Good morning. It's three minutes after ten and you are listening to James O'Brien on LBC.

Now, I am not expecting a pat on the back. I applaud it or even even a biscuit.

But I, and also I've got nowhere proving that it's true unless I invite the producer onto the

program. But even if I did and the producer said, yes, this is absolutely true. What James

is telling you is absolutely true. You wouldn't believe either of us necessarily because of course you know i wouldn't invite the producer in to say

that i was lying to you but yesterday if we'd had another hour on the program i did i mention this

yesterday if i mentioned this yesterday then ignore the last last few attempts at self-protection.

If we'd had an extra hour on the program yesterday, I would have asked you to solve the mystery of how wages could be coming down in real terms.

Do you want to know something really terrifying?

If you don't include bonuses, bonuses, And how many people get bonus for the record,

if my listening figures reach scale, certain heights,

I get bonuses.

But it's fairly rare, isn't it?

Most jobs, I mean, big bonuses, decent,

you always think of bankers bonuses.

If you take bonuses out of the equation

and simply look at salaries and wages,

and you factor in inflation, and don't worry about inflation, by the way,

because I'm sure I've got a vague memory of someone telling us there was nothing to...

Lots of people who know what they're talking about.

Experts, we used to call them, before the country had had enough of experts,

they've been warning about inflation for a long, long time. And I know today that officially it may look like inflation is going to places

...