BOOM!!!! Financial Meltdown!

[EDDIE M0NS00N]

It's just a product of our capitalist society and a country where wages are forced at a specific cost in line with the cost of living. You think that you'd be able to afford all the products if they costs 6 times the amount to produce because of the wage requirement in the UK being so much higher?

I think your 6 times higher cost is very over exhagerrated & I dont understand what you're trying to say tbh. If the products were produced in our own country then they would be of better quality, therefore the need to make them cheaper wouldnt be an issue as they'd last longer. Nobody wants to have to keep buying products over & over, but due to big business's telling us that they're doing us all such a big favour by bringing us the same quality of product (which is complete bollox) & passing the saving onto the customer (whilst pocketing an even bigger profit than before) people think they're getting a bargain, until they have to throw it away 6 months later

Products made locally have also proved not to be that more expensive or can even be made at the same price when you take in the fact that carbon emissions are lower & transport is kept at a shorter distance, thus saving on fuel costs. Local business also helps boost the economy due to people actually having jobs instead of just getting by by the bones of their arses or using benefits to pay for things.

Anyway, it looks as tho China & India will be calling the shots soon enough & demanding a higher payout for all our lost work, & maybe eventually big businesses will realise that they made a big mistake & hopefully move production back to their local areas.

[averybluemonkey]

In this day and age you don't need physical production facilities to bring foreign revenue into the country. White collar work has heavily replaced industry as a serious form of generating income from abroad, and, unlike manufacturing is not so easily reproduced in developing countries. We have entire companies who profit entirely on selling intellectual property to foreign companies, allowing their licensees to handle the manufacturing angle.

Regarding the quality being better in this country this is entirely dependant on how much the companies choose to invest, I can attest to a couple of companies' products where the quality has really improved since they shut their UK plants and moved production out to China. I'm presuming it's because the saving in labour costs has allowed them to invest more in R&D and machining.

[Lebowski]

Anyway, it looks as tho China & India will be calling the shots soon enough & demanding a higher payout for all our lost work, & maybe eventually big businesses will realise that they made a big mistake & hopefully move production back to their local areas.

China and india's manifacturing economy is based on supplying europe and america with products, we are there customers if we go broke so do they, theres no way they would need such a big manifacturing base if they dident supply europe and america.

['Press Start']

[EDDIE M0NS00N]

And who was it that said you were paranoid?
What a coincidence eh? The euro debt crisis controlled by a huge US power. I wonder why?
Primeministers elected by who? Not the people thats for sure. Debts falsified?

Time to leave the euro for good I think. Its not our responsibility to bail out other countries who are loose with their money & lie about their debt situation.
The UK worked fine with europe when we joined the common market. I cant see why we couldnt go back to the way it was & still have the same trade with europe.

[EvilBoris]

Time to leave the euro for good I think. Its not our responsibility to bail out other countries who are loose with their money & lie about their debt situation.
The UK worked fine with europe when we joined the common market. I cant see why we couldnt go back to the way it was & still have the same trade with europe.

How can we keep trade the same with Europe by leaving the EU when there are probably thousands of different financial benefits we have as being part of the EU?
Also how are we going to continue to trade with countries like Greece and Italy when they are in severe finial trouble themselves?

If the sole reason we are in recession was because we are part on the EU then the US and ll the non EU countries wouldn't be as ****ed up as they currently are.

It's when I read things like this that I'm glad we don't put everything to a public vote, letting people who don't really know anything about the intricacies of what is happening make the decisions.

[averybluemonkey]

It's when I read things like this that I'm glad we don't put everything to a public vote, letting people who don't really know anything about the intricacies of what is happening make the decisions.

Couldn't agree more with this.

[EDDIE M0NS00N]

How can we keep trade the same with Europe by leaving the EU when there are probably thousands of different financial benefits we have as being part of the EU?
Also how are we going to continue to trade with countries like Greece and Italy when they are in severe finial trouble themselves?

If the sole reason we are in recession was because we are part on the EU then the US and ll the non EU countries wouldn't be as ****ed up as they currently are.

It's when I read things like this that I'm glad we don't put everything to a public vote, letting people who don't really know anything about the intricacies of what is happening make the decisions.

I said leave the euro currency I didnt say leave the EU. I said drop back to the agreement we had with Europe before, which was the common market, which still allowed us to trade perfectly fine with europe without having to get as deeply involved as we do now, including law. I have no probs with EU trade.

The euro was a big mistake. Too many countries with different ideals & ways of doing things, inc running their governments, & I dont mean in a bad way, just a different way. Ireland goes down, Portugal goes down, Greece goes down twice, & now possibly Italy. Why should other EU countries bail them out if they cannot run their finances properly?
Poland (which is where my missus is from btw) has stayed out of adopting the euro & kept its national currency, obviously due to being pensive about joining. I hope that the UK also keeps its national currency, & I also hope that the government does (someday prob never ) finally give the people of this country the vote on if we should join or not. We do live in a democracy afterall.

From your past comments it seems as tho you've constructed a picture of me reading gutter press articles & have no brain or am some ignorant nationalist skinhead draped in the Union Jack with tatoos (well the skinhead part is right anyway ), but this is MY opinion based on what I have seen & has developed over the yrs. What has made YOU an expert in this department? What gives YOU the right to belittle my comments?

[EvilBoris]

Exactly, I'm not an expert in this department, in fact I know nothing about economics, but I know the people who are making the decisions do ,so I don't make any comments about it as I'm just as illinformed as everyone else.

But from what I understand the reason the other countries are 'bailing out' the other countries, because it is in those other countries long term financial interests that they do.
Besides, it would be nice if other countries were to help us out should it happen to us.

My comments weren't meant to single you out, you have expressed a certain attitude towards the issues that I disagree with, I'd of disagreed if it had of been anybody.

['Press Start']

-Give me control of a nation's money and I care not who makes her laws.
Mayer Amschel Rothschild

[Adrock]

Barroso, the EU dude who is currently chairing a lot of the meeting or at least was in the recent past, reckons the treaties which make up the EU suggest that joining the Euro is a goal that EVERY country must work towards as being part of the EU. Two countries who have specific opt outs to this in the Maastricht treaty are the UK and Denmark, if the Euro had been a resounding success then the pressure would have eventually fallen on those two countries to fall into line with the rest of the EU.

As is, it is looking more likely as the markets play havoc with Euro members interest rates on lending that the Eurozone will either have to become increasingly integrated or break up.

Also, evilboris, I'm not entirely sure I agree the long term interest is exactly what countries like Germany and France are looking into right now. The Euro as a currency was designed in such a fashion that no country is allowed to leave. Legally, as far as I'm aware, any country looking to leave the Euro must also leave the EU at the same time. The idea was that the Euro was permanent, a lot of people have speculated on how to make the 'failure' of the Euro as painless as possible but the treaties make it difficult.

A lot is hanging in the balance right now and Europe as a whole could be in trouble if another credit crunch rears its head. Its certainly an interesting time, because clearly the markets aren't happy with Eurozone debt. Question is though, are the markets creating the furore or does there need to be a big adjustment from the Eurozone countries.

[charlesr]

There's nothing really new here. After prosperity comes recession and after recession comes prosperity. However the cycle is so long that people don't learn from the previous time.

[beecee]

There's nothing really new here. After prosperity comes recession and after recession comes prosperity. However the cycle is so long that people don't learn from the previous time.

And the recessions are getting closer together, and lasting longer... till it will be just one everlasting recession. then its BOOM!

[Dogg Thang]

There are some economists disagreeing with that, calling it not a recession but a full-on collapse of outdated institutions. Most of the economic systems and beliefs were constructed for the industrial age, a much larger abundant world of factories and production. That world still exists but not in most western countries.

As for the people making the decisions knowing about economics, I think Boris is giving them altogether too much credit. Because, if that's true, then this situation can only have arisen from a series of deliberate acts. If we remove my tin foil hat and take it that this was not orchestrated, which must be more likely, then the idea that the decision makers know about economics falls out the window because they allowed this to happen and just about every measure implemented so far to repair it has failed.

[FelixofMars]

I agree with this, its clear that this is a case where the systems designed are no longer fit for our society. I don't think its helped that there is corruption within governments and that they have looked the other way when big business has dodged things like tax especially when the individuals are chased down for every penny they earn.

I think its hard to specifically say there is one action that is causing this, just a number of things that are outdated or not being implemented properly so if its either purposeful or lazyness it's damaging.

There are some economists disagreeing with that, calling it not a recession but a full-on collapse of outdated institutions. Most of the economic systems and beliefs were constructed for the industrial age, a much larger abundant world of factories and production. That world still exists but not in most western countries.

As for the people making the decisions knowing about economics, I think Boris is giving them altogether too much credit. Because, if that's true, then this situation can only have arisen from a series of deliberate acts. If we remove my tin foil hat and take it that this was not orchestrated, which must be more likely, then the idea that the decision makers know about economics falls out the window because they allowed this to happen and just about every measure implemented so far to repair it has failed.