Wednesday, January 26, 2011

Use It Up, Wear It Out, Make It Do

Or do without.
Except if you're in the top few percent that is.

Bank of England: Standard of Living to Plunge at Fastest Rate Since 1920s

"Households face the most dramatic squeeze in living standards since the 1920s, the Governor of the Bank of England warned, as he reacted to the shock disclosure that the economy was shrinking again.

Families will see their disposable income eaten up as they “pay the inevitable price” for the financial crisis, Mervyn King warned.

With wages failing to keep pace with rising inflation, workers’ take- home pay will end the year worth the same as in 2005 — the most prolonged fall in living standards for more than 80 years, he claimed."

Candles, lanterns and 10-gallon water jugs


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