Wage inflation

[AtW]

The proportion of income that Premier League clubs spend on wages hit a record 68% in 2009-10, a report into football finances by Deloitte says.

While Manchester United spent 46% of its revenue on pay, rivals Manchester City splashed out a massive 107%.

Chelsea again topped the wages bill, as they have done every season since 2002-03, at £174m.

"This new high is worrying, something Uefa's financial fair play rules should address," said Deloitte's Dan Jones.

It comes as the Deloitte report shows Premier League revenues increased by 2% to exceed £2bn for the first time in the 2009-10 season.

Source: BBC News - Premier League wages keep on rising, Deloitte says

Meanwhile BoE kept rates at the same level again, nevermind pending 20% increase in gas/electric even before winter starts

[gingerjedi]

Meanwhile BoE kept rates at the same level again, nevermind pending 20% increase in gas/electric even before winter starts

You lost me there, how would raising interest rates help?

I firmly believe there are millions of households living on the brink and a rate rise would be catastrophic, the problem is I can't see any way out either? It's not as if petrol will be 70p a litre in the next few weeks time.

[AtW]

You lost me there, how would raising interest rates help?

Most players in EPL are foreign and they compare their salaries with those earned in euros on the Continent. This means that as sterling gets weaker they want more of it to compensate them for loss of opportunity elsewhere.

I firmly believe there are millions of households living on the brink and a rate rise would be catastrophic, the problem is I can't see any way out either? It's not as if petrol will be 70p a litre in the next few weeks time.

B0llox. Rates are now 0.5%, and they were at 5% just recently - you would have had a case if the question was whether to raise it much higher than that, but surely people who took on mortgages when rates were 5-6% expected to repay them at that level? ECB is raising rates and they've got balls to do it despite problems with Greece since they know that stronger currency will help them ride it out.

Fuel specifically is going up because of sterling's weakness, just like other imports like food.

[TimberWolf]

Most players in EPL are foreign and they compare their salaries with those earned in euros on the Continent. This means that as sterling gets weaker they want more of it to compensate them for loss of opportunity elsewhere.



B0llox. Rates are now 0.5%, and they were at 5% just recently - you would have had a case if the question was whether to raise it much higher than that, but surely people who took on mortgages when rates were 5-6% expected to repay them at that level? ECB is raising rates and they've got balls to do it despite problems with Greece since they know that stronger currency will help them ride it out.

Fuel specifically is going up because of sterling's weakness, just like other imports like food.

I notice Poland increased its interest rates yesterday too. With a bit of luck Polish people, nice as they are, will start heading back home which will also help our housing market. Unless Turkey and whoever next joins the EU...

[fullyautomatix]

You lost me there, how would raising interest rates help?

I firmly believe there are millions of households living on the brink and a rate rise would be catastrophic, the problem is I can't see any way out either? It's not as if petrol will be 70p a litre in the next few weeks time.

Millions who are on the "brink" chose to do so themselves, overdosing on credit and trying to keep up with the Joneses. Nobody advised them to snort credit cocaine up their noses and be on the "brink".

The interest rates should be jacked up to 4% and stuff the millions who are up the eyeballs in debt.

[SueEllen]

I notice Poland increased its interest rates yesterday too. With a bit of luck Polish people, nice as they are, will start heading back home which will also help our housing market. Unless Turkey and whoever next joins the EU...

Polish people are now allowed to work in Germany.

The UK was one of the countries foolish enough not to set limits on Polish immigration when Poland joined the EU.

The government having learnt from that set restrictions to countries that joined after Poland , so if Turkey join we won't get a flood of Turkish immigrants. This will be helped if the countries they have to pass through to get to the UK by road also have such restrictions in force.

UK interest rates will rise when unemployment is comfortably down.

[fullyautomatix]

Polish people are now allowed to work in Germany.

The UK was one of the countries foolish enough not to set limits on Polish immigration when Poland joined the EU.

The government having learnt from that set restrictions to countries that joined after Poland , so if Turkey join we won't get a flood of Turkish immigrants. This will be helped if the countries they have to pass through to get to the UK by road also have such restrictions in force.

UK interest rates will rise when unemployment is comfortably down.

Not the UK, the Labour party deliberately chose to not impose any limit on cheap immigration from EU. All the immigration depressed the wages and made the employers very happy which was the intention in the first place. Also, all those coming in would need a house to live in and hence the rental market shot up and this meant plenty of people buying up houses to let out and this resulted in house prices increasing on a major scale.

It was all Labour's cleverly plotted decisions.

[gingerjedi]

Millions who are on the "brink" chose to do so themselves, overdosing on credit and trying to keep up with the Joneses. Nobody advised them to snort credit cocaine up their noses and be on the "brink".

The interest rates should be jacked up to 4% and stuff the millions who are up the eyeballs in debt.

I'm not talking about people with 9 credit cards and an M3 on the drive. I am talking average people on average wages with average houses. Nobody advised them that fuel, food, electric and gas was going through the roof either.

[Jog On]

Is anyone watching the EURO this afternoon?

[AtW]

I am talking average people on average wages with average houses.

They would have borrowed money when rates were 5-6%.

Now rates are 0.5% and they had unexpected few good years with lots more cash they were not meant to have.

Now it's time for rates to go up to 5-6% so that they can keep repaying debt at the rates that were common at the time.

What's the problem? It's not like inflation is under control.