation  flat  world  borderless  competitive  competitiveness  competition  low  pay  low  income  labour  market  labour  economics  Service  Sector  Jobs  Niedriglohn  Niedriglohnsektor  precarious  work  Precariat  working  poor  Joseph  Stiglitz  Robert  Reich  poverty  child  poverty  food  poverty  poverty  trap  generationy  babyboomers  participation  rate  manual  labour  Millennials  retirement  mainstreet  Wall  Street  profit  maximisation  shareholder  value  tax  evasion  tax  avoidance  capital  gains  tax  corporate  tax  rate  dogma  ideology  neoliberalism  neoliberal  republicans  democrats  public  awareness  public  perception  American  Dream  post-racial  America  economic  justice  fairness  bank  bailout  TBTF  too  big  to  jail  too  big  to  bail  Generationengerechtigkeit  budget  deficit  austerity  populism  corporate  corporate  r 
october 2015 by asterisk2a
UK's most expensive city facing 'catastrophe' - BBC News
shortage of supply = unaffordable = nobody can afford to live there, work there, study there. or have to commute from out of town for 1 hour or more. // this is not only a problem in Oxford. NHS Grampian has problems of recruiting because unaffordable house prices and rents pushed up by Oil Industry and the lack of new housing. Same for teaching jobs. // all the while building companies make pumper profits and even skirt around the edges to lower the ratio of social and affordable housing they have to provide with each new big project. its in their interest, if prices were to fell, they would make less money. so they build not enough to keep up with demand at all. and not enough so each new builds profit rises because of risen demand and people willing to pay more for the same house or flat from previous year or two or three despite no real improvement in the build technically/energy efficiency wise/or architecture wise - modern, wide open, big windows. //
UK  Housing  Crisis  green  belt  Supply  and  Demand  Demand  and  Supply  property  bubble  speculative  bubbles  generation  rent  Generationengerechtigkeit  fairness  babyboomers  vested  interest  interest  groups  mortgage  market  shared  economic  interest  commuting  quality  of  life  standard  of  living  cost  of  living  city  living  disposable  income  discretionary  spending  underinvestment  productive  investment  NHS  Grampian  Public  Services  Social  Services  Tories  nasty  party  Conservative  distortion  ZIRP  NIRP  QE  hot-money  credit  bubble  China  capitalism  collusion  Policy  Makers  lobbyist  lobby  Lobbying  affordable  cost  of  entry  cost  center  cost  of  ownership  cost  of  Career  Politicians  No  Representation  democracy  interest  minority  folly  error  competitive  competitiveness  macroprudential  Buy  to  Help  to  Buy  Scheme  Right  to  Buy  fiscal  austerity  deprivation  urbanisation  urban  planning  monetary  unknown  unkown  unintended  consequences  general  election  2020  George  Osborne  David  Cameron  Toff  Privileged  Establishment  Entitlement  Millennials  generationy 
october 2015 by asterisk2a
Profit mean reversion and recession | Credit Writedowns
We are now in the seventh year of a cyclical recovery and bull market. Shares have tripled in that time frame. I would say this means we are much closer to the end of the business cycle than the beginning. Moreover, as Jeremy Grantham is quoted in the Business Insider piece, profits are mean-reverting and right now they are reverting from a phase that is “wildly optimistic” according to Warren Buffett. All of this is taking place against the backdrop of an economy in which wage growth is weak, household debt is still relatively high on a historic basis as a percentage of income and we have no policy room on the monetary side, with limited political appetite for policy on the fiscal side. To me, the pre-conditions for this profits recession speak to downside risk, ....
recovery  business  cycle  financial  cycle  private  debt  household  debt  consumer  debt  Student  Loan  Bubble  car  credit  card  debt  deleveraging  Richard  Koo  debtoverhang  austerity  fiscal  policy  economic  history  monetary  policy  job  creation  Service  Sector  Jobs  western  world  secular  stagnation  Niall  Ferguson  wage  stagnation  wage  growth  income  distribution  Gini  coefficient  inequality  trickle-down  economics  neoliberalism  neoliberal  Wall  Street  bank  bailout  budget  deficit  UK  USA  Schuldenbremse  Pact  sovereign  debt  crisis  Positioning  mainstreet.org  Germany  disposable  income  discretionary  spending  income  growth  low  income  crony  capitalism  reflate  reflation  Career  Politicians  constituency  fairness  Generationengerechtigkeit  Niedriglohnsektor  lobbyist  lobby  Lobbying  corporate  welfare  tax  evasion  tax  avoidance  income  inequality  social  mobility  social  contract  political  theory  income  mobility  Standard  American  Diet  equity  credit  ZIRP  NIRP  QE  BRIC  BOE  Fed  Fed  mandate  BOJ  PBOC  distortion  2015  ECB  Super  debt  servitude  zombie  consumer  zombie  banks  zombie  corporations  junk  bond  Taper  QT  irrational  exuberance  asset  allocation  capital  allocation  speculative  bubbles  commodity  prices  Oil  price  inflation  expe 
october 2015 by asterisk2a
Matthew Hancock ripped apart on Tax Credits, welfare, etc. (05Oct15) - YouTube
- still worse off. [...] "we gotta make the savings." << morality - taking from the poor and letting tax evasion and avoidance go on. and other corporate welfare policies, that don't pay their taxes in the end.
child  tax  credit  working  tax  credit  tax  credit  budget2015  George  Osborne  David  Cameron  Tories  austerity  fairness  Generationengerechtigkeit  Conservative  Party  neoliberalism  neoliberal  minimum  wage  living  wage  Labour  Party  general  election  2015  election  campaign  promises  constituency  working  poor  poverty  trap  child  poverty  precarious  work  low  income  Precariat  PR  reframing  framing  spin  doctor  welfare  state  social  safety  net  DWP  Iain  Duncan  Smith  NHS  Jeremy  Hunt  fiscal  policy  bank  bailout  justice  injustice  morality  Career  Politicians  No  Representation  tax  free  income  part-time  Zero  Hour  Contract  Contractor  social  political  theory  income  distribution  Super  Rich  1%  tax  evasion  tax  avoidance  inequality  Gini  coefficient  food  poverty  poverty  social  mobility  income  mobility  Education  Maintenance  Allowance  Student  Maintenance  Grant  Student  Loan  Bubble  disposable  income  discretionary  spending  wage  stagnation  wage  growth  income  growth  productivity  output  gap  recovery  reflate  reflation  monetary  policy  subsidies  subsidizing  democracy 
october 2015 by asterisk2a
More jobs paying below living wage - BBC News
'Prevalent' low pay The ONS figures show that the proportion of jobs paying below the living wage has grown. In 2014, young adults were most likely to be paid less than the living wage. Some 58% of jobs carried out by 18 to 24-year-olds outside of London and 48% of jobs in this age group in London were paid less than the living wage. In accommodation and food services in 2014, an estimated 65% of jobs paid less than the living wage in London and 70% in the rest of the UK. Northern Ireland had 29% of jobs paying below the living wage, the highest in the country. At the other end of the scale, 19% of jobs in the South East of England, London and Scotland paid below the living wage. [...] "These figures demonstrate that while the economy may be recovering as a whole, there is a real problem with ensuring everyone benefits, and low pay in still prevalent in Britain today."
Niedriglohnsektor  job  creation  job  market  Lohnzurückhaltung  lohndumping  low  income  Service  Sector  Jobs  working  poor  precarious  work  Precariat  Zero  Hour  Contract  Contractor  self-employment  labour  market  labour  economics  recovery  UK  disposable  income  discretionary  spending  job  security  poverty  trap  child  poverty  food  poverty  poverty  Gini  coefficient  social  mobility  income  mobility  income  distribution  income  inequality  income  redistribution  budget2015  child  tax  credit  tax  credit  working  tax  credit  tax  free  income  minimum  wage  living  wage  Education  Maintenance  Allowance  Student  Maintenance  Grant  Higher  Education  policy  post  code  lottery  vocational  professional  career  ladder  austerity  George  Osborne  2015  dogma  ideology  Tories  neoliberalism  neoliberal  Conservative  Party  PR  spin  doctor  reframing  framing  Positioning  David  Cameron  Iain  Duncan  Smith  DWP 
october 2015 by asterisk2a
Perhaps austerity didn't choke off UK recovery - BBC News
But, as I mentioned, the disclosure that we were a bit richer in the last parliament than we thought is not all fabulous news for the chancellor. He and his Treasury colleagues should probably be anxious that the faster growth did not translate into higher tax revenues. In case you need reminding, George Osborne singularly failed to hit the deficit reduction targets he set himself. But the explanation can no longer be that the economy flatlined, because that's not what happened. So if the higher-than-thought growth in the last parliament left the gap between government revenues and expenditures tens of billions of pounds greater than George Osborne hoped, it also suggests that his aspiration of eliminating the deficit in this parliament may prove equally elusive. //&! Despite strong employment growth, wage growth remained historically weak - the usual link between falling unemployment and rising wages seemed to have been broken. - bbc.in/1OEffcS
trickle-down  economics  tax  evasion  tax  avoidance  self-employment  employment  working  poor  precarious  work  job  creation  Service  Sector  Jobs  Niedriglohnsektor  George  Osborne  austerity  economic  history  recovery  budget  deficit  fiscal  policy  property  bubble  credit  bubble  mortgage  market  excess  reserves  zombie  banks  zombie  corporations  zombie  consumer  Richard  Koo  academics  academia  IMF  Paul  Krugman  Gini  coefficient  inequality  underinvestment  Joseph  Stiglitz  private  debt  household  debt  credit  card  debt  credit  card  debt  servitude  disposable  income  discretionary  spending  wage  stagnation  wage  growth  income  growth  low  income  income  distribution  squeezed  middle  class  Sozialer  Abstieg  productivity  output  gap  Niall  Ferguson  secular  stagnation  underemployed  structural  unemployment  structural  imbalance  faultlines  Impediments  skills  gap 
october 2015 by asterisk2a
« earlier      
per page:    204080120160

related tags

1%  2.0  3D  10%  20%  401k  Abenomics  Abgas-Affäre  Abstieg  abundance  academia  academics  Academy  account  accountability  accounting  added  advantage  advice  AfD  affordable  Africa  against  age  ageing  Agenda  aggregate  agreement  AIIB  ALG2  Alibaba  all  allocation  Allowance  alternative  Amazon  Amber  America  American  amnesty  and  Angela  anti-trust  antitrust  anxiety  apprenticeships  Area  asset  Aufstocker  augmented  austerity  auto  autoindustry  automation  automotive  autonomous  aversion  avoidance  awareness  babyboomer  babyboomers  bad  badbank  Bahamas  bail  bail-in  bailout  balance  bank  banking  bankruptcies  bankruptcy  banks  barackobama  Basic  bed  bedroom  behavior  behavioral  being  beliefs  belt  Ben  benbernanke  benefit  Bernanke  Bernie  BernieSanders  Beton  Betongold  big  binge  BIS  blocking  Blue  Blue-collar  Blyth  Board  BOE  BOJ  bond  book  borderless  borrowing  Brand  Branding  Brazil  Brexit  bribery  BRIC  brick  British  broke  Brussels  BuBa  bubble  bubbles  budget  budget2010  budget2015  budget2016  Bundesbank  Bursaries  business  Buy  Buy-to-Let  buyback  Call  Cameron  campaign  CapEx  capital  capitalism  car  carbon  carbonemission  carbonfootprint  card  care  career  Carillion  Carmageddon  Carney  cars  Cartel  CaymanIslands  CDO  CDS  center  centralbanks  CEO  CETA  change  Chicago  child  China  choice  ChristineLagarde  chronic  city  class  Clinton  code  coefficient  cohesion  coldprogression  College  collusion  commoditization  commodity  commuting  company  competition  competitive  competitiveness  confidence  conflict  conglomerate  consent  consequences  Conservative  consolidation  constituency  consume  consumer  consumerism  consumerist  consumption  contract  contractor  contracts  convenience  COP21  Corbyn  corporate  corporations  corporatism  correction  correlation  corruption  cost  Council  creation  Creative  Creatives  credit  creditcard  creditcrunch  creditrating  creditrisk  crime  Crimea  crisis  crony  crunch  culture  currency  currency-war  current  customer  cut  cycle  damage  David  Davos  debasement  debt  debtoverhang  decade  deficit  deflation  deflationary  deleveraging  demagogue  demagogy  demand  democracy  democrats  demographic  Dems  depletion  Depression  deprivation  deregulation  destruction  Deutsche  devaluation  developed  Developing  Diet  differentiate  differentiation  direct  Disabled  discretionary  discrimination  disposable  distortion  distribution  diversity  divide  DIY  doctor  dogma  Dollar  Donald  DonaldTrump  door  dot.com  double  downward  Dream  Duncan  Duopoly  DWP  e-commerce  earned  East  eBay  ECB  economic  economics  economy  Ed  education  efficiencies  election  Electric  Elizabeth  emerging  employment  energy  Entitlement  entry  equality  equity  error  ESA  Establishment  ethics  Euro  Europe  European  evasion  excess  expectation  Expenditure  expense  exploitation  export  Exportweltmeister  exuberance  Facebook  Fachkräftemangel  fairness  Fairy  far-right  fault  faultlines  FCA  fear  Fed  Ferguson  fiat  FIFA  finance  financial  finite  fiscal  flat  folly  FOMO  food  for  foreign  fracking  fractional  framing  France  Francisco  Frank  free  freelance  freelancing  freemarkets  Frontier  frothy  fuel  fund  Funding  FX  G8  G20  gains  Gal  gap  gas  GBP  GDP  GE2017  gender  gender-based  general  generation  generational  Generationengerechtigkeit  generationy  George  Germany  gesellschaft  GFC  gig  gini  global  globalisation  globalization  glut  GNP  Gold  Google  GOP  Governance  government  Grampian  Grant  Great  greatrecession  Greed  green  Greenspan-Put  Grexit  Grid  group  groups  growth  Grundeinkommen  Hammond  hartz-iv  headwinds  health  healthcare  Hegemony  Help  herd  herding  High  Higher  HighStreet  Hillary  HillaryClinton  history  HMRC  homeless  homelessness  homeownership  hot-money  hour  household  housing  HRC  HS2  hubris  hunt  Iain  Identity  ideology  imbalance  imbalances  IMF  Immelt  immigration  Impediments  in  Inc.  incentive  income  India  industrial  industry  inequality  inflation  infrastructure  inheritance  injustice  innovation  insecurity  insolvency  Integrationspolitik  intelligence  interest  intervention  interventionism  investment  irrational  IRS  Jack  jail  JAM  Janet  Japan  Jean-Claude  Jeff  Jeremy  Jerry  job  job-creation  jobcreation  Jobs  JohnMaynardKeynes  Joseph  josephstiglitz  JSA  jubilee  Juncker  junk  justice  kalte  Kaplan  Keen  KennethRogoff  keynes  Keynesianism  knowledge  Konsum  Koo  Krugman  Kulturteilhabe  labour  ladder  Larry  Latin  laundering  law  lease  leave  legal  Leiharbeit  Lending  leverage  LGBT  liberal  Liberalism  life  lines  liquidity  literacy  living  loan  lobby  Lobbying  lobbyist  Lock  locum  lohndumping  Lohnzurückhaltung  London  long-term  loopholes  loopoles  loss  lost  lostgeneration  lottery  low  LTRO  Lügenpresse  Ma  macroeconomic  macroeconomics  macroprudential  Main  mainstreet  mainstreet.org  Maintenance  Makers  malaise  malinvestment  mandate  Manifesto  manual  manufactured  Manufacturing  Margaret  margin  marginal  MarioDraghi  Mark  market  Marketplace  Markets  Marktwirtschaft  Mason  materialism  maternity  maximisation  maximization  May  mechanism  media  mental  meritocracy  meritocratic  Merkel  MervynKing  microeconomic  middle  migration  Miliband  Millennials  miltonfriedman  mindestlohn  Minijob  minimum  minimumwage  minority  Mittelstand  Mobile  mobility  model  monetary  monetisation  monetization  money  moneysupply  monopoly  moral  morale  morality  mortar  mortgage  MSM  multinational  multiplier-effect  Mutual  NAFTA  nasty  national  negative  neoclassical  neoconservatism  neoconservatives  neoliberal  neoliberalism  net  New  Newsfeed  NHS  Niall  NiallFerguson  NIC  Niedriglohn  Niedriglohnsektor  NIRP  No  nominal  non-performing  Normal  Northern  NPL  OAP  obligation  Ocean  OECD  of  offshore  Ofsted  Oil  old  oligarchy  oligopol  oligopoly  OMT  on-demand  OPEC  Opportunism  opportunist  Osborne  output  outsourcing  ownership  Pact  Panama  Papers  part-time  participation  Partnership  party  paternity  Paul  pay  payday  payment  PBOC  peak  pension  perception  personal  Perspective  Perspektivlosigkeit  petrodollar  Petroleum  PFI  Philip  PIGS  PIIGSFB  Piketty  planning  Platform  play  plutocracy  Polarisation  policy  political  politician  Politicians  Politics  poor  population  populism  Positioning  post  post-capitalism  post-racial  Pound  poverty  power  Powerhouse  PR  Precariat  precarious  presidency  presidential  price  prices  Primark  printing  private  Privatisation  Privileged  product  productive  productivity  professional  profit  progress  Progression  progressive  Proletariat  promises  propaganda  propensity  property  protection  Protest  public  purchasing  pure  QE  QT  quality  quo  R&D  race  rat  rate  RAWerner  receipts  recession  Rechtsruck  reciepts  recovery  recycling  redistribution  refinancing  reflate  reflation  reform  reframing  refugee  regulation  regulators  Reich  Religion  renewable  rent  rent-seeking  rentier  repo  Representation  repression  republicans  Research  reserve  reserves  resource