so the dollar keeps falling

[MrL_JaKiri]

Our economy's doing fine; if you hadn't noticed, the NHS is a social problem, not an economic one.

[Bunga]

Doing fine? Ri-ight.

[MrL_JaKiri]

Because the cabinet is shit, and all the decisions are taken by Blair anyway.

[MrL_JaKiri]

Remove the 'professional' political class; 50, 60 years ago people making decisions may have had some grounding in the area. This would have been especially true in the Labour party.

[MrL_JaKiri]

Well, the Labour party once came pretty close duder.

(To the proles, not to revolution)

[Evergreen]

Also isn't Britain also operating within economic criteria set by the EC.

France and Germany are flagrantly trying to ignore it/evade it Kyoto treaty stylee though.

I think Incubus is hypocratic and unknowledgable.

[wu_trax]

Originally Posted by Evergreen

Also isn't Britain also operating within economic criteria set by the EC.

France and Germany are flagrantly trying to ignore it/evade it Kyoto treaty stylee though.

I think Incubus is hypocratic and unknowledgable.

no, you also surpassed the 3%-criteria (which somewhat makes sense, given the current economical conditions world-wide)
before you people try to kill me once again: no, it wasnt all that nice how this was handeled by germany and france. and no, it doesnt exactly make much sense what we spend the money out of our extra-debt for. but still it doesnt make sense to dramatically cut spending if you have low growth and a low inflation. youd only damage the economy and gain nothing.

[Evergreen]

Originally Posted by Toccata & Fugue

Well everyone cheats its just that we don't publicise how we break the rules, but are more than happy to cry foul when its someone else.

Well said.

Let's not forget the massive fines we had to threaten france with cause of their illegal laws to protect their meat industry. (Much worse than bush and the steel thing)

[wu_trax]

Originally Posted by Toccata & Fugue

Sense.

sorry. i alwqays knew i should have paid more attention in school. ( but at least i dont say dept any more )

[Bunga]

Always.

(That was a joke, btw)

[MrL_JaKiri]

I hear that George Bush is opposed to Bunga. Damn Puritanical americans.

I'm sure Peter Tatchell will speak out on its behalf.

[wu_trax]

i finally understand how you got your postcount .

[Zar]

just quickly read a few posts in this thread.

without getting much into the economics of all this.. seems you lot thinking that a fall in the dollar is a bad thing for the world is slightly biased (considering the "world" isnt just the "west")

countries like china will benefit from a fall in dollar prices. that is good for the world -yeh? ... less powerful western economies.

roll on downfall of western economies

i ****ing hate economics. have exams in 2 weeks on stupid stupid stupid stupid stupid stupid economics

Zar

[Baron Morte]

If you are going to make an omellet, you ough to crack some eggs.
Changes requires hardships. If the world is to be a little different that it is now, it means suffering.

/lame speech

[Dante Hicks]

Originally Posted by Zar

countries like china will benefit from a fall in dollar prices.

Because they'll be able to export less?

[Dante Hicks]

Originally Posted by Toccata & Fugue

that may have been becasue the government was paying for my 5 star hotels.

It's tough at the top, eh?

[ChubbyChecker]

Originally Posted by Zar

roll on downfall of western economies

If western economies fall China won't be able to sell to anybody, so bye bye east too.

[Zar]

Originally Posted by ChubbyChecker

If western economies fall China won't be able to sell to anybody, so bye bye east too.

no. what you'll see is a shift of economic balances.

perhaps world "total output" will drop significantly, but economic balances will be moved further east.

Zar

[Evergreen]

I think Zar is trying to tell us to keep our wallets in our right pockets.

[Dante Hicks]

Most development in such countries is of dubious worth (e.g. export industries). Some of it might be convertable into satisfying a domestic market, but some of it is just parasitic crap.

If the UK "collapsed" for example, India will be left with n call-centres. Lucky them.

Zar, do you really feel that an economic shift to the East (combined with a overall downturn) would really improve the lot of the world's poor/opressed? If so, why? What positive trends do you see?

[Zar]

Originally Posted by Dante Hicks

Most development in such countries is of dubious worth (e.g. export industries). Some of it might be convertable into satisfying a domestic market, but some of it is just parasitic crap.

If the UK "collapsed" for example, India will be left with n call-centres. Lucky them.

Zar, do you really feel that an economic shift to the East (combined with a overall downturn) would really improve the lot of the world's poor/opressed? If so, why? What positive trends do you see?

im trolling guys.

geez..ffs whats wrong with you lot these days... you're not even bothering to ignore silly comments.

the fact is - like i said, i have exams in 2 weeks (economics degree 2nd year), and my head has been filled with more economics than i wish to do in my entire life.

thus to my relief - i can pratt about on an economics thread without having to speak much sensical economics.

yay

Zar

[Evergreen]

Originally Posted by Toccata & Fugue

I'm currently teaching my GF economics, I have her reading Models in poltical Economy by Michael Barrett-Brown, one of the best economics books ever written.

Is reading something truly teaching?

[Dante Hicks]

It is if it's followed up by discussion, questioning, etc, yeah.

[Dante Hicks]

Originally Posted by Zar

you're not even bothering to ignore silly comments.

How would you propose we differentiate between your trolling posts, and your stupid but seriously meant posts? They both seem equally, ahem, informed.

Perhaps some sort of tag is in order?

p.s. Don't troll, it's the whole "Boy who cried wolf" thing, people can't take you seriously then. If you just want to be a full-time troll, that's cool, some mod in a bad mood can ban you at an appropriate juncture.

[Evergreen]

Originally Posted by Dante Hicks

It is if it's followed up by discussion, questioning, etc, yeah.

Would you like to see my bedroom?

Did you see the foxhunt today?

That sort?

[Dante Hicks]

Originally Posted by Evergreen

That sort?

If it's relevent, yeah.

[Zar]

Originally Posted by Dante Hicks

How would you propose we differentiate between your trolling posts, and your stupid but seriously meant posts? They both seem equally, ahem, informed.

Perhaps some sort of tag is in order?

p.s. Don't troll, it's the whole "Boy who cried wolf" thing, people can't take you seriously then. If you just want to be a full-time troll, that's cool, some mod in a bad mood can ban you at an appropriate juncture.

i will not take such comments from a hick.

now to respond to your previous post.

Countries such as india and various others in asia are generally self sufficient economies. They are not as subject to shocks as various western economies would be due to an american downturn (for example 25% of india's output is agriculture - which is largely for domestic purposes anyway - hence the importance of a good monsoon)

On the contrary - a downturn in western economies would encourage more or less total exportation (if thats even a word) of BPO call centres to eastern economies to make use of the cheaper labour market until the labour market settled again in the west..

India's big contribution to the west however is the Software market, which just as above, would encourage a major influx of development houses, who see a lack of innovation and costly prices in the USA or Europe.

As for the worlds poor/oppressed, theoretically yes this would improve the situation in these economies, as more "manufacturing jobs" that dont require much education will be shifted east, and also much of the dwindling western white collar labour market will shift east. However theory is not often reality. Dictators and governments who couldnt give a shit about the poor could always hamper progess.

Also im getting annoyed with people who associate the GDP with economic welfare. the GDP is a pathethic indicator of human development. Yes the downfall of western economies would produce a downfall in total world output (temporarily - while resouces are shifted east), but may not result in a decrease of human development, that could be experienced in developing economies.

Zar

[Evergreen]

The IMF are now concerned about the deficit in america



Excessive fiscal deficits in the US could hurt the long-term sustainability of the American and global economies, the International Monetary Fund warned.

IMF Deputy director Charles Collyns, said international investors could also lose confidence in the dollar.

That, he said, could force them to consider investing elsewhere.



Damning and quite possibly more harmful than not raising concerns in the first place.

Somehow I'm curious if they've only resorted to publically denouncing the state of the US' deficits in light of perhaps more subtle warning going unheeded or even ignored/rudely challenged by those in the US goverment who are in the positions where they are contacted/deal with the IMF.

It wouldn't surprise me if the Bush administration forced IMF's hand on their concerns.