Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
25 September 2008
19:226606Ireland is the first European country to go into recession. Other countries inside the Euro-zone are also likely to do so (along with us, though thankfully outside the Euro).
There is some speculation starting that this will create a crisis for the Euro. Individual countries have little or no flexibility to adjust their monetary policy to fight the impact of this thanks to the common currency. Some believe it might even be terminal for the currency. I am not so sure about that, but it will be interesting to see how this unfolds.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
25 September 2008
19:286607along with the american problem,who has draged every body down with them.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
25 September 2008
22:086613that has been my main argument about the euro, there is no flexibility when problems occur.
at present the euro is strong against the pound.
sounds good on the face of it.
look closely, and you will find that the exports from eurozone countries are struggling badly, as it means in effect, a price rise for their overseas clients.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
26 September 2008
07:526617Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
26 September 2008
08:166619Hi Brian
Perhaps you could advise how the govt could get 'its act together' and what measures you would introduce that would redeem us from this worldwide crisis.
Marek
I think therefore I am (not a Tory supporter)
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
26 September 2008
08:236620buy cutting ties with the usa and going more globel for starters.
26 September 2008
12:296626Someone is living in cloud cookoo land at what we have to offer!
Name me one leading company that is british anymore! Ok - try looking at who owns the airports, the services, the banks, car manufacturing, Asda, I could go on but you get the drift.
A family member who has spent a lifetime working at Gatwick for BA says that the takeover has resulted in minimum maintenance and maximum sending of profits abroad.
Then some bright spark says we must have nursery education for 2 year olds.... retirement at 60 for women and support for immigrants ... I could go on.
I dont think we either own or control our Country ( sorry whose country? ) anymore and its too late to go back.
I was well into supporting europe when it was 7 countries - now its run amok!
And GB Internation has been given away - how much of GB is actually owned by the middle and far east.. Soon our port no doubt......
Learn Mandarin everyone
D
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
26 September 2008
13:376637So pessimistic David. Never mind there are still many British businesses out there and, guess what, they invest abroad often buying overseas companies... Cheer up....
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
26 September 2008
13:506638i think you will find its arabic in the middle east david.
26 September 2008
15:116641I think I knew that - and some mandarin!
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
26 September 2008
16:386644some french,spanish and flemish and german might come in handy as well.
Guest 675- Registered: 30 Jun 2008
- Posts: 1,610
26 September 2008
16:486646Barry, it is all very well buying companies abroad to produce stuff for us to import but wouldn't it be nice if we were actually making stuff in this country for them to buy? (and I don't mean landmines and guns just to build up their animosity towards us - nothing like a missing limb to encourage a bit of hatred.)
Politics, it seems to me, for years, or all too long, has been concerned with right or left instead of right or wrong.
Richard Armour
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
26 September 2008
16:586648Owning companies overseas provides a source of important foreign earnings Chris.
You dont have to make something to produce wealth. Certainly mass manufacturing is no longer a business model that works in the west the way it used to.
The world changes and it always does. The worse thing you can do is try to hang on to old industries producing goods, trying to compete with cheaper labour producing cheaper (and from experience often better) equivilents abroad. Far better that your economy be allowed to develop and evolve with new industries and new employment opportunites taking over the reins. The alternative is what was tried and failed in the 70's, huge subsidies going into industries that were failing and eventualy reality bites and the bubbles burst.
I recomend an excellent book on this, Free to Choose by Milton Friedman. Its by no means a heavy piece of reading, it covers issues such as this in a very readable way. Its a must for anyone who is really interested in economics or politics.
Guest 675- Registered: 30 Jun 2008
- Posts: 1,610
26 September 2008
17:036651Actualy read that one Barry, but at the end of the day he is promoting the sort of 'money on paper' approach that is doing so well for us at the moment, and costing the USA 700 million to bail out.
Politics, it seems to me, for years, or all too long, has been concerned with right or left instead of right or wrong.
Richard Armour
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
26 September 2008
17:116652thats if its aproved by the law makers.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
26 September 2008
17:366655Chris I will not repeat the explanations for the crisis (its actually multiple crisis, combining). The problem is far more complex than you suggest and to blame the 'money men' is a cheap tabloid headline jibe that deserves a more thoughtful approach. Do read my explanations. You also over simplify and misrepresent what Friedman says.;
