Monday, Jan 29, 2007
Debts and Bust Not Confined To Consumers
FT.com: Winding-up petitions increase 23%
If this article is correct, then businesses are indebt and struggling too. Take the quote "The research identified the services sector across the UK as experiencing the most difficulties and having the highest number of companies with significant and critical problems." If the consumer is struggling, and the services sector is finding it hard, and we have no manufacturing left, can someone just tell me WHY BRITAIN IS BOOMING? (PS They can also tell me why house prices are remaining ridiculously high too.)
Posted by talking rot @ 11:52 PM (42 views) Add Comment
3 Comments
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1. Andy said...
Britian is booming on one thing - confidence,
This is not linked to any hard asset or fact or even the basic fundamentals of industrial economies.
Remember some quotes of those who made it sucessfully in the economic forum:
Boom is always followed by Bust - George Soros
Remember to invest in the fundamentals - Warren Buffet.
The modern economists say that this is a knowledge economy - I don't think knowledge can be supported without any hard industrial base and it's not as though we are a cleverer intelligent form than other more industrious nations - I think the same reasons were given towards the end of the roman empire as silk,copper,iron minerals and ore trading began increasing eastwards, they were living of the fat that was inherited with no intent to earn it, basically they got lazy and flakey and choked themselves in regulations passed by the senate (sound familar??).
We are at the peak of our economy and theres only one way to go:
Who wants to live forever?
2. dohousescrashinthewoods said...
We are in a recession. Just because Gordon is prepared to be disingenuous and the figures can be skewed by gulping in Eastern European slave-labour does not mean we are not in trouble. Let's face it, the US has been bare-faced lying about theirs even as they slide away. ("It's a soft landing!", whoops, slipped a little further, "no, now it's a soft landing!", whoops a little further.. etc.)
I don't know where the apparently buoyant retail sales data is being cooked up from, but redundancies, inflation, people miserably squeezed and impending global property and liquidity disasters, we are about as economically stable as an two elephants on a greased tightrope.
3. dohousescrashinthewoods said...
(Andy, I heartily agree, is this the end of an old empire that has forgotten it needs something real to sustain it?)