"Dr's, nurses, firemen, civil servants, police officers... Everyone seems to be taking a huge hit. Pensions, pay, working conditions, all being eroded. The only ones who seem to be doing well now are bankers and builders."
Don't forget politicians. They are doing very well with their salaries, pensions and perks.
The race to the buttom is in fact happening everywhere and is the wealthy's (politicians and other influencial people) attempt to marginalize the middle class.