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Yes I'm hearing it.
Printing wads of monopoly money will speed up the process.
A big problem for the U.K economy is being such a big player in the financial services sector ...we have been to reliant on on it.
Being a service based economy instead of a manufacturing one is now going to bite us in the ass big time.
What we do manufacture no one is buying.
Despite all the talk all the other countries will become more and more isolationist ...especially Germany and France which is where the Euro comes under threat of collapse.
One way of avoiding that chaos is to cut the size of the Eu.
We as a nation now have very little to offer the rest of the world.
Technically capitalism doesn't require constant growth but reliance on credit does. If you borrow £5 because you can pay it back in 12 months with £2 interest, you need to be able to use that £5 to create wealth. I agree that capitalism isn't ideal and I've pointed out to my friends many times that our whole system depends on greed and the assumption that people will try to minimise the amount they spend but get the maximum back. An assumption that is questionable. Why do people who 'steal' music call it file sharing? I believe personally it's because people as an evolutionary trait like to share things, like to give things.
Not all the time, granted, but when you take the example of someone who gives OAPs 25% discount on gas call outs in the winter, not because it's a marketing strategy but because they just want to be nice - because they think that pensioners have enough to pay for over winter without having to pay lots for their gas that they need to stay warm - then it starts to call into question the assumptions of capitalism. That people will seek to profit maximise and in doing so ensure the most efficient and effective way of running the economy. Maybe people would prefer to just try and get by. Live a happy life. Try and help their community.
The problem is those who are successful in the capitalist system need to exhibit the profit maximising strategy imo. So when they are calling the shots, they have got to that position not by being nice necessarily but because they were the most determined and most 'greedy' I guess you could say. But that's always been the way, with those who have power and money being the ones who are able to dictate to a degree who has that power and money.
The Chinese and the Russians are both talking about ditching the dollar ...talking about the need for a new global ...GLOBAL ...theres that word again ...currency.
The Chinese are seriously worried that they own so much America debt ...bonds ...that are looking more and more likely to be worthless pices of paper.
More people than ever are suspecting that America is finished as a financiakl player.
Confucius Say : Man who diversifies into tangible assets is poised by the fire exit when stampede begins.
Meanwhile back at the Auction House things are not going to plan.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQGG.mWeZ4eU&refer=worldwide
lol yeah a few more of those and things start to get ugly, tnx (10yr US TSY yield) was up big today as well despite ben cranking up QE over the pond, and has given back most of the gains since the shock announcement last week....looks like the market is calling his bluff and forcing the fed to buy the long end of the curve as well because the 30yr spreads are blowing out, ourobourous anyone? if the 61.8 doesn't hold the shit will hit the fan and they'll have to tank the equity markets again before long.
don't worry, Obama's gonna fix everything don't you watch tv? when the politicians are owned by private interests their only responsibility is to siphon off the rest of the wealth before everyone figures out what they're up to, and they're doing a pretty good job.
Well shovelin money into a bottomless pit aint going to work.
Imagine what good businesses could have done with the billion of tax payers money.
Instead of chucking good money after bad ...they could have been radical and given the money to businesses that were doing well.
The problem is debt?
Lets get in more debt?
By this means government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.” - Lord John Maynard Keynes,