Tuesday, 17 September 2013

Trade union leader talks sense: shock

From an article in today's Evening Standard celebrating the house price bubble in London and the South East:

TUC general secretary Frances O’Grady said: “Today’s figures show that the UK’s so-called recovery is based on house price rises rather than growing pay packets, with the cost of properties rising three times faster than wages.

She added: “This may be enough for wealthy homeowners in London but it’s no way to secure a sustainable recovery. With every measure of inflation showing a rise of at least 2.5 per cent, the longest wage squeeze in over a century shows no sign of abating.”

Perhaps she's beginning to see the LMBH?


Ian Hills said...

No doubt lenders have been doing well. I wonder if any of them are pally with Osborne and the BoE court of directors?

Mark Wadsworth said...

IH, no need to wonder. Nowadays the landowners, bankers, politicians and quangocrats are basically the same people.

Bayard said...

Nowadays? Apart from the quangocrats, who are a new mutation, they always have been.

Mark Wadsworth said...

B, nope. Was Clement Attllee a closet landowner and banker? As awful and Home-Owner-Ist Thatcher was in many respects, she wasn't a large landowner or banker either.

This reversion to the ancient model where one small caste runs the whole thing for their own benefit only happened relatively recently, i.e. with Tony Blair (or indeed Stalin).

Graeme said...

you might have to go back to Lord Salisbury - pre-1905 - to get such a clear alignment of land-owners with government. As far as I know, Campbell-Bannerman, Asquith, Lloyd George, Bonar Law, Baldwin, MacDonald, Neville Chamberlain, Churchill, Attlee, Eden would not have benefited from wind-power and land ownership to the extent that Cameron and co do. Of course, Churchill's cousin, the Duke of Marlborough might have done, but I don't think WLSC cut him many favours. Also, Eden was famous for doing himself out of a fortune on reaching high office by severing his relations with a family trust that would have come up trumps.

Derek said...

Maybe she has seen the LMBH. Or maybe Carol Wilcox and co are managing to get the message across on the more left-wing websites.

Robin Smith said...


"Nowadays the landowners, bankers, politicians and quangocrats are basically the same people"

You forgot to mention

"and everyone else"

including yourself. And me. We're all at it, and the sooner we affirm this, the sooner we can stop ranting and get on with a nice life.

Not being rude. Pointing out observed fact. Deny reality if you like. I don't care.

Checkout MeltFund for help on this affirmation.