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@sceptical guy wrote:
@terry wrote:
@sceptical guy wrote:
that’s a really crude view of wealth creation, Terry..
Are you saying it’s conceptually false..?
Yes, it’s too narrow.
Read my post. No modern economy can survive without credit.
I’m no fan of Gordon Brown. His policies were based on teh belief that we had solved all out economic problems, and that the banks should just let rip. He even claimed that the trade cycle no longer existed.
But when the proverbial Brown muck hit the fan, he had the guts to take action, and Bush and all the rest rightly applauded him.
The problems remain. The banking failure, and the mortgage crash, are the immediate problems which led to the crash. The need to avoid those credit crunches is the long-term problem we have to deal with, and nobody has a clue as to how that is going to happen.
btw I have applauded several posts. Sometimes – occasionally – I want to applaud yours. Nothing wrong with it, Tel. Don’t let it throw you, and keep to the ball. Remember the football maxim? Play the ball, not the man (or woman, in Panda’s case).
All businesses survive on profit and the UK is no different.
You say it’s too narrow, but it’s a simplistic and hypothetical example of how business works. You find a customer, you esll to the customer at a profit etc etc.The Chinese economy doesn’t rely on borrowing. They don’t need to borrow although they do afford credit terms to their customers such as the USA for instance. And there was the case recently of China wanting to take the USA to an international court to get the money that was owed.
As for Gordon Brown being some kind of hero, I’d say it was just the opposite. I see things very differently to you. Brown’s management of our finances has always been in question. He tried to borrow this country’s way out of debt. A big mistake.
He deregulated the strict rules that govern banks and the money lending practices that they were bound by. It was Brown’s attempt at increasing the profitability of the Financial Services industry, but it backfired on him. Spectacularly.The American subprime mortgages disaster (the cause of a major international rift, incidentally) was caused by British banks lending money to American citizens who had no chance of paying it back. Brown’s tinkering with bank policy was the root cause of this.
But hey, let’s recognise the “guts” of Bush and Brown. They are a couple of stand-up guys who tried their best. Incompetence is the word I’d use to describe them.
Because, as British banks teetered on the edge and RBS was bailed out, Gordon Brown’s decision to make British taxpayers pay for his mistakes was (according to you) one that took guts and action.
Hardly.
@panda12 wrote:
=D> =D> =D>
Great post, Scep.
Panda, you should cut n paste this as is tends to be a regular post for you.
All you need do is change the name to jen or wordsworth when the occasion rises.@sceptical guy wrote:
that’s a really crude view of wealth creation, Terry..
Are you saying it’s conceptually false..?
@panda12 wrote:
@terry wrote:
Terry, I have never seen you put any valid points forward for any of your arguments.
I’m not going to use this thread to tell you how ridiculous and patronising you posts have become. I’ve done that on a different thread. It’s probably the case that they haven’t “become” that way, but have always been like that to stifle points of view that you don’t adhere to.
What you lack in knowledge you certainly make up for in “brown-nosing”. How often do you sit there sanctimoniously applauding the views of others? You are a psychological dwarf as well you know it.
You say I don’t put any valid points across, but the fact of the matter is that these are threads I’ve started that you feel are worth spoiling. Good for you. Keep posting or evern better, how about starting a thread of your own now and again.
@panda12 wrote:
Ruby, I don’t think your grandson is going to be taught to speak Polish or Latvian..
What an absolutely ridiculous and patronising poster you have become.
@panda12 wrote:
You’re infatuated by Mr Brown.
You, jen and wordsworth have some weird obsession about telling me what I am rather than concentrating your efforts on debating any given subject.
When that happens (as is often the case) I naturally assume that you are struggling to put any valid points across (as is often the case).
Now, in this particular discussion I am putting across that the UK doesn’t have any money of its own and that is why we borrow money. Hence, we are not a wealthy nation.
Our economy might be large (it’s shrinking rapidly), but that in itself is no indication of true wealth.
The USA has the largest economy in the world, but it isn’t the richest country. Its debts are far worse than our own.
Let me give you a hypothetical example of what wealth is about.
The UK has £1,000,000 in the bank.
They manufacture a product and export it to 10 contries.
In one year the profit from each of those countries equals £100,000.
That makes a total of £1,000,000 which is then added to the bank to give £2,000,000That is wealth creation.
It’s the way the Chinese do it. Ours is very different.
Not only do we give our wealth away in the form of foreign aid we also waste it on wars.We’re not a wealthy nation. The question then is how do we become one..?
Ruby says Gordon Brown is not to blame. For anything. Maybe we should give him a knighthood then Ruby?
Gordon Brown was an unelected Prime Minister who caused misery and oppression.
@panda12 wrote:
It depends on what criteria you use to define “wealthy.”
Having an abundant supply of money or possessions of value.
@rubyred wrote:
I mean.. im sorry if this makes me a bigot.. i do not want my grandson speaking Polish nor latvian.. there is no houses here. and dundee children are being refused local schools as the polacks get in there. some wee 5 year olds have to travel miles.
i do not blame folks being unhappy !
Rubes..
wordsworth, jen jen and panda will explain why east Europeans are of benefit to our society.
No, hang on..they couldn’t come up with an answer.
@rogue trader wrote:
tbh seriiously,i walk round the streets,wtf is going on in life,im bothered,bemused,and bereft, ive not got a CLUE whats happening,this thread was inspired by the song of 4 non blondes, if anybody knows whats going on , please reply, but if your like me, and you dont have a scooby do,dont bother replying.
Are you David Cameron in disguise?
