Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
And please don't anybody quote economists, unless they were predicting the crisis 5 years ago, they are utterly discredited
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
the finnish public are fed up with putting their hands in their pockets brian.
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
Yes indeed, David. The pursuit of good news, and the insistence on good news only, is like the beach holiday - complete with Daiquiris on-tap - there is an unquestioned understanding that it will go on like this always.
As with my Granny and her playing Whist for matches, once the victor has all the matches the only way for the game to continue is by match-redistribution. She well knew the folly of imagining an on-going, never ending, supply of new matches and the foolishness too of the old-lag's trick of splitting what matches you have into many (thinner and thinner) matches.
All we men have played park/waste ground football in our youth and will have met the odd stuck-up ball-owner who insists on the game being played to his own (self serving) rules OR he will take his ball home, but even these misguided fools are often driven to face the reality that they need the players more than the players need his particular ball.
Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
The central argument in this book is old hat. Serious economists have often argued that variations in classic money supply (M3) are inadequate to explain price volatility; however back in 1982 David Lomax, who was then chief economist of NatWest bank, wrote an excellent book showing that future price movements were more correlated to M3 plus undrawn credit lines - in fact it wasnt as simple as that, consumer prices tended to follow M3 more closely whereas asset (share, property) prices tended more to follow the credit figures. He also pointed out that it was clear that past asset price changes could be explained by changes in drawings on credit lines, whereas future price changes could be predicted by changes in availability of credit, with an adjustment for the price of such facilities. It is therefore axiomatic that house price inflation can be controlled by restricting the availability of cheap loans.
Sorry to quote an economist David, but he was right, and I did predict the present slump in the summer of 2007, based on the run on Northern Rock and Tony Blair bailing out of No.10. Thats why I laid off all our full time staff in Jan 2008.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
ok howard,i see your point,but i think you posted your answer on the wrong thread.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
not sure how i managed that brian, must remember not to be brahms before 10 am in future.
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
whether it was predicted or not, its happening, and still going on
this govt is realy discredited
ALL POSTS ARE MY OWN PERSONAL VIEWS
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
howard,put more water in it.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Post 21
David, in 2006 I gave the EU 5 months maximum before it would declare bankruptcy, but had been already predicting it on 2002. At the time (2002) I was aware that only through massive money-printing could the system survive an extra 10 years or so.
The actual physical financial collapse came in 2008, and since then it's been down-hill all the way.
What we have now is called a ponzi scheme, also a pyramid scheme. There is no way we can ever put an end to the national debt by conventional ways, neither here nor in Europe.
Not only this, but the interest on the debt is so high, that it (the interest) alone requires more borrowing to pay it off.
Practically the same applies to private debt.
As you rightly point out, any economist who does not see this and admit it, is not an economist.