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What Happens When The Dust Settles?

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If the recession is long and deep:

I think that when the eventual recovery comes, it will leave behind a lot of the recession victims. Many of these left-behinds will drift into the underclass, and we might see another new category forming: - the middle-underclass.

Edited by blankster

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Interesting that all these people consulted by the Beeb are relatively orthodox economists, not one successful entrepreneur or wealth creator among them, and certainly no-one questioning the basics of the debt-based money system.

Modern economics consists mainly of theories of how best to maintain and perpetuate debt enslavement and the dominance of the money system.

If we had a permanently circulating, debt-free, collectively issued means of exchange and, as far as possible, we were then left alone to get on with our businesses without undue interference, then we might see real prosperity for all.

Banks should be money handlers rather than money creators and money for new enterprises should come from a multitude of risk-taking venture capitalists using their own pre-existent and preferably hard-earned money. Such a system would greatly favour real wealth creation rather than the destructive and parasitic leveraged speculation of recent years.

We must decouple the power to expand the money supply from the power to deploy money.

Of course everyone is now recommending tighter regulation, but why not change the whole system rather than merely restrain the more pernicious aspects of the current burdensome set-up?

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If I got a quid for every time somebody used the phrase "Interesting Times" I'd be recession proof.

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If I got a quid for every time somebody used the phrase "Interesting Times" I'd be recession proof.

It I got a quid for every time someone said "If I got a quid", I'd have a perpetual motion machine.

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I'm not one who believes it will be TEOD, but I can see us having 3-4 million unemployed virtually forever unless the govt create even more non-jobs. The economy as structured before is knackered.

Maybe the extremists in the 'green lobby' will get there way. Labour costs for food production will rocket with the cost of fuel and we'll need 2 million more people working the land, tending the horse and carts, etc.

I wonder if they'll introduce a VED band for 'real' horse-power vehicle. :P

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Interesting that all these people consulted by the Beeb are relatively orthodox economists, not one successful entrepreneur or wealth creator among them, and certainly no-one questioning the basics of the debt-based money system.

.....................................................................

"Michael Hughes is an independent economist, and formerly Chief Investment Officer for Barings and Chief Economist for Barclays Capital."

I'm inclined to agree with The Spaniard that I would feel a little uneasy basing any decisions on the thoughts of someone with both those institutions on his CV (even if he wasn't around at the times of their difficulties).

p-o-p

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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