Sunday Independent Stupid Statement of the Week November 3, 2013Posted by Garibaldy in Sunday Independent Stupid Statement of the Week.
Carol Hunt has an interesting piece about how the recession has affected some people a great deal more than others. Or at least it would be, if it weren’t for this.
Who are these people? Well, we know – depending on which analysis is used – public sector workers earn on average between 20 and 50 per cent more than their private counterparts, but our recession-proof people are not solely made up of those who work for the State; though the ones with secure jobs, guaranteed pensions and annual increments do tend to feature most prominently.
There’s also the Google generation – the young ones who have good jobs and a lot of disposable income to throw about. They have few, if any, debts. They have no dependants or loans or financial obligations. Ditto those older people who have their mortgage paid off and now own their property, particularly those wily public sector workers who had the cop to take early retirement and can now cocoon themselves with a pension their replacements can sing for.
She then goes on to explain to her public sector friends how austerity is affecting people like her, chastising them for not knowing how the recession is affecting people. One wonders if it has ever dawned on her that public sector workers might just be suffering cuts in living standards. I suspect not.
First prize to Marc Coleman.
But we need to go further. If fundamentals point to the potential for price rises, whether that process will be smooth and well-managed or a stop-start joyride depends not on fundamentals but on a very different set of influencers: market fundamentals – income and demand – determine where prices should settle.
And a prize to anyone who can make sense of that nonsense.