Macroeconomics, the economy, inflation etc. *likely to be very dull*
Comments
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They're not really comparable due to the differences in things like medical costs.rick_chasey said:0 -
Seems an odd phrasing. Are most tourists eating out in NY who come from London on the minimum wage? Or even the UK average wage?0
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I also think they mean Manhattan when they say NYkingstongraham said:Seems an odd phrasing. Are most tourists eating out in NY who come from London on the minimum wage? Or even the UK average wage?
And I am not sure the $43k average is in the correct place on the graph0 -
Looks about right to me, a third of the way up.surrey_commuter said:
And I am not sure the $43k average is in the correct place on the graph0 -
What level of involvement would you like the Govt to have in the pricing policy of private companies?focuszing723 said:Catherine Mann, one of the nine members of Threadneedle Street’s monetary policy committee, said she was concerned about the ability of firms to take advantage of consumer willingness to tolerate higher prices.https://www.financialaccountant.co.uk/news/bank-of-england-policymaker-warns-of-greedflation-risk-to-consumers#:~:text=risk to consumers-,Bank of England policymaker warns of 'greedflation' ris
In an interview with Bloomberg, Mann said the pricing power of companies meant bringing down the UK’s annual inflation rate to its 2% target would require interest rates to rise further from their current 4% level.
The Bank of England has been closely monitoring pay levels for signs of a developing wage-price spiral but Mann’s comments reflect growing anxiety about the risk posed by corporate greedflation – where businesses more than pass on higher costs to customers – although she did not use that specific term. The European Central Bank expressed similar concerns last week.
This has been quite obvious to a fair few people for a while. What are/can Governments trying to do about it though?0 -
Hang on, it sounded good in my head, give me a bit of time to think about it.surrey_commuter said:
What level of involvement would you like the Govt to have in the pricing policy of private companies?focuszing723 said:Catherine Mann, one of the nine members of Threadneedle Street’s monetary policy committee, said she was concerned about the ability of firms to take advantage of consumer willingness to tolerate higher prices.https://www.financialaccountant.co.uk/news/bank-of-england-policymaker-warns-of-greedflation-risk-to-consumers#:~:text=risk to consumers-,Bank of England policymaker warns of 'greedflation' ris
In an interview with Bloomberg, Mann said the pricing power of companies meant bringing down the UK’s annual inflation rate to its 2% target would require interest rates to rise further from their current 4% level.
The Bank of England has been closely monitoring pay levels for signs of a developing wage-price spiral but Mann’s comments reflect growing anxiety about the risk posed by corporate greedflation – where businesses more than pass on higher costs to customers – although she did not use that specific term. The European Central Bank expressed similar concerns last week.
This has been quite obvious to a fair few people for a while. What are/can Governments trying to do about it though?
Inflation around 10% again.0 -
I should be ready around thread page 45.0
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I literally said this earlier in the thread and got shot down.focuszing723 said:Catherine Mann, one of the nine members of Threadneedle Street’s monetary policy committee, said she was concerned about the ability of firms to take advantage of consumer willingness to tolerate higher prices.https://www.financialaccountant.co.uk/news/bank-of-england-policymaker-warns-of-greedflation-risk-to-consumers#:~:text=risk to consumers-,Bank of England policymaker warns of 'greedflation' ris
In an interview with Bloomberg, Mann said the pricing power of companies meant bringing down the UK’s annual inflation rate to its 2% target would require interest rates to rise further from their current 4% level.
The Bank of England has been closely monitoring pay levels for signs of a developing wage-price spiral but Mann’s comments reflect growing anxiety about the risk posed by corporate greedflation – where businesses more than pass on higher costs to customers – although she did not use that specific term. The European Central Bank expressed similar concerns last week.
This has been quite obvious to a fair few people for a while. What are/can Governments trying to do about it though?0 -
I said it before you ages ago. Like months.rick_chasey said:
I literally said this earlier in the thread and got shot down.focuszing723 said:Catherine Mann, one of the nine members of Threadneedle Street’s monetary policy committee, said she was concerned about the ability of firms to take advantage of consumer willingness to tolerate higher prices.https://www.financialaccountant.co.uk/news/bank-of-england-policymaker-warns-of-greedflation-risk-to-consumers#:~:text=risk to consumers-,Bank of England policymaker warns of 'greedflation' ris
In an interview with Bloomberg, Mann said the pricing power of companies meant bringing down the UK’s annual inflation rate to its 2% target would require interest rates to rise further from their current 4% level.
The Bank of England has been closely monitoring pay levels for signs of a developing wage-price spiral but Mann’s comments reflect growing anxiety about the risk posed by corporate greedflation – where businesses more than pass on higher costs to customers – although she did not use that specific term. The European Central Bank expressed similar concerns last week.
This has been quite obvious to a fair few people for a while. What are/can Governments trying to do about it though?0 -
focuszing723 said:
Inflation/p1ss taking.
Clothes are still excellent value as well as electronics, cheap as chips and I'm sure there are many other shnazzle too. Reason, massive supply compared to demand, so they have to be competitive.
Which leads me on to some companies just taking the p1ss because they can get away with it. I know that's just capitalism and you have to take the rough with the smooth, but, after Covid (we're all in this together) and the impact of Russia/Ukraine , United Governments should put pressure on the amount of p1ss being taken! Stop the spiral of companies "knock-on" inflationary p1ss.0 -
October!0
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No, you argued the opposite with me!focuszing723 said:
I said it before you ages ago. Like months.rick_chasey said:
I literally said this earlier in the thread and got shot down.focuszing723 said:Catherine Mann, one of the nine members of Threadneedle Street’s monetary policy committee, said she was concerned about the ability of firms to take advantage of consumer willingness to tolerate higher prices.https://www.financialaccountant.co.uk/news/bank-of-england-policymaker-warns-of-greedflation-risk-to-consumers#:~:text=risk to consumers-,Bank of England policymaker warns of 'greedflation' ris
In an interview with Bloomberg, Mann said the pricing power of companies meant bringing down the UK’s annual inflation rate to its 2% target would require interest rates to rise further from their current 4% level.
The Bank of England has been closely monitoring pay levels for signs of a developing wage-price spiral but Mann’s comments reflect growing anxiety about the risk posed by corporate greedflation – where businesses more than pass on higher costs to customers – although she did not use that specific term. The European Central Bank expressed similar concerns last week.
This has been quite obvious to a fair few people for a while. What are/can Governments trying to do about it though?
I pretty much was on my own on that one. Everyone was banging on about spiralling wages and I kept saying, as indeed is the case now, it is corporate profits driving inflation, not wages/0 -
No, I said wages are still contributory.rick_chasey said:
No, you argued the opposite with me!focuszing723 said:
I said it before you ages ago. Like months.rick_chasey said:
I literally said this earlier in the thread and got shot down.focuszing723 said:Catherine Mann, one of the nine members of Threadneedle Street’s monetary policy committee, said she was concerned about the ability of firms to take advantage of consumer willingness to tolerate higher prices.https://www.financialaccountant.co.uk/news/bank-of-england-policymaker-warns-of-greedflation-risk-to-consumers#:~:text=risk to consumers-,Bank of England policymaker warns of 'greedflation' ris
In an interview with Bloomberg, Mann said the pricing power of companies meant bringing down the UK’s annual inflation rate to its 2% target would require interest rates to rise further from their current 4% level.
The Bank of England has been closely monitoring pay levels for signs of a developing wage-price spiral but Mann’s comments reflect growing anxiety about the risk posed by corporate greedflation – where businesses more than pass on higher costs to customers – although she did not use that specific term. The European Central Bank expressed similar concerns last week.
This has been quite obvious to a fair few people for a while. What are/can Governments trying to do about it though?
I pretty much was on my own on that one. Everyone was banging on about spiralling wages and I kept saying, as indeed is the case now, it is corporate profits driving inflation, not wages/0 -
I think you are all a bunch of suppressed communists who need to get their heads around how a market economy works. If you don't like the price being charged then don't buy it.
The alternative is some tvvat like Boris Rees-Mogg deciding how much Heinz can charge for a can of beans2 -
FWIW, I have done. I’m not buying goods that have more than doubled in price in some cases.surrey_commuter said:I think you are all a bunch of suppressed communists who need to get their heads around how a market economy works. If you don't like the price being charged then don't buy it.
The alternative is some tvvat like Boris Rees-Mogg deciding how much Heinz can charge for a can of beans
Doesn’t mean we can’t comment on it.0 -
Despite what is reported, inflation has come down quite a bit. Since Oct, annualised inflation is 4.16%.0
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I did not say you could not comment on it.morstar said:
FWIW, I have done. I’m not buying goods that have more than doubled in price in some cases.surrey_commuter said:I think you are all a bunch of suppressed communists who need to get their heads around how a market economy works. If you don't like the price being charged then don't buy it.
The alternative is some tvvat like Boris Rees-Mogg deciding how much Heinz can charge for a can of beans
Doesn’t mean we can’t comment on it.
Frankly I am shocked that people think the Govt should step in and fix prices0 -
Does that mean that come Oct 2024 the headline rate of inflation will be 4%?TheBigBean said:Despite what is reported, inflation has come down quite a bit. Since Oct, annualised inflation is 4.16%.
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Depends on the next 8 months, but if they are the same as the average of the previous 4 months, then yes.surrey_commuter said:
Does that mean that come Oct 2024 the headline rate of inflation will be 4%?TheBigBean said:Despite what is reported, inflation has come down quite a bit. Since Oct, annualised inflation is 4.16%.
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Where the inflation is matters on how you combat it.surrey_commuter said:I think you are all a bunch of suppressed communists who need to get their heads around how a market economy works. If you don't like the price being charged then don't buy it.
The alternative is some tvvat like Boris Rees-Mogg deciding how much Heinz can charge for a can of beans
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Oct 2023 surely.surrey_commuter said:
Does that mean that come Oct 2024 the headline rate of inflation will be 4%?TheBigBean said:Despite what is reported, inflation has come down quite a bit. Since Oct, annualised inflation is 4.16%.
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you are of course correctkingstongraham said:
Oct 2023 surely.surrey_commuter said:
Does that mean that come Oct 2024 the headline rate of inflation will be 4%?TheBigBean said:Despite what is reported, inflation has come down quite a bit. Since Oct, annualised inflation is 4.16%.
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well expand on how you which comapnies/sectors you would like Govt to set prices and what mechanisms they should use to establish the correct price and how they would go about it.rick_chasey said:
Where the inflation is matters on how you combat it.surrey_commuter said:I think you are all a bunch of suppressed communists who need to get their heads around how a market economy works. If you don't like the price being charged then don't buy it.
The alternative is some tvvat like Boris Rees-Mogg deciding how much Heinz can charge for a can of beans0 -
If the '70s inflation was defined by a wage spiral, this '20s inflation is define by fat corporate profits.surrey_commuter said:
well expand on how you which comapnies/sectors you would like Govt to set prices and what mechanisms they should use to establish the correct price and how they would go about it.rick_chasey said:
Where the inflation is matters on how you combat it.surrey_commuter said:I think you are all a bunch of suppressed communists who need to get their heads around how a market economy works. If you don't like the price being charged then don't buy it.
The alternative is some tvvat like Boris Rees-Mogg deciding how much Heinz can charge for a can of beans
Does this not suggest to you that when it comes to the management/labour balance of power, that the pendulum has swung too far the other way from labour to the management??
That could, in part, be one of the components of the missing wage growth.
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Have just been reading on a Torsten Bell thread that wage growth has levelled off since November.1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
Since no-one is responding to this, I think there is sensible room for a incoming labour government to add some sensible legislation that gives some additional powers to labour over management.rick_chasey said:
If the '70s inflation was defined by a wage spiral, this '20s inflation is define by fat corporate profits.surrey_commuter said:
well expand on how you which comapnies/sectors you would like Govt to set prices and what mechanisms they should use to establish the correct price and how they would go about it.rick_chasey said:
Where the inflation is matters on how you combat it.surrey_commuter said:I think you are all a bunch of suppressed communists who need to get their heads around how a market economy works. If you don't like the price being charged then don't buy it.
The alternative is some tvvat like Boris Rees-Mogg deciding how much Heinz can charge for a can of beans
Does this not suggest to you that when it comes to the management/labour balance of power, that the pendulum has swung too far the other way from labour to the management??
That could, in part, be one of the components of the missing wage growth.
Clearly we do not want to swing back the '70s and '80s, but I think we need to recognise that this is probably part of the productivity puzzle.0 -
So are you actually saying you would be in favour of some form of windfall tax or an increase in corporation tax? You were opposed to O&G copanies being taxed more on their unexpected profit increases.0
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Do youhave asource for these fat coprorate profits being delivered by price gouging?rick_chasey said:
Since no-one is responding to this, I think there is sensible room for a incoming labour government to add some sensible legislation that gives some additional powers to labour over management.rick_chasey said:
If the '70s inflation was defined by a wage spiral, this '20s inflation is define by fat corporate profits.surrey_commuter said:
well expand on how you which comapnies/sectors you would like Govt to set prices and what mechanisms they should use to establish the correct price and how they would go about it.rick_chasey said:
Where the inflation is matters on how you combat it.surrey_commuter said:I think you are all a bunch of suppressed communists who need to get their heads around how a market economy works. If you don't like the price being charged then don't buy it.
The alternative is some tvvat like Boris Rees-Mogg deciding how much Heinz can charge for a can of beans
Does this not suggest to you that when it comes to the management/labour balance of power, that the pendulum has swung too far the other way from labour to the management??
That could, in part, be one of the components of the missing wage growth.
Clearly we do not want to swing back the '70s and '80s, but I think we need to recognise that this is probably part of the productivity puzzle.0 -
No I don't think it's a fiscal thing. More I think there needs to be a way to add a bit of bargaining power without encouraging disruption.
I don't necessarily have a solution but the kind of thing could be enforced representation of workers on the board or rules around pay & profit transparency or something along those lines.0 -
you don't think that the massive sortage of talent will solve the problem?rick_chasey said:No I don't think it's a fiscal thing. More I think there needs to be a way to add a bit of bargaining power without encouraging disruption.
I don't necessarily have a solution but the kind of thing could be enforced representation of workers on the board or rules around pay & profit transparency or something along those lines.0
