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Originally Posted by Chris
Unemployment is rising because the Coalition is quite rightly killing off many of the public sector non-jobs Gordon Brown and Nu-Liebour invented when it looked like the country had money to burn.
However, the rate at which unemployment is rising has reduced, and has reduced by more than expected. This is because more private sector employers are taking people on. As the economy recovers, more private sector jobs will be created. These jobs, unlike the public sector, actually create wealth. This is good for the economy.
The UK is well and truly sick and the medicine tastes horrible. But it is working.
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The government is cutting more than just "non-jobs" and does not realise the growth, not spending cuts will fix the economy. We have kept the same failed economic system and we need to reform it. The government also needs to invest into the economy to kick start the growth of the private sector as well
---------- Post added at 15:29 ---------- Previous post was at 15:27 ----------
Quote:
Originally Posted by martyh
Alan that is complete rubbish .All this lending and borrowing took place in the boom times when work was plentiful and wages where high ,so explain that .Quite simply people thought they could afford to borrow more than they could ,they used cheap credit deals like buy now pay later ,and when the reality of actually paying it back 12 months down the line set in they rapidly realised they couldn't afford it and so defaulted .It had nothing to do with unions or rich people or major businesses .
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Wages for most of us were not rising as fast as the rich were hence the rise in wealth inequality, so it had to do with the economic system and the way the rich and major businesses (banks) made risky loans and did risky deals