Saturday, Dec 29, 2007
Another 'Cassandra' also saw it coming!!
Motley Fool: We're All Living On Fantasy Island
Elliott and Atkinson made some Cassandra-Like dire predictions in April 2007.
'The decade from 1997 onwards when, following a massive electoral victory by New Labour, Britain looked forward to a brighter future. However, the Blair Years were also a decade of spin and paradoxes which have left the UK teetering on the brink of a serious downturn.'
Posted by renting2 @ 08:26 AM (375 views) Add Comment
3 Comments
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1. alan said...
It's a good analysis and has been posted on this site before, but the book warns of:
1. At the time of Labour's first election victory, personal debt totalled under £500 billion. Today, that's £1.4 trillion.
2. The collapse of Britain's industrial base.
3. Cheap imports from the likes of China can only suppress UK inflation for so long before this bubble bursts as well.
4. Vast increases in spending on the NHS and education have not been accompanied by similar rises in productivity and efficiency.
5. Unemployment plus 2.5 million people claiming sickness benefits of various kinds.
6. The fantasy of Britain as a military superpower.
7. Ecological time-bomb: rising prosperity creating greater demand for natural resources, increased pollution and the consequent damage to our climate.
Worth a read.
2. Rockinghorse said...
@alan "Worth a read"
Seconded.
3. it_is_going_with_a_bang said...
"Bullsh** Britain"!
That pretty much sums up the economy.
It's a debt driven pile of S***.
"Mass hiring of your own population is no way for a government to manage employment imbalances!"
It really is the public and service sectors that have brought unemployment down.
What happens when the government runs out of money and what happens when we nobody has the money to go out and eat at the thousands of cafe's restaurants bars takeaways etc.
Should be interesting to see where these great jobs are then.