Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
US Housing Market Analysis - Immigration Drives House Prices Higher - 30th Sep 24
Stock Market October Correction - 30th Sep 24
The Folly of Tariffs and Trade Wars - 30th Sep 24
Gold: 5 principles to help you stay ahead of price turns - 30th Sep 24
The Everything Rally will Spark multi year Bull Market - 30th Sep 24
US FIXED MORTGAGES LIMITING SUPPLY - 23rd Sep 24
US Housing Market Free Equity - 23rd Sep 24
US Rate Cut FOMO In Stock Market Correction Window - 22nd Sep 24
US State Demographics - 22nd Sep 24
Gold and Silver Shine as the Fed Cuts Rates: What’s Next? - 22nd Sep 24
Stock Market Sentiment Speaks:Nothing Can Topple This Market - 22nd Sep 24
US Population Growth Rate - 17th Sep 24
Are Stocks Overheating? - 17th Sep 24
Sentiment Speaks: Silver Is At A Major Turning Point - 17th Sep 24
If The Stock Market Turn Quickly, How Bad Can Things Get? - 17th Sep 24
IMMIGRATION DRIVES HOUSE PRICES HIGHER - 12th Sep 24
Global Debt Bubble - 12th Sep 24
Gold’s Outlook CPI Data - 12th Sep 24
RECESSION When Yield Curve Uninverts - 8th Sep 24
Sentiment Speaks: Silver Is Set Up To Shine - 8th Sep 24
Precious Metals Shine in August: Gold and Silver Surge Ahead - 8th Sep 24
Gold’s Demand Comeback - 8th Sep 24
Gold’s Quick Reversal and Copper’s Major Indications - 8th Sep 24
GLOBAL WARMING Housing Market Consequences Right Now - 6th Sep 24
Crude Oil’s Sign for Gold Investors - 6th Sep 24
Stocks Face Uncertainty Following Sell-Off- 6th Sep 24
GOLD WILL CONTINUE TO OUTPERFORM MINING SHARES - 6th Sep 24
AI Stocks Portfolio and Bitcoin September 2024 - 3rd Sep 24
2024 = 1984 - AI Equals Loss of Agency - 30th Aug 24
UBI - Universal Billionaire Income - 30th Aug 24
US COUNTING DOWN TO CRISIS, CATASTROPHE AND COLLAPSE - 30th Aug 24
GBP/USD Uptrend: What’s Next for the Pair? - 30th Aug 24
The Post-2020 History of the 10-2 US Treasury Yield Curve - 30th Aug 24
Stocks Likely to Extend Consolidation: Topping Pattern Forming? - 30th Aug 24
Why Stock-Market Success Is Usually Only Temporary - 30th Aug 24
The Consequences of AI - 24th Aug 24
Can Greedy Politicians Really Stop Price Inflation With a "Price Gouging" Ban? - 24th Aug 24
Why Alien Intelligence Cannot Predict the Future - 23rd Aug 24
Stock Market Surefire Way to Go Broke - 23rd Aug 24
RIP Google Search - 23rd Aug 24
What happened to the Fed’s Gold? - 23rd Aug 24
US Dollar Reserves Have Dropped By 14 Percent Since 2002 - 23rd Aug 24
Will Electric Vehicles Be the Killer App for Silver? - 23rd Aug 24
EUR/USD Update: Strong Uptrend and Key Levels to Watch - 23rd Aug 24
Gold Mid-Tier Mining Stocks Fundamentals - 23rd Aug 24
My GCSE Exam Results Day Shock! 2024 - 23rd Aug 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Left Leaning BBC Ignores Britain's Benefits Social Class in Calculator

Politics / UK Politics Apr 04, 2013 - 03:11 AM GMT

By: Nadeem_Walayat

Politics

The BBC with much fanfare has been publicising it's Great British Class Survey, which seeks to extend Britain's class structure from the three traditional classes of upper, middle and working class to now comprise 7 social classes of Elite, Established middle class, Technical middle class, New affluent workers, Traditional working class, Emergent service workers, and the Precariat.


You can do the test here to find out what class the BBC rates you as, my own results planted me within the Established middle class, though personally I think a more accurate result would place me within the Technical middle class, the error is probably due to the fact I don't do social media such as facebook or twitter which impacted on the calculators results.

However there is a huge hole in the BBC's analysis and that is it excludes the 8 million of adults of working age who claim benefits of which at least 5 million are permanently on benefits and thus comprise the benefits class that amounts to 22% of those of working age in Britain, that would comprise near double the class referred to as the Precariat.

Furthermore the benefits class social pecking order would be linked to the amount of benefits they are in receipt of and therefore the benefits class would tend to straddle the whole range from the Precariat right trough to the established middle class as illustrated by the recent case of Mick Philpott (found guilty of killing his children in a botched attempt to increase benefit payments) who was reportedly in receipt of £60,000 in benefits per annum which is an comparable income to those in the Established middle class. The breakdown of the benefits class is further complicated when those in receipt of tax credit benefits are taken into account, who tend to be perceived as the more deserving of benefit claimants.

Therefore a more accurate breakdown of Britain's class structure would comprise 8 classes that includes the benefits class which is overlaid over the BBC's 7 classes as illustrated below -

Note the above excludes pensioners.

The above graph clearly shows that there exists a huge vested interest in the Benefits Culture, which is not something that has come about by accident but by Labour Party design as the last Labour government attempted to maximise vested interest voters that it was continually seeking to expand breadth of in an attempt to bribe the electorate into repeatedly voting for a Labour government, regardless of the inflationary consequences of spending money that the country does not have (printing debt).

The benefits culture can be seen as a Labour party voting block that the Conservative party can only seek to defeat at the next election by fragmenting i.e. turning one part of the benefits culture against another part in which respect the Coalition is putting In-work Benefit recipients up against Non-working benefit recipients.

The benefits culture is a disease that encourages laziness and jealousy of those who become successful through hard work, hence why those most vocal against successful immigrants tend to be lazy benefit claimants who have literally not done a days work in their lives and don't intend on doing so , but still spout the likes of the poles have taken our jobs! This despite the fact that it was LABOUR policy to import working class immigrants due to the fact that they would tend to vote LABOUR!

Unfortunately most voters are gullible and easily bribed so Labour will probably win the next general election as they will promise everyone everything under the sun, so the only thing hard working people can do is to prepare themselves for the coming inflation stealth theft of wealth that Labour election bribes will deliver.

Many vested interests decry the Tories as being the nasty party but the really nasty party is Labour because they tell the poor they cannot do anything for themselves but instead must rely on free money and services to live on and all they want in exchange is their vote the consequences of which is that Britain continues to die a slow death.

Source: http://www.marketoracle.co.uk/Article39788.html

Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2013 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of four ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series.that can be downloaded for Free.

The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 600 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in