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About D.C.

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  1. China won't have a great demographic problem because it hasn't made a commitment to look after it's boomers in old age, it can watch them die of age related illnesses instead of ballooning healthcare costs to give them an extra year of life. As far as consumption goes without a whole bunch of new technological breakthroughs we have already gone past Malthusian limits on a whole range of fronts, you can't catch more fish if the fish population is collapsing, you can't grow more cereals if every single drop of water is already getting used, you can't dig more gold out of the ground if... We have been typically solving these issues by throwing more and more energy at problems but energy is about to get a whole lot more expensive.
  2. Injin, 99.99% of the time you come across a complete and utter idiot. But just occasionally I could hug you. That response was 100% hugworthy baby
  3. You seem to think there is a choice. How NuLabour of you, I'm sure that reality revolves around your personal desires and not the cold hard fact that foisting a debt of £250,000 on people with no income, no job and no assets was always going to work out badly as it is mathematically impossible for them to ever repay the capital of that debt let alone the interest accrued on it.
  4. It is worse. When renting you don't take on the risk of negative equity, your landlord does. As a tenant of a repossessed landlord you just walk away and rent another place, you don't get hit with a bill for £50k of NE.
  5. Because the banks you just bailed out have lost billions lending to fuel the boom in that market and might need bailing out again? Just like the collapse of Eastern Europe is trashing Western European banks and the collapse of Iceland had an effect on your council...
  6. http://www.ted.com/t...rie_santos.html Turns out monkeys are just as bad at money management as we are...
  7. The US knows it can't threaten China with a carrier group, the Chinese made that blatantly clear in 2007 http://www.dailymail.co.uk/news/article-492804/The-uninvited-guest-Chinese-sub-pops-middle-U-S-Navy-exercise-leaving-military-chiefs-red-faced.html The military exercises are for North Korea's benefit, not China's.
  8. To be fair I think he meant Tyler Durden on zerohedge was a wingnut libertarian. He posts with the name 'Tyler Durden' because of the character in Fight Club that blows up all the credit agencies, usually a good indicator of wingnuttyness...
  9. And the best bit is they don't realise that by slamming the poor down further their own wages will also fall to 'just above poor' as the market adjusts.
  10. Not really, the peasants were happy with their common land and could be self sufficient. The Inclosure Acts drove them from the land and forced them to become dependent on factory owners for the ability to put food in their mouths. You can not become a gas fitter/electrician etc in this country without getting a qualification from college to allow you to work. The government sets a target for each college for how many places are available on courses, the college is not allowed to go over that limit, while we had an epic housing boom the government repeatedly cut all areas of adult education and further education with the sole exception of English as a Second Language course which were massively expanded. Those 'lazy Brits' were queuing up to be allowed to educate themselves and be allowed to work but the government instead decided that instead of allowing the 'lazy Brit' to get that education at a cost of £1800 it would import a labourer and pay £1500 for them to learn English and pay many thousands out to the 'lazy Brit'. We have just spent epic sums (sorry, committed to paying epic sums over the next 30 years) of PFI money building schools and hospitals around the country, do you really want to depopulate those areas where and all associated infrastructure to cram more people into the south and build more infrastructure there to support them? Would it not be more sensible to incentivise businesses to locate themselves up north? By knocking a percentage point off corporation tax for each percent of unemployment say?
  11. Not a bad analogy. The West Midlands was the traditional industrial heartland, over the last decade the private sector has been in a depression haemorrhaging jobs not because of public sector expansion but because of competition from China/India. During the 'boom' years unemployment actually rose and average wages went down despite the Labour government creating incredible numbers of public sector jobs, the problem is they shipped in more immigrants than jobs they created. Despite the devaluation of the pound, the area is still declining, fewer and fewer jobs in manufacturing and with the public sector cuts coming... Ouch.
  12. Did you miss the giant dot.com boom and epic bust? Well, we all missed the epic bust as we blew an even bigger bubble in housing, but there was plenty rotten before 9/11
  13. Debt Saturation. Everybody is already loaded up with the absolute maximum amount of debt that they can service, increasing lending will just tip them over the edge so they pay back non of it.
  14. In part 2 the delusion is strong in that Lucy... Buying into the end of a sucker's rally by paying £32,000 over asking and then the immortal line, 'Winchester is different'...
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