Will austerity destroy England?

[Ravi]

The increase in unemployment was driven by a large fall in public sector jobs.

In the three months to June, public sector employment fell by 111,000 whilst private sector jobs grew by only 41,000. In other words the private sector only created 1 job for every 2.7 jobs lost in the public sector.

Crucially the three months to June (that these figures cover) saw the start of the new financial year and the beginnings of real austerity from the government. On these numbers, the government’s cuts agenda is off to a truly awful start.

NOW the cuts are biting

 

[California Girl]

No.

And, here's an idea.... why not try reading intelligent comment instead of ideologically driven crap?

 

[Ravi]

No.

And, here's an idea.... why not try reading intelligent comment instead of ideologically driven crap?

I would if someone intelligent posted in this thread.

 

[California Girl]

No.

And, here's an idea.... why not try reading intelligent comment instead of ideologically driven crap?

I would if someone intelligent posted in this thread.

Honey, I meant from some media like the BBC, Telegraph (right wing), Guardian (left wing), Sky News.... instead of quoting 'false-economy' blogs.

All that is happening in England, along with most of Europe, is that they are trying to recover from a decade of left wing dishonest handling of their economies. They hid unemployment by 'creating' jobs.... unfortunately, they kind of forgot about the economic impact of 'creating' government jobs.... Government jobs drain the public finances.... they do not add money into the economy.

 

[Ravi]

It may be a blog, but the figures are not made up.

Austerity in these times will only make things worse. England is well on the way to more bread riots and I am loathe to see the same thing happen here.

 

[Sallow]

Yeah..I guess England's problems didn't have anything to do with "bailouts".

Bank of England unveils £50bn mortgage bailout - Times Online
£850bn: official cost of the bank bailout - UK Politics, UK - The Independent
BBC NEWS | Business | Northern Rock gets bank bail out
Bank of England governor blames spending cuts on bank bailouts | Business | The Guardian



Yeah..fake jobs alright. Bankers.

 

[California Girl]

It may be a blog, but the figures are not made up.

Austerity in these times will only make things worse. England is well on the way to more bread riots and I am loathe to see the same thing happen here.

More bread riots? They had bread riots? When? WWII?

Austerity is the only way out of this. Sure, it makes things worse... but, since Britain kept its AAA rating, I guess the international economists think it's a good way forward.

Naturally, the government workers will strike... which will be funny, because the private sector workers will feel very little sympathy for them. Government workers have had it their own way for far too long. Their pensions, their perks, are crippling their country. Just like ours!

 

[uscitizen]

No.

And, here's an idea.... why not try reading intelligent comment instead of ideologically driven crap?

I would if someone intelligent posted in this thread.

Honey, I meant from some media like the BBC, Telegraph (right wing), Guardian (left wing), Sky News.... instead of quoting 'false-economy' blogs.

All that is happening in England, along with most of Europe, is that they are trying to recover from a decade of left wing dishonest handling of their economies. They hid unemployment by 'creating' jobs.... unfortunately, they kind of forgot about the economic impact of 'creating' government jobs.... Government jobs drain the public finances.... they do not add money into the economy.

Just swap right for left and you have America as well.
Well mostly right for the last decade or so.

 

[California Girl]

I would if someone intelligent posted in this thread.

Honey, I meant from some media like the BBC, Telegraph (right wing), Guardian (left wing), Sky News.... instead of quoting 'false-economy' blogs.

All that is happening in England, along with most of Europe, is that they are trying to recover from a decade of left wing dishonest handling of their economies. They hid unemployment by 'creating' jobs.... unfortunately, they kind of forgot about the economic impact of 'creating' government jobs.... Government jobs drain the public finances.... they do not add money into the economy.

Just swap right for left and you have America as well.
Well mostly right for the last decade or so.

Yea, ok. Whatever you say.

We could try an honest and reasonable debate about the global economy and it's impact on each country.

 

[8537]

Austerity is the only way out of this. Sure, it makes things worse... but, since Britain kept its AAA rating, I guess the international economists think it's a good way forward.

How did you arrive at that conclusion?

 

[California Girl]

Austerity is the only way out of this. Sure, it makes things worse... but, since Britain kept its AAA rating, I guess the international economists think it's a good way forward.

How did you arrive at that conclusion?

I didn't. The conclusion was provided by Britain keeping it's credit rating, which is more than we managed to achieve.

I tend to avoid partisan bullshit and use logic for my opinions.

 

[idb]

It may be a blog, but the figures are not made up.

Austerity in these times will only make things worse. England is well on the way to more bread riots and I am loathe to see the same thing happen here.

You're probably right...they started with the flat screen tv riots a few weeks back.

 

[uscitizen]

It will all be over next year when a Republican becomes president!

 

[8537]

Austerity is the only way out of this. Sure, it makes things worse... but, since Britain kept its AAA rating, I guess the international economists think it's a good way forward.

How did you arrive at that conclusion?

I didn't. The conclusion was provided by Britain keeping it's credit rating, which is more than we managed to achieve.

I tend to avoid partisan bullshit and use logic for my opinions.

Hold on a second - let me see if I have this right:

We are supposed to interpret the move to "negative" outlook for Britain by a private credit rating firm to mean that "International economists think <austerity> is a good way forward?"

Let's take a look at some other measure of how "international economists" perceive a nation's outlook: The price they'll accept to buy its bonds.

 

[Bern80]

I would if someone intelligent posted in this thread.

Honey, I meant from some media like the BBC, Telegraph (right wing), Guardian (left wing), Sky News.... instead of quoting 'false-economy' blogs.

All that is happening in England, along with most of Europe, is that they are trying to recover from a decade of left wing dishonest handling of their economies. They hid unemployment by 'creating' jobs.... unfortunately, they kind of forgot about the economic impact of 'creating' government jobs.... Government jobs drain the public finances.... they do not add money into the economy.

Just swap right for left and you have America as well.
Well mostly right for the last decade or so.

Partially true. Part of the problem is our right in recent decades have behaved a lot like leftists.

 

[California Girl]

How did you arrive at that conclusion?

I didn't. The conclusion was provided by Britain keeping it's credit rating, which is more than we managed to achieve.

I tend to avoid partisan bullshit and use logic for my opinions.

Hold on a second - let me see if I have this right:

We are supposed to interpret the move to "negative" outlook for Britain by a private credit rating firm to mean that "International economists think <austerity> is a good way forward?"

Let's take a look at some other measure of how "international economists" perceive a nation's outlook: The price they'll accept to buy its bonds.

Since I work all day every day with these guys, I know them quite well. When it comes to global economics, these guys know their shit. A decade ago, these guys were writing articles, and meeting with governments around the world, advising them that we were headed for a major collapse if we did not change tack. Most Governments ignored those warnings, and now look where we are.

The problem, generally, is that most of us look at parts of the situation instead of linking the separate issues together and considering consequences. Internationally, this 'perfect storm' was outlined long ago.... we could have avoided it, but we didn't. Why? Because we are far more interested in 'blaming' this party or that party, or this group, or that group for little parts of a big picture. We need to learn to look bigger, think globally and consider the consequences of unchecked greed.... and we really need to start being honest instead of playing party politics. But we won't.

 

[Moonglow]

No.

And, here's an idea.... why not try reading intelligent comment instead of ideologically driven crap?

I would if someone intelligent posted in this thread.

Honey, I meant from some media like the BBC, Telegraph (right wing), Guardian (left wing), Sky News.... instead of quoting 'false-economy' blogs.

All that is happening in England, along with most of Europe, is that they are trying to recover from a decade of left wing dishonest handling of their economies. They hid unemployment by 'creating' jobs.... unfortunately, they kind of forgot about the economic impact of 'creating' government jobs.... Government jobs drain the public finances.... they do not add money into the economy.

Tony Blair was a left winger, eh?

 

[Bern80]

I didn't. The conclusion was provided by Britain keeping it's credit rating, which is more than we managed to achieve.

I tend to avoid partisan bullshit and use logic for my opinions.

Hold on a second - let me see if I have this right:

We are supposed to interpret the move to "negative" outlook for Britain by a private credit rating firm to mean that "International economists think <austerity> is a good way forward?"

Let's take a look at some other measure of how "international economists" perceive a nation's outlook: The price they'll accept to buy its bonds.

Since I work all day every day with these guys, I know them quite well. When it comes to global economics, these guys know their shit. A decade ago, these guys were writing articles, and meeting with governments around the world, advising them that we were headed for a major collapse if we did not change tack. Most Governments ignored those warnings, and now look where we are.

The problem, generally, is that most of us look at parts of the situation instead of linking the separate issues together and considering consequences. Internationally, this 'perfect storm' was outlined long ago.... we could have avoided it, but we didn't. Why? Because we are far more interested in 'blaming' this party or that party, or this group, or that group for little parts of a big picture. We need to learn to look bigger, think globally and consider the consequences of unchecked greed.... and we really need to start being honest instead of playing party politics. But we won't.

I'm not seeing the disconnect either, to be honest. If your government has become so large. Too the point a country has determined that it needs to shrink for the better of the country, it should be fairly common sense that a lot of people are going to lose their cushy government jobs. Shrinking government is obviously going to create at least a temporary increase in unemployment and a longer unemployment rate if said laid off workers don't adap and assimilate into the private sector.

 

[Bern80]

I would if someone intelligent posted in this thread.

Honey, I meant from some media like the BBC, Telegraph (right wing), Guardian (left wing), Sky News.... instead of quoting 'false-economy' blogs.

All that is happening in England, along with most of Europe, is that they are trying to recover from a decade of left wing dishonest handling of their economies. They hid unemployment by 'creating' jobs.... unfortunately, they kind of forgot about the economic impact of 'creating' government jobs.... Government jobs drain the public finances.... they do not add money into the economy.

Tony Blair was a left winger, eh?

Could we attempt a little intellectual integrity this morning, please? Europe or even the U.K.'s economic problems didn't start with Blair's term in office. And he, as with the leader of any government with a governing body, does not always get the final say.

 

[8537]

I didn't. The conclusion was provided by Britain keeping it's credit rating, which is more than we managed to achieve.

I tend to avoid partisan bullshit and use logic for my opinions.

Hold on a second - let me see if I have this right:

We are supposed to interpret the move to "negative" outlook for Britain by a private credit rating firm to mean that "International economists think <austerity> is a good way forward?"

Let's take a look at some other measure of how "international economists" perceive a nation's outlook: The price they'll accept to buy its bonds.

Since I work all day every day with these guys, I know them quite well.

Which guys? S&P? I'm not sure why you'd trust a handful of S&P analysts without skin in the game vs. the millions of people investing trillions of their own money.

The problem, generally, is that most of us look at parts of the situation instead of linking the separate issues together and considering consequences. Internationally, this 'perfect storm' was outlined long ago.... we could have avoided it, but we didn't. Why? Because we are far more interested in 'blaming' this party or that party, or this group, or that group for little parts of a big picture. We need to learn to look bigger, think globally and consider the consequences of unchecked greed.... and we really need to start being honest instead of playing party politics. But we won't.

What is this "problem" you are referring to? I agree re: unchecked greed - and that's part of what the regulatory environment is meant to protect against, except it was dismantled.