Train Strikes

I don't disagree with your thoughts process but economically if wages start chasing inflation without any restriction in the supply of money itvwill just spiral and spiral. You can't control inflation by putting more money in people's pockets, it's why the age old solution to inflation is increased unterest rates because it does the opposite.

The poorest - those that actually rely on non wage earnings - will be the ones that suffer most if that happens because benefits will never keep pace with the other increases

 

This is the problem with capitalism isn't it, there will always be someone losing out to market forces. It's always swayed to favour those with the most.

 

And the alternative, socialism, means everyone levelling DOWN....

 

No system ever favors the people at the bottom. It's impossible for everyone to "win" and it's never those at the top that lose.

 

Socialism isn't the only alternative to capitalism.

 

It is interesting that Huge pay increases sometimes involving £millions to owners etc are made with no mention of inflation by the government, Yet a few pounds increase for the workers they say will have devastating inflation effects and should be kept to a minimum to avoid increasing inflation,
The link between inflation and wages is a tenuous one at best unless at a huge level, Many more events effect it by much more including a reckless government

 

Now we have barristers out on strike with regards legal aid not covering extra work that has to be done by the barrister's.

 

If only the greedy buggers hadn't been fiddling the legal aid system.......
My heart bleeds for them

 

Having small numbers of wealthy people get additional funds doesn't have the same inflationary impact as having a lot of the population increasing their buying power at the same time.

Its not just wages though. Its the fact that there's been 2 years pent up funding/demand. A lot of the people at the bottom have struggled through the last year but a lot of the people in the middle (the type who have 1 or 2 decent sized holidays every year) have never had the sort of government help that they had done over the last 2 years and been able to build funds. It's why despite there being a "cost of living crisis" every element of middle class discretionary spending is booming.

 

It depends. There are two basic types of inflation - demand pull inflation and cost push inflation.

Demand Pull is where there is too much money (ie wages) chasing too few goods, so it becomes a bidding war, forcing prices up. That's not what we have at the moment. We've got a plethora of cost push issues caused mostly by supply shortages (oil, grain etc) due to the Ukraine war and other issues, plus additional bureaucracy caused by Brexit pushing up costs, which are then passed on in higher prices.

It doesn't matter how hard people do or don't work, that's not going to help the current situation much, which is caused by external factors.

Most people have seen their real wages drop relentlessly since 2010. It's the biggest fall in real wages in living memory. At the same time the remuneration of the richest in society has exploded beyond all reason and previous experience. How much of that vastly increased wealth are those people ploughing back into investment in our economy to grow the common good? Answer: next to nothing. We've had an investment strike by the rich for two decades, who choose to squirrel away their riches offshore to avoid the taxes that could pay for better infrastructure and public services.

There's only so much that people can take before they start fighting back to stop the further erosion of their living standards and protect their families.

 

One of the causes of inflation is the continued printing of money, £Billions has been printed and given to the banks and others that has flooded through the economy.

 

It's a bit of both though at the moment that isn't filling any textbook definition of previous inflation.

We've got a lot of cost increases but the majority of people are actually accommodating them within their spending. Airports are full, people are buying houses like they're going out of fashion, beer is £5+ a pint and the pubs are full. Just spent a weekend with 200,000 other people at Glastonbury and if anyone wants to tell me people are cutting back there was no evidence of it there.

We're not getting all the textbook examples of cost push inflation (bankruptcies, insolvencies, job losses, recession, etc) which can only be that despite prices going up demand is continuing to be high. The only reasonable expectation from that is simply that MOST people can currently absorb the price changes. That's definitely not to say that everyone can by any means and it's garbage for those that can't but we always knew that inflation hits the poorest the hardest which is why it should always be high on the list of priorities to avoid but unfortunately for the last 2 years governments all over the world have done the exact things that cause it. It's probably a bit late to complain about those things now.

The sad reality is that we probably need people to actually spends some of the reserves they've built up and we'll then reach some sort of equilibrium again between supply and demand. The natural response to inflation is to push for wage increases to balance that out but as I said earlier that's when it spirals because the equilibrium point doesn't get hit.

 

Almost exactly what i've been saying whilst plenty will struggle then plenty won't, more of a disruption than a 'crisis' ,over a million job vacancies, government should reduce taxes rather than increase wages....

 

Are they striking this Saturday ?

 

Quality from Eddie Dempsey.

Explains it all pretty readily despite the nonsense slant attempted by the host.

 

What else should they look at, Tony?

 

A right wing TV show host, are you sure ? you wouldn't find one on BBC, ITV, Channel 4 or Sky..
You should watch/listen to the likes of GBNews or TalkTV to see what's really going on..
Typical dinosaur union bully showing exactly why the unions need putting back in their box, doubt this bloke has ever done a days work in his life...

 

Lol, defend the super rich mate, blame the workers.

Turkey voting for Christmas, have you been doing that your whole life?

 

Truly sorry you feel that way but pleased for you that you appear to be shielded from the real world..

 

No mention that one in five of all train drivers earned over £70k last year. Wouldn't mind being a couple of grand behind them.