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    Todays Inflation

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    hughh
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    Todays Inflation

    Post by hughh on Sat 26 Oct 2013, 12:45 pm

    Many workers are now moaning that their pay rises are not keeping up with inflation which I understand is 1%. The way almost everyone on this forums supports left wing labour they cannot have suffered like many thousands of us did under Harold Wilson. Inflation was 10% and more and with pay rises of 1% over several years we had to really cut back on our spending. While members of strong unions getting inflation busting pay rises the rest of us really suffered. Tory party may hurt the poor Harold Wilson left wing party made many of us poor.
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    papa_umau
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    Re: Todays Inflation

    Post by papa_umau on Sat 26 Oct 2013, 1:16 pm

    We have had many inflationary years in the past both under Labour and under Tory controlled governments and while inflationary systems of the past have now been recognised by all politicians it is now seen by all as a very important pledge to keep inflation down.

    Both of the two main parties have presided over "boom-and-bust" economics, ( none greater than the one where the world-wide banks brought many powerful countries to their knees by reckless and greedy policies ), and now the whole world is careful about this ever happening again.

    Even as George Osborne is boasting about "UK economic output rising by 0.8% between July and September" and connecting this news to what he calls a "strong recovery" the rest of the country know that not until wages start to rise to compare with this growth and prices start to get lower will we feel any better about life in "austerity" Britain.

    Sadly, while our wage-rises are frozen or held down to single figures - if we are lucky -  politicians wages are to rise by eleven percent very soon and the incomes of the people at the top of all of the country's companies are rising at multiple rates of the inflation figures.

    While the Tory coalition are in charge the rich continue to get richer and the poor continue to get poorer, and we can expect no change in this in the near or distant future.

    That is the truth and the whole truth Hughh and not until you recognise this will you truly be one of the tortured workers of this country.


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    Re: Todays Inflation

    Post by Angie baby on Sat 26 Oct 2013, 1:51 pm

    While the inflation rate is standing at 2.7 percent at the moment our wages are either dropping, frozen, or are rising by around 1 percent.

    If this keeps going and the cost of living keeps rising our income is going to be eroded away to nothing.

    I don't know about you Hugh, but even as a well-paid teacher I find it hard to pay all of the bills and come out at the other end without debt.

    I hope you enjoyed your holiday in Tenerife as it has been a few years since I have had a holiday of any kind in the sun.
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    Re: Todays Inflation

    Post by hughh on Sat 26 Oct 2013, 2:49 pm

    Just imagine now how hard it was for my family when I was getting between 0 and !% pay rise and inflation at 10% and more at times. For 4 years. You are struggling at a difference of 1.7% so you should understand my feelings for the labour party. The problem was people chasing and getting inflation busting pay rises made the matter worse for those who couldn't including pensioners. PS my first holiday abroad was after I retired.
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    Re: Todays Inflation

    Post by hughh on Sun 27 Oct 2013, 11:12 am

    It may seem very cruel of the Tories keeping pay levels down below inflation but in fact a wise move. During the days of Harold Wilson workers were trying to keep up with inflation some did manage to keep in line, but thousands of the poor really suffered. What they are trying to do at the moment is dragging it back down. Chasing it a complete waste of time.

    11% pay rise for MPs is set by an independent panel. Many of the back benchers will take it but a lot of them will be unemployed in a couple of years. Not saying this rise is fair. but some thing to keep in mind.

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    Re: Todays Inflation

    Post by papa_umau on Sun 27 Oct 2013, 12:12 pm

    Many governments of the past have blamed wage-inflation for putting up prices, but I have always thought that the trigger worked the other way round with price rises pushing up wage demands.

    If the Retail Price Indices, or ( RPI ), pushes up price inflation we have to have wages that at least hold their own with this ever-rising rate.

    If we don't then the value of the money in our pockets gets eroded until our standards of living could drop to the levels of some of the banana republics in the third world.

    As I see it, the rich are protected from this kind of inflation as they have the monetary reserves, but the poor and the people that live from hand to mouth do not and every degree of difference between the cost of living and the value of our wages effects the ordinary people much more than it effects the rich.

    Because the Labour party have always been closer to the ordinary people than the Tories have ever been this single fact means that we can trust the Labour party more than we can trust the Tories.

    Simple as that really !


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    Re: Todays Inflation

    Post by hughh on Sun 27 Oct 2013, 1:06 pm

    It seems to me every one on here as done well under the labour party and been hurt by the Tories myself I have done well under the Tories and an hard time under Labour. Most of my life I have worked below the now minimum wage and worked long hours to make ends meet. We managed to get an 100% mortgage and bought this house for less than 20k. Any spare cash we purchase points in a grand vacation club. The reason we are able go on winter vacations when air fares are not to expensive.
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    Re: Todays Inflation

    Post by papa_umau on Mon 28 Oct 2013, 11:45 am

    While you may or may not be right about that Hughh, I am sure that more people were hurt by Thatcher's "right to buy" legislation than ever found a better life through it.

    Because Thatcher wanted the ordinary people to back her vision of everybody in this country being home-owners she drew a lot of people into debt that were never in debt before. After she destroyed the best quality rentable-sector stock by giving people mortgages that they simply could not service there were more forced evictions for non-payment of mortgages than had even been seen in Britain before.

    All that was left of the rentable stock was the rubbish that was to be found in the bottom end ghettos where very few people wanted to live. Now we see greater numbers of homeless families, people living on the streets and people begging than ever before.

    The governments that kept raising the minimum wage to levels that was worth going to work for were always the Labour governments and now that we have decent levels of the minimum wage and even what is now known and applied by the most enlightened employers as "the living wage" we are seeing the poverty trap being reduced.

    I am sure that there are many ex-service-people like yourself that think well of Thatcher and what she did for them, but I might suggest that they do not really know the witch that had always been hidden beneath that plausible exterior of hers.


    Last edited by papa_umau on Mon 28 Oct 2013, 12:14 pm; edited 1 time in total


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    Re: Todays Inflation

    Post by hughh on Mon 28 Oct 2013, 12:07 pm

    The right to buy was a very good idea if only the Tories had stayed in power to reinvest in more council houses with the money raised. It would have created worth while jobs in the private sector. Blair & Brown wasted the money. PS my home is not ex-council.

    Tories have plans to build council houses now the recovery well on its way.
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    Re: Todays Inflation

    Post by papa_umau on Mon 28 Oct 2013, 12:25 pm

    The "right to buy" SOUNDED like a good idea on paper after the local authorities were forced to give the sitting tenants a massive discount, but in fact many thousands of people were attracted into the scheme that simply could not afford to service their mortgages afterwards.

    What was worse was that the Tories refused to allow the money that came in to the local authorities via this "right to buy" scheme to be put to the building of more low-cost housing, and we are still suffering because of this housing shortage today.

    Osborne will try to tell you that "the recovery is on the way" but those of us that can read between the lines know that the tiny "green shoots" ( of Tory Chancellor,  Norman Lamont fame ), this recovery is very fragile and still has to be passed down to the  ordinary man on the street.


    Last edited by papa_umau on Tue 29 Oct 2013, 11:33 am; edited 1 time in total


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    Re: Todays Inflation

    Post by hughh on Mon 28 Oct 2013, 3:13 pm

    From what I have read and understood the original idea for the right to buy was in a labour manifesto. The mortgage repayments people were paying was less than the council rent which I know is true because my Brother in law brought one. Also you had to have been in the council house for many years and been a good rental payer. The discount you got depended on how long you had been paying rent. The thousands who did purchase their own homes are now living rent free in retirement
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    Re: Todays Inflation

    Post by papa_umau on Tue 29 Oct 2013, 11:48 am

    Please don't get me wrong Hughh, as I feel it is a good thing that ordinary people who work hard SHOULD get the chance to live in the house that they own. Not least because people who own a house are much more likely to look after it than renters might do.

    My whole argument about Thatcher's right-to-buy scheme was the fact that many people were encouraged to take on mortgages that they simply could not afford. ( most of the homes bought with mortgages turned out more costly than when they were just rented ), even if a few were cheaper on a mortgage than on a rent.

    It is an undeniable fact that repossessions rose to astounding numbers during that time-period.

    Another one of the actions that the right-to-buy scheme encouraged was the trend that many people who got those massive discounts only held on until the minimum period had passed and then they offloaded them for a tidy profit to the privateer buy-to-rent sector, and that is why we now have so many private landlords screwing their customers royally with high private rents today.


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    Re: Todays Inflation

    Post by hughh on Tue 29 Oct 2013, 7:10 pm

    They did their best to ensure buyers would be able to keep up with their repayments by checking their past rental records. Mortgage repayments after a year or two was much lower than rent on the same type of property. The risk buying an house with an 100% mortgage in my case turned into a good investment. I am now living in my own home with no rent to worry about.

    I understand that repossessions are much higher now than then because houses devalued. My £16,000 house rose to £150,000 but now around £100,000 which doesn't concern me because I have no interest in selling. A nice semi with a nice garden front and rear and 200yards from a forest.

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    Re: Todays Inflation

    Post by zathrus on Thu 31 Oct 2013, 12:14 pm

    HI Hugh.

    It is great that you made out of the right-to-buy scheme as I am sure many more people did. That was the honey on the stick that Thatcher threw at the council renters that thought that they could handle a mortgage. With the massive discounts that were offered it is not surprising that a lot of people who never thought that they could ever own their own homes jumped at the chance.

    Of course Thatcher knew that the people that she had helped in this way might vote for her in the future. In other words she bought those votes.

    She was not wrong about that as afterwards a few working class people like yourself started to fancy themselves as Tories and did vote for her.

    Thatcher was clever, if she was nothing else !
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    Re: Todays Inflation

    Post by hughh on Thu 31 Oct 2013, 12:40 pm

    Zathrus you seem to know things about me that I DON'T KNOW, right to buy, the house I bought as never been a council property. I have never ever voted for the conservative party which I have stated many times.

    The right to buy was in fact a labour idea and then done by Margaret Thatcher
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    Re: Todays Inflation

    Post by papa_umau on Fri 01 Nov 2013, 12:03 pm

    I think that getting this idea from a third-party observer might be a good thing.

    Have a look at the comment written in the Guardian newspaper about this HERE.


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    Re: Todays Inflation

    Post by hughh on Fri 01 Nov 2013, 4:15 pm

    You had to be in a council house a number of years before you were allowed to buy. Going private straight the way worked out quite well for me. This property would have been out of my reach otherwise. Shame they didn't use the sales money to build more council houses.
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    Re: Todays Inflation

    Post by papa_umau on Sat 02 Nov 2013, 12:28 pm

    SO... you agree that Thatcher BOUGHT votes from the kind of people that lived in council houses that would not normally vote Tory simply because they might have thought afterwards that she was a good egg and was looking after their needs.

    I think that most of these people now know it was a trick and that Thatcher did not, in fact, give a damn about them.

    She just wanted their votes, and by all accounts and three terms of office she did get them.


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