Friday, April 26, 2013

Reports in - why bother

New reports in.....  headline news ...   People are not spending much.  No shit!  How much did they pay that bunch of researchers to look into that difficult conundrum.  The report goes on to say that people are focusing their money on their bills and not spending much on holidays and treats.

Anger rises within me.  Grrr.

This of course should be no surprise to anyone.  The idea that the majority of people are able to budget, assess risk and manage their finances against a policy they set themselves when times are hard is maybe a skill our banking sector should have learnt.   Interestingly maybe that is one of the issues.   Its not that the decision makers in banking get so much money for their work (I am not against rewards for good performance but clearly that is not the case here) its that the effect of having so much money makes these decision makers immune to the issues the rest of us face.

Electricity and gas (generally utility bills) are rising, rents continue to rise, mortgages are still hard to come by and even if you can get one the deposits are high and the price of housing still silly.  So no surprise that there is less discretionary spending money around.

It would be nice if there were some reports about what can be done and not just stating the obvious.

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