Economic future for UK not looking great Watch

Fullofsurprises
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The IPPR has a new major report out, which predicts a grim economic future for the UK, of declining incomes for the majority, an increasingly ageing population living in poverty and collapsing manufacturing jobs.
https://www.theguardian.com/business...eport-predicts

The report ties together the different trends caused by Brexit, automation, an ageing population and massive shifts in income towards the well off.

Much of this is completely predictable, as we already seeing a clear trend towards higher and higher wealth and income concentrated in the top 1 and top 10% of the population - home ownership is narrowing, house prices are rising, the numbers renting are rising and rents are increasing, those without homes are increasing and salaries in the lower 60% of the range are stagnant or declining.

This is a global problem too - the increasing robotisation of society is going to cause huge upheavals.

Our government is behaving like the Emperor Nero - fiddling with irrelevancies whilst Rome burns.
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Jammy Duel
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Isn't this the prediction that had been made every year for decades?

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Fullofsurprises
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(Original post by Jammy Duel)
Isn't this the prediction that had been made every year for decades?

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No.
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doggyher
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(Original post by Jammy Duel)
Isn't this the prediction that had been made every year for decades?

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Wrong. But nice try though.
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Drewski
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(Original post by Fullofsurprises)
This is a global problem too
See! Equality: everybody's equally ****ed. What a time to be alive.
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Fullofsurprises
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(Original post by Drewski)
See! Equality: everybody's equally ****ed. What a time to be alive.
Well, everyone being equally a little bit ****ed would still be preferable to most of us being completely ****ed and a small number living high on the hog off the rest of us.
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Tingtox
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Because £13000 a year is not good enough to live off......
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Quady
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(Original post by Fullofsurprises)
The IPPR has a new major report out, which predicts a grim economic future for the UK, of declining incomes for the majority, an increasingly ageing population living in poverty and collapsing manufacturing jobs.
https://www.theguardian.com/business...eport-predicts

The report ties together the different trends caused by Brexit, automation, an ageing population and massive shifts in income towards the well off.

Much of this is completely predictable, as we already seeing a clear trend towards higher and higher wealth and income concentrated in the top 1 and top 10% of the population - home ownership is narrowing, house prices are rising, the numbers renting are rising and rents are increasing, those without homes are increasing and salaries in the lower 60% of the range are stagnant or declining.

This is a global problem too - the increasing robotisation of society is going to cause huge upheavals.

Our government is behaving like the Emperor Nero - fiddling with irrelevancies whilst Rome burns.
So do away with mechinisation? *yawn*

What will our living standards go back to?
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Quady
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(Original post by Tingtox)
Because £13000 a year is not good enough to live off......
Is that how much you're paid?
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999tigger
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(Original post by Quady)
So do away with mechinisation? *yawn*

What will our living standards go back to?
Tbf nobody has suggested that.
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Tingtox
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(Original post by Quady)
Is that how much you're paid?
Yes and I live a great life with it.

Flagship phone, Gaming PC. All I ever wanted really.
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Fullofsurprises
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(Original post by Quady)
So do away with mechinisation? *yawn*

What will our living standards go back to?
I believe the point is that global inequality will continue to spiral unless governments take far more action to redistribute the benefits of massive robotisation. Whereas at the moment, they are doing precious little.

The seeds of revolution, war and famine are being sewn as we speak.
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Recont
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Yeah, agree. Also fed up with people who use housing benefits, get flats and live exactly the same way, working only 16 hours per week as person next to him that works 10+ hours a day. Then what is the point working for low wage then?! Unfair.
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Quady
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(Original post by Fullofsurprises)
I believe the point is that global inequality will continue to spiral unless governments take far more action to redistribute the benefits of massive robotisation. Whereas at the moment, they are doing precious little.

The seeds of revolution, war and famine are being sewn as we speak.
Any ideas how?

For example when accountancy gets automated, what would you do?
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Quady
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(Original post by Recont)
Yeah, agree. Also fed up with people who use housing benefits, get flats and live exactly the same way, working only 16 hours per week as person next to him that works 10+ hours a day. Then what is the point working for low wage then?! Unfair.
There wouldn't be if that were the case.

Are you fed up that you'd be better off on benefits? If so why don't you sign on?
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l'etranger
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(Original post by Fullofsurprises)
I believe the point is that global inequality will continue to spiral unless governments take far more action to redistribute the benefits of massive robotisation. Whereas at the moment, they are doing precious little.

The seeds of revolution, war and famine are being sewn as we speak.
No they're not because in spite of the increases in global wealth inequality the poorest people in Western society have never lived such good lives. Speaking with older people it's so obviously they had to struggle far more than we ever did.
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Recont
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(Original post by Quady)
There wouldn't be if that were the case.

Are you fed up that you'd be better off on benefits? If so why don't you sign on?
I'm not entitled. And yes, I'd be living in better conditions on benefits, a lot better. Now living almost in a shed with whistling trough window frames wind, stinky carpet and ceiling patch that is going to fall down very soon, sharing this room with another person.
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Quady
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(Original post by Recont)
I'm not entitled. And yes, I'd be living in better conditions on benefits, a lot better. Now living almost in a shed with whistling trough window frames wind, stinky carpet and ceiling patch that is going to fall down very soon, sharing this room with another person.
You're not entitled? But you made it sound like a choice
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Recont
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(Original post by Quady)
You're not entitled? But you made it sound like a choice
Not entitled. Don't want to be blamed that I live of someone's welfare. Anyway, people remind me that I am not equal with locals with their attitude or saying directly "u r not even english" but luckily there are really nice people.
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Fullofsurprises
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(Original post by Quady)
Any ideas how?

For example when accountancy gets automated, what would you do?
Obviously I don't have the solution, right now nobody has the whole picture. We should be thinking and figuring hard about it though, especially at the international and government levels, but they aren't - the sole trend at the moment is a boundless faith in casino capitalism and a particularly extreme form of neoliberalist doctrine that benefits only the already rich.

Part of the picture is that we are going to need a lot more international institutions and government (including shared sovereignty) to counterbalance the immense power of global capital and its corporations.

We need global taxes and global redistributive policies.

There are going to have to be incomes for life in the future. Otherwise automation will be self-defeating, as removing incomes on a massive scale will simply destroy the markets that the automation is supposed to serve.

There needs to be creation of jobs other than in just the digital economy. We are leaving behind at least 1/3 of the workforce who aren't able to cope with it.

We need more government, not less. This is against neoliberal doctrine, but neoliberal doctrine is what gave us the 2008 crash and the stagnant global economy since then.

We are going to have to fight for a better society. Just passively assuming that the government is going to sort things out by doing the right things won't work. The current governments we have are the victims of a hijacking by the wealthy elites. At the moment, most people are frozen in fear, waiting to see what happens. Staying that way, playing with games and the other comforting and useless distractions tossed to us by the authorities won't do it. We are going to need to mobilise to demand a better share of the world's resources.

On current trends, we will be back in a sort of medieval Aristocrats-and-Peasants society in the near future without massive change.
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