No New Stimulus? (ft)

Rochdale_Pioneers

You don't think that a "Global Stimulus" might mean other countries? Germany had already said no to more cash as (a) they have already spent 4% of GDP and (b) they know that as lender of last resort for the EU they may need to bail out half of the EU. Us saying no more having spend 2.5% may also be right.

Its other countries that America and Britain are saying need to do more - France for example.

A._Badger

Did Rochdale ever answer the question about whether he's employed to shill for Labour?

I can't seem to find his response.

Edale

ad9898 wrote: »

Here is some of it, I warn you this is his most communatative bit.:D

http://www.youtube.com/watch?v=1CYMibGTlCA

George Bush would be proud of this performance.

ad9898_3

Rochdale_Pioneers wrote: »

You don't think that a "Global Stimulus" might mean other countries? Germany had already said no to more cash as (a) they have already spent 4% of GDP and (b) they know that as lender of last resort for the EU they may need to bail out half of the EU. Us saying no more having spend 2.5% may also be right.

Its other countries that America and Britain are saying need to do more - France for example.

Just because others are doing it, doesn't mean it's right. This seems to be Brown's 'sheep' like argument, 'I'm not wrong because America is doing it', yet a few months ago all this was America's fault.:rolleyes:

America 'can' do what they want, th $ is the reserve currency, the £ on the other will be toilet paper at this rate.

Wookster

ad9898 wrote: »

America 'can' do what they want, th $ is the reserve currency, the £ on the other will be toilet paper at this rate.

That is going to be severely tested in this crisis.

One of my big worries is the enormous trade imbalances that have developed and how they unwind.

Generali

A._Badger wrote: »

Did Rochdale ever answer the question about whether he's employed to shill for Labour?

I can't seem to find his response.

He says he's a lapsed Labour Party member so no long has any affiliation with the party.

Wookster wrote: »

That is going to be severely tested in this crisis.

One of my big worries is the enormous trade imbalances that have developed and how they unwind.

My guess is that consumption in the UK and US has some way to fall and that is going to be a painful process as it'll be forced to happen by declining exchange rates.

Rochdale_Pioneers

A._Badger wrote: »

Did Rochdale ever answer the question about whether he's employed to shill for Labour?

I can't seem to find his response.

I don't think my party has enough cash to pay me or anyone else to "shill" for them. If the best they could come up with as an online agitator is Prescott you really think they can afford to employ people to propogate forums with the official word?

Wookster

Generali wrote: »

My guess is that consumption in the UK and US has some way to fall and that is going to be a painful process as it'll be forced to happen by declining exchange rates.

I'm sure you're right. The UK needs to consume less, produce more and save more, China needs to consume more and save less. Maybe this failed gilt sale is a precursor to the start of a fast realignment of exchange rates though the Chinese are hell bent on maintaining a cheap RNB.

I'm getting a tinge of de javu here, have we talked about this before?

chucky

Wookster wrote: »

I'm sure you're right. The UK needs to consume less, produce more and save more, China needs to consume more and save less. Maybe this failed gilt sale is a precursor to the start of a fast realignment of exchange rates though the Chinese are hell bent on maintaining a cheap RNB.

maybe not, update on the Gilt auction
http://www.guardian.co.uk/business/2009/mar/26/gilt-sale-succeeds
"Gilt auction three times oversubscribed a day after first failure of bond sale in seven years"

Rochdale_Pioneers

Indeed - not only does our failure yesterday look like a blip, but then I hear about how germany has fared - 2 failures this year alone, 8 failures last year - all without anyone catastrophising things and claiming that "the markets have spoken".

Do "the markets" - if indeed they can be assigned group behaviour - have the slightest idea what they are doing? If they do why is it then that our currency and everyone else's currencies keep pogoing up and down as "the markets" stampede around looking for a non-existant safe haven?