Economics Question

PaulF81

Socialism and the sense of over-entitlement.

pqrdef

nicko33 wrote: »

bureaucracy, red-tape, legislation, human rights, health and safety, socialism, capitalism, China, Tony Blair, BTL landlords...

Got it in one.

Nothing is fixable until the Chinese float their currency and give the rest of the world a chance to make stuff.

StevieJ

howee wrote: »

How about blaming all of us putting everything on the tick and paying for today with tomorrows pay slip?

We can blame banks, the yanks, who ever but the wheels had to come off with the amount of personal debt we all have/had it just happened that the credit crunch saw to that.

Now the parties over and life won't IMHO ever go back to how it was pre bust maybe that's a good thing.

I find it annoying how many blame the banks for giving them too much credit, it's a pathetic excuse you lent you pay it back. I would not blame Morrisons for selling me too much whisky, it's my stupid fault if I drink it in one go!

Less of the everybody, BTW if I was a bank shareholder I would be holding the banks management accountable for dishing out dodgy loans not the opportunists that took advantage

abaxas

Every recession and boom is caused by the same metric. Imbalance in the ratio of loans to saving.

We borrowed too much and saved too little, so we entered a boom then a recession.

Sapphire

Wookster wrote: »

Just curious here as I'm interested to know what people think about the causes of the current recession plaguing (by and large) Western Economies.

1. Greed, and people/institutions being allowed to borrow massive amounts of money, very obviously without the ability to pay it back, i.e. living beyond their means.

There was no encouragement to be prudent and think of the future.

2. Globalization, which has resulted in goods being imported to Britain from the Far East (which is undergoing its own industrial revolution, with all that implies), resulting in a loss of industries/jobs in the U.K.

3. The stupid benefits system, which gives far too much away to those who should not receive benefits, and a huge public sector system with benefits that many private companies in no way enjoy. All at the expense of hardworking taxpayers :mad:

4. Corruption in 'high' places.