Comments by "TJ Marx" (@tjmarx) on "Cost of living crisis: inflation barely drops as Brexit fuels food price rise" video.

  1. 1:44 Seriously, get competent journalists. Of course there's a substantial gap, that's how inflation works. For the last time, you can NOT put up wages to battle inflation. Doing so only increases inflation twice. The higher wages go right now, the worse this will get. Productivity needs to increase. It's that simple. This reporter doesn't belong in front of a camera. She's clueless. 3:29 Who is this numpty? No, it isn't growth that's the issue. It's PRODUCTIVITY. You don't want growth during low productivity, that's inflationary too. Take an economics 101 class or something, my gosh. 4:14 The UK is not a rich economy. The UK is bankrupt.
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  2.  @stephenwalker2924  Beyond your fundamental misunderstanding of inflation, your initial premise is outright false. Wages are not "record breaking lows right now". In fact all wages everywhere are the highest they've ever been in history. That's how wage growth works. You may be confused with the term real wages which the media shouldn't be throwing around without real economic explanation. It's just caused more damage. Real wages is essentially the buying power of your wages. Inflation is the devaluation of currency, which means the money in your pay packet is worth less and as a conversation to CPI thus has less buying power. So whenever there's high inflation, real wages are lower even though actual wages increase. The more actual wages increase, the higher inflation goes and thus the lower real wages become. The only way to fix the issue is to freeze wages, control surplus cash in the economy and most importantly increase productivity. Productivity is not growth. Growth makes things worse. Productivity is the same staff producing more product, whatever it is the business sells. So if for example we want to talk about the NHS, higher productivity would mean increasing the number of patients seen in a day without increasing costs, and thus clearing the backlog. In terms of the railway, it means drivers actually showing up to their shifts and, well let's just start with running 99% of scheduled services and go from there. If you work in manufacturing of some kind, it means making statistically significant more of whatever is being manufactured per shift than before. If you work in an office it means getting through more of your assigned tasks. You get the idea. The key is more output without anymore costs. When people strike, productivity becomes zero and that is inflationary. So the best thing everyone can do right now is 1. Boo the unions for striking. Demand they get back to work 2. Be more efficient and productive at work 3. For those who can afford it, regularly donate to food banks and other such charities helping those on the lower socioeconomic scale get through this period. If you can't afford to donate to these charities, perhaps you can give up some leisure time to volunteer. The only way everyone gets through this is by standing together, shoulder to shoulder, and the financially strong lifting up those whom have collapsed with essentials.
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