#costoflivingcrises — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #costoflivingcrises, aggregated by home.social.
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When crises collide:
#NHScrisis (and #LongCovid) contribute the largest proportion of 'economically inactive' #workers....
driving labour shortages in a time of #inflation & #costoflivingcrises,...
while #greedfaltion (yes its a thing), drives both #inflation & decline in real wages...
causing some pressure (as a lagging factor) on wages to rise.
So what is the #BoE going to do; yes raise #interest rates to drive a #recession to compound the economic damage.
It looks like #classwar & is!
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Cycling round the #LuneValley yesterday, I was struck by the relative quietness of the roads during a working Monday... sometimes, it seems like our recent travails have had a major impact on road usage (locally at least).
My guess is #workingfromhome, high #petrol prices (forcing more consolidated car journeys - joining together previously seperate journeys) & the general #costoflivingcrises have reduced the amount of time we spend on the road... which may be no bad thing!
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So while the Guardian compares record #automotive industry profits, to claims the sector 'cannot afford' to comply with new emissions standards, I think the more general issue is how these firms have been able to maintain profits (like #BigOil has) when all around is in crisis....
Call me cynical, but I might be wondering whether the global #costoflivingcrises & its attendant #inflation, have been a useful mask for some profiteering...
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Q. despite the post-Covid labour shortage remaining relatively stable (which is to say a shrunken UK workforce), will the continuing #costoflivingcrises, #banking turmoil & the likelihood end of money saved during the #pandemic, lead to a shift back into work for people who for the last two years have taken themselves out of the labour market?
If so & there is a 'rush' back to work, will there be an associated period of (unwelcome) wage deflation as returnees bid down #wages?
h/t FT/Lex
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I see #centralbankers are wary of a wage rise-#inflation spiral setting in across the world as #workers struggle to maintain standards of living... But, they seldom seem troubled by the #profits rise-#inequality spiral, which has reduced workers share of overall surplus over the last decades, and of course lies behind #strikes to counter the #costoflivingcrises.
Its time for central banks to (re)think how they understand the pressures in the (global) system!
(plot spoiler: they won't!)
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Q. what lies behind the 22% increase in the number of people who are receiving at least one prescription #antidepressant between 2015/16 & 2021/22, rising to over 10% of the UK's population?
The positive interpretation is that we are less willing to hide #mentalhealth issues away & thus treatment is more out in the open;
The negative interpretation is that the UK's increasingly problem-ridden #capitalism is driving a #mentalhealthcrisis via #costoflivingcrises
Of course; it could be both!
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Much like the #energy firms doing well out of record energy prices, it now seems the #banking sector is following:
#Lloyds bank has just announced greatly increased profits - up 80% year on year, for the last quarter - from raised #interestrates;
Its ever clearer a key element of the #costoflivingcrises has been a flow of funds (ultimately) to #corporate #managers & #shareholders.
But, pretty much (of course) what one expects from the UK's #rentiercapitalism!
To those who have, more is given! -
The UK has an #investment problem (we invest too little in our #economic development). The Q. is what can we do about it?
Martin Wolf (FT) says its a #savings problem & UK needs to save more; but has he not noticed the #costoflivingcrises?
Others might point to the balance on the current account & say actually the UK's investors need to reshore (refocus) their #investments in the UK (i.e. too much gores out, not comes in)!
Don't blame those who cannot save, blame the footloose #Bankers!
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Clear Barret who writes about #personalfinance in the FT has just used an acronym that I was unaware of but looks to become more relevant:
CAFTERs... [Can't Afford to Retire].As the #CostOfLivingCrises continue to take their toll on people's ability to save/plan for #retirement, will the CAFTers become a significant political force I wonder?
Will a CAFTers political group form to represent their interests?
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Whatever #tory politicians are saying about international causes of the #CostOfLivingCrises, the UK's stagnation & other problems in the #economy, strangely a range of comparable countries are not so effected... yes (you knew I was going to say this): the independent variable is the #Tory Govt. (and #Brexit of course)...
Many followers, I know, will say a lack of growth is a good thing for #environmental reasons, but it needs to planned for not fallen into if we are to protect the vulnerable!
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Lets be clear:
A #recession 'avoided' is not a crisis averted... its a lucky statistical anomaly for the #Tories in a sea of #CostOfLivingCrises, #economic decline & around social crisis....
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Here's a Q.:
have the #pandemic & #CostOfLivingCrises accelerated a shift in #workers attitude(s) to work?On the one hand, given employers (continuing) view of staff as a cost to be controlled/reduced, more workers are seeing the purely contractual character of much work & withdrawing goodwill & keeping an eye out for alternatives.
On the other, young people (at least the ones I know) seem much more interested in 'meaningful' work that high wages & 'crap jobs'
Is a social shift underway?
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“Oh hey come and work for one of the most highly commercialised productions on the planet and get paid NOTHING! If you have previously volunteered for the Olympics, City of Culture, planning for the coronation we want to hear from you!” #CostOfLivingCrises #eurovision #liverpool
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Despite looming #recession & the #CostOfLivingCrises, many #luxury brands continue to report record profits & healthy business forecasts.... what we are seeing is the continuing disconnect between the 1% (the global wealthy elite) and the rest of us... this is not so much conspicuous consumption as callous disregard in lifestyle(s).
Some think this is a new 'Gilded Age' (as in the Great Gatsby), rather I think this is something older; a wealthy elite draining money & wealth off the rest of us!
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The long experiment to reduce #education costs by transferring tasks to #TeachingAssistants is clearly coming apart as more & more TAs in the #CostOfLivingCrises give up jobs they love, as they can be paid more at a #supermarket, leaving special needs pupils marooned, the remaining #teachers more over stretched & schools facing a #workforce challenge they do not have the budgets to solve.
Yet another case of treating staff as a cost that needs to be reduced, not a resource to be invested in!
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As the country struggles with the cost of living crisis, recent figures have revealed that Brexit has left the people of the UK paying an extra £6 billion in food costs.
#BrexitRecession
#CostOfLivingCrises
https://www.falmouthpacket.co.uk/news/23179924.skipper-expect-brexit -
Stretford and Urmston by-election candidates' 'minute manifestos'
Watch @RejoinP - great video by Jim Newell
#BrexitRecession
#CostOfLivingCrises
#Pollution
#ByElectionStretfordandUrmston
https://www.bbc.co.uk/news/uk-england-manchester-63904352.amp -
The ripples of the #CostOfLivingCrises are starkly revealed in this report from The Observer on how the activities of #countylines drug dealers are made much easier by the effects of the crisis (parents unable to pick up kids from school, children cold & hungry)... slowly but surely #austerity & over a decade of #ToryIncompetence have engineered significant problems for the vulnerable in society... whatever #KwasiKwarteng may think politics is not a game!
https://www.theguardian.com/uk-news/2022/dec/10/county-lines-gangs-cost-of-living-crisis -
🙄🙄🙄Dear @[email protected] you say it isn’t the government’s job to provide ‘free food’.
May I point out that it isn’t the job of taxpayers like me to subsidise your dinners.Nor your #Christmas parties.
#CostOfLivingCrises #greedy #ToryCostOfGreedCrisis #ToryMPs #Food #nurses
