<div class='quotetop'>QUOTE (Prestwick @ Dec 23 2008, 11:42 AM)
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<div class='quotetop'>QUOTE (shtove @ Dec 23 2008, 12:03 AM)
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You still reading that rag? There's much better analysis on the web - for free![/b]
Definitely! There are lots of sources out there for free, for example, economist.com
Web "analysis" I would take with a pinch of salt. Always. Take it on board yes, but not follow it slavishly. The Economist always manages to balance views with logic and common sense. Its rational which 90% of most bloggers out there definitely aren't.
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What was it you said about BoE v ECB rates? Even I got it wrong, thinking they'd simply equalise. But you got it soooo wrong it's not funny!
Weak pound = good for exporters + bad for people who eat food + disastrous for a debt based economy with low savings.
I know what you're going to say - inflation will kick in and provide effective debt forgiveness. But that requires wage inflation, which is NOT going to happen. Your faith in Broon & Dalek is funny.[/b]
Obviously, because I got it "soooo wrong" that would make your miscalculation only a minor one. Puh-leez, thats like Gordon Brown saying "huh, look at Iceland, they got it sooo wrong its not funny! We on the other hand were only slightly wrong by forcasting growth for 2009!"
And actually I'm going to say that with the way commodity prices are going, the way the likes of China and India are slowing down and when you take all that into account, I think we're in for a very long and painful ride into deflation and recession.
As Japan, a nation with one of the largest savings reserves in the known Universe has shown, a prolonged recession regardless of the strength of the currency is bad. Period. Its correction, there won't be "debt forgiveness" but a painful correction which will weed out the crap from the economy. Recession is needed and necessary after the indulgences and excesses of a frankly scandalous Labour Government.
My faith is in the UK business to blunder through the hurricane which is probably better placed than your faith in your
do nothing and say nothing European overlords at the ECB and European Commission. Yes, the former sits there and shakes its head, powerless to intervene short of shuffling the interest rate deck chairs on the SS Eurozone and the Commission just sits around, re-hashing existing spending commitments or disguising existing economic stimulus packages by individual nation states as their own. Also, Mr Baroso gets to go on a whole load of new paid for jollies, sitting with various world leaders, nodding his head and occasionally saying the odd "I agree" and "here here!" Pot calling kettle black perhaps?
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I am shocked - shocked! - to find you're a NuLab supporter.[/b]
How exactly you've come to conclude that I'm a supporter of a party who wishes to push Britain further into the EU and towards the Euro is beyond me. Unless of course its because you're just saying that to hide that fact that you actually haven't got a point at all! It all becomes so clear now! :lol:
So, if you want to take that further, just create a new thread. Until then, can you set out how an English Regional Franchise would work?
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I don't like New Labour either (I voted left list last time round) but what is wrong with pushing Britain into the Euro? I'd be delighted if we got the Euro... don't care too much about the economics of it since everything seems to work like a rollercoaster anyway, but it's so much more convenient.
