The Uk Goods Trade Deficit Worst In 17 Months

[robo1968]

Pound continues to fall off a cliff today - to no positive affect.

don't worry about that, it is only because experts think this country is in a p**s poor state.

Durhamborn has got it, when the GBP is worth nothing, we'll crank up the old machines, that is if we can find someone who knows how to use them

[piece of paper]

don't worry about that, it is only because experts think this country is in a p**s poor state.

Durhamborn has got it, when the GBP is worth nothing, we'll crank up the old machines, that is if we can find someone who knows how to use them

Have to import them from India first - like this Lister clone.

p-o-p

[robo1968]

Have to import them from India first - like this Lister clone.

p-o-p

If you have worked in this industry it is enough to make you weep.

[scepticus]

As usual vince cable had the most sensible take on this:

For the Liberal Democrats, Vince Cable said the figures showed that relying on exporting as a means to recovery was misguided.

"It is wrong to suggest that the British economy can escape from this recession by just relying on exports. It just is not happening," he said.

"Exports are one modest part of the national economy. We need an economy that is strong and secure across the board."

[Cicero]

Then it's lucky that being British and thus owed a living by the rest of the world, we can continue being an importing, borrowing nation with no need to bother with such troublesome stuff.

+1

Yep, the new paradigm that is the post industrial "service" economy.

Lord Weinstock (head of what was once GEC, arguably Britain's greatest manufacturing conglomerate) said of Thatcher's eighties reforms:

"Yes Prime Minister, you want to encourage a service economy. But servicing what exactly?"

Fast foward 2010, Britain seems to do a good trade in Lapdancers (Spearmint Rhino et al), who "service" their customers (sorry "clients") no end!

[lowrentyieldmakessense(honest!)]

As usual vince cable had the most sensible take on this:

We need an economy that is strong and secure across the board.

and whats his central planning idea to achieve that

[OnlyMe]

and whats his central planning idea to achieve that

When the chips were down the flake crumbled. Talks some sense but no guts. Typical liberal really.

[headrow]

good post.... it must have been all that snow!

I've been working on the docks the last couple of months and the weather has had a huge effect on us.

[lets get it right]

When the chips were down the flake crumbled. Talks some sense but no guts. Typical liberal really.

To be fair, he often mentions we face some 'difficult decisions'.

He never mentions what they might be.

Trouble with all politicians is that they are disconnected from the real world. They have a policy that no-one earning under 10k should pay tax. Great idea! Do they have any idea what would happen if it were implemented. It would drive wages down.

'You don't need a pay increase this year, you're not paying tax anymore.' And 'we'll get away with offering 12k for this job, instead of the 13k we used to offer, because there's hardly any tax on 12k now.'

I hate the idea of us having nuclear weapons. And if jolly old Vince and his mates got in, in due course we wouldn't have them any more. Hurrah! Until, of course, some naughty Ayatollah says 'hey, guess what Mr. Britain - we've got long range missiles with nuclear warheads pointed at you.' At which point, if we still had 3 out of 4 of our nuclear submarines at sea, armed with Trident, I'm sure it would be very reassuring.

Nothing focuses the mind of a nutter more than mutally assured destruction.

[robo1968]

I've been working on the docks the last couple of months and the weather has had a huge effect on us.

Well you have done a good job moving all this stuff for us, chances are the deficit would have been worse if it wasn't for the weather

I was joking, everything else gets blamed on the snow

[robo1968]

+1

Yep, the new paradigm that is the post industrial "service" economy.

Lord Weinstock (head of what was once GEC, arguably Britain's greatest manufacturing conglomerate) said of Thatcher's eighties reforms:

"Yes Prime Minister, you want to encourage a service economy. But servicing what exactly?"

Fast foward 2010, Britain seems to do a good trade in Lapdancers (Spearmint Rhino et al), who "service" their customers (sorry "clients") no end!

+ another

People who think we can survive on services alone clearly don't get it

[dubsie]

It is worrying but this is the reality of the global Market. Competition on a global scale doesn't work.

Also worrying is the number of international companies closing down HQ s in the uk. Many of these companies are moving to Europe where wages are higher.....why is this happening.

[babesagainstmachines]

The Economist Annual (yes there is one) was titled "2010 - Beyond The Economic Crisis". Pretty much sums up economists.

They should be advertising their services in the back of Pick Me Up, with the rest of the sooth-sayers and tea-leaf readers, not running the world.

[Yoss]

To be fair, he often mentions we face some 'difficult decisions'.

He never mentions what they might be.

Trouble with all politicians is that they are disconnected from the real world. They have a policy that no-one earning under 10k should pay tax. Great idea! Do they have any idea what would happen if it were implemented. It would drive wages down.

'You don't need a pay increase this year, you're not paying tax anymore.' And 'we'll get away with offering 12k for this job, instead of the 13k we used to offer, because there's hardly any tax on 12k now.'

I hate the idea of us having nuclear weapons. And if jolly old Vince and his mates got in, in due course we wouldn't have them any more. Hurrah! Until, of course, some naughty Ayatollah says 'hey, guess what Mr. Britain - we've got long range missiles with nuclear warheads pointed at you.' At which point, if we still had 3 out of 4 of our nuclear submarines at sea, armed with Trident, I'm sure it would be very reassuring.

Nothing focuses the mind of a nutter more than mutally assured destruction.

You can't have 50% of a countries labour force directly or in-directly employed by the government

There's a bloody good reason no right minded politician will detail the cuts that are to come.... and it is because those cuts are likely to affect 50% of the voters employed by the state! Any government that wants to make change needs a majority., telling it like is...Is politically unacceptable.

Hence GBP is toast until post election... and then it will only have any hope if there is a decent majority... Expect the coming election to be all about SLEAZE and feck all to do with policies.

And if it is hung....we are doomed to 5 more years in the wilderness and sunny holidays will be a distant memory.

Edited March 9, 2010 by Yoss

[Game_Over]

I've been working on the docks the last couple of months and the weather has had a huge effect on us.

How come the weather didn't stop us importing stuff then?

[Guest spp]

The Economist Annual (yes there is one) was titled "2010 - Beyond The Economic Crisis". Pretty much sums up economists.

They should be advertising their services in the back of Pick Me Up, with the rest of the sooth-sayers and tea-leaf readers, not running the world.

You shouldn't be so harsh...they are only a few years early.

Hold on a minute...they think what we've just had is' the crisis', and they are actually getting paid a large sum for making all these wrong calls?

Talk about being wedged between a rock and a hard place!

How far away are we from the point where the general public realizes they've been partying on the titanic??

[Game_Over]

You shouldn't be so harsh...they are only a few years early.

Hold on a minute...they think what we've just had is' the crisis', and they are actually getting paid a large sum for making all these wrong calls?

Talk about being wedged between a rock and a hard place!

How far away are we from the point where the general public realizes they've been partying on the titanic??

Well no one is going to pay anyone large sums of money for telling the truth

[Daft Boy]

How come the weather didn't stop us importing stuff then?

That is a very good question. I look forward to the answers

[Doctor Gloom]

That is a very good question. I look forward to the answers

People were out looking at houses instead.

[porca misèria]

It is most strange that so many economists seem to think that a devalued currency will suddenly miraculously make us export lots. They don't seem to realise that becoming an export nation takes a long time, lots of investment, and the ability to make world class products that people want to buy.

How much is investment down? ISTR figures in excess of 20%, and that's just since they started printing.

[Jack's Creation]

and whats his central planning idea to achieve that

Apparently, Vince was only the Chief Economist at Shell trading ( a minor branch of the company) for 18 months. His one decent idea in all that time was to sell fuel briquettes at petrol stations.

Given that the LIb Dems state ( on their website) that he was chief economist at Shell, I think it needs clarifying.

Someone who claimed to have worked at Shell at the time, made this comment at the New Statesman Website: -.

"Vince Cable was one of the external contractor hires that Shell made from time to time to help them especially on Scenario planning work. These people were all seriously smart and immensely able – but they were backroom workers not anywhere in the line. It is inconceivable that Vince or any of his colleagues in Group Planning would have been consulted on any key current issues. That was not their role. That role was to look forward at possible futures – social, political and economic and to contribute to the scenario writing process. The people like Vince were not especially senior in the organisation and they were certainly nowhere near a level which would allow the description “high-ranking” to be used accurately.

No doubt from time to time as economic issues relevant to Shell’s business were under discussion Vince would have been asked for his views. And he would certainly have been present with other middle to senior mangers at conferences and the like. But his job was absolutely not an executive job."

Surely, any Journalist worth their salt could ring up the Shell press department and ask them to look it up in their records?

Edited March 10, 2010 by Jack's Creation

[Doctor Gloom]

How come the weather didn't stop us importing stuff then?

Ahh, the way the ports are laid out the prevailing winds caused drifts only on the export (outwards) loading side of the docks, leaving the import side of the docks (away from the winds and thus snow) free to go about business as usual.

Assuming exports are as low as they say, would this increase unemployment in the manufacturing sector? Expect modest house price increases soon then