scose-no-doubt
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dunno. the tories tax dispatches i watched the other day was basically inaccurate leftist propaganda. I kinda lost my faith in channel 4's programming, impartiality and independence after they got bailed out. They changed after that IMO. Shame really.
counter_violent
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A decent vid showing just what a firkin mess this country and the west is in.
Radical reform will never happen though. This would have to be voted for by the people and that would involve them having some common sense thoughts.
Never going to happen as the country is full to the brim with dunces.
Mr. Charts
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At least we haven't got mad, bad Gordon Brown and his mob of neo-Communist social(ist) engineers wrecking the country any more.
The current bunch of elitist Tory twits and angst-ridden lying Cleggite lap dogs are only marginally better.
Still a change is as good as a rest.
The current bunch of elitist Tory twits and angst-ridden lying Cleggite lap dogs are only marginally better.
Still a change is as good as a rest.
counter_violent
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It really is the case in this country and others that the tail is wagging the dog.
The govt servants have become the masters.
It will take a revolution now to change things.
This will not happen of course because the state will subdue any kind of uprising.
If the people want their country back, they will have to fight for it !
The govt servants have become the masters.
It will take a revolution now to change things.
This will not happen of course because the state will subdue any kind of uprising.
If the people want their country back, they will have to fight for it !
A catastrophe will do it - and we might be living through one right now..
examples: French revolution; Potato famine; Industrial Revolution; WW1; Great Depression: WW2... and where we are now.
It's too late to go into in now but what I think you will find is that g'ment policy (domestic and foreign) takes a particlular tack (such as the growth of the public sector since ww2) and it gets up a head of steam, then snowballs. It comes a point when putting on the breaks is riskier than hitting the pedal to the metal.
Eventually, though, something happens that changes the world paradigm. Take for example the protectionism that now exists in international trade - bordering on mercantilism.
Nothing lasts forever, after all.
examples: French revolution; Potato famine; Industrial Revolution; WW1; Great Depression: WW2... and where we are now.
It's too late to go into in now but what I think you will find is that g'ment policy (domestic and foreign) takes a particlular tack (such as the growth of the public sector since ww2) and it gets up a head of steam, then snowballs. It comes a point when putting on the breaks is riskier than hitting the pedal to the metal.
Eventually, though, something happens that changes the world paradigm. Take for example the protectionism that now exists in international trade - bordering on mercantilism.
Nothing lasts forever, after all.
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Atilla
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I usually disagree with Allister Heath's articles as we are not on the same wavelength as he trumpets financial supremacy dribble.
This article is on the button imho.
We must adjust to new global order
Friday, 12th November 2010
EDITOR’S LETTER
Allister Heath
ALLISTER HEATH
IT takes time for new realities to sink in, especially in economics and geopolitics. One reason why the G20 meeting in Seoul won’t achieve anything of any real substance is that the old order still believes that it can play by the old rules – and by that I mean primarily the Americans. The Fed’s decision to engage in a fresh round of quantitative easing last week, even though its economy grew by an annualised two per cent in the third quarter, was the last straw for the emerging nations. They are convinced that this is a deliberate ploy to weaken the greenback, inflate away the US?national debt (much of which is held overseas) and boost US exports at the expense of other countries.
There was a time when the rest of the world would merely have lumped it and accepted its fate. No longer. We are now truly in a multi-polar world yet one devoid of a proper roadmap. The US remains the world’s most important superpower but can no longer impose its will either militarily or economically; China is hugely powerful, is starting to throw its weight about but remains a developing country; the same is true, to a lesser degree, of India and Brazil. Europe is in steady relative decline; it remains wealthy and stable but has lost its ability to translate its large GDP into true power and influence. Japan is also in decline, its economy eroded by an ageing population.
Any of these countries or regions can now derail the global economy; America last managed in 2008; there is at least an outside chance that Europe could do the same if its sovereign debt crisis spirals out of control and triggers another financial nightmare. A recession in China would be a disaster for the whole world. Three factors make this situation even more unstable.
The first is that all of the new economic superpowers are flawed, at least in part; all are giants with feet of clay. China is a dictatorship, attempting to construct a new civilisation based on state capitalism; its currency is deliberately under-valued, its consumers don’t spend enough, its central bank is hoarding too many assets and its government desperately attempting to prevent a new bubble. India remains bureaucratic. Brazil has yet to emerge from its regional sphere of influence. The Western economies suffer from excessive national debts, failing welfare states and bankrupt state pension systems; the emerging economies lack a truly trustworthy rule of law and their democracies, in most cases, remain fragile.
The second problem is that there is no proper mechanism for these powers to communicate. The G20 is too unwieldy; the UN is flawed; all the existing global institutions – from the IMF to the WTO – are relics of a previous era. The third, related problem, is that the world continues to use the dollar as its main reserve currency and unit of account, even though it is a paper money that is primarily used by the US to serve its own interests. This relic of the post-Bretton Woods era is no longer sustainable.
Remember when clever-silly pundits used to believe that the euro was about to dethrone the greenback as the world’s currency? Today, with the Eurozone on the verge of break-up, this is self-evidently nonsense. A much more sensible prediction is being made by HSBC’s currency team, which believes that the renminbi could become the dollar’s main rival. We shall see; but don’t expect any real answers from the G20 today.
http://www.cityam.com/news-and-analysis/allister-heath/we-must-adjust-new-global-order
This article is on the button imho.
We must adjust to new global order
Friday, 12th November 2010
EDITOR’S LETTER
Allister Heath
ALLISTER HEATH
IT takes time for new realities to sink in, especially in economics and geopolitics. One reason why the G20 meeting in Seoul won’t achieve anything of any real substance is that the old order still believes that it can play by the old rules – and by that I mean primarily the Americans. The Fed’s decision to engage in a fresh round of quantitative easing last week, even though its economy grew by an annualised two per cent in the third quarter, was the last straw for the emerging nations. They are convinced that this is a deliberate ploy to weaken the greenback, inflate away the US?national debt (much of which is held overseas) and boost US exports at the expense of other countries.
There was a time when the rest of the world would merely have lumped it and accepted its fate. No longer. We are now truly in a multi-polar world yet one devoid of a proper roadmap. The US remains the world’s most important superpower but can no longer impose its will either militarily or economically; China is hugely powerful, is starting to throw its weight about but remains a developing country; the same is true, to a lesser degree, of India and Brazil. Europe is in steady relative decline; it remains wealthy and stable but has lost its ability to translate its large GDP into true power and influence. Japan is also in decline, its economy eroded by an ageing population.
Any of these countries or regions can now derail the global economy; America last managed in 2008; there is at least an outside chance that Europe could do the same if its sovereign debt crisis spirals out of control and triggers another financial nightmare. A recession in China would be a disaster for the whole world. Three factors make this situation even more unstable.
The first is that all of the new economic superpowers are flawed, at least in part; all are giants with feet of clay. China is a dictatorship, attempting to construct a new civilisation based on state capitalism; its currency is deliberately under-valued, its consumers don’t spend enough, its central bank is hoarding too many assets and its government desperately attempting to prevent a new bubble. India remains bureaucratic. Brazil has yet to emerge from its regional sphere of influence. The Western economies suffer from excessive national debts, failing welfare states and bankrupt state pension systems; the emerging economies lack a truly trustworthy rule of law and their democracies, in most cases, remain fragile.
The second problem is that there is no proper mechanism for these powers to communicate. The G20 is too unwieldy; the UN is flawed; all the existing global institutions – from the IMF to the WTO – are relics of a previous era. The third, related problem, is that the world continues to use the dollar as its main reserve currency and unit of account, even though it is a paper money that is primarily used by the US to serve its own interests. This relic of the post-Bretton Woods era is no longer sustainable.
Remember when clever-silly pundits used to believe that the euro was about to dethrone the greenback as the world’s currency? Today, with the Eurozone on the verge of break-up, this is self-evidently nonsense. A much more sensible prediction is being made by HSBC’s currency team, which believes that the renminbi could become the dollar’s main rival. We shall see; but don’t expect any real answers from the G20 today.
http://www.cityam.com/news-and-analysis/allister-heath/we-must-adjust-new-global-order
FX Bandit
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Wow! I actually agree with a lot of that.
It is certainly a crazy world, with in particular the developed nations seemingly determined to ignore unpleasant realities until it's too late to do anything.
The West cannot go on the way it is. One day the bill will have to be paid, and it won't be pretty. For example, see if you can find the projected figures for Greece's public pensions liability by the middle of the current century.
Does 25% of GDP sound good to you?
F***ed doesn't come close to describing the state we're in.
It is certainly a crazy world, with in particular the developed nations seemingly determined to ignore unpleasant realities until it's too late to do anything.
The West cannot go on the way it is. One day the bill will have to be paid, and it won't be pretty. For example, see if you can find the projected figures for Greece's public pensions liability by the middle of the current century.
Does 25% of GDP sound good to you?
F***ed doesn't come close to describing the state we're in.
arabianights
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tldw
counter_violent
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It might be time to start a new party.
How about.....
The Popular Peoples Front of T2W
How about.....
The Popular Peoples Front of T2W
arabianights
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did you know gecko's relatives made forty something million pounds the other day on a vase?
I'm just guessing, but I'm going by semi detached house in pinner. Sounds likely enough
I'm just guessing, but I'm going by semi detached house in pinner. Sounds likely enough
scose-no-doubt
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what does any of that mean? you post sh1t when you're drunk.
FX Bandit
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I sh1t post when I'm drunk. Must stop eating letters.
FX Bandit
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TLDR, surely?
arabianights
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it was moving pictures. do you read them or watch them?
FX Bandit
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Ah! I thought you were referring to Atila's post. My bizzel.
Ambrose Ackroyd
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Bring your own bottle.
You folks think it is bad in the UK.Things are very sad here in the USA as well.
On the trading front leverage on Forex accounts have been slashed by the FTC(Federal Trade Commission) to 20 to 1 on minor and 50 to 1 on major currencies.
Back to the UK....I see Shell is selling my old refinery(I am an expat), I used to work at at Stanlow.Ellesmere Port,WOW!
All the best eveyone from California,
Wwolfgang
On the trading front leverage on Forex accounts have been slashed by the FTC(Federal Trade Commission) to 20 to 1 on minor and 50 to 1 on major currencies.
Back to the UK....I see Shell is selling my old refinery(I am an expat), I used to work at at Stanlow.Ellesmere Port,WOW!
All the best eveyone from California,
Wwolfgang
These clowns making decisions with our money over flawed logic have set in motion the inevitable destruction of a once grand empire. Where ever these mugs earned their phd's and degrees they must have failed the common sense classes. Even now, after the realisation of the depth of the mess, their actions are not even slowing the rate of decay. The question is how long does it continue before the world decides the £ isn't worth the paper its printed on. I know other countries are in the same mess but they being bailed out. Who bails out the UK or even the USA.
Its no longer a matter of if, but rather a matter of when will it all collapse. I hear Zimbabwe are selling specially built wheelbarrows for transporting cash. I just don't understand why non of these so called leaders have the balls to come out and lay it down like it really is. Hmm come to think of it, Spanish would make a great politician.
Its no longer a matter of if, but rather a matter of when will it all collapse. I hear Zimbabwe are selling specially built wheelbarrows for transporting cash. I just don't understand why non of these so called leaders have the balls to come out and lay it down like it really is. Hmm come to think of it, Spanish would make a great politician.
counter_violent
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The sale of Stanlow has been in the pipeline ( scuse the pun )for quite some time. I was working there last year on the spheres ( ultrasonics testing under a nitrogen blanket ). There is deffo something wrong when the only bidders in town are from China and India !
The old order major oil companies have been closing down plants or selling them off for a good number of years now. They are probably ahead of the curve in this respect as the future must be in renewables. Sign of the times i'm afraid. This country is now populated with pen pushing non productive fat lazy good for nothing directionless twerps.
