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It's the stupid economy

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  1. chdot
    Admin

    George Osborne blames the last Labour Government and the EuroZone. 

    Ed Balls blames the current Government and says the last one kept the UK out of the EZ. 

    John Swinney blames everyone at Westminster, but could imagine being part of the EZ when it settles down again. 

    'We' blame everyone who drives to work (especially those who only go 2 or 3 miles into the centre of Edinburgh) when there are alternatives. 

    Worldwide most politicians say 'the biggest threat is Climate Change', but then relegate it down the 'most important' list behind The Economy, Growth, Immigration etc. 

    Communism was best for those in charge, so is capitalism (or is that for friends of those in charge? - all Parties mentioned above). 

    China is still communist - and more capitalist than most countries - and building more coal power stations and 'renewables' than anybody else. (Mostly so that they can export 'stuff' to 'us'.)

    People in even more countries want 'democracy' - whether that is shorthand for 'western style consumerist capitalism' is uncertain. Unclear if Government changes in Greece and Italy have much to do with democracy. Even less clear in Iraq and Libya etc. 

    Of course such things haven't been in the UK news so much lately - more concern about the 'autumn statement' and 'public sector workers' pensions' and 'what Rebekah really knew'. 

    But the sun is shining again, and the shiny toy season is almost upon us. 

    Who cares if the New Year brings snow and credit card bills(?)

    Posted 13 years ago #
  2. chdot
    Admin

    P.s. We ARE all in this together - just not in the way Mr. O imagines.

    Posted 13 years ago #
  3. chdot
    Admin

    "
    Life after the end of economic growth

    A continually rising GDP is not necessarily possible – or even desirable. So why do policymakers obsess over it?
    "

    http://www.guardian.co.uk/commentisfree/2011/nov/30/end-of-growth

    "UK faces sharpest drop in income since 70s"

    http://www.scotsman.com/the-scotsman/uk/uk_faces_sharpest_drop_in_income_since_70s_1_1989377

    Posted 13 years ago #
  4. holisticglint
    Member

    @chdot - A continually rising GDP is not necessarily possible – or even desirable....

    Since the economy is ultimately based on raw materials and space travel is not really going anywhere then GDP is ultimately constrained by what we can dig out of the ground. Actually we are pretty close to those limits already.

    http://s.informationisbeautifulawards.com/blog-content/uploads/2011/11/How-much-time-do-we-have-left-Sarah-Day-.jpg

    More on steady state economics

    http://steadystate.org/

    Posted 13 years ago #
  5. SRD
    Moderator

    I honestly thought I could not read anything to depress me more - than i saw Larry Elliot's column/article in today's Grauniad. oof.

    Posted 13 years ago #
  6. chdot
    Admin

    "I honestly thought I could not read anything to depress me more"

    OK

    "
    The Party's Over – How The West Lost The War Of Globalisation

    BBC Business Editor Robert Peston makes sense of the past 30 years of the global economy and predicts current government cuts are just the start of an era of austerity caused by the seismic rebalancing of the world economy between the West and the emerging economies led by China.

    Robert charts the parallel lives of families in Britain and in the new superpower economies, interviewing politicians, bankers and economists around the world, to expose the realities of our economic predicament.

    The first programme shows how the consumer boom in the West was an illusion fuelled by cheap credit and the huge deflationary effect of cheap goods made in China.

    The second film looks to the future, asking whether China and other developing economies are taking the lead in the so-called knowledge economy, previously dominated by the West, and investigates what we can do to compete.

    Robert brings home to the audience the implications of a crisis that has been brewing for decades.

    "

    http://www.bbc.co.uk/pressoffice/pressreleases/stories/2011/06_june/22/modernbritain.shtml

    Posted 13 years ago #
  7. crowriver
    Member

    They had a word for it back in the 1970s: Stagflation.

    Posted 13 years ago #
  8. kaputnik
    Moderator

    The word pessimism should be replaced by "pestonism".

    I'm going to take it upon myself to cheer us all up through the medium of crap puns and slightly saucy illustrations.

    Peston may know his onions when it comes to economics and all that but he seems not to acknowledge the bigger-than-massiver-than-herculean population, demographic, environmental, social and political challenges facing China and India. In comparison the "problems" of Europe seem rather trifling.

    Posted 13 years ago #
  9. Baldcyclist
    Member

    There are a number of commentators who believe the BBC (Peston, Flanders et al) are toe'ing the party line by talking UP our economic prospects, and not really telling us how bad things really are!

    Posted 13 years ago #
  10. DaveC
    Member

    Oh talking of pessimists...

    Kevin (we're doomed I tell ya all) McCloud....

    Knows his stuff but boy can he talk down a project. He spent one program talking about how a house being reroofed with thatch from Norfolk would have to be removed once the local planning agent saw it, as it wasn't the local stuff (hay) which was being replaced. Planner came over, loved what they saw and went home. Pished all over McCloud's fire!!

    Posted 13 years ago #

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