Britain's Trillion Pound Horror

[Gluestick]

[quote user="Théière"]And the Chinese have lots of lovely money, when you go to buy manufactured goods there is that little sticker on the bottom "Made in China" The paper pushers who have killed off so much of our production have really got us into this mess. With all the high level economists sitting on their fat arses, how could they possibly have got into this mess?[/quote]

Quite a few years back I was enjoying a beer with a close friend, an early retired physicist, ex Atomic Weapons research: a brilliant mathematician and a very astute man.

We were trying to define economics in terms of science: as a pure scientist he was unforgiving: we eventually agreed that science would, in the modern manner be divided into Real-Science: Quasi-Science: Soft-Science: and finally Non-Science.

Economics, we concluded was clearly Non-Science, or more appositely, Nonsense!

[:)]

[crossy67]

As I have said before not sure if it was here or somewhere else.

We are the creators of our own demise.  I can honestly see the UK being deeply in the sh1t, deeper than a Chillian minor in a deep sleep in the deep freeze. 

We love all the junk we buy to fill our garages with (after all, how much junk do we use or really need) and most of all we love it because it's cheap.  It's cheap because its' from China.  We have no care where it comes from so long as it's cheap, we don't care if it is helping UK workforce earn a living, a living that could be spent here in the uk.  We have little concern of the quality, so long as it's cheap, we don't care where it comes from or where our money is going.  Made in China stickers are easy peel for those really that bothered, and I don't think there are many that are any more. 

We have almost no manufacturing and an insatiable apatite for cheap junk, our money is on a one way trip.  We are an ebay culture where the cheapest is the market value regardless of true value.

I am nowhere near as clued up as some of the members here, I am no economist but I do see the value along with the quality of almost everything dropping like a stone and I do wonder what will happen when we have no more money left to ship over to China.

[Théière]

[quote user="Gluestick"]
We were trying to define economics in terms of science: as a pure scientist he was unforgiving: we eventually agreed that science would, in the modern manner be divided into Real-Science: Quasi-Science: Soft-Science: and finally Non-Science.

Economics, we concluded was clearly Non-Science, or more appositely, Nonsense!

[:)]
[/quote]

Quite right Gluey, if economics was a science then the economist could demonstrate their theories inversely as science experiments must do to prove themselves. So the economist should be able to create enormous wealth as the inverse of the crap we are in now..................................just waiting [Www]....................................................................................

[Alan Zoff]

It seems we ran out of money to ship over to China a long time ago so we borrowed their money and sent them that instead. Which is a nice trick until someone calls time on the deception.

[Gluestick]

Absolutely, Alan.

Britain has been in Balance of Trade Deficit consistently since 1998: and it is becoming far worse again.

The trend since 2005/6 upkicked for a while, but is now heading South once more......

See here:

(Tip: play around with the start and finish dates to see overall trends: interesting and worrying too!)

[Alan Zoff]

Here's a view from someone who is selling something so clearly has a vested interest but he is making valid points all the same:

http://www.citywire.co.uk/wealth-manager/watch-out-when-the-life-support-is-turned-off-warns-philip-gibbs/a449354

(I can't seem to make a link so you might need to cut and paste into browser)