The Economics Discussion Thread

limeyrob wrote: Interest rate down again.   Being a bit thick and naive I can't see the logic behind this notion of spending to get us out of the downturn. If we do spend anything isn't this likely to buy imported products? Where's the sense in that? It isn't going to do much for our own manufacturing industry much good - not that we have much of one anyway - cos it will take time to develop.

I just read that savings rates here in the states are way up and that this is very bad.  People aren't spending but instead saving.  The horror.  When everything is going great, savings are good because there is more money to borrow.  But when things are bad, its vice versa. 

And about imported products, I don't know what or how much the UK exports, but the idea is the establishment selling the goods gets its cut and can keep people working.  Even if it is Chinese (or wherever) goods. 

I think China is in for a rude awakening.  They have been inching up their pricing because people over there are getting a taste of the good life and want better wages.  They have roads and cars and more consumer goods.   Imagine.  They want to be like people in the west and get on the free market bandwagon.  But if their economy goes down and manufacturers have to cut pricing and wages back in order to compete and keep their doors open, it is going to be hard for the workers to go back to the way things were.  You can't unring that bell.  There could be unrest sooner or later.  I'm not saying that the Chinese should not be able to be slobbish consumers like anyone else, I suppose they have as much right as anyone.  But the culture and government being the way they are could spell trouble.  No one is paying them much mind because they have their own problems, but if things go wacky over there, it could get ugly everywhere.

Slartibartfast wrote:

My favourite one yet Slarti. Poor Barney

And yeah, I don't particularly like Cameron, but then again I don't think any of our parties have got it right. Save all that for the Political Thread though please.

N.B. Workers aren't exactly in a good position with Brown either, but I suppose he the lesser of the two weavels. I mean evils.

Edited by Slartibartfast - January 28 2009 at 16:00

http://articles.moneycentral.msn.com/Commentary/ByAuthor/BillFleckenstein.aspx

I read this guy every week.  He has many sobering thoughts about the US economy and is worth a read if you have some time.

This seemed more appropriate here than in the Prog Chefs thread.





Edited by Slartibartfast - December 22 2008 at 13:35

Slartibartfast wrote: Perhaps you might want to try America  (THE BOOK) A Citizen's Guide to Democracy Inaction or Stephen Colbert - I Am America (And So Can You), but if you don't find Moore funny you probably won't like either of those.  Excuse me while I go and put some mayonnaise on some round bacon.

I really don't see many comparisons between Stewart's, Colbert's and Moore's humor, other than that they all hate George Bush.

Edited by Henry Plainview - December 20 2008 at 03:39

some quotes from Michael Moore's only acceptable work, Canadian Bacon (although he wouldn't want people to enjoy it because it is funny, he'd want you to consider some bs larger social meaning):

npjnpj wrote: That's not a Celine Dion photo, it's a H.R.Giger painting

A H.R. Giger painting when he was off his face on paint thinner maybe. I think he probably vommitted on it after seeing it sober.

Back on topic. Are there any Canadians that would like to share some juicey statistics with us? I'd love to know how you people are doing over there

Peter wrote: IVNORD wrote:     Back to the original question... it would be interesting to hear from people from oil producing countries. Countries like Russia, Venezuela, Iran (not much hope of finding a proghead there though). Their revenues fell tremendously, some 70% from peak to trough in 4 months How about Canada? We have the second-largest oil reserves in the world!

two things :

1.  Peter's right, Alex will kick your ass.

2.  Celine Dion is a man.