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George Osborne has no idea how to rescue the economy - Will Hutton
Comments
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There must come a point where oil prices make UK coal viable. I have heard that there is enough to run all our power stations for a hundred years or so.
That is my understanding too.
Whether by strategic planning or luck, I favour the latter, Maggie banked that one. Probably one of the better outcomes of her reign."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
You are absolutely wrong. Debt is the problem. This crisis is about debt increasing without a similar increase in cash flow to service that debt.
Spoken like a true debt junkie. This is where your argument fails.
Debt in itself isn't the problem if you can service it and have away of repaying it. Constantly turning over debt for current living expense is not good.
My understanding of RPs post was that if you borrow strategically. for a given programme, such as long term manufacturing where there is a profitable market demand, especially export then that is a creditable use of debt.
Borrowing to build roads to nowhere or support a growing benefit bill is not. Nor to pay for our overseas aid payments (IMO) that another numpty wants enshrined in statute as x% of GDP. Second thoughts maybe that last bit is good in the short term....."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
"George Osborne has no idea how to rescue the economy - Will Hutton"
I think the original title of this article was a better indication of the current predicament:
"George Osborne has no idea how to rescue the economy – but then who has?"
Having read the article, I would say the answer to that question is "not Will Hutton"Nothing is foolproof, as fools are so ingenious!
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The UK has massive reserves of coal, exept it cannot be used due to "green" issues. Seems crazy to me.
Really?
Smog in China
http://www.nytimes.com/2008/11/14/world/14cloud.html
It's just crazy that we don't to live that isn't it? Crazy "greens" lol!What do we do when we fall? We get up, dust ourselves off and start walking in the right direction again. Perhaps when we fall, it is easy to forget there are people along the way who help us stand and walk with us as we get back on track.0 -
Shaggydoo, u sure thats smog?! There all on push bikes and last time i looked they dont have exhausts i think its just cloudy.
We've signed up and set ourselves certain goals on commiting to green energy, the chinese government havent even managed to sort out human rights issues, they may be the most advanced economy but are still playing catch up in a lot of ways, ethics appears to be one of them.0 -
ChiefGrasscutter wrote: »"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!"
Quote from US authour Upton Sinclair 1878-1968
The situation is so simple but evryone complicates it.
In 1971 the world went off the gold standard and this crisis was bound to happen. A return to honest money gold and silver is the only answer.0 -
Flight2quality wrote: »In 1971 the world went off the gold standard and this crisis was bound to happen. A return to honest money gold and silver is the only answer.
It seems so obvious. Why haven't you mentioned this before?0 -
A gift recommendation for Will Hutton devotees!
Britain Should Join the Euro: Essays on the 10th Anniversary of the Launch of the European Single Currency
For the handful of insane people who don't pick up such an opus you can get the original paper for free at: cep.lse.ac.uk/layard/RL334D.pdf."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
Shaggydoo, u sure thats smog?! There all on push bikes and last time i looked they dont have exhausts i think its just cloudy.
We've signed up and set ourselves certain goals on commiting to green energy, the chinese government havent even managed to sort out human rights issues, they may be the most advanced economy but are still playing catch up in a lot of ways, ethics appears to be one of them.
china is not "the most advanced" economy. china does have the second largest economy in the world, but there's nothing remarkably "advanced" about it.0
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