Great mathematical conclusions of our time

[davywavy]

I see that the National Union of Journalists are up in arms over the shocking statistic that 50% of people earn less than the average wage.

I can only conclude that a qualification in basic maths is not a requirement for becoming a Union activist these days. In fact, in the light of the above evidence I suspect that such a qualification would be a serious handicap.

Comments

[davywavy.livejournal.com]

So if we raise what they get paid then the average wage goes up, so we have to pay them more...and more...and more...
Hurrah for unbridled pay rises! That'd be good for the economy!

[(Anonymous)]

Actually, some hefty inflation would (apart from causing hideous pain for anyone with a mortgage) not be such a bad thing.

[davywavy.livejournal.com]

Not if it were limited solely to the memebrs of the NUJ, which appeasr to be what they want.

[(Anonymous)]

No, but a bit of real economic growth, as opposed to stagnation hidden by rising public debt funded governmental expansion, would push interest rates to more reasonable historic levels, like 6% say, whilst also providing for the growth in real earnings people need to actually buy or rent somewhere to live.

Of course, we may have to temper our love of cheap chinese imports. I find it ironic that as Britain prepares to celebrate, quite rightly, the abolition of slavery, we are giving the same practice the quiet nod to keep the cost of our trainers & cd players down.

[colin-boyle.livejournal.com]

Inflation is actually good for people with mortgages and salaries, because the mortgage is a fixed sum and salaries tend to increase with inflation, so the relative size of the mortgage decreases.

Inflation is generally bad for people with savings for the same reasons.

[(Anonymous)]

The MPC use interest rates to control inflation. Apart from that, yes, the hyper inflation of the 70's made property debt affordable very quickly