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  • RabbitMad
    • #2
    • 6th Jul 09, 12:20 PM
    • #2
    • 6th Jul 09, 12:20 PM
    I go for a W and I think Brown is following the Mugabee school of Debt management (hyper inflation to remove the debt burden) rather than follow what happened to the Japs.
    • ginger tosser
    • By ginger tosser 7th Jul 09, 7:33 AM
    • 6 Posts
    • 6 Thanks
    ginger tosser
    • #3
    • 7th Jul 09, 7:33 AM
    no chance of recovery
    • #3
    • 7th Jul 09, 7:33 AM
    I don't believe that there is any chance of a recovery to the sort of levels we were at before the downturn quite simply because those levels were financed by debt. Consumer debt, corporate debt and lots and lots of government debt, which is the whole reason for them printing money, so they can pay back their loans, and why they fear deflation because it means the amount that they owe will get bigger in real terms. Deflation for the consumer is generally a good thing - don't believe the nonsense on the news about people holding back on purchases, has anyone ever not bought a new computer because in 6 months time the same specification of machine will be cheaper? Has the introduction of low cost airlines decreased the number of people travelling - I don't think so.
    We are now in a period where the West is starting to realise that we've overspent and taken advantage of cheap labour in the far-east and now they have all our money and have even lent us a fair amount and now its getting to the stage when we are going to have to pay back our loan, and to do that we're going to have to work hard and tighten our belts which is going to be difficult given that we've got used to the easy life. It's a shame the government can't get itself an IVA, lets just hope the bailiffs of the Peoples Republic of China don't come looking for their money back.
    • Flickering Ember
    • By Flickering Ember 7th Jul 09, 10:04 AM
    • 11,730 Posts
    • 128,907 Thanks
    Flickering Ember
    • #4
    • 7th Jul 09, 10:04 AM
    • #4
    • 7th Jul 09, 10:04 AM
    I'm all for optimism but....the jobs situation in Merseyside is terrible...neither my dumbed down CV for places like Primark, nor my normal CV for anywhere half decent, are getting me anywhere and many of the faces I've come to know at my bi-weekly appearance at the job centre are still on the same journey with me.
    Flickering Embers grow higher and higher...I need a break and I wanna be a paperback writer!
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