Time is running out

RAENORTH · **Posted:** Wed Oct 19, 2011 7:46 am

There is an element here of Mervyn King covering his back, but nonetheless his warning is clear. Britain is at risk from a fundamental crisis, he says, and governments have not yet addressed the underlying problem of overspending that was at its root.

I don't know how many more times that is going to have to be pointed out, or how many more times we have to say that, despite the BBC rhetoric on "cuts", public expenditure (and the national debt) is increasing.

View full article here

Stuart · **Posted:** Wed Oct 19, 2011 8:06 am

I was only thinking the other day that we are still having these stupid cycle routes built. Some pavements are very uneven and need re-surfacing yet they will be over riden by more important cycle routes. Simply, all local authority work that is not vital or critical should be cancelled. All civil servants should have the choice of turning their pensions into 100% self-contributory or face redundancy and replacement. I get nothing for my private pension and it is pants. I, unlike the police, will not be able to retire at 55 on a decent pension.

John Page · **Joined:** Tue Nov 22, 2005 3:05 pm **Posts:** 489

Of course the offensive conspicuous consumption in the state sector is a pimple in quantitative terms. But it would be much more plausible that "we are all in this together" if some conspicuous offenders were sacked with publicity.

It would also encourage the others to tone it down - which would save a little money.

RAENORTH · **Posted:** Wed Oct 19, 2011 8:29 am

John Page wrote:

Of course the offensive conspicuous consumption in the state sector is a pimple in quantitative terms. But it would be much more plausible that "we are all in this together" if some conspicuous offenders were sacked with publicity.

It would also encourage the others to tone it down - which would save a little money.

I'm not altogether sure "conspicuous consumption" it is a pimple ... local authority management teams and enhanced payments to cabinet members, for instance, probably account for over £300 million annually. You don't have to have very many of those chunks and you are into billions. But I entirely agree with your premises ... a few conspicuous sackings would do wonders for national morale and resolve.

Ravenscar · **Joined:** Sat Oct 23, 2010 3:12 pm **Posts:** 1441

I am cribbing here but this is well worth reading [imvho], in a few words it encapsulates succinctly our whole problem and I hope the author will not mind my posting it here [thank you Antisthenes PDT_Armataz_01_34

]:

Quote:

Antisthenes
Posted October 19, 2011 at 7:39 am | Permalink

When you mess with the natural laws of economics to fit in with ideologies which governments mostly of the politically left persuasion frequently do then the unintended consequences can be horrific. First capitalism and free enterprise was assailed with draconian regulations and forced to put social projects before profit. That made doing business only possible for the largest and richest so we ended up with corporatism, nobody likes it and wrongly accuses capitalism of being the culprit. Then we decided to put social projects before good economic governance and we have ended up with a debased society that is incompetent, corrupt and incapable of competing in the world around us. Inflation is just the natural forces of economics trying to re-balance the economic order. Unless the government makes even greater efforts to govern according the laws of economics then inflation will continue to spiral and other nasty things will kick in as well, eventually leading to state bankruptcy.

From Redwood's blog under the title of: "High inflation undermines growth"
By johnredwood | Published: October 19, 2011

Incidentally, Mr. Redwood carefully steers around the 'green energy question' uninspiringly - he cannot admit that his party's 'green' policy is madness in actual words.

briansj · **Joined:** Sat Jun 16, 2007 8:27 am **Posts:** 77

Peter Schiff on bubbles: http://mises.org/daily/3493 the text is quite compelling on life inside a bubble, and its resistance to commonsense.

Also on not paying debts: http://dailybail.com/home/peter-schiff- ... hines.html

gareth · **Joined:** Wed Jul 23, 2008 12:59 pm **Posts:** 1862

It isn't just the conspicuous consumption - it's also a problem that so much of government is paralysed by guidelines and regulations. It is doing too much and is running around in circles due to regulations that require everyone to get round a table and procrastinate again and again. The decision making process is mired in cross agency consultations and overlapping responsibilities. Confusion is costly.

If the government can't do something then it should stop taking money off us ostensibly to do that thing, and let us find our own solutions.

I only saw a snatch of Merv on the telly but he mentioned something quite interesting to the effect that western economies have done little to tackle their decline in competitiveness. That decline has been apparent for years.

letmethink · **Joined:** Thu Aug 25, 2011 9:02 am **Posts:** 555

gareth wrote:

It isn't just the conspicuous consumption - it's also a problem that so much of government is paralysed by guidelines and regulations. It is doing too much and is running around in circles due to regulations that require everyone to get round a table and procrastinate again and again. The decision making process is mired in cross agency consultations and overlapping responsibilities. Confusion is costly.

If the government can't do something then it should stop taking money off us ostensibly to do that thing, and let us find our own solutions.

I only saw a snatch of Merv on the telly but he mentioned something quite interesting to the effect that western economies have done little to tackle their decline in competitiveness. That decline has been apparent for years.

No - but we have done much to accelerate that decline. The minimum wage; collective bargaining; the working time directive; EU Temporary Agency Workers Directive, etc., etc.

The most obvious and significant example of course is current climate change law/regulation which 'creates' green jobs - i.e. three or four people required to produce the same amount of energy that one person would previously have created. The goal should be to reduce the amount of effort needed to produce something not increase it . . .

FU (Fed Up) · **Joined:** Mon Aug 01, 2005 8:47 pm **Posts:** 4434

The Governor is mainly calling the EU out, they are the ones bringing everyone down.

I expect these attacks to grow, as the rest of the World loses all faith in those cretins in Brussels.

RAENORTH · **Posted:** Wed Oct 19, 2011 12:23 pm

FU (Fed Up) wrote:

The Governor is mainly calling the EU out, they are the ones bringing everyone down.

I expect these attacks to grow, as the rest of the World loses all faith in those cretins in Brussels.

T thought as much, but what he has to say applies equally to the Cleggerons.

JeremyP · **Joined:** Wed Feb 06, 2008 11:57 am **Posts:** 54

Read this http://www.tullettprebon.com/Documents/strategyinsights/Tim_Morgan_Report_007.pdf for a lengthy but entirely readable explanation of why we really are FUBAR. Then pass it on to your MP and anyone else you blame for the fact that we are FUBAR

Allan_Aberdeen · **Joined:** Wed Sep 08, 2010 8:51 pm **Posts:** 238

Let's face it - the financial collapse can't stopped and the sooner it happens, the better. For those of us who have a good idea of what is coming, the best we can do is protect ourselves and those who matter most to us. Pay off debts, get some real money (gold, silver), keep a hard-currency account outside of the UK (Switzerland, Norway etc.), get a parcel of productive land, stay away from the cities: in short, do some of the 'stupid' things that the much-maligned 'survivalists' had been doing for years. Their ideas were right and their time is about to come.

bennyboy · **Joined:** Wed Jun 01, 2011 6:24 am **Posts:** 50

Local councils should clean the streets, collect the rubbish and deal with some local planning issues. What else are they for?

rosie · **Joined:** Sun Dec 11, 2005 12:21 am **Posts:** 2193

Allan_Aberdeen wrote:

Let's face it - the financial collapse can't stopped and the sooner it happens, the better. For those of us who have a good idea of what is coming, the best we can do is protect ourselves and those who matter most to us. Pay off debts, get some real money (gold, silver), keep a hard-currency account outside of the UK (Switzerland, Norway etc.), get a parcel of productive land, stay away from the cities: in short, do some of the 'stupid' things that the much-maligned 'survivalists' had been doing for years. Their ideas were right and their time is about to come.

Pay off debts, get some real money, (gold, silver) account in Switzerland :lol:

Allan, are you taking the p**s, you must know the majority of ordinary working people are not in a position to do as you suggest.

What you're actually saying is survival of the richest/fittest and stuff the rest.

Allan_Aberdeen · **Joined:** Wed Sep 08, 2010 8:51 pm **Posts:** 238

Rosie - anybody who knows what's in store i.e. who doesn't sit in front of the TV watching X-Factor, Strictly, Big Brother, Corrie, Easties..... will know what to do and make sure that he/she has the means to do it. In a sense, it's not so much survival of the fittest: more survival of the thinking. Those who are in debt up to their necks probably incurred such debts to acquire the 50" plasma screen TV needed to watch the very programmes which I've mentioned - thus joining the dots!

Time is running out

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