BOOM!!!! Financial Meltdown!

[EvilBoris]

Greedy big businesses have killed this country by getting China, Mexico & India to do the jobs we used to do for cheaper. They've torn the arse out of our industries & factory work, which also gave good, solid work opportunities even to those who werent so academic & now all thats left is office work & shop work.
Despite what anyone says the quality of these products is definaltey inferior to how they were produced here in the uk.
I read that some factories in China have already started replacing staff with machines which can do the job faster, so there will be a lot of ppl out of work there soon.

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?

[endo]

The chap in the above blog is being a bit disingenuous though. As it states in the CIA world factbook he's quoting from, 'world' external debt is defined as:

$60.47 trillion (31 December 2010 est.)
$61.53 trillion (31 December 2009 est.)
note: this figure is the sum total of all countries' external debt, both public and private

i.e. the 'world' external debt is the sum total of the external debts countries owe to each other, not some mega amount of money the world as a whole owes to some shadowy cabal of unimaginably rich Bond villains living on a island somewhere. Or aliens.
Those figures are showing gross debt too, not net.

He also mentions tax havens and totalitarian regimes have the lowest debt according to that list. True, Liechtenstein appears to have zero external debt, but Switzerland's in for $1.2 trillion, so god knows where he's getting that from. As for the totalitarian regimes bit, well North Korea doesn't appear at all. Hardly surprising since regimes like that don't exactly trade freely with the rest of the world.

[EDDIE M0NS00N]

Anyone see this last night?
No wonder Greece is down the ****pan:



No more UK tax payers money to bail them out please Mr Cameron

[EvilBoris]

The advert for that program made it look like a totally sensationalist "documentary" designed to stimulate and aggravate xenophobes nationwide. I think it's pretty irresponsible that they would make a show what sounds like the video equivalent of a front page story from the sun.

['Press Start']

http://uk.finance.yahoo.com/news/Why-debt-crisis-lead-United-yahoofinanceuk-3666797003.html

United States of Europe the cure to the economic situation? Of course it is!! or rather a pain killer for it, the cure is none other then the crazy conspiracy nuts favourite, One world Government.

I wonder how bad they will make the situation before people embrace a one world government.........

[EvilBoris]

The comments there are brilliant

[Neon Ignition]

The whole US of E thing was the blatant intention with the EU's original forming but will never come to pass as it's completely unworkable. The merging of all the different countries into one body is completely different to that of the various states into America. It's just a silly pipe dream for Eurocrats who have misguided ambitions to be its 'President'. Much more likely the EU will crumble.

[Dogg Thang]

Yep, I agree. That won't stop people trying though and the usual tactic will be applied - OMG we're all d0000med if we don't go for a united Europe! YOU don't want to be the one who d000med us, do you?! Fear. But, as Crazytaxinext says, this is nothing like the US. Our countries are countries with completely different cultures, economies and breakfasts and, if anything, trying to stick them together and making one reliant on another is contributing to this toppling right now.

Stock up on your canned goods and shotguns, guys.

[Guts]

Our countries are countries with completely different cultures, economies

If only someone as wise would have said this before the EU-puppets accepted countries like Greece, Italy and Portugal in the euro. I'm betting that euro is f***ed, Greece is nothing, Italy has a debt of 2,000 BILLION, that's 40% of all the debt of the euro countries. Now the countries that have handled their economics well are supposed to save their dishonest and corrupt asses? This s*it needs to be put to an end, and fast like the sick puppy that it is.

[koopatroopa90]

Since I started studying economics at A level I've always been against the Euro and to a lesser extent, the EU. This was in spite of the fact that we were taught about it in a very pro-EU/Euro way (even last year in my first year of an economics degree).

The fact that when signing up to the Euro countries lose control of their monetary (and a lot of their fiscal) policy is insane given how different each member state is, although I suppose perhaps it only becomes so obvious in times of recession - clearly noone thought about it back when everything was groovy...

['Press Start']

So everyone is of the opinion the Euro heads were short sighted and should have seen this coming? or does anyone else like me think this whole is was engineered to push opinion (using fear) to asking for a global/Euro governance?

[Adrock]

No, I think you're a touch paranoid.

[Dogg Thang]

I think there have been many pushing for a central European government. The EU constitution was clearly designed to lead to that. As for whether this was engineered to push that? I doubt it. If it was, it was a piss poor idea because I see a whole bunch of failing EU countries looking at the other EU countries and thinking - they're dragging us down. I suspect many former EU-supporters are now hoping it breaks apart.

[Guts]

I think there have been many pushing for a central European government. The EU constitution was clearly designed to lead to that.

Yes.

Another thing that no one seems to give a rat's ass about, is the fact that it's in the European Union laws that NO country would be made to answer for another country's debts. Clearly this has been completely ignored (as I'm sure a lot of other things are too). The people who allowed f***ed up debt-ridden countries like Italy, Greece and Portugal into the euro should be sentenced and jailed immediately, but fat chance that that would happen.

['Press Start']

No, I think you're a touch paranoid.

You are right, I tend to veer to the more paranoid of conclusion's. I guess either way we find out soon.