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The Economy Is Being Rebuilt On Sand. (Vince Cable)


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Guest KingCharles1st

One can barely comprehend how poor the choices are for the British people. Osborne is a snake. It's obvious. I'd sooner have Alastair Darling running the place.

I hate to agree- but I possibly agree here.

As I posted yesterday, I sniff a leadership change- and I think power could be transferred to Darling by the end of January.

Edited by KingCharles1st
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The only recommendation I would make to the Tories is not to laugh and joke as they score funny points. Hague made that error - that if you tie the opposition in knots with your wit, that you would win the election.

No. They need to show real anger, consistently, for the parlous state of this country and its finances and morals. The electorate would respect that.

Excellent point. Except they'd just get the X-Factor team in to advise on how to convey this "real anger" to the public.

Answer: "Always mime. And wear funny hairstyles."

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Excellent point. Except they'd just get the X-Factor team in to advise on how to convey this "real anger" to the public.

Answer: "Always mime. And wear funny hairstyles."

what's that supposed to mean?

do we really have to be subjected to jedward milliband?

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Pretty certain that Labour don't want the next election... there's too much complicated stuff to sort out and no healthy chunk of monmey left for them to waste on big spending schemes.. credit card is maxed out too.

If they do get in, they won't be able to have any statist fun.. much better to let the tories in to clear the debt, attract the negative PR as the "nasty party" leaving them with a big chunk of cash for when they next get in power.

I won't be voting for them, but I kinda hope they do win with a tiny majority... something like 25.5% lab, 25% con, 14% lib combined with an incredibly low turnout - that would really be torturous for them. They won't have the slightest clue about how to prevent state failure, and the other 2 parties will really be able to kick them in the nuts if LD/Con have a lot more seats than they do.

Edited by DementedTuna
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I think Vince's "rebuilt on sand" could become a classic line.

It is true inasmuch as the treatment for the problem of loose money creating asset bubbles has been to provide more loose money and create more asset bubbles.

But would Vince have thrown less money at the economy?

Maybe we should look to Dubai for expertise "building on sand"... ;)

I think the Lib Dems (or VC) seem to have a better grasp of the asset bubble problem, their talk of land tax and mansion tax is some evidence of this. Nothing to stop bubbles in other asset classes from inflating, but few tangilble assets are as important to the UK as housing IMO.

However, I'm sure that none of the main parties would have completely dealt with the problem before it got out of hand.

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He has a bit of the academic about him.

Strong on diagnosis of problems, much weaker on solutions.

Like the academics who discovered electricity? Or the internet? Or medicine?

The only solid base for a wealthy country is education. Not credit bubbles and housing market pyramid schemes.

The USA and the EU will recover fast, as they know that. We will not, mainly due to our anti-academic culture, very strong amongst both the people and the landed aristocracy. Prince Charles and chavs have that in common.

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Ouch to hit the official projections of the actuarial industry pensions have to increase by 8% a year after inflation is factored out! And most pensions in Britain are underfunded by that offical standard.

I remember when I found out the actuarial industry assumes a permanent 8% a year increase in its calcualtions.. I Lol'ed.

Cable's analysis - there's a debt bubble

Cable's solution - get the banks lending again

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Like the academics who discovered electricity? Or the internet? Or medicine?

The only solid base for a wealthy country is education. Not credit bubbles and housing market pyramid schemes.

The USA and the EU will recover fast, as they know that. We will not, mainly due to our anti-academic culture, very strong amongst both the people and the landed aristocracy. Prince Charles and chavs have that in common.

But the state project is dictated by academics, for the benefit of bankers and chavs. Doesn't matter whether it's US/EU/UK - nobody's getting out of this one alive. The funny thing is the academics expect people with real jobs to pay for their daft nonsense. Computer says no, I'm afraid.

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But the state project is dictated by academics, for the benefit of bankers and chavs. Doesn't matter whether it's US/EU/UK - nobody's getting out of this one alive. The funny thing is the academics expect people with real jobs to pay for their daft nonsense. Computer says no, I'm afraid.

"Academics" are just the top of the educated classes, the middle classes.- also called cadres, or professionals, or, more importantly most of us TAX-PAYERS!

Since the industrial revolution, the middle classes gained economic strength, mainly via "brain" power - skills, knowledge, education, hard work. This brought also political power in most now developed countries (particularly after the American and French revolutions), and the "landed" classes lost power - in most developed countries, but not much here in Britain. Here the class system still resists "modernisation", and meritocracy. And the political system is still polarised between a "working" class party (more like "benefits" class nowadays) and a nauseating privileged posh Conservative party.

We still have an anti-education culture, sponsored mainly by the upper and lower classes. And we don't have a party for the middle/professional/technical/educated classes.

What we need in Britain today is a more middle class tax-payers political power!

Or, to put it in the usual way: "Middle classes, unite!" ;)

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I think Vince's "rebuilt on sand" could become a classic line.

It is true inasmuch as the treatment for the problem of loose money creating asset bubbles has been to provide more loose money and create more asset bubbles.

But would Vince have thrown less money at the economy?

Yes, Cable is good. He is competent in economics, a rare thing in this government. Gordon Brown is a historian, and managed the treasury like an amateur. He did not understand the growing danger posed by the growing debt/property bubble. Cable saw it, and warned the government, and the country, many times. He would be a good Chancellor.

Edited by Tired of waiting
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Look at the plan and ask the right questions. ;)

I foresee a profitable future for you on Zopa.com :P

Seiously, I suspect that lenders are asking the right questions -- and the answer they're coming up with is that there aren't enough credit-worthy borrowers around for "normal levels" to resume.

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