Fascinating. Income up, inflation up, savings up and spending up. It’s magic!
The banks huge profits are coming from interest earned from the savings people have stuffed them with
> *”While 1.2% is a relatively small increase, incomes are out-pacing significant price rises, and the growth in the quarter comes after several quarters of smaller rises or even slight falls”*
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Fascinating. Income up, inflation up, savings up and spending up. It’s magic!
The banks huge profits are coming from interest earned from the savings people have stuffed them with
> *”While 1.2% is a relatively small increase, incomes are out-pacing significant price rises, and the growth in the quarter comes after several quarters of smaller rises or even slight falls”*
This is the comment on the [CSO](https://www.cso.ie/en/releasesandpublications/ep/p-hs/householdsavingq22023/) website. Is it possible to explain the rise in savings as less expenditure by the public or is it necessarily tied to a rise in income?
And this rise in wages, is it in the room with us now?
Did everyone else get a raise?
In the meantime Irish banks are skimming the interests on said savings and recording massive profits …
Who’s getting wage rises?
Jedi mind tricks don’t work on me boy
Where precisely is this rise in wages? I’m on the lookout for something similar and haven’t seen anything.