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Elsie
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Posted: 26 April 2010 at 21:34 | IP Logged Quote Elsie

I am just completely baffled by the problems of the economy.

What I don't understand is how we can stumble from crisis to crisis (wars, floods, crippling winter, loss of all our industries, volcanic ash...) even though all we've heard on the news is doom and downturn since long before half of it even happened - and yet these politicians all seem to be suggesting that if we just follow their respective sensible ways forward - everything will be alright in the end...


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Colgrin
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Posted: 26 April 2010 at 22:12 | IP Logged Quote Colgrin

Elsie,

Here's a clue:

The years after world war 2 to around 1973 saw some of the biggest
economic growth in human history. Rising employment, rising wages and
with no financial crisis of any scale we see today if at all.

This was also a time of stringent regulation of the financial sectors and high
taxes ( in the US it was as high as 90% for the top earners).



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the nobz
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Posted: 26 April 2010 at 22:54 | IP Logged Quote the nobz

Its also not a good idea to screw us all with higher taxation in an import reliant economy during a period of rising inflation particularly in the current climate.

Higher prices, stagnant wages, higher taxes = less disposable income, less spending and lower incomes = reduced tax receipts, reduced credit availability constraining demand, lower tax receipts = further pressure on public sector budgets, what next?  Increase taxation on incomes and employment again to fill the budget deficit? Its an ever decreasing circle, the only way out is to deal with the issues a Government can effect and that is tax and spend.

The fundamentals of the economy have changed and reference to history on this one is misguided although I would agree that banking regulation needs to be much tighter. We are not coming out of a period of wide spread destruction with masses of capacity in the major economies to inflate into, capacity is currently used up which is why we have unemployment.




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Colgrin
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Posted: 27 April 2010 at 10:19 | IP Logged Quote Colgrin

That is quite correct. Things have changed and technology has taken the financial industry to levels undreamt of.

However you can take it further. If going back to high regulation, high taxation is just whimsical nostalgia then why not apply it to the current “self-regulatory” model. Lassiezz faire, leave it to the markets were tried in the back end of the 19th century and they, as John gray puts it in “Gray Dawn” culminated in 2 world wars, the global depression and the rise of the welfare state.

So whether we look at what worked in the past or not, it is a no-brainer that the free-for-all-until-it-goes-belly-up-and-the-taxpayer-bails-u s-out cannot go on. The financial sector needs to be constrained so that if they want to embark on their little speculative bubbles and it inevitably crashes around their ears it won’t take the rest of us with them. Some sort of Glass Steagull Act needs to be re-instated separating banking activity, because it is totally obscene that your bank account is at risk because of these f**kers. Banks need to be sure that if their greed gets the better of them, then they’re on their own. If they go to the wall then good riddance- investments may go down as well as up!

The trouble is, is that none of the main parties want to do anything like this. They just want to shower these criminals with taxpayer money and let them carry on as before.

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Outcast
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Posted: 27 April 2010 at 17:09 | IP Logged Quote Outcast


Interesting debate Ladies & genelmen

Code:

010010010010011101101101001000000111011001101111011101000110 100101101110011001110010000001010101010010110100100101010000


Translation


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Colgrin
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Posted: 27 April 2010 at 17:32 | IP Logged Quote Colgrin

Good for you outcast.

UKIP can go stick their spoilt over-privleged heads up their arses as far as I'm concerned.

I watched a BBC interview with lord pearson. The guys obviously hadn't even read his own manifesto; he had to admit his plan, about which he admitted ignorance, to get ex-policeman in neighbourhood watch scehemes had been dreamt up without talking about with anyone from the police force.

Oh, yeah he did say that he wants to de-regulate the banking system even more.

Where has he been this last few years? Is he serious?

The guys a moron.

Edited by Colgrin on 27 April 2010 at 17:38


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blip
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Posted: 30 April 2010 at 17:58 | IP Logged Quote blip

nobz said "The fundamentals of the economy have changed and reference to history on this one is misguided although I would agree that banking regulation needs to be much tighter".

The harbingers are telling it like it is. No faffin', with social concern of what it all means for the next generation too. There is no immediate smelly-rose outcome. Belts are going to be tightened, and those that can afford will pay for those that can't. Fact! This is the major equalisation plan as never before. For the first time in history, we have to go left of the left with the Lib Dems to at least try to claw back some sensibility of balanced control. Who would of thought Labour would have deveated so far from their origins, now way past recovery.

A change. A change. Please, a total change! Spring clean the bloody lot of it.



Edited by blip on 30 April 2010 at 18:01


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Outcast
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Posted: 30 April 2010 at 19:44 | IP Logged Quote Outcast

It's only going to take Spain to Hiccup and the  good shit EU will flounder

The question is.. Do we really want to be on that vessel ?


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blip
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Posted: 30 April 2010 at 20:08 | IP Logged Quote blip

O, we are on the vessel, so let's make the best of it we can.

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Outcast
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Posted: 30 April 2010 at 21:04 | IP Logged Quote Outcast


Well we'd better hope a modern day Carpathia isn't four hours away as well.


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