Government to offer loans to buy cars

StevieJ

Wookster wrote: »

I think people like you, StevieJ & rochdale are completely missing the issue the myself, !!!!!! & Generali have with debt and excessive spending. The first few paragraphs of the article below articulate it very well if you can be bothered to read:

http://cynicuseconomicus.blogspot.com/2008/06/funny-view-of-wealth.html

Verbose in the extreme :eek:

Wookster

StevieJ wrote: »

Verbose in the extreme :eek:

Yup - its long but its worth the read.

Sir_Humphrey

Wookster wrote: »

Well we agree on one thing.

You didn't answer one of the questions above: what sort of stimulus package would you like to see the government introduce?

The key one is massive public sector infrastructure works. We are probably in for a long recession, so the time lag factors are pretty moot.
Paul Krugman gives a good explanation over on the NY Times website.

http://www.nytimes.com/2009/01/26/opinion/26krugman.html?_r=1
He has other articles too, if you have look through his bit of the site (it is not very well laid out). The recent poll that put the Tories ahead shows 85% public support for this policy, so it would also be politically smart too.

StevieJ

Wookster wrote: »

Yup - its long but its worth the read.

I said verbose not long :rolleyes:

wymondham

mardatha wrote: »

Watching bbc news and the Nissan factory in sunderland. Just thinking that if nissan needed money, wouldn't they go to their own banks in japan ??

Not while Gordon is flashing the cash to anyone it seems..

SamIAm_3-2

StevieJ wrote: »

I said verbose not long :rolleyes:

I actually found that quite interesting although a bit too negative.

I readily admit that my knowledge of economics is limited to the extent that I can't even form an opinion on the state of the UK economy yet (i've only just started getting interested in it) but some of the information in the article makes sense to me; especially the parts about manufacturing. I still have no idea what the "real source of wealth" is in the UK economy atm...

Just curious - do you completely disagree with the entire article or only some of the points made in it?

StevieJ

SamIAm wrote: »

I actually found that quite interesting although a bit too negative.

I readily admit that my knowledge of economics is limited to the extent that I can't even form an opinion on the state of the UK economy yet (i've only just started getting interested in it) but some of the information in the article makes sense to me; especially the parts about manufacturing. I still have no idea what the "real source of wealth" is in the UK economy atm...

Just curious - do you completely disagree with the entire article or only some of the points made in it?

The points in the article are in no way new and have been discussed at length many times. Like with any other article you may some points are valid some are not and some are distorted to prove said persons view. The UK, I may add because of the influence of Thatcher has a preponderance of service jobs etc (I think the UK went maunfacturing negative in 1984) but it does not mean that we have no manufacturing in the UK so if the exchange rate remains low and the Global economy recovers we may see a rebalancing of the UK economy. I think the doom and gloom merchants are having a field day, of course you must remember that recessions only come around every blue moon, so you can't blame them having there moment in the sun

SamIAm_3-2

StevieJ wrote: »

The points in the article are in no way new and have been discussed at length many times. Like with any other article you may some points are valid some are not and some are distorted to prove said persons view. The UK, I may add because of the influence of Thatcher has a preponderance of service jobs etc (I think the UK went maunfacturing negative in 1984) but it does not mean that we have no manufacturing in the UK so if the exchange rate remains low and the Global economy recovers we may see a rebalancing of the UK economy. I think the doom and gloom merchants are having a field day, of course you must remember that recessions only come around every blue moon, so you can't blame them having there moment in the sun

You're right - the economy has always been cyclical; there's better times and worse times...

I think the media has had a large part in this and, having friends and family in media, I have always been a bit sceptical about what I read and hear in it. I like to think that the UK economy is not in such a bad state as they would have us believe.

All the "doom and gloom merchants", as you put it, may turn out to be right though - but I really hope not!

Wookster

SamIAm wrote: »

I still have no idea what the "real source of wealth" is in the UK economy atm...

The real source of 'wealth' has been debt that has come through the so called international money markets. This has masked the fact that we don't actually produce much now but sustained the quality of life.

nickj_2

more debt anyone ?