Showing posts with label Frances O'Grady. Show all posts
Showing posts with label Frances O'Grady. Show all posts

Monday, 8 September 2014

This is what you want, this is what you get.

TUC General Secretary Frances O'Grady echoes Max Keiser's tirades only without wit or insight, from the BBC:

Ms O'Grady's speech to TUC delegates in Liverpool expanded on the annual conference's main theme of living standards.

She said: "Are we going to settle for a nastier and poorer Britain - a Downton Abbey-style society, in which the living standards of the vast majority are sacrificed to protect the high living of the well-to-do?

"We are piling yet more riches onto a privileged few. Economic growth is back but there's no sign of it in most workers' pay packets. In fact, the gap has got worse. Top chief executives now earn 175 times the wages of the average worker.

"Silver spoons are ever more firmly clamped in the mouths of those who were born with them. And under this government, class prejudice is becoming respectable once again."


She's missed the point about class prejudice, that was always there and cuts both ways.

Even worse, she's really missed the point with the whole 'silver spoon' thing.

As Max Keiser has pointed out, the real distinction is between the rentier class and the wealth creating class and the problem is that everybody aspires to be a rentier and looks down on wealth creators.

So people who bought their council house in London for a song, have since sold it at a massive profit and retired to Spain on the proceeds belong to the rentier class; the occasional entrepreneur like James Dyson, even if he is a bit posh, belongs to the wealth creating class.

Hugely overpaid corporate executives from whatever social background are rentiers; NHS surgeons from middle- or upper-class backgrounds count as wealth creators etc etc.

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?