World Economy Stuck in Status Quo for the Forseeable Future
08 May 2011, 02:47 PM
#34
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individuals seem to be seen as purely units of economic activity -- and treated, as I suggested in an earlier thread, as economic cannon fodder
when they are needed to save, they are told to save, then they are told to spend, and by not spending they are damaging the economy
no wonder people seem confused
when they are needed to save, they are told to save, then they are told to spend, and by not spending they are damaging the economy
no wonder people seem confused
09 May 2011, 07:45 PM
#35
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Last edited by GlesgaKiss; 09 May 2011 at 07:47 PM.
09 May 2011, 07:58 PM
#37
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10 May 2011, 08:09 AM
#39
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He adds up all the countries debt then slaps on another £2000Bn? When the government sells the banks back, it should at least get it's money back. The pension debt has really always been there and with public sector pensions slashed that debt will slowly come down.
Commodity prices - didn't they fall recently? Is the price driven by demand from china and india? And the strength of the dollar against the pound?
To me I really don't see how india and china can sustain their growth. We are told that theres millions of them all fledgling consumers. All very well but in order to spend they need good jobs and the majority live in poverty - and not just Daily Mail poverty where you can only afford ****, booze and the Jeremy Kyle show. Proper nothing, living in **** poverty. China in particular looks like an economic bubble on a biblical scale. Can those few affluent chinese folk really balance the rest that haven't a pot to pi55 in?
When all this started they were people refering the Japans "lost decade" and I think the whole of the western world is going to suffer a lost decade. The east will probably implode just as things start to look up here
10 May 2011, 09:02 AM
#40
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A valid view. But to be honest I don't think scare mongering comes into it. This is the worst situation the developed world has ever been in economically, there's no way to overstate that. Levels of debt that were last seen in the second world war, but back then people expected less and we had great manufacturing capability. People just suffered whatever the drop in living standards and got back to work. Now we've got all sorts of rules and regulations pushing the cost of everything up and a population who just want to buy stuff. When there are minute cuts people riot (students, for example). So there is zero chance of this ending well. It is just a case of everyone ignoring it and hoping it'll go away. Maybe the fragile east you talk about will continue to bank roll us and we'll start 'growing' again?
All those people coming out of poverty is not going to happen immediately, but it is happening and there are a lot of people much better off than they were a few years ago. Of course, if they'd let their currency appreciate rather than keeping it pegged to something that's being printed like there's no tomorrow then they would have more purchasing power and less of their goods would be coming to us.
All those people coming out of poverty is not going to happen immediately, but it is happening and there are a lot of people much better off than they were a few years ago. Of course, if they'd let their currency appreciate rather than keeping it pegged to something that's being printed like there's no tomorrow then they would have more purchasing power and less of their goods would be coming to us.
Last edited by GlesgaKiss; 10 May 2011 at 09:08 AM.
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