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Old 01-19-2009, 06:28 PM   #16
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Labour always mess up the economy and it is left to the Conservatives to sort it out. I think in around 4 years' time Britain will be in an ok position.

Ireland I don't know what is going to happen.
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Old 01-19-2009, 06:30 PM   #17
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Perhaps if everything hadn't been sold off and privatised back in the day we wouldn't have fallen so hard now... oh, and who did all of that? Thatcher.
Our current economic failings have nothing to do with the Labour government.
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Old 01-19-2009, 06:35 PM   #18
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Perhaps if everything hadn't been sold off and privatised back in the day we wouldn't have fallen so hard now... oh, and who did all of that? Thatcher.
Our current economic failings have nothing to do with the Labour government.
I can't believe how anyone can say that with a straight face. New Labour inherited an economy in a pretty good state back in 1997. If you read Jeff Randall and Ambrose Evans-Pritchard they have been warning of the debt bubble for years now.

Even New Labourite Will Hutton admits the situation is dire.
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Old 01-19-2009, 06:41 PM   #19
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The economy was in a brilliant state when Blair came into power, because it was experiencing the 'boom' of Capitalism. Now we're experiencing the crash. It hasn't worked.
However I'm no fan of New Labour
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Old 01-19-2009, 08:14 PM   #20
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I don't know what is going to happen.
World history would suggest that your countrymen will start to make any working and lower class immigrants feel most unwelcome. The mob is already muttering over their pints in the pubs.
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Old 01-19-2009, 08:20 PM   #21
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World history would suggest that your countrymen will start to make any working and lower class immigrants feel most unwelcome. The mob is already muttering over their pints in the pubs.
You are right to point to this danger. I haven't seen much evidence of outright racism thus far but unfortunately this is something to be concerned about going forward.
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Old 01-19-2009, 08:23 PM   #22
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Would all the unrest ultimately lead to acceptance of the Euro?
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Old 01-19-2009, 08:26 PM   #23
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Would all the unrest ultimately lead to acceptance of the Euro?
Ireland is already in the Euro. If your question refers to the UK, for that country to enter the eurozone would be idiotic, in my opinion, as I said before. Neither would UK electorate accept it, in my opinion.
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Old 01-19-2009, 08:32 PM   #24
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Ireland is already in the Euro. If your question refers to the UK, for that country to enter the eurozone would be idiotic, in my opinion, as I said before. Neither would UK electorate accept it, in my opinion.
Yep, was referring to UK. So you don't think the situation would deteriorate to the point of acceptance?
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Old 01-19-2009, 08:34 PM   #25
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Yep, was referring to UK. So you don't think the situation would deteriorate to the point of acceptance?
I have seen this point made before, but with respect, I don't quite understand the logic here. Where is the benefit? They have a freely floating currency so they can devalue any time they want, hence making their exports more competitive and helping recovery. Indeed, they have already done this.
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Old 01-19-2009, 08:39 PM   #26
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If, God help us, a depression comes, I fear that we (speaking for modern Americans like myself) are so ill-equipped to handle any genuine collapse of the everyday life we've grown up in. Most Americans (and I expect western Europeans) haven't known much outside of a society where you can have anything you want almost the moment you think of it. I honestly can't remember the last time I was hungry. It's a very unique time and place in world history when even the most common members of society have everything they need on a daily basis, and consider it struggling to afford a giant plasma TV or intercontinental vacation. Pray we can stay this flabby.
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Old 01-19-2009, 08:41 PM   #27
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If, God help us, a depression comes, I fear that we (speaking for modern Americans like myself) are so ill-equipped to handle any genuine collapse of the everyday life we've grown up in. Most Americans (and I expect western Europeans) haven't known much outside of a society where you can have anything you want almost the moment you think of it. I honestly can't remember the last time I was hungry. It's a very unique time and place in world history when even the most common members of society have everything they need on a daily basis, and consider it struggling to afford a giant plasma TV or intercontinental vacation. Pray we can stay this flabby.
True enough. The thing I'm concerned about presently is the bond markets for government debt. I'm going to be flagging this in future posts.

Edit: I think I could live on very little, if I set my mind to it. Plenty of people live on very little without having a choice in the matter, so I suppose it's a matter of perspective.
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Old 01-19-2009, 08:44 PM   #28
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True enough. The thing I'm concerned about presently is the bond markets for government debt. I'm going to be flagging this in future posts.
Me too, which is why I worry for all major currencies and wait to see who's left standing (if anyone) and what types of further integration will happen out of desperation.
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Old 01-19-2009, 08:46 PM   #29
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True enough. The thing I'm concerned about presently is the bond markets for government debt. I'm going to be flagging this in future posts.
You flag that bond market, I'm stocking up on tins of sardines and distilled water. My underground bunker is almost finished.
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Old 01-19-2009, 08:58 PM   #30
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Me too, which is why I worry for all major currencies and wait to see who's left standing (if anyone) and what types of further integration will happen out of desperation.
Yes I see what you're getting at now.

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You flag that bond market, I'm stocking up on tins of sardines and distilled water. My underground bunker is almost finished.
Guns and butter, as they say...
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