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Why there will be no real recovery from this recession

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    Why there will be no real recovery from this recession

    It is structural rather than cyclical. What happened is that reality intruded and pointed out we are living beyond our means.
    We may blame bankers for creating sub-prime mortgages, but the fact is that if there wasn't a demand created by government, the media and other forces there wouldn't have been any sub-prime.
    There is no solution except to increase productivity and accept real cuts in wages. However this is unacceptable to most.
    And so we will drift on, papering over the cracks. The elite will always make money: banks are a licenced extortion racket as was shown by how soon they recovered from what was portrayed as imminent meltdown. Globalisation means that change is accelerated so the relative decline of the UK will continue apace.
    Our children will find it a very difficult world and will probably have to go abroad to find work as the multinationals move their centre of ops to Asia.
    With all this in mind those of us with children should bring them up as globalised, multi-lingual citizens of the world. It is their only chance.
    Hard Brexit now!
    #prayfornodeal

    #2
    Originally posted by sasguru View Post
    There is no solution except to increase productivity and accept real cuts in wages.
    True, but when India is already using monkeys as security guards / policemen it will be a difficult transition to bring western living standards down to comparable levels.
    How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

    Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
    Xeno points: +5 - Asperger rating: 36 - Paranoid Schizophrenic rating: 44%

    "We hang the petty thieves and appoint the great ones to high office" - Aesop

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      #3
      Spot on. The West has grown fat, lazy, decadent, and complacent. Emerging economies are lean, hungry, and motivated.

      With all this in mind those of us with children should bring them up as globalised, multi-lingual citizens of the world.
      Amen.
      You won't be alerting anyone to anything with a mouthful of mixed seeds.

      Comment


        #4
        Originally posted by HairyArsedBloke View Post
        True, but when India is already using monkeys as security guards / policemen it will be a difficult transition to bring western living standards down to comparable levels.
        To be fair the monkeys are there to scare other monkeys away not as security guards
        Thing is Britain, just about, adds enough extra value in stuff like pharma, arms, cultural activities like publishing/broadcast etc and various other niche sectors to justify paying itself more.
        However the Indians and Chinese will equalise pretty quickly I would imagine, probably in the next generation or two.
        Hard Brexit now!
        #prayfornodeal

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          #5
          There is a suggestion that bankers knew the adverage person would not borrow 50K to spend on tat. But they might extend their morgage by 50K as the had made a profit on their house, to buy tat.
          Fiscal nomad it's legal.

          Comment


            #6
            Originally posted by alreadypacked View Post
            There is a suggestion that bankers knew the adverage person would not borrow 50K to spend on tat. But they might extend their morgage by 50K as the had made a profit on their house, to buy tat.
            You can't blame the bankers for the stupidity of those borrowing money to buy tat. It is their job to provide finance not to act as moral guardians. The people who should be looking at the bigger picture are the regulators and this one of the ways where Gordon failed miserably.
            Hard Brexit now!
            #prayfornodeal

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              #7
              Bolderdash. According to the ONS, the UK's economy nis growing at its fastest pace since 2001.

              Wake up all you naysayers. THE BRITAIN IS BOOMING AND THAT'S OFFICIAL!

              Comment


                #8
                Originally posted by GreenLabel View Post
                Spot on. The West has grown fat, lazy, decadent, and complacent. Emerging economies are lean, hungry, and motivated.



                Amen.


                Introduced far too much social welfare.
                How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

                Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
                Xeno points: +5 - Asperger rating: 36 - Paranoid Schizophrenic rating: 44%

                "We hang the petty thieves and appoint the great ones to high office" - Aesop

                Comment


                  #9
                  Originally posted by gricerboy View Post
                  Bolderdash. According to the ONS, the UK's economy nis growing at its fastest pace since 2001.

                  Wake up all you naysayers. THE BRITAIN IS BOOMING AND THAT'S OFFICIAL!
                  Britains economy "grew" during most of the period between 1995-2007.
                  So why was the end result of this "growth" a massive deficit, record debt and huge unemployment?
                  Could it be we need to redefine what "growth" is?
                  Hard Brexit now!
                  #prayfornodeal

                  Comment


                    #10
                    Originally posted by HairyArsedBloke View Post


                    Introduced far too much social welfare.
                    Haha, true. Which, as sasguru pointed out, has quickly become structural and entrenched. Most of it should never have been introduced in the first place given that it simply wasn't/isn't affordable. Unfortunately the massive parasitic client state built up over the last decade has quickly become accustomed to receiving a weekly wad of beer vouchers for doing four fifths of feck all, and taking steps to shift society back in the other direction will be greeted with shrieking accusations of "heartlessness" and "callousness".

                    As I mentioned in another thread, I really doubt that the public has the stomach for cuts on the scale of what's required, but I hope I'm proven wrong.
                    You won't be alerting anyone to anything with a mouthful of mixed seeds.

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