Friday, December 14, 2018

Torches and pitchforks time

Appalling news from the UK today, with a report from the TUC showing that the average worker is earning a third less in real terms than they did in 2008:

Research by the Trades Union Congress (TUC) found that the average worker has lost £11,800 in real earnings since 2008.

The UK has suffered the worst real wage slump among leading economies, said the union organisation.

The biggest losses have been in areas including the London borough of Redbridge, Epsom and Waverley in Surrey, Selby in North Yorkshire and Anglesey in north Wales, the studyfound.

Workers have suffered real wage losses ranging from just under £5,000 in the north-east to more than £20,000 in London, said the report.

(In most other rich countries, wages rose. NZ isn't on that, but playing around with NZ.Stat and the Reserve Bank's inflation calculator shows they rose by 17 - 19%, depending on which column you prefer)

And to make the obvious comparison: its worse than Greece, which suffered a decade-long economic crisis exacerbated by EU-imposed austerity. There, wages have only fallen by ~15% (see second-to-last graph). But in Greece, GDP collapsed. In the UK, it has risen (by ~5% per-capita over that period). So where did the money go? Straight into the pockets of the rich, who are doing very well, thankyouverymuch, while impoverishing everybody else.

This is simply naked theft, and UKanians should be marching on parliament with torches and pitchforks demanding their money back. Sadly, they're unlikely to actually stand up for themselves, and so they'll continue being looted by their bloodsucking upper classes.