UK economy ‘very worrying’: France

[lem34]

I think the French are a bit jealous in that they are right at the heart of the EU and the Eurozone whereas the UK never fully committed.
Cuts have been made, things will get better. The country has had enough of benefit scroungers and lowlifes who don't work. The anger against the recent riots showed that.

jamie you got to be kidding me. its the other way round brits jealous of france who along with germany that is at the heart of europe, Secondly it was a systemic collapse brought on about bankers. Its bankers you want to blame. they took all the money etc and govt wants to tax and shaft joe public. and you talk like that about uk you dont even know whats happening whose fault etc in the UK lol

 

[888jamie888]

jamie you got to be kidding me. its the other way round brits jealous of france who along with germany that is at the heart of europe, Secondly it was a systemic collapse brought on about bankers. Its bankers you want to blame. they took all the money etc and govt wants to tax and shaft joe public. and you talk like that about uk you dont even know whats happening whose fault etc in the UK lol

Nope i'm not kidding, I think an MP said something similar. The French have to pay a lot higher interest on their debts because they are in the eurozone. True greedy bankers taking too much risk are partly to blame. But we waste a lot of money of people who do not deserve it. I don't think the government wants to shaft us, they probably get no pleasure from it, it's just a part of the austerity measures.
I'd like us to become a bit like the Swiss, with conservative banking practices. It seems to work for them.

 

[lem34]

I think the French are a bit jealous in that they are right at the heart of the EU and the Eurozone whereas the UK never fully committed.
Cuts have been made, things will get better. The country has had enough of benefit scroungers and lowlifes who don't work. The anger against the recent riots showed that.

so much for all the euros problems tell me only europeans have not resorted to quantitive easing both america and uk have. Germans are reluctant to even look at that route for obvious reasons

 

[888jamie888]

so much for all the euros problems tell me only europeans have not resorted to quantitive easing both america and uk have. Germans are reluctant to even look at that route for obvious reasons

I don't know much about QE in detail, it is risky but it can work. Sorry but I'll be trusting Mervyn King over you on economic matters, believe me i think he is much more qualified.

 

[lem34]

I don't know much about QE in detail, it is risky but it can work. Sorry but I'll be trusting Mervyn King over you on economic matters, believe me i think he is much more qualified.

well it was the likes of mervyn king that got us into this problem. quantitive easing is simply printing notes

whenever it has been tried it leads to inflation and currency becoming worthless like when germany tried it

 

[888jamie888]

well it was the likes of mervyn king that got us into this problem. quantitive easing is simply printing notes

whenever it has been tried it leads to inflation and currency becoming worthless like when germany tried it

He is the governor of the BOE, there is no one else like him. He is not a banker in that sense. Inflation is high but I think it fell in the last quarter and it is certainly not comparable to Germany's 5000000000000000% or whatever.
Besides the dollar and pound are not worthless, both countries experienced positive growth, therefore it must have done something right.

 

[lem34]

He is the governor of the BOE, there is no one else like him. He is not a banker in that sense. Inflation is high but I think it fell in the last quarter and it is certainly not comparable to Germany's 5000000000000000% or whatever.
Besides the dollar and pound are not worthless, both countries experienced positive growth, therefore it must have done something right.

he was the same guy who was contemplating interest rate rises just prior to lehamans going down how wrong can you be. US dollar is different to uk cos they have reserve currency.

 

[Cheetah786]

Nope i'm not kidding, I think an MP said something similar. The French have to pay a lot higher interest on their debts because they are in the eurozone. True greedy bankers taking too much risk are partly to blame. But we waste a lot of money of people who do not deserve it. I don't think the government wants to shaft us, they probably get no pleasure from it, it's just a part of the austerity measures.
I'd like us to become a bit like the Swiss, with conservative banking practices. It seems to work for them.

British Prime Minister David Cameron’s recent veto of a stronger European monetary union should not have surprised anyone familiar with British history.

Cameron, cheered on by the powerful anti-Europe wing of his Conservative Party, thwarted intense efforts to create a super-European fiscal authority to prevent the unravelling of the EU’s embattled common currency, the euro, that threatens the future of the union.

Prime Minister Cameron was following Britain’s five-century old tradition of preventing the rise of a united Europe under a dominant power. Maintaining a fragmented Europe was seen by Britain’s ruling class as vital to preserving their nation’s international commercial and military power.

Britain’s often xenophobic conservatives have long warned that closer membership in the European Union would dilute their nation’s unique character, undermine its self-image of power and importance, and curb its freedom of action.

It would also endanger the famous “special relationship” with Washington that provides the US key military bases in Britain and a loyal, eager-to-please ally.

The US-UK axis provides a sense of power and importance, however exaggerated. Besides, for many British, the "“wogs” still begin in Calais”.

Cameron’s veto also played to a less evident but perhaps even stronger emotion: Britain’s abiding historical antagonism towards modern Germany. Or, as old imperialist icon Churchill nastily observed, “Germans are either at your feet or at your throats.”

As the euro crisis drags on, it is increasingly clear that Britain’s old foe Germany, is fast emerging as Europe’s leader. Britain may end up at Germany’s feet.

Much of Europe is already on its knees imploring Iron Chanceloress Angela Merkel to rescue it. She is waiting for bond markets to sufficiently scare EU politicians into really cutting their profligate spending.

“Zucht und ordnung” (discipline and order), that favorite Teutonic slogan, is Europe’s new marching orders from Berlin. Stern German treasury officials were barking instructions at Europe’s unruly politicians like old German army sergeants.

Europe urgently needs German financial discipline and order. So do the United States and Britain. However true, the Brits can’t stand being treated like unruly colonial natives by the overbearing Germans.

Britain’s wildly anti-German tabloid press, led by the Germanophobic Murdoch clan, has been baying at the Germans and constantly dredging up World War II.

“That’ll tell off those horrid Huns,” a lot of Brits are congratulating themselves.

But Cameron’s veto could leave Britain isolated in the cold North Sea, with increasingly less influence and business in Europe, left to play Ye Merry Olde England theme park for overweight American tourists.

Poor old Britain reportedly can’t even fire its nuclear weapons without the US first turning the key.

Britain’s sulk also showed something more alarming. Finance – money-lending and paper-passing - now accounts for 10% of Britain’s economy. London has long been a wild west Dodge City for unregulated financial buccaneers and shady operators, not to mention one of the world’s leading tax havens for the obscenely rich and shady.

In the US, finance is now the nation’s largest industry, accounting for over 20% of GDP. Manufacturing has shrunken to only 12% of GDP.

The City of London was petrified it might fall under serious European financial regulation – worse, German! -and actually pay some taxes on its none-productive activities. So the money-lenders showed their clout by pushing Cameron to abandon Europe, even if it injures Britain’s national interests.

Wall Street already flexed its muscles by thwarting prosecution of the fraudsters and gamblers who brought on the 2008 financial disaster, defending 15% top tax rates for millionaire hedge fund managers, blocking efforts to cut America’s banks down to a safe size, or investigating the nefarious Goldman Sachs.

Britain’s Tories would rather lash their leaking boat to the financial foundering US than work with the EU to build a viable union.

They prefer to keep invoking the faux glories of Churchill – whose relentless anti-German crusading in two wars led to the collapse of Britain’s empire – rather than facing today’s urgent problems.

One bright light in all of this: the more the overvalued euro sinks, the better off will be Europe’s export industries. Germany has already benefitted from this drop. If France and Italy can hang in and cut spending, they too will benefit and, eventually, prosper.




copyright Eric S. Margolis 2011

 

[888jamie888]

he was the same guy who was contemplating interest rate rises just prior to lehamans going down how wrong can you be. US dollar is different to uk cos they have reserve currency.

That means nothing, no one predicted the global crisis. US dollar is different, so? My point still stands the pound is still quite strong.

 

[888jamie888]

Why was that directed at me?
Most of that is tosh. No one has a problem with the Germans. What a load of anti-British BS, having a go at Churchill for fighting Germany? lol.
Why shouldn't we be allowed to protect our most valuable asset?

 

[lem34]

That means nothing, no one predicted the global crisis. US dollar is different, so? My point still stands the pound is still quite strong.

Listen Jamie mate let me tell you something I worked in the corrupt dodgy area known as the square mile in the city of london. I swam with the sharks. I did predict what was going to happen. I told my bank in 2006 and made a lot of money from doing so. If you pm me your tel I am more than happy for you to verify what I have said. In fact I may even have some emails from me to my bank telling them.

Back to thread brit economy is stuffed. I mean wwhat expertise does the chancellor osborne have in real life and finance. He joined the tory part after uni, became an asistant of lamont cos his family had contacts with tory party when lamont was a failed chancellor in the 90s. His experience is basically as a political hack who assisted cameron getting elected as leader of the tories and he got rewarded and became chancellor yea rite way to go that will sort out uks problems.

I am only surprised that more people didnt see it coming.

oh btw my predection now is that US dollar will hit the tipping point far sooner than anyone is expecting and its days as the reserve currency are numbered. I can iee it go no more than ten years at a max

 

[888jamie888]

Listen Jamie mate let me tell you something I worked in the corrupt dodgy area known as the square mile in the city of london. I swam with the sharks. I did predict what was going to happen. I told my bank in 2006 and made a lot of money from doing so. If you pm me your tel I am more than happy for you to verify what I have said. In fact I may even have some emails from me to my bank telling them.

Back to thread brit economy is stuffed. I mean wwhat expertise does the chancellor osborne have in real life and finance. He joined the tory part after uni, became an asistant of lamont cos his family had contacts with tory party when lamont was a failed chancellor in the 90s. His experience is basically as a political hack who assisted cameron getting elected as leader of the tories and he got rewarded and became chancellor yea rite way to go that will sort out uks problems.

I am only surprised that more people didnt see it coming.

oh btw my predection now is that US dollar will hit the tipping point far sooner than anyone is expecting and its days as the reserve currency are numbered. I can iee it go no more than ten years at a max

Well congrats if you did, but many people, governments etc did not. He only works on the info given to him which I suspect did not forecast the crisis.
Be fair he went to Oxford no easy feat. He started at the bottom and worked his way up, besides does the countries finances have any relevance to real life? No, I'm sure you could do that job with no people skills.
Of course the dollar will ultimately fail, China with it's vast population is realising its potential. 10 years is quite an imprecise prediction.

 

[lem34]

Well congrats if you did, but many people, governments etc did not. He only works on the info given to him which I suspect did not forecast the crisis.
Be fair he went to Oxford no easy feat. He started at the bottom and worked his way up, besides does the countries finances have any relevance to real life? No, I'm sure you could do that job with no people skills.
Of course the dollar will ultimately fail, China with it's vast population is realising its potential. 10 years is quite an imprecise prediction.

when i started going on about the dollar about 5 years ago economists etc on the net were talking abou 30 40 years but i have noticed recently some are starting to talk about a basket of currency serving as a reserve currency that would include the dollar but a lesser weight attached to it as early as 20 25

 

[Hussein]

Why was that directed at me?
Most of that is tosh. No one has a problem with the Germans. What a load of anti-British BS, having a go at Churchill for fighting Germany? lol.
Why shouldn't we be allowed to protect our most valuable asset?

You are wrong to say french are jealous of English. They just see English to be anti euro ... that 's all
nothing to do with jealousy
i don't understand how you can draw this conclusion

there is not even jealousy towards the most powerful nation in Europe = Germany

right now France and Germany and other nations try to save Euro
And UK is seen by Germans and French as acting to sink it.
Remember: when yopu entered Europe (UK) Europe "gave you a lot of money" because your country having hard financial problems. When your country was doing better , you were still asking to these financial advantages .
You don't want Europe. Ok it is your business but then don't ask to enter any discussion about Europe and fake to be interested. You should be honest with your self about your choice.

 

[888jamie888]

You are wrong to say french are jealous of English. They just see English to be anti euro ... that 's all
nothing to do with jealousy
i don't understand how you can draw this conclusion

there is not even jealousy towards the most powerful nation in Europe = Germany

right now France and Germany and other nations try to save Euro
And UK is seen by Germans and French as acting to sink it.
Remember: when yopu entered Europe (UK) Europe "gave you a lot of money" because your country having hard financial problems. When your country was doing better , you were still asking to these financial advantages .
You don't want Europe. Ok it is your business but then don't ask to enter any discussion about Europe and fake to be interested. You should be honest with your self about your choice.

BERNARD JENKIN: 'They're stuck in the euro at an uncompetitive exchange rate, their government has to spend more interest borrowing money than the British government because we're outside the euro and we have a flexible exchange rate.

I think they're rather jealous of our position in some respects.'
That is how I have drawn that conclusion coupled with the fact that they might be downgraded ahead of us.
We are not trying to sink Europe, you are our biggest trading partner.
Faking interest? What are you on about?