do we need 'economic advisers'?

Loughton_Monkey

TruckerT wrote: »

It ain't necessarily so - it ought to be possible to to ensure that nobody will drown

Wealth is a moveable feast, and long may it remain so - the day it becomes fixed is the day we all have to give up hope of change

Economists eat your hearts out, but please don't ever come up with a sensible explanation of the world...

TruckerT

Nice sentiments, and I agree it ought to be possible...

But I just wonder what it is that will make UK 'rich' [or richer than we are now] again?

As I always say, the fixation upon getting all the money circulating within the UK certainly shakes things up and moves wealth constantly from individual to individual, from individual to state [and vice versa], and from corporation to corporation etc. But just look at the 'leakage'. How much of it ends up abroad? Tens of £billions a year net!

It isn't necessary to be an economist to work it out. Britain is an 'Island'. Money flows in, and money flows out. The dwindling amount that stays in at any one time moves around. If you've made your pile, then fine. If you haven't, you still can, but it becomes more and more difficult.

1984ReturnsForReal_2

1984ReturnsForReal wrote: »

TruckerT


Clue- Sell now or risk it till Monday.

So TruckerT did you take the advice?


That is precisely why some need economic advisors.

Conrad

Loughton_Monkey wrote: »

It isn't necessary to be an economist to work it out. Britain is an 'Island'. Money flows in, and money flows out. The dwindling amount that stays in at any one time moves around. If you've made your pile, then fine. If you haven't, you still can, but it becomes more and more difficult

I thanked your prior post and often enjoy your thoughts, but on this one you've fallen into the same trap as the economists; making predictions.

As several studies have shown, time and again going back many decades we've seen the sentiment you express that ther UK (or the US or Europe) are in inevitable decline.

There were some key well supported theroies and book doing the rounds in the late 80's that claimed only a bafoon could not see that we and the west were definitely going into terminal decline.

Other theories had China going no where anytime soon and Japan as top dog.

History it littered with the sentiment you express above, and so far almost always people have got it wrong.

In 1945, just about all economists said we were in terminal and definite decline forever. Of course the exact opposite happened.
Similarly we have thousands of predictions such as the 1929 'stocks have reached an all time plateau and will never fall' or 'we will reach peak oil and $200 per barrel by 1980, of this I am certain, and America has little time but to act now' (Jimmy Carter 1977 address to the nation) - of course oil soon fell to $33 and stayed there for a long time.


Now according to the theory you are likely to now be thinking 'but this time it's true, any baffoon can see it'.

Trust me, predicting off of current trends is a fools paradise and alomst always wrong.


You might be right, but as I say, we've been told this since the print press began


How many times would you guess we've had the phrase 'the edge of the abyss' in the New York Times since 1924?

5576 separate articles, all predicting Americas inevitable and close demise!!!!!!!!

The main area to keep an eye on is bio engineering incidentally. Will make the IT revoltuion look like childs play.