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Si1

We Are Going Japanese. But Will We Reform Our Basic Economy Where The Japanese Didn't?

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Japan still his deeply entrenched generational and social interests. Subsidies for the old. Closed shop for agricultural industry. I believe many more inefficient institutionalised rules.

Will the UK grasp the initiative and go for a better more efficient economy over the next 20 years?

Edited by Si1

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I don't know.

Over the entire world I see a dominant global force promoting free trade and global capital.

With this you end up with money being made in one country but no profits declared.

This cuts the government revenue and means we don't have enough income to pay for the things that make life comfortable for the majority.

We talk about productivity and efficiency like it is some kind of solution but wages have nowhere near matched productivity. Look at the average US worker, far more productive than their UK counterparts but no better off.

What we need is a way of reducing the cost of living even if it involves, the horror, government intervention in free markets. Make it so you can't own more than one property. Make it so mortgage lending is restricted on income.

Then instead of people paying all their money for a shitty bedshit in Lewisham we can have free money to spend, start up businesses and enjoy our lives a bit more.

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They've been claiming and promising to be grasping the initiative for decades - but it's more like they've been grasping the one step forward four steps back initiative. It's destructive for the economy and the people but it seems to be the way they run things in the UK.

Look at all the promises over the years to rebalance and invest meaningfully in technology etc. Promises that have come to nothing and always the focus ends up being on the financial sector fraudsters. That plus the public sector.

Edited by billybong

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I believe that the Japanese Govt the UK Govt debt is owed to foreigners.

I don't know what that implies but it sounds like a big difference to me.

Check out the link below.

http://www.usdebtclock.org/world-debt-clock.html

Our total public and private debt owed to foreigners is 388% GDP...2nd only to Ireland (who appear to be in REAL trouble).

Cant be good.

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Japan still his deeply entrenched generational and social interests. Subsidies for the old. Closed shop for agricultural industry. I believe many more inefficient institutionalised rules.

Will the UK grasp the initiative and go for a better more efficient economy over the next 20 years?

I guess it depends on who gets political power in the new looming parliament and the next.

If we get more of the same ie protect the speculators and sod the under 50's then we are going to see that all empires decline and we are no exception.

With the human grey tide hitting retirement in huge and ever increasing numbers every year, the poorly performing economy and national debt, deficit woes the next 10 years are going to be crucial.

I'm pretty sure the state pension portion of welfare spending will be hitting around £230 billion per year in 15 years, it is currently £100 billion. Imagine how much the NHS will need too as elderley care costs take the lions share of health spending right now.

National debt interest payments will be £60/70 billion per year in several years, I dread to think what they will be in 10-15.

If something drastic doesn't happen then a two tier society will be unavoidable.

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I guess it depends on who gets political power in the new looming parliament and the next.

Does it? Seems to me that whoever I vote for is going to make it nice and ocsy for the bankers but no ones else.

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Does it? Seems to me that whoever I vote for is going to make it nice and ocsy for the bankers but no ones else.

You'd be deluded to think otherwise . They're in the right pockets

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Japan still his deeply entrenched generational and social interests. Subsidies for the old. Closed shop for agricultural industry. I believe many more inefficient institutionalised rules.

Will the UK grasp the initiative and go for a better more efficient economy over the next 20 years?

No.

Status quo for the establishment.

They'd need to give a f**k to change things.

They will only change when forced to.

It's going to get worse before it gets better

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Cue ISIS

And the soviet union ver 2.0,or even iran try to start ww3 from as many angles as possible.

War drives economy, distracts people from situation and makes suitable villain to blame for economic troubles.Rinse and repeat till people eventually if ever realise its a rigged game and "government" is to blame.

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I don't know.

Over the entire world I see a dominant global force promoting free trade and global capital.

With this you end up with money being made in one country but no profits declared.

This cuts the government revenue and means we don't have enough income to pay for the things that make life comfortable for the majority.

We talk about productivity and efficiency like it is some kind of solution but wages have nowhere near matched productivity. Look at the average US worker, far more productive than their UK counterparts but no better off.

What we need is a way of reducing the cost of living even if it involves, the horror, government intervention in free markets. Make it so you can't own more than one property. Make it so mortgage lending is restricted on income.

Then instead of people paying all their money for a shitty bedshit in Lewisham we can have free money to spend, start up businesses and enjoy our lives a bit more.

Top post Timak

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Does it? Seems to me that whoever I vote for is going to make it nice and ocsy for the bankers but no ones else.

I think we've got a shot. Politics is changing due to the warping of our society and economy by the banks reed and their client state. 2 party politics is toast, UKIP, the greens, SNP popularity and the 2010 lib dem boost show the electorate are not sure what's up but that the old red blue game is not working. All it will take is a UK 5 star movement and a British belle grillo and we can do this

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Not according to Richard Werner with the princes of the yen. He argues that the Japanese war economy has gone under a radical transformation since the 1980's and become more free market orientated.

On the argicultural front aren't all Western markets are closed shops for outside markets.

Edited by interestrateripoff

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We talk about productivity and efficiency like it is some kind of solution but wages have nowhere near matched productivity. Look at the average US worker, far more productive than their UK counterparts but no better off.

Wages depend on bargaining power more than productivity.

And one way to reduce the bargaining power of labour is to make it more productive and therefore less scarce.

So the idea that more productivity will inevitably lead to higher wages is more propaganda than fact. If anything a more productive workforce will be undercutting it's own wage bargaining power by reducing the demand for labour.

From the perspective of the worker it might actually be better to be a more scarce resource in a less productive economy than a less scarce resource in a more productive one, since in the former his increased bargaining power might net him a larger share of a smaller overall pie. And if we examine the history of the working man we see that in the past while productivity was lower the spending power of the ordinary worker was higher.

But this ambiguity will not-of course- prevent highly paid 'experts' mindlessly parroting the meme that increasing productivity will inevitably lead to higher wages- because it seems that actual analysis is not something these 'analysts' seem able or willing to do.

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Higher productivity with organic growth or currency weakness could allow higher wages, but won't , because the share holders and directors will get the cash.

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Japan still his deeply entrenched generational and social interests. Subsidies for the old. Closed shop for agricultural industry. I believe many more inefficient institutionalised rules.

Will the UK grasp the initiative and go for a better more efficient economy over the next 20 years?

I was more or less against Scottish independence, but I have to admit it could have given us all a boot up the backside.

Scotland could have persued its high investment, high tax regime, leaving the Tory dominated regime south of the border to hack away at government spending. The idea being we could attempt to be a Singapore of western Europe - very few benefits or social spending, but a more aggressive capitalistic society. Those of us who fell by the wayside could then migrant north of the border...

I don't think the structural failings in UK society will even begin to be addressed until housing benefit is deleted (maybe with other benefits increased for those in need). A shame really as we do actually have a lot of other things going for us eg the language, long-lived political traditions etc.

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