The UK Economy - Why Twin Peaks?

The Bank of England economist, Andy Haldane, has recently made a speech in which he described the UK economy as having twin peaks of ecstacy and agony. Specifically the ecstacy was due to GDP growth and the agony due to static or declining wages.

The GDP growth of the UK economy (yr to quarter 2) is shown in the chart below:

This GDP growth has been achieved despite falling wages for all earners. Furthermore the top 10% have had the largest falls:

Source: http://www.ons.gov.uk/ons/rel/lmac/uk-wages-over-the-past-four-decades/2014/rep---uk-wages-over-the-past-four-decades.html

Overall the GDP per head figures have been fairly constant since 2010:

The reason that GDP has increased year on year but GDP per head is constant is that the population and working population has been growing, especially the working population as a result of immigration and increasing numbers of pensioners and women in the workforce. The workforce expanded by 2.7% in the year to June 2014. Immigration probably accounted for 30% of this growth. The increased employment was largely in trades and less skilled work and reflects people becoming very poor. Don't rejoice at the growth of GDP. It is only GDP per head that matters to you and me.

The "twin peaks" talk shows that you can fool all of the journalists all of the time. Or is Postmarxism (AKA Political Correctness) so pervasive that the journalists dare not mention that immigration is causing overpopulation without growth in the individual prosperity of British people? This is what immigration does, immigrants just become other people in Britain they do not significantly enrich the people who are already here. Epic immigration of 500-600,000 people a year just overpopulates your country.

Postscript: part of the recent GDP "growth" is due to a recalculation of GDP imposed on the UK by Eurostat and is not a real growth at all.

Comments

Do Muslim women want to wear the Burka (Burqua)?

Do all islamic women want to wear burka? Can a woman's freedom to wear what she wants oppress other women? Are western feminists aiding a cult that is dedicated to the destruction of feminism? I hope to answer these questions in this article. I would much appreciate any comments you might have if you disagree with the article, especially if you have a feminist viewpoint. Here is a description of the problems of wearing burka by a woman of Asian origin: "Of course, many veiled Muslim women argue that, far from being forced to wear burkas by ruthless husbands, they do so out of choice. And I have to take them at their word. But it is also very apparent that many women are forced behind the veil. A number of them have turned up at my door seeking refuge from their fathers, mothers, brothers and in-laws - men brain-washed by religious leaders who use physical and mental abuse to compel the girls to cover up. It started with the headscarf, then went to th...

The Falklands have always been Argentine - Las Malvinas son Argentinas

"The Falklands have always been Argentine" is taught to every Argentine child as a matter of faith. What was Argentina during the time when it "always" possessed Las Malvinas? In this article I will trace the history of Argentina in the context of its physical and political relationship with "Las Malvinas", the Falkland Islands. The Argentine claim to the Falkland Islands dates from a brief episode in 1831-32 so it is like Canada claiming the USA despite two centuries of separate development. This might sound like ancient history but Argentina has gone to war for this ancient claim so the following article is well worth reading. For a summary of the legal case see: Las Malvinas: The Legal Case Argentina traces its origins to Spanish South America when it was part of the Viceroyalty of the Rio del Plata. The Falklands lay off the Viceroyalty of Peru, controlled by the Captain General of Chile. In 1810 the Falklands were far from the geographical b...

The Roots of New Labour

This article was written in 2009 but is still useful to understand the motivation behind New Labour - from the global financial crisis through the over-regulated, surveillance society to the break up of the UK into nationalities. The past lives of Labour Ministers have long been sanitised and many biographies that include their shady communist and Marxist pasts are inaccessible or removed from the net. The truth about these guys is similar to discovering that leading Tories were members of the Nazi Party. If you are a British voter and do not think that this is important then I despair for British politics. Had these people taken jobs in industry their past might be forgotten and forgiven but they continued in left wing politics and even today boast of being "Stalinist" or International Socialist (or in Blair's case, Trotskyist ). Peter Mandelson (first Secretary of State and Labour Supremo): "Mr Mandelson was born into a Labour family - his grandfather wa...

Political Thoughts - the magazine

Search This Blog