UK Economics


#1

Regardless of political affiliations and preferred economic theories (hayekian libertarian voluntarism here :stuck_out_tongue: ) I figured there’s room for discussion regarding the economic situation in the UK.

I spotted this article earlier, in The Economist. While Britain’s economy is being touted as having"turned a corner", I suggest that the turd has merely been kicked further down the street by a soft socialist government which has accumulated more national debt in 5 years than the hard red socialist Labour party managed in 13.

When my daughter is old enough I’m going to recommend she gets the hell out of here.


#2

LOL i suspect this thread will get out of control it will get out of control and we will be lucky to live through it.

all that said I am firmly in agreement with you socialism is parasite on any society. Proven through out history to be a failure and that at some point atlas shrugs and the system it resides in collapses.

but here is an interesting question - where will you recommend your daughter goes? currently I cannot recommend the USA, I am thinking maybe Aussie land but who really knows.


#3

Haha, yeah, I figured I was opening a potential can of worms, though it seems no one else has come to join the party, yet :smile:

I was thinking, after I typed that bit about recommending my daughter flee, about where I’d recommend her to go, but as you pointed out…there is pretty much no where that is safe now.

Aussie land is a potentially good option, at the moment, though I can see problems there in the future. New Zealand would have been a good suggestion, but Kim Dotcom proved that their government is as dangerous and corrupt as every other.

Mars One?

What I’m beggining to think is perhaps, this time, I will vote, and I’ll throw my full weight and support behind the socialists, because the sooner this whole system collapses the sooner we find out where, in the recovery period afterwards, is a good place to be. I wouldn’t much fancy going through the bit that comes next though.


#4

All I can say is “Straya”


#5

Inclined to agree, it seems like the best of multiple bad options at this time. If only there weren’t so many things out there that want to kill you and eat you…


#6

Just came across this video, pretty bloody funny, frankly. I don’t agree with the politics of the person who made it, but such creative genius and mockery of the establishment deserves applause :slight_smile:


#7

Germany gets my vote! :smiley:


#8

This video is AWESOME !! That had to take a very long time to produce.


#9

That’s what I thought, politics aside, I can acknowledge great art when I see it :slight_smile:


#10

Well, it seems like an ideal moment to resurrect this topic, following yesterdays political surprise.

I honestly expected we’d see another hung parliament, that there’d have to be compromises made by participating parties, and a general slowing down of the legislative process.

Instead we get a bloody majority government. Typical.

One thing that may work to keep them in check is that, by governing alone, the Tory party will only have a majority of 12, compared to the 40 something majority they enjoyed in coalition, so anything that brings too much heat on the MPs from their constituents has a good chance of being slowed down.

As to what it’ll mean for the economy?

Interesting question. A local pub landlord, clearly a Tory voter, announced within a few hours of waking up that he now felt confident enough i the future of his business to award his staff an inflation busting pay rise. Frankly they deserve it, if only for the fact that they run a good pub and keep the customers coming back to spend more money.

I wonder, what the general sentiment is within the business community? I’m expecting that in stocks and shares we’re going to see several months of relative calm and peace, though I do keep wondering how long the debt mountain can continue to climb before the precipice is reached and the tumble begins.

Guess we’ll have to wait for it to start with our American friends first. How long do you guys reckon the printing presses can keep inflating your money supply before the whole shitshow collapses al la Venezuala, Argentina, et al? Coz that’s roughly how long we’ve got in Britain :slight_smile:

One bright light in this election result is that we are stuck with a chancellor who, regardless of what you think of his politics, or ability to count without using his fingers for that matter, has publicly spoken in favour of Bitcoin, so it’s potentially good news for those of us that have an interest in running Bitcoin based business in the UK.


#11

the USA is a giant complicated thing and wont go down quick or easy. Trying to compare the USA to something like Greece or Venezuela is just not that simple. When the tipping point hits it will go bad in certain places and states while still ok in other places/states. I suppose the first warning signs will be states that are overspending and taxing the hell out of its residents going under/declaring bankruptcy.

Chicago (state of Illinois ) is I think a prime example of spending far beyond their income, constantly increasing taxes on residents and business not to mention the current mania on environmental laws/social justice stuff that is crippling business investment. It has gotten to the point that people and business are leaving the state for states with better tax rates and business friendly environments.

I think it comes down to our elections in 2016 and whether we change streams or not. If the over spend and increasing taxes continue I expect the USA will start showing cracks and the first failed states popping up within the next ten years or so.


#12

Well you’ve already had your first city go pop financially, haven’t you…Detroit was the first ever city authority to declare bankruptcy wasn’t it?

Back to the UK:


As these graphs show, we’re screwed. On an epic scale. It doesn’t matter who won power. Obviously it’ll only be the little guy that gets ■■■■■■ over, the politicians will continue to live large, regardless of what is happening in the rest of the country. That isn’t going to be important to people when this blows up though.

My as yet speculative (one day, I hope it to be true) grandchildren will be living in a world that is very different to the one I’ve known. There is no way that this mess ends well. Had they let the cycles of capitalism occur naturally things would be different.

Still, it’s this which lets me know I’m involved in the right industry right now. Folk are going to be forced to change the way they understand money and value transfer, and I’m going to be perfectly placed to help them when the time comes :slight_smile:


#13

Pretty colours. :smiley:


#14

Just found this article via a feed on fb, thought I’d share.

It’s actually American, but as it’s economics it is worth reading. I often prefer my own thoughts on this subject, but this guy writes well :slight_smile:

http://wti.liberty.me/2015/05/04/paving-the-road-with-good-intentions/