Brexit.

[seafoid]

The decline in UK real wages since the pre-crisis peak is the most severe in the OECD, equal only to Greece. Both countries saw declines of 10.4% per cent between 2007 Q4 and 2015Q4.

http://touchstoneblog.org.uk/2016/07/uk-real-wages-decline-10-severe-oecd-equal-greece/ show less

[ludermor]

How is £1 to €1.10/11 below parity?

After commission and fees, i was coming through Gatwick at the weekend and the currency exchange was 98c to the Pound.

[bennydorano]

Currency exchange for the ill prepared.

[ludermor]

That may be the case but its what it was, not everyone knows about transferwise or currency fair etc.

[gallsman]

UK inflation picking up quickly...

[imtommygunn]

The decline in UK real wages since the pre-crisis peak is the most severe in the OECD, equal only to Greece. Both countries saw declines of 10.4% per cent between 2007 Q4 and 2015Q4.

http://touchstoneblog.org.uk/2016/07/uk-real-wages-decline-10-severe-oecd-equal-greece/ show less

That article has little, or in fact anything, to do with brexit.

[armaghniac]

The decline in UK real wages since the pre-crisis peak is the most severe in the OECD, equal only to Greece. Both countries saw declines of 10.4% per cent between 2007 Q4 and 2015Q4.

http://touchstoneblog.org.uk/2016/07/uk-real-wages-decline-10-severe-oecd-equal-greece/ show less

That article has little, or in fact anything, to do with brexit.

No directly. However, it explains some of the dissatisfaction and some of the theories that immigration was holding wages down. It also illustrates that people have lost living standards through inflation, something that will probably happen again in the next couple of years.

For instance, since 2008 wages in the 26 counties are much the same on average, some sectors and the public sector are down, others are up a bit. But prices too are much the same, so people are not doing so bad. In the UK wages have not grown much, but there has been significant inflation in the UK. Since Sterling was last 90c in 2008 prices in the North are up 10-12% vs feck all in the South so Sterling might well reach parity this time.

[seafoid]

UK inflation picking up quickly...

They import 40% of their food. The UK is seriously densely populated
Food margins are 2%
BOHICA

[seafoid]

The decline in UK real wages since the pre-crisis peak is the most severe in the OECD, equal only to Greece. Both countries saw declines of 10.4% per cent between 2007 Q4 and 2015Q4.

http://touchstoneblog.org.uk/2016/07/uk-real-wages-decline-10-severe-oecd-equal-greece/ show less

That article has little, or in fact anything, to do with brexit.

If people felt the system was working for them they wouldn't vote for chaos

[armaghniac]

They import 40% of their food. The UK is seriously densely populated

The population of England and Wales is seriously dense, not so much Scotland.

[gallsman]

They import 40% of their food. The UK is seriously densely populated

The population of England and Wales is seriously dense, not so much Scotland.

[seafoid]

They import 40% of their food. The UK is seriously densely populated

The population of England and Wales is seriously dense, not so much Scotland.

It's really South East England and a circle including the midlands and a space from Liverpool to Leeds.
https://www.youtube.com/watch?v=IzIUo32nrpo

They need a lot of productive economic activity to keep everyone happy.

If you go back to 1500 Ireland and England had similar populations. It is not clear that England took the right road. 

[screenexile]

Prices will soon increase in the UK...

https://www.buzzfeed.com/jamesball/heres-why-poor-families-are-about-to-feel-even-poorer?utm_term=.tqB1WQpmk#.hoPbkx6wW

[seafoid]

Real wages are down 10% since 08. Osborne wanted to reduce the deficit to zero but could not cos of wages. So the UK has a big deficit. Funded by foreigners . Beggars cannot be choosers. Brexit would be OK if no deficit. But it is not with a deficit.

[seafoid]

Say you are an individual with a spending habit. And an ok job. But no.pay rises since 08. And spending more than income. And the credit union lends you money but you use it for day to day spending  . And now you want to jack in your job and set up an import export business. But you are not sure about taxes. And you tell the credit union to f**k off. Then next day you ask them for money.
That is what Brexit is like.