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economic situation is dire


ianrobo1
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On 29/11/2017 at 12:43, tinker said:

Jaguar castle Bromwich's future looks bleak, lost production weeks on all models and no new products in the pipeline 

I had wondered how long JLR would keep 3 UK plants open now that there are production  sites in China, Brazil, Austria, India and Slovakia.

Castle Bromwich is very much the oldest and lowest capacity of the 3 UK plants.

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JLR have more than three plants , they have 4 production  plants ,  forgot Wolverhampton  engine plant, plus they have Gaydon, Whitley and fen end,  and few hunded at Warwick  uni , 50,000 employees, on average salaries of £40,000, that's £2,000,000,000 a year into the economy and you can add the suppliers at less wages but maybe 3x the amount so 150000 on £30000 = £4,500,000,000.

what this government has done with the diesel tax and their miss management  of brexit is outrageous, their incompetence  is plain to see , but worryingly the press ignore it.

wtf is going on? 

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Financial markets could be over-heating, warns central bank body

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Investors are ignoring warning signs that financial markets could be overheating and consumer debts are rising to unsustainable levels, the global body for central banks has warned in its quarterly financial health check.

The Bank for International Settlements (BIS) said the situation in the global economy was similar to the pre-2008 crash era when investors, seeking high returns, borrowed heavily to invest in risky assets, despite moves by central banks to tighten access to credit.

The BIS, known as the central bankers’ bank, said attempts by the US Federal Reserve and the Bank of England to choke off risky behaviour by raising interest rates had failed so far and unstable financial bubbles were continuing to grow.

Claudio Borio, the head of the BIS, said central banks might need to reconsider changing the way they communicated base interest rate rises or the speed at which they were increasing rates to jolt investors into recognising the need to calm asset markets.

“The vulnerabilities that have built around the globe during the long period of unusually low interest rates have not gone away. High debt levels, in both domestic and foreign currency, are still there. And so are frothy valuations.

“What’s more, the longer the risk-taking continues, the higher the underlying balance sheet exposures may become. Short-run calm comes at the expense of possible long-run turbulence,” he said.

The warning came as Neil Woodford, one of the UK’s most high-profile fund managers, said stock markets were in danger of crashing, resulting in huge losses for millions of people.

The founder of Woodford Investment Management, which manages £15bn worth of assets, told the Financial Times that investors were at risk of the market experiencing a repeat of the dotcom crash of the early 2000s.

Woodford said he was concerned that historically low levels of interest rates in most developed nations over the last decade were pushing asset prices to unsustainable levels.“Ten years on from the global financial crisis, we are witnessing the product of the biggest monetary policy experiment in history,” he said.
 

“Investors have forgotten about risk and this is playing out in inflated asset prices and inflated valuations.

“There are so many lights flashing red that I am losing count.”

...more on link

 

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56 minutes ago, snowychap said:

Inflated asset markets and the risk of unsustainable consumer debt?

What could be done to head this off?

How about taking away vast amounts of money from poorer and middle income people in the world's biggest economy, cutting their spending power and pushing them further into debt, at the same time reducing demand in the real economy, and giving the money to the richest to fuel asset speculation?

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As covered in a thread elsewhere, American Giant Toys R Us set to close 26 of it's 106 UK stores.

Toy's R Us

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It currently employs around 3,200 people in the UK and the closure of the stores could put 800 jobs at risk.

All of the shops are expected to remain open throughout the Christmas period and into 2018 and it is thought that the plans shouldn’t affect gift cards or returns.

The toy chain said the closures would start in Spring next year and that there would be “no disruption for customers” over Christmas and New Year.

The firm plans to use a Company Voluntary Arrangement (CVA), which will allow the retailer to pay off its debts over a fixed amount of time.

There's millions of Geoffrey all under one roof..

It's called Job Centre plus...    Job centre plus, Job centre plus!

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The British state pension is now worst in the developed world as it has fallen below Mexico and Chile, data shows.

An average worker entering the UK workforce today can expect to receive less than a third (29 per cent) of their final working salary as a basic pension income after tax, according to a report published every two years by the Organisation for Economic Co-operation and Development.

This is a reduction of around 40 per cent of what their equivalents who entered the labour market back in 2002 could have expected to receive as a percentage (47.6 per cent) of their final salary. Since the study began the UK has consistently ranked low on the list, ranking below Chile and Mexico last year, however it has never come last before. 

The reason for the UK falling to the bottom of the league table is down to the earnings-related element of the state pension being removed along with the introduction of the new flat-rate pension, the OECD said.

 

Telegraph

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On 11/24/2017 at 07:14, Seat68 said:

I guess I am bucking the trend. I got a pay rise this week. A healthy one. 

There were five of us in my office with similar jobs, all long term employees, all fairly key to the health of the business. In the last two months two have left...

Probably pure coincidence :rolleyes: but confirmed, first bonuses are being paid in 7 years.

Getting a mid month prezzie dropped in to my account this week, then again mid January, then again mid February. 

Upward pay review in January, pending my signing the new contract they've handed me, new contract requires 3 months notice of termination from either side...

 

This has lifted my mood.

 

 

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