Thursday, Jan 29, 2009
There may be hope!
Independent: We'll get poorer faster than since Attlee's time
Attlee brought in the NHS.
If this is the sort of public work that GB has in mind to stimulate the economy, then that isn't so bad.
Posted by inflation is eating my savings @ 10:38 AM (454 views) Add Comment
8 Comments
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1. Hugie said...
yup. 60 years of welfare state, and crippling state debt as a result. why not have more of the same ?
2. japanese uncle said...
I should like to repost the following (originally posted mid/Nov/2008, I guess)
-----------
As GBP stands at 144 yen level at this moment, over the med-long term, I can envisage 130 yen or 120 yen/GBP, which looks to me a reasonable level in terms of purchasing power parity. What else could you expect of an economy riddled with galactic personal debt with incredibly tiny savings (concentrated to just a fraction of the population), once the arguably the greatest housing bubble in history start to collapse in a spectacular fashion as we see now? Britons will have to endure much poorer lifestyle for the next couple of decades, as they have already spent the money that ought to have been saved for their future, while much heavier taxation is just around the corner. Unemployment may well hit 10% in the considerably near future, and after that there will be a horrific spiral, as this economy now has so little to fall back on.
As I mentioned three years ago, pawn shop and bicycle trades may well be a good buy in the share markets, as disposable income will further fall dramatically. 'When the money is gone, it's gone' will be the phrase of the times. You will see Pound Stretcher type of premises in every corner of the land. Pubs and restaurants will start to offer 'All Inclusive Fiver Dinner (three-course plus drink)' Hundreds of thousands of public sector workers will lose jobs. (Watch out closely from now, otherwise key workers engaged in the vital services such as healthcare, education, policing, rubbish collection, etc will be axed to save the neck of 'Political Correctness Coordinating Directors', 'Cultural Diversity Assurance Officers') The last thing you may wish to do as a voter, is causing landslide victory for the Tories. Otherwise you will see the exact recreation of the same old story as the NuLab(ylinth) pushed. Now voting for UKIP or even BNP for a change and shock treatment, may not be a bad idea. Giving overwhelming votes, thus freehand to any politician is the silliest and the most dangerous thing to do.
3. bluebeach said...
So JU, it's not looking too bad then?!?
4. japanese uncle said...
I
I am afraid it is rather bad.
Remember on top of the government deficit which they say will take 20 years before being cleared, the mighty 1.5 trillion personal debt is enshrined at the seat of honor in the this economy, which will have to be repaid from the constantly decreasing disposable income for how long God knows. All you can do is prey for a miracle eg super technological breakthrough or else. Can we expect a maverick genius popping out of the crowds guffawing at Big Bro TV? Let's hope.
.
5. plato said...
Very true JU, but not to those accustomed to the practising of bad habits, of which a whole generation or two now expect to go unpunished.
6. landofconfusion said...
@ 11:20AM 1. japanese uncle said...
> Now voting for UKIP or even BNP for a change and shock treatment, may not be a bad idea. Giving overwhelming votes, thus freehand to
> any politician is the silliest and the most dangerous thing to do.
JU, I agree with your sentiments completely but it's just not going to happen (IMHO).
Take the people I have to work with. A lot of them don't vote but they are always complaining about the country and the government. If you don't vote and (this is equally as important) tell your MP what you think then of course they will just run all over you. If they don't listen then by all means vote for UKIP/BNP/Lib Dem but don't just sit there and moan.
> Can we expect a maverick genius popping out of the crowds guffawing at Big Bro TV?
Not with our "higher" education system.
7. letthemfall said...
Voting for parties like the BNP is always a bad idea. Don't forget Europe in the 30s. If we are heading for this kind of depression, we wouldn't want to follow that political path. The only serious alternative to the two main parties in the LibDems in my view. At least they have Vince Cable, still for me the outstanding MP of recent years.
8. landofconfusion said...
I used to actually like the LibDems. That was until they tried to destroy the UK's computing industry.
As for voting for voting for fringe parties, if the three main ones won't listen then that may be the only way. In any case Brown seems intent in dragging us back to the 30's (well 1929-31 at least).