We're all in this together, they said.
We're all in this what? This race to the bottom together?
It certainly looks like it.
And it's only just begun.
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From http://www.guardian.co.uk/business/2011/nov/21/poor-see-biggest-drop-household-finances
Poor see biggest drop in household finances
Markit Household Finance Index for November pointed to the sharpest deterioration in three months with low income groups and public sector workers reporting the worst falls
Phillip Inman, economics correspondent
guardian.co.uk, Monday 21 November 2011 10.24 GMT
Household finances have plummeted at the sharpest pace since August, according to a monthly survey that underlines the worsening economic situation in the UK.
The survey also revealed that the downturn in household finances was unevenly distributed and had increased the gap between the highest and lowest income groups.
Low income groups and public sector workers reported the sharpest falls in income while those on higher incomes reported only a limited fall.
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