ECONOMISTS!!!! Poor sad fools!! They live in a world as narrow as the space between the profit and loss columns and nothing tangible in this world comes into their purely 'scientific' calculations! Really mr Mcrae! You should get out more, or at least read outside your comfort zone. Unable to find 'a computer model' to tell you that economic theory does not work in the real world. That the only economic growth for the last 30 yrs has been frothed-up debt. And that, my dear mr Mcrae, is all your markets are! Men standing in the worlds money as it sloshes back and forth, skimming off the froth! But as any beer drinker knows, there is no substance to this. You can't get drunk on froth and nor can you eat the gains in the stock markets. The world's economy runs on oil. Our entire food, transport and manufacturing run on fossil fuel. The economic myth that supply and demand will lead to greater supplies of finite substances, or the discovery of new ones is hogwash. Oil is the most energy dense fuel known to man and, try as they may, they have not found a replacement for it. Indeed, what they're forced to dig out of the ground nowadays scarcely deserve to be called oil: Tar, Heavy and Tight oils all require far more energy to extract and to process than conventional, light sweet crude, and so deliver less net energy to the economy. And this is not simply a matter of throwing more money at the problem. This is a harsh reality, a future of declining energy input cannot produce growth in any economy. Every year the world consumes roughly 1,000,000yrs of fossilised solar energy. As output of this now begins an inexorable decline, we can't begin to fill the gap with alternative energy forms. Economic growth and 20century economic theory, was only made possible because of fossil energy. We are entering unchartered territory Mr Mcrae! Your rules don't apply anymore.
Bravo!!
1855 Advertisement for Kier's Rock Oil -
"Hurry, before this wonderful product is depleted from Nature’s laboratory."
The Future's so Bright, I gotta wear Night Vision Goggles...
ECONOMISTS!!!! Poor sad fools!! They live in a world as narrow as the space between the profit and loss columns and nothing tangible in this world comes into their purely 'scientific' calculations! Really mr Mcrae! You should get out more, or at least read outside your comfort zone. Unable to find 'a computer model' to tell you that economic theory does not work in the real world. That the only economic growth for the last 30 yrs has been frothed-up debt. And that, my dear mr Mcrae, is all your markets are! Men standing in the worlds money as it sloshes back and forth, skimming off the froth! But as any beer drinker knows, there is no substance to this. You can't get drunk on froth and nor can you eat the gains in the stock markets. The world's economy runs on oil. Our entire food, transport and manufacturing run on fossil fuel. The economic myth that supply and demand will lead to greater supplies of finite substances, or the discovery of new ones is hogwash. Oil is the most energy dense fuel known to man and, try as they may, they have not found a replacement for it. Indeed, what they're forced to dig out of the ground nowadays scarcely deserve to be called oil: Tar, Heavy and Tight oils all require far more energy to extract and to process than conventional, light sweet crude, and so deliver less net energy to the economy. And this is not simply a matter of throwing more money at the problem. This is a harsh reality, a future of declining energy input cannot produce growth in any economy. Every year the world consumes roughly 1,000,000yrs of fossilised solar energy. As output of this now begins an inexorable decline, we can't begin to fill the gap with alternative energy forms. Economic growth and 20century economic theory, was only made possible because of fossil energy. We are entering unchartered territory Mr Mcrae! Your rules don't apply anymore.
A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools - Douglas Adams.
Because all our shares have gone up in value we are all going to rush out and spend more money. "If" I had any shares that had gone up in value that wouldn't have given me any more money unless I had gone out and sold them. If every one else in my position had gone out and sold them we would presumably have dropped the price of them! We would be happy with lots of cash but the Stock Market would have been depressed.
Not many people own shares; not directly anyway. They may have them in a pension plan but that doesn't mean that they can access them. I've cashed in my pension and now have an annuity but that is fixed and doesn't give me any increase.
The stock market rising or falling doesn't make a jot of difference to the vast majority of us and it's us that have to spend the extra money that none of us have. That's why no one is investing in manufacturing or retail. We're all borrowed to the hilt just like the country is. That is the problem that has to be overcome and also the fact that as we repay our loans the money supply is dropping.
The only way that the money supply is going to increase any time soon is if the government prints some and let the "great unwashed" have some of it. The best way that they can do that is by insulating our homes and building masses of houses to rent. Firstly, it would create hundreds of thousands of new jobs; secondly, it would reduce both our heating costs, house purchase prices and rental payments: thirdly it would reduce the balance of payments deficit for the government by reducing the importation of gas. OK, the rentier class might lose some money but they can afford it whereas the great unwashed can't and they're being hit left right and centre at the moment.
kenneal - lagger wrote:So it's your fault, Candy and Biff, that we're in recession. We'll have to send around the Economic Police to re-educate you both.
Yes. I'm not even earning any money at the mo., to go with not spending it. In fact, if everybody were like me, there wouldn't be an "economy".
