Are there any sensible economists left in Britain?

Dryce

MB Enthusiast
Joined
May 17, 2006
Messages
7,715
Car
..
don't get me started on new labour
Not as if 'old labour' was much better - IMF bailout in 1976 followed by departure in 1979 after the winter of discontent with the economy in a pretty bad state.

The whole concept of a 'labour' party is an anachronism in modern Britain.

Labour should have fractured properly back in the eighties with the Social Democrats prevailing and rump Labour gone by now. If that had happened I think that the conservatives wouldn't have lasted past 1992.

Instead the SDP faltered and 'new' Labour manifested itself after the failure of 1992.
 

clever dicky

Active Member
Joined
Nov 27, 2010
Messages
421
Car
Jag
Doesn't anyone else believe they are what they 'obviously' are, working in harmony?

Neither could ever run the country on a permanent basis. None of them consider or plan for it. They are extremes either end of the scale designed to swing one way per generation, the other the next. Until people are sick of whoever has the job at the time. With LD some being some mixed up 'follow the trend' pearl necklace brigade.

(I'm sick of all of them, and they're sending us down the swanny)
 

nick mercedes

MB Enthusiast
Joined
Jan 8, 2003
Messages
7,106
Location
far far away
Car
Ford Expedition
Doesn't anyone else believe they are what they 'obviously' are, working in harmony?

Neither could ever run the country on a permanent basis. None of them consider or plan for it. They are extremes either end of the scale designed to swing one way per generation, the other the next. Until people are sick of whoever has the job at the time. With LD some being some mixed up 'follow the trend' pearl necklace brigade.

(I'm sick of all of them, and they're sending us down the swanny)
" In the 1920s, private debt rose by 50%. Between 1999 and 2009, it rose by 140%. The debt-to-GDP ratio in the US is still much higher than it was when the Great Depression began."

"the crippling sums spent on both sides of the Atlantic on refinancing the banks are a complete waste of money. They have not and they will not kickstart the economy, because M0 money supply is not the determining factor."

"the key to averting or curtailing a second Great Depression is to reduce the levels of private debt, through a unilateral write-off, or jubilee. The irresponsible loans the banks made should not be honoured. This will mean taking many banks into receivership. Otherwise private debt will sort itself out by traditional means: mass bankruptcy, which will generate an even greater crisis.

These are short-term measures. I would like to see them leading to a radical reappraisal of our economic aims and moves to develop a steady-state economy, of the kind proposed by Herman Daly and Tim Jackson. Governments and central bankers now have an unprecedented opportunity to learn from the catastrophic mistakes they've made. It is an opportunity they seem determined not to take."

It's in all our interests to understand how to stop another Great Depression | George Monbiot | Comment is free | The Guardian
 

Ream

Active Member
Joined
Jun 25, 2011
Messages
111
Car
Clk 230 convertible
Not read all the post and not itk on economics but to me it's simply the powers that be are **** scared and if they don't keep interest rates low and pump money in to the system it won't only be youth on the streets looking to get some plasmas.
 

grober

MB Master
Joined
Jun 22, 2003
Messages
28,180
Location
Perth, Scotland
Car
W204 C200CDI Estate
Funny how it all seems to go "t*ts up " at the time of the banking crisis.:dk:
 
Last edited:

Users Who Are Viewing This Thread (Users: 0, Guests: 1)

Top Bottom