UK General Election 2015
Discussion
Scuffers said:
Keep reading...
read it all.So one bloke reckons growth next year will be weaker, another reckons stronger
GDP per head measured from start of recession to now is slightly down. No surprise, that is what a recession does after all.
Nowhere does it say that UK manufacturing is about to disappear
Indeed, only last month we had this set of good news from the manufacturing sector (growth accelerating, optimism up, job creation accelerating
http://www.bbc.co.uk/news/business-29876956
Some concern about Eurozone and strength of sterling it is true, still hardly in your league of foretelling disaster
Scuffers said:
You mean this bit?The trade deficit narrowed to £9.0 billion in Quarter 3 2014, from £9.2 billion in Quarter 2 2014, mainly due to a larger surplus on trade in services. The surplus on trade in services equates to 5.1% of GDP which is the largest proportion since records began in 1955. This was partially offset by a widening in the trade in goods deficit.
So the trade deficit narrowed? That is good news.
Now remind me why manufacturing is more important than services. I asked but can't find your response
Doesn't say how much goods trade balance worsened. But that does happen you know. Things fluctuate. Still don't see your Revelations style horsemen of the apocalypse coming to scythe through the car industry, or aerospace, or pharma.
JustAnotherLogin said:
XJ Flyer said:
AJS- said:
XJ Flyer
So trade barriers and import taxes?
Unless you want the country to eventually go the way of Greece absolutely.So trade barriers and import taxes?
Going down the protectionist route has been tried. Ever read about the 1930s?
As for the 1930's that was more a case of the proof of what happens in the opposite situation to a Fordist economy.IE low wages resulting in low consumer spending power leading to low demand for labour etc etc etc.Shipping out jobs to cheap labour economies and adding to the trade deficit won't help that situation it will just add to it or create it.All of which is why the US economy of the 1960's was a world away from that of the 1930's ( or that of today ).
Scuffers said:
Still a deficit...
When was the last time we had a trade surpass?
And services us all very well, but it only takes a hickup and we are screwed for another 5+ years.
I'm a big fan of making s
t rather than selling financial services.
Lots more to it than that. When was the last time we had a trade surpass?
And services us all very well, but it only takes a hickup and we are screwed for another 5+ years.
I'm a big fan of making s
t rather than selling financial services.And your preference is not a big argument for manufacturing being more important than services
JustAnotherLogin said:
Scuffers said:
Still a deficit...
When was the last time we had a trade surpass?
And services us all very well, but it only takes a hickup and we are screwed for another 5+ years.
I'm a big fan of making st rather than selling financial services.
Lots more to it than that. When was the last time we had a trade surpass?
And services us all very well, but it only takes a hickup and we are screwed for another 5+ years.
I'm a big fan of making s
t rather than selling financial services.And your preference is not a big argument for manufacturing being more important than services
XJ Flyer said:
The logical conclusion of that idea means that there are no financial implications of a restaurant worker and a shop assistant buying two BMW's and giving the Germans nothing in return except the printed or borrowed money earn't for their 'services'.
Do you pay for services with different money to that you use to pay for goods?JustAnotherLogin said:
Now remind me why manufacturing is more important than services. I asked but can't find your response
I am no expert but suggest both means to regulate out of business and the barrier to entry for financial products is much more relevant and quick acting than for manufacturing.Or do you suggest it would be fine for the UK to have only a financial services industry?
If said financial services industry expanded so much as to be worth what all the others are now...then yes. It would in fact be vastly more efficient...the financial returns are of course a lot greater. Risk diversification would be handled by all your surplus being invested in other ppls manufacturing and economies and stealing their profit. Pretty much exactly as Sovereign wealth funds do.
And I speak as someone who makes a healthy living in the manufacturing industry.
And I speak as someone who makes a healthy living in the manufacturing industry.
NicD said:
Over simplifying for effect:
Ok, so there is a major war or world emergency.
All or much of the investment in other countries become nationalised
We have no manufacturing capacity left.
hmm, what could possibly go wrong.
Well given that such a likelihood is about as likely as the UK having a completely financial services based economy I'd say we would be fine Ok, so there is a major war or world emergency.
All or much of the investment in other countries become nationalised
We have no manufacturing capacity left.
hmm, what could possibly go wrong.
If we are sticking to simplified answers though then I'd proffer the example of Switzerland, stay neutral, take everybody's money, hide behind a decent RN and say knock yourselves out boys and that's 5% of everything you have stolen goes to us no questions asked thank you very much. There are only two ways to be a successful nation...either conquer the world or safeguard the profits of those who do.NicD said:
Over simplifying for effect:
Ok, so there is a major war or world emergency.
All or much of the investment in other countries become nationalised
We have no manufacturing capacity left.
hmm, what could possibly go wrong.
We should also especially be looking at how much steel and aluminium we produce WRT this scenario.Ok, so there is a major war or world emergency.
All or much of the investment in other countries become nationalised
We have no manufacturing capacity left.
hmm, what could possibly go wrong.
Esseesse said:
NicD said:
Over simplifying for effect:
Ok, so there is a major war or world emergency.
All or much of the investment in other countries become nationalised
We have no manufacturing capacity left.
hmm, what could possibly go wrong.
We should also especially be looking at how much steel and aluminium we produce WRT this scenario.Ok, so there is a major war or world emergency.
All or much of the investment in other countries become nationalised
We have no manufacturing capacity left.
hmm, what could possibly go wrong.
The EU has actually had a very negative effect on the levels of food production in the UK, and this is not the kind of thing you can turn round in 5 minutes.
But, you're right, we have no more blast furnaces, bugger all in the way of steel plants, and we don't have the energy for Aluminum refining etc.
Scuffers said:
Esseesse said:
NicD said:
Over simplifying for effect:
Ok, so there is a major war or world emergency.
All or much of the investment in other countries become nationalised
We have no manufacturing capacity left.
hmm, what could possibly go wrong.
We should also especially be looking at how much steel and aluminium we produce WRT this scenario.Ok, so there is a major war or world emergency.
All or much of the investment in other countries become nationalised
We have no manufacturing capacity left.
hmm, what could possibly go wrong.
The EU has actually had a very negative effect on the levels of food production in the UK, and this is not the kind of thing you can turn round in 5 minutes.
But, you're right, we have no more blast furnaces, bugger all in the way of steel plants, and we don't have the energy for Aluminum refining etc.
Do you know how much electricity comes in through the cable from France? If it's not there already, I think I saw another map with a new one to be built to Holland or Belgium.
One wonders if the whole thing is setup to ensure our reliance on the continent and therefore inability to break away.
Esseesse said:
Do you know how much electricity comes in through the cable from France? If it's not there already, I think I saw another map with a new one to be built to Holland or Belgium.
One wonders if the whole thing is setup to ensure our reliance on the continent and therefore inability to break away.
there are cables to France, Holland, and Ireland.One wonders if the whole thing is setup to ensure our reliance on the continent and therefore inability to break away.
the french cable is 2Gw capacity and runs pretty much 24/7 at 2Gw, the Dutch interconnect is 1Gw and once again is pretty much 24/7 at 1Gw, the Irish connector is old and currently runs at 250Mw from Scotland to northern Ireland.
AJS- said:
XJ Flyer said:
The logical conclusion of that idea means that there are no financial implications of a restaurant worker and a shop assistant buying two BMW's and giving the Germans nothing in return except the printed or borrowed money earn't for their 'services'.
Do you pay for services with different money to that you use to pay for goods?Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff