tag:blogger.com,1999:blog-7820485130017459619.post7050825714060713706..comments2023-10-24T01:46:47.151-07:00Comments on CynicusEconomicus: Defeat is in the Air......Unknownnoreply@blogger.comBlogger68125tag:blogger.com,1999:blog-7820485130017459619.post-55338375733887430722009-05-07T02:52:00.000-07:002009-05-07T02:52:00.000-07:00Just back in the UK after three weeks in the US. ...Just back in the UK after three weeks in the US. Over there I noted two things. First, in the huge outlet malls in California, announcements are now in English and Mandarin. Second, my real estate business friends reported Chinese buyers flying into LAX, spending a few days looking at the market, then typically buying ten repossessed houses en bloc and flying out again leaving them to let under management. The buy-up is beginning at every level, I suspect.<br /><br />Re Derrida, as one who spent ten years as an academic philosopher I cannot resist sticking my oar in: he is indeed an utter clown as Lord K succinctly observes. Did you know he deliberately inserted random meaningless sentences into his 'writings'? Not to imply by this that the deliberately composed ones were meaningful.robertnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-60604160175390394232009-04-23T05:33:00.000-07:002009-04-23T05:33:00.000-07:00Guido seems to have caught on, at least partially,...Guido seems to have caught on, at least partially, and some of the comments seem more informed than I would have suspected.<br /><br />http://www.order-order.com/2009/04/bailout-gordons-14-trillion-fail/Fellbladenoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-40252170307893920702009-04-23T04:51:00.000-07:002009-04-23T04:51:00.000-07:00Steve Tierney said, "I just think, if only we can ...Steve Tierney said, "I just think, if only we can get rid of Gordon Brown and his cronies, there is some chance of recovery in our future."<br /><br />--------<br /><br />And replace the fools them wwho? Please don't say a Tory government!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-8644318292771414402009-04-23T04:49:00.000-07:002009-04-23T04:49:00.000-07:00Anonymous said, "...I've just come across this, Th...Anonymous said, "...I've just come across this, The Roots of Revolution by Reginald Firehammer<br /><br />http://gunnyg.wordpress.com/2007/09/17/all-you-need-to-know-about-cultural-marxism-psychology-sociology-education-humanism-etc/"<br /><br />-----------------<br /><br />My lord, if you think Erich Fromm believed what it says he does, you are sorely mistaken.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-60521480184275509942009-04-21T17:36:00.000-07:002009-04-21T17:36:00.000-07:00"One way or another, the root of economic success ...<I>"One way or another, the root of economic success is about the creation of real wealth"</I>Hi Mark. <br /><br />We have discussed in the past the definition of "wealth" and I don't think it is misrepresenting your views too much if it is summarised as "anything which people are prepared to pay for"..? <br /><br />Have we ever discussed the question of 'vices' in this? <br /><br />The government often takes a view on certain things which people are prepared to pay a lot for, such as gambling and drugs, and restricts or bans them. How does this fit into your views on what is wealth? <br /><br />Unless you advocate a completely laissez faire approach to life then you would, presumably, ban the sale of crack cocaine. How about sales of cigarettes and alcohol to children? How about a super-casino in every town? <br /><br />I'm not trying to get you to admit that you, too, would always advocate some market intervention, but to ask why our 'legitimate' economy is, in principle, any better than the market in the obvious vices. <br /><br />The Adam Smith philosophy is that people are always looking out for their own self-interest, so gambling or drug addiction will be self-limiting, yet instinctively we know that is not the case. Why should people's addiction to fast cars or designer handbags be any different? Is the economy really just built on ordinary people's addiction to things they don't need rather than "wealth"?Lemmingnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-85057500312293713802009-04-21T15:46:00.000-07:002009-04-21T15:46:00.000-07:00Did any of the UK posters here catch this week's D...Did any of the UK posters here catch this week's Dispatches on Channel 4?<br /><br />Called "Crash - How the Banks Went Bust" it was narrated and (I think) written by the journalist Will Hutton.<br /><br />Though most of the issues discussed will be familiar to readers here, Hutton did offer a quite a good narrative to recent events. He also did not mind sticking it to Gordon Brown at evey opportunity!<br /><br />Second part is next week.<br /><br />Info on the programme can be found <A HREF="http://www.channel4.com/programmes/dispatches/articles/crash-making-the-films" REL="nofollow">here. </A> UK viewers can watch it online <A HREF="http://www.channel4.com/programmes/dispatches/catch-up" REL="nofollow"> here. </A>Tiberiushttp://tiberiusleodis.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-78144843662147993122009-04-21T12:01:00.000-07:002009-04-21T12:01:00.000-07:00Mark
Your readers may be interested in this cha...Mark<br /><br /> Your readers may be interested in this chap - Michael Hudson. clearly a chap of the left, but a serious economist.<br /><br />He has popped up a lot on the Renegade Economist (Fred Harrison) pieces on You Tube which you may have seen.<br /><br />Both he and Harrison argue for a land tax reform. A range of his articles are below and, whilst some of the analysis is similar to yours his view of some causes (and solutions naturally) are a little different. Think you might find it challenging and interesting<br /><br />Try this one first...<br /><br />The Financial Sector: "A House Burning Down"<br /> <br />Ben Bernanke’s False Analogy<br /><br />By Prof. Michael Hudson<br /><br />http://michael-hudson.com/Matthttps://www.blogger.com/profile/05619808342670772745noreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-11470552871218757882009-04-21T11:56:00.000-07:002009-04-21T11:56:00.000-07:00Sorry, had to also post. He seems to regard David ...Sorry, had to also post. He seems to regard David Hume as the root of this conspiracy theory. Ha, ha, ha, ha, ha, ha!!!!!<br /><br />Genius.Matthttps://www.blogger.com/profile/05619808342670772745noreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-48522004994660002582009-04-21T11:54:00.000-07:002009-04-21T11:54:00.000-07:00I've just come across this, The Roots of Revolutio...I've just come across this, The Roots of Revolution by Reginald Firehammer<br /><br /> http://gunnyg.wordpress.com/2007/09/17/all-you-need-to-know-about-cultural-marxism-psychology-sociology-education-humanism-etc/<br /><br />...yes and it's about as nonsensical as blog as it's possibel to find on line. It does explain where you got the inspiration for your style however.<br /><br />He just conflates everything he seems to hate - Marxism (which he patently doesn't understand), Environmentalism, Sociology, Atheism, Pscychology in one crazed conspiracy theory.<br /><br />Not interesting at all. Just rather sad.Matthttps://www.blogger.com/profile/05619808342670772745noreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-38695847768461945262009-04-21T11:18:00.000-07:002009-04-21T11:18:00.000-07:00Deflation in UK is official. This is using RPI ho...Deflation in UK is official. This is using RPI however, and the BoE still has to target CPI which is at 2.9%<br /><br />http://www.guardian.co.uk/business/2009/apr/21/deflation-returns-rpi-negative<br /><br />The spin over the interest figures are likely to ramp up again as they want to keep a positive outlook to boost the economy. The difference in the levels and movement of the two indexes is not making things clear on how things are going to play out in the economy as a whole.<br /><br />Taking out the slump in housing, RPIX is at 2.2% So given that the money printing seems to be targeting a deflation that hasn't happened in large areas of the economy (including the index it is officially targeting), what do you think is going to happen to real economy even if the bailouts and debt defaults actually succeeded in their aims and stabilise the financial sector?<br /><br />Lefty FeepAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-74239249841772523152009-04-21T06:51:00.000-07:002009-04-21T06:51:00.000-07:00ChasH:-
>>Can we, as a nation, fight back an...ChasH:-<br />>>Can we, as a nation, fight back and win again that which we have lost? I don't know, but I hope your optimism proves justified.<<<br /><br />You are living proof that we can do exactly that, Chas.<br /><br />You found yourself without motivation, so you went out and got movitated. <br /><br />Some people find it easy to do that. Others need to be shaken out of their malaise by necessity. <br /><br />In the long run, just about everyone benefits from being productive, useful and valued. We can get back to that and when we do we will begin to mend things.<br /><br />@Everyone Else<br />Several people have called me "optimistic" which is funny because generally that's not the way I'm viewed. It's a mark of how incredibly pessimistic people on this blog are that I (of all people) am the optimist! : )<br /><br />I must stress that (and I've said this several times) I share the majority opinion here that we live in very bleak times and those times are not going to get better quickly. My glasses are not rose-tinted. I just think, if only we can get rid of Gordon Brown and his cronies, there is some chance of recovery in our future.<br /><br />My evidence? Our history.Steve Tierneyhttp://www.blog.stevetierney.orgnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-53349645427846033202009-04-20T23:50:00.000-07:002009-04-20T23:50:00.000-07:00If you want to hear more from Franck Biancheri, th...If you want to hear more from Franck Biancheri, the person behind Leap 2020, you could try this hour-long interview with Bonnie Faulkner on KPFA radio's "Guns and Butter" programme:<br /><br />http://www.kpfa.org/archive/id/49464<br /><br />This is his most recent interview, although he has been interviewed on the programme before.Anonymoushttps://www.blogger.com/profile/11979607671826391515noreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-75347929983868974722009-04-20T14:52:00.000-07:002009-04-20T14:52:00.000-07:00CE,
Your post is on YouTube. I also recommend Th...CE,<br /><br />Your post is on YouTube. I also recommend The Modern Mystic's channel for economic stuff.<br /><br />On this particular video has has read your post aloud.<br /><br />The link is:-<br /><br />http://www.youtube.com/watch?v=oY1BRPxv7xM&feature=channel_page<br /><br />RegardsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-20044324744040149802009-04-20T13:04:00.000-07:002009-04-20T13:04:00.000-07:00Steve Tierney, as an instinctive pessimist I enjoy...Steve Tierney, as an instinctive pessimist I enjoy, and feel encouraged by, your positive outlook.<br /><br />I do agree that 'People want to excel. The ways they are able to excel have been taken away from them.' Also it is so true that when 'warmth, shelter, entertainment and food' come too easily the effect is either to 'kill the soul' or push the individual to find other outlets for their energies'. <br /><br />I took early retirement when made redundant a few years ago. After doing much that I had always wanted to do, but never had time, I found the effortless warmth, shelter etc did not satisfy and so I took up working for a charity where I earn much less than I did before.<br /><br />Such opportunities are not easily available, and here lies the rub. The more deprived one's circumstances are the harder it is to escape the soul destroying loss of the chance to excel.<br /><br />For many in the UK it is not just the chance to excel that has been taken away from them but the chance to find genuinely productive employment. With this loss of opportunity comes the loss of hope. Successfully to fight back against this demands great resilience and determination - qualities that are destroyed along with the soul.<br /><br />Can we, as a nation, fight back and win again that which we have lost? I don't know, but I hope your optimism proves justified.ChasHnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-50233219500845279512009-04-20T07:20:00.001-07:002009-04-20T07:20:00.001-07:00In addition to my 20 April 2009 5:50 AM
I've just...In addition to my 20 April 2009 5:50 AM<br /><br />I've just come across this, The Roots of Revolution by Reginald Firehammer<br /><br />http://gunnyg.wordpress.com/2007/09/17/all-you-need-to-know-about-cultural-marxism-psychology-sociology-education-humanism-etc/<br /><br />The article starts.....<br /><br />"In the opening article to this series, ” Marxist Revolution of the West,” I explained that the revolution that has all but destroyed Western civilization, and is in its final stages in every aspect of Western society and culture, though explicitly planned and initiated by avowed Marxists, it was contributions of other individuals, movements, and institutions that made it possible for the revolution to be so spectacularly pulled off. The interrelationships between these various contributors to the revolution is very complex. There are six major threads of influence which I have identified and in terms of which all the complexity of that revolution can be explained.<br /><br />Six Anti-Western Anti-civlizing Threads<br /><br />The six threads are: 1. Cultural Marxism; 2. Post Modernism; 3. Psychology; 4. Sociology; 5. Education; and 6. Humanism."<br /><br />I haven't read very far yet but it looks like it can shed some light to any interested reader.<br /><br />BTW, I should have said postmodern ism is a philosophy rather than an ideology.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-68470226939537998092009-04-20T07:20:00.000-07:002009-04-20T07:20:00.000-07:00@ brownfield said...
The point is simple. America...@ brownfield said...<br /><br />The point is simple. Americans do not mind hard work but feel entitled to success. The idea that we could fail is not even discussed, which makes those failures all the worse.<br /><br />...there probably is a degree of this in the UK too, but I am far more inclined to have a positive view of people's desire to work. Just not sure it works in the de-skilled service economy we live in. <br /><br />I'm sure Mark will forgive me for bringing Marx into the debate ;o) but our education system turns out large numbers of poorly educated people - they can read and count (ish) but can't THINK (and this may be by design). The real opportunities for these people are incredibly limited. I don't know what some of you do for a living but for a lot of poorer people jobs are incredibly mundane - call centre work, fast food, retail to name but three that have boomed in the last 20 years. It's fairly classic alienation - people so seperated from anything meaningful, creative or requiring any skill. It's no great surprise if people would rather not bother. <br /><br />We make work define our lives ("So, what do you do?" being the classic opening to any conversation with someone you've just met)Yet, most people seem dissatisfied with what they spend most of their time doing. Our society preaches material consumption as the only thing that is any measure of success. The obsession with footballers, celebrities and the lottery offering the majority their only possible escape route. And yes, I also have friends who've built up businesses from nothing (before everyone throws their examples in of the neo-liberal's favourite "self-made man") but, by God it's the exception.<br /><br />By the way, anyone who thinks benefits are cushy should try living on job seekers allowance of £60.50 a week. <br /><br />@ Anonymous <br /><br /> <br /><br /><br /><br /> * Cultural Marxism = political correctness, multiculturalism, mass immigration.<br /><br />...sorry, but just putting words on a forum doesn't make them true - is their any logic behind this at all?<br /><br /><br /> White Western civilisation is seen as resistant to the Utopian global multicultural village - Western civ. has gotta go.<br /><br />....this is just rambling nonsense. IF there is a NWO coming (and it's the biggest IF ever) I should think the chances of it being dominated by people who aren't white and western about as likely as people making sense of your post.<br /><br />I think it's far more likely that Western capitalists have got way too greedy and capitalist states have forgotten that one of their key roles was to ensure capitalism didn't eat itself, so that we don't all notice and get very, very angry. Right now they're desperately trying everything to re-start it but the engine's blown and soon there'll be no more fuel.<br /><br />I don't know what's going to happen - I expect we will all pay for this and the rich will try to remove from us all of those 'expensive' rights - crazy things like paid holiday and sick pay, union rights (hell even universal suffrage, who knows)that we fought for for over 150 years on the grounds that we 'can't compete' despite their vast profits. But how we'll then afford to buy the tat that makes them rich I don't know!<br /><br />But the idea that a bunch of lefty multi-culturalists are behind it all would make me laugh out loud if I didn't think fascists will use that kind of rubbish to propogate racism across the West very soon.Matthttps://www.blogger.com/profile/05619808342670772745noreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-19900986645567189862009-04-20T07:09:00.000-07:002009-04-20T07:09:00.000-07:00Cynicus,
re Leap 2020
"Some of their ideas are ...Cynicus,<br /><br />re Leap 2020 <br /><br />"Some of their ideas are very interesting"<br /><br />I agree, and if one goes through their archive, they seem to have been pretty accurate thus far.<br /><br />"if curiously worded"<br /><br />They are French! <br /><br />Allowing sweeping generalisations for a moment, the French language seems to lend itself to a more abstract style of writing that sometimes doesn't translate well into English (especially when discussing economics where we want things as plain-speaking as possible).<br /><br />Factor into this, some quite poor editing of the translations, and<br />yeah, it can be quite annoying to read - but the content seems to be strong.<br /><br />"and therefore I always follow the links to the site." <br /><br />Which are generally to credible sources.<br /><br />Personally, I've been quite impressed by the standard of I've read so far. The only thing that lets them down is that (unlike Cynicus) they are charging $200 Euros for their insights!Tiberiushttp://tiberiusleodis.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-61973646106117828762009-04-20T05:50:00.000-07:002009-04-20T05:50:00.000-07:00Lord Keynes Reply to Anonymous on Postmodernism. ...Lord Keynes Reply to Anonymous on Postmodernism. Are you saying that postmodernism caused the mess or that it predicted it?<br /><br />April 20, 2009 12:19 AM<br /><br />As I have said, neo-Liberalism's no holds barred capitalism (Right) is the response to Postmodern ideology.<br /><br />Which in turn, is in response to Neo-Liberalism's (Left) political social Cultural Marxism. This ideology is now entrenched throughout every government in the West.<br /><br />* Cultural Marxism = political correctness, multiculturalism, mass immigration.<br /><br />Both neo-Liberal capitalism and neo-Liberal cultural Marxism are the two sides of the same postmodern liberal coin.<br /><br />IOW, Unrestrained freedom in the social (cultural Marxism) sphere, and ditto in the political left economic sphere.<br /><br />Please note. Consensual politics rules ok!. The right say (to left) you can have your multicultural dream if we can have our sub prime scam, unrestricted global movement of people and capital.<br /><br />Major objective of both Right and Left - Globalisation (NWO)<br /><br />Logic. Doesn't matter which party you vote for, it's like turkeys voting for Christmas. NWO is done deal.<br /><br />White Western civilisation is seen as resistant to the Utopian global multicultural village - Western civ. has gotta go. <br /><br />The combined assault of these two modern 'isms have Western civilisation by the throat, our civilisation is in survival mode.<br /><br />This is a hurried post I'm afraid, hence a bit rough around the edges.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-44591965211063534312009-04-20T04:10:00.000-07:002009-04-20T04:10:00.000-07:00Sorry, I forgot to mention. Some very interesting ...Sorry, I forgot to mention. Some very interesting posts on China. I found the original article in the FT on the proposal for security for Chinese investment. It is a symptom of the concern of China, and the worries of China regarding the US policies. However, I can not see that it can be implemented in any way. Perhaps, it might be another warning to the US. <br /><br />I note from the link to the GEAB article; Chinese purchase of treasuries are slowing their purchases growth, but not yet slowing purchases overall (perhaps). <br /><br />http://www.leap2020.eu/GEAB-N-34-is-available!-Summer-2009-The-international-monetary-system-s-breakdown-is-underway_a3129.html<br /><br />(sourced from the NY Times)<br /><br />As a note, I often get links from GEAB and have checked the page 'About Us':<br /><br />http://www.leap2020.eu/What-is-GEAB_a188.html<br /><br />You may note that the page tells nothing about who they are. This worries me. For example, I make clear that I am an amateur, and advertise my limitations, in the 'About me' section. I am not sure why GEAB does not do the same. As such, I treat this source with some caution.<br /><br />This is not to say that there is anything wrong with the site, but rather that I would advise some care. Some of their ideas are very interesting, if curiously worded, and therefore I always follow the links to the site. <br /><br />On another subject, I have been trying to find out who is purchasing UK bonds at the moment. As yet, I have found lots of worrying news on the success of the bond auctions, but little on who are still in the market. <br /><br />My concern here is whether the state controlled banks are supporting the auctions.....<br /><br />The DMO does issue this information, but the quarterly review is not due for some time yet. If anyone has different sources, please feel free to post links/information. <br /><br />Note for Steve Tierney: I am pleased to see that you retain your optimism. I can only hope that you are correct. <br /><br />Acrobat_747: I am always happy to have dissenting views. Your comment is appreciated, and I only wish I had time to address your points. As a general point, all comments are published subject to the caveats above, though one commentator has reported two lost comments (reason unknown). <br /><br />General: There are many comments here overall that I would like to respond to, but there are (pleasingly) just too many. Thanks to all for such an excellent contribution. I may return to some of the comments if time allows.Markhttps://www.blogger.com/profile/14983165364072918091noreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-91759704841762539232009-04-20T03:42:00.000-07:002009-04-20T03:42:00.000-07:00As one commentator observes, this post seems to ha...As one commentator observes, this post seems to have touched a nerve. <br /><br />I have watched with great interest as the debate unfolds, and one source of links to the blog noted the high quality of debate in the comments section. For this I am very grateful. <br /><br />The underlying problem with the argument over work ethic is that it is so subjective. We all know hard working people who contradict the view of a poor work ethic, and we can all see examples of those who take advantage of a system of benefits. <br /><br />I sit somewhere in the middle, and my benefits reform tries to meet this middle ground. A safety net is a good thing, but it should not create incentives for abuse. <br /><br />Above all, I see a world in which competition has intensified. <br /><br />We may wish for a kinder and gentler world economy, but the situation we now confront can not be wished away. I gave an example of the hard working Chinese couple. However, even within China I have seen people who are not so motivated. The difference is that there is very little available to carry such people, such that they must make some kind of effort. <br /><br />The other side of this is that the system in China takes no account of simple misfortune, where a person might work hard and, through no fault of their own, fall upon hard times. As such, the Chinese system is not the solution. <br /><br />However, we can not afford to carry those in society that make no effort; those that rely on the work of others with no will/intention to support themselves. <br /><br />This was a luxury that Western society could afford to support. However, I do not believe that this can be supported now. <br /><br />My ideas for reform are aimed at resolving this dilemma. Whether they would work in practice is a matter that can be debated. However, I am convinced that reform is essential, and do not believe that current systems can be sustained.Markhttps://www.blogger.com/profile/14983165364072918091noreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-4083048531796594762009-04-20T02:49:00.000-07:002009-04-20T02:49:00.000-07:00Booming with comments this one, seems to have stru...Booming with comments this one, seems to have struck a nerve.<br /><br />As far as globalization and free-trade is concerned, the mantra and standard economic reasoning basically comes down to comparative advantage.<br />Unfortunately the theory is meaningless as some key assumptions don't hold true in the real world.<br />Things will be produced where it's most effective. If you're a company you will move to the place that offers the best environment.<br /><br />But you don't need free trade to **** up an economy. Look at the tax rates for small business and the incentives set for wealth creation. <br /><br />@Cynicus<br />Wouldn't you say that Japan would have gone through a massive depression would it not have been for government spending? I am dead against government spending as it only artificially keeps the numbers up but that's one point you might add in the future, how by adding debt we're artificially trying to avoid a depression (i.e. 10% decrease in GDP). How can GDP fall if the government keeps on spending with 10%+ budget deficits each year?<br />In that way it's pointless to be glad if Britain's economy contracts by 'only' 3.5% this year, had it not been for government spending it would have been much larger. They're just avoiding the pain now.<br /><br />As far as US/GBP collapse is concerned, both countries gdp/debt ratio still looks okay and the bond market seems to bet on some sort of recovery, the dislocation will take place once the ratio is above 90% with no sight of future clamping down on deficits, so it could still take years for the collapse to happen. Right now it really is just a matter of confidence and timing. There doesn't seem to be any way out, though.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-6706411904181058762009-04-20T02:36:00.000-07:002009-04-20T02:36:00.000-07:00Reply to Sobers 2: 1981-2009: An era of Socialism?...<B>Reply to Sobers 2: 1981-2009: An era of Socialism?</B><I>I think we as a nation have had 50+ years of socialism since WW2, where the ratchet has worked only one way - less self reliance, more State provision and control.</I>Ever since Reagan and Thatcher, the US and other Western countries have had 30 years of <B>deregulation, cuts to welfare, cuts to public spending, privatisation, financial liberalisation, abolition of capital controls, free floating exchange rates, attacks on trade unions and collapse of union membership,</B> and you say we have had 50+ of 'socialism'?<br /><br /><br />In the 1960s, when the welfare state was much more generous than it is now, the average unemployment rate was still much lower than it has been over the past 30 years. <br /><br /><br />So whatever is responsible for higher rates of unemployment and the deindustrialisation of the West since 1980, it certainly isn't the welfare state or a bad 'work ethic'.Lord Keyneshttps://www.blogger.com/profile/06556863604205200159noreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-64363968691835975212009-04-20T01:07:00.000-07:002009-04-20T01:07:00.000-07:00Cynicus,
re China
You might find this interesti...Cynicus,<br /><br />re China<br /><br />You might find <A HREF="http://www.leap2020.eu/GEAB-N-34-is-available!-Summer-2009-The-international-monetary-system-s-breakdown-is-underway_a3129.html" REL="nofollow">this </A> interesting also.Tiberiushttp://tiberiusleodis.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-6017311427506772802009-04-20T00:52:00.001-07:002009-04-20T00:52:00.001-07:00Cynicus,
re "In light of the fact that I have now...Cynicus,<br /><br />re "In light of the fact that I have now (probably) called the collapse of the $US wrongly"<br /><br />You were just a couple of months too early if the folks at <A>Leap2020 </A>are to be believed.Tiberiushttp://tiberiusleodis.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-7820485130017459619.post-48441318950313431572009-04-20T00:52:00.000-07:002009-04-20T00:52:00.000-07:00I cannot speak for the UK but here in the US we do...I cannot speak for the UK but here in the US we do still maintain a work ethic (of sorts). Whereas my Depression-era grandparents worked often back-breaking jobs for nothing more than the days meal, the working class of today seem to expect master's wages for entry-level work. The "entitlement society" is what I generally refer to it as and it does not mean that Americans are against a hard days work-more that they refuse to put that work in for the commensurate wage that work commands. I feel that the best example to date is our election of the first truly "entitlement" president. The Messiah who will spend in extremis while cutting taxes for 95% of the population (or so he says, although math disagrees).<br /><br />The other, almost uniquely western (in my opinion) concept that prosperity has allowed us in earlier times is that we must, by statute, expect each new generation to do far better than the previous generation, in perpetuity. At some point, as in every society from the Roman Republic to the German Democratic Republic, it must cease to be the rule.<br /><br />A great example of this, this sense of uninformed optimism, is a close friend who in 2000 confided in me that he was considering an offer of $20 million for the business he had spent years building up. His optimism, in spite of a changing political climate that jeopardized his many Federal accounts, along with greed and a sense that he somehow deserved to succeed, ruined him within two years as the US Dept of HUD under the newly elected President Bush cancelled nearly every account his company held. I spoke to him less than two weeks ago and he currently lives with his wife and 2 children in an apartment in his mother's basement.<br /><br />The point is simple. Americans do not mind hard work but feel entitled to success. The idea that we could fail is not even discussed, which makes those failures all the worse. And, sadly, when we lose hope we begin looking for a saviour, which is what happened this November past. There is no historical precedence set in the history of mankind that says we must succeed forever because we feel we should. Much tougher times and frightening realizations await both the US and the UK in the near future.brownfieldnoreply@blogger.com