Indeed. This is one reason the EUR's introduction was forced (perhaps even rushed by some standards).
Yes, it's true that the Great British nation, the one that has given the world so much art and science, is now flabby (not quite as fat as the average yank yet, but getting there) and impoverished culturally. We handed our hopes to the those who have let us down and now face the consequences of years of mismanagement. There is a grave danger now that the soul of an island that has given so much will reap it's own destruction because it was far too lax and easy with it's generosity: of humour, political allegiance, welcome for those seeking work and prospects and belief in the honour of others. We have lost our way for the time being but having several thousand years of history behind my back gives me the confidence to keep going and hoping for better days. We have ruled the land and sea in our time and all great civilisations have their day and europe may not be an harmonious family but a family nevertheless and we will continue to love to hate each other and thereby make life here an interesting experience. So all the little assholes in the grubby recesses of the planet who are puttiong the boot into blighty can just go and fuck off.
GB has once again been brought to it's knees by a Labour Govt, as it was back in the 70s. I believe that most of the blame lies with Crash Gordon who is not mentally fit to be running GB, and I say that in the literal sense, not trying to make a joke. He is deluded, gone with the fairies and his adhoc responses to the crises couldn't possibly be worse. Pschologists would have a field day with him. Not content with bringing GB to it's knees he is now trying to put the boot into GBs international reputation. I agree that if you look hard enough things look really shit in every aspect -there is no justifying or defending the decline in GB over the last decade. But before "you johnny foreigners" have too much fun putting the boot in please explain to me how things are any better in Europe? In some areas they are clearly worse. For example Britain isn't experiencing the civil unrest that some Euro countries are. How is sterling a worse currency than the Euro? I see far more likelihood that Sterling will be around in 5/10 years -the Euro seems quite unlikely in it's present state. Another point is that at least there is a light at the end of the tunnel. In the USA, even when Obama is crowned it will still be the same old lowlifes running the show (Barney Franks, Pelosi et al). In GB Crash Gordon will be dumped within 18 months and replaced with a real alternative -"a change" if you like. While the rest of the world embraces socialism and planned economies, GB might just be getting back on a course to free market policies. As for the comments on the royal family and class system -for the most part they seem to be either ignorant or coming from someone with a chip on their shoulder. How about someone answers the original question about better alternatives? Which country is so much better and devoid of all the faults of GB? Anyone?
Seriously, how did the UK public think they'd do well with their economic affairs run by guys with first names such as "Alistair" or "Mervyn". Are these the kinda names you'd give to children you expect to develop character and lead? Or to kids that nod their heads in private school and later happily sip cocktails and slurp oysters in chalets in St. Moritz while their country goes to hell?
Stock markets are Ponzi Social security scheme is a ponzi Banking system is a ponzi $1 Trillion bail-out is "big ponzi" How will you put 1 billion or 2 billion people in prison? Worldwide army should over-throw their governments and gain 100% control over their country's administration. Worldwide governments are too weak, incompetent and basically useless. http://elitetrader.com/vb/showthread.php?s=&threadid=150849
Not content with kicking GB while it's down, now you're having a pop at Thunderbird fans. Unbelievable...
At presemt USA economy and UK economy are worse than Taliban economy. Taliban economy is all about selling goats & sheeps. Whereas the whole modern financial world is a "Ponzi in disguise". There is no real money. How will you put 1 billion or 2 billion people in prison? I think, the printing cost of $100 bill is 10 cents. Central banks are just increasing the "money supply" when there is no actual "sales demand". The world governments is taking money from new investors (tax-payers) and giving it to old investors (bankrupt giant companies). There is 100% possibility/chance that the giant companies will shut down because "sales future" is not guaranteed because $60 trilion loss has destroyed world economy. The $6 Trillion bail-out & stimulus package from world governments is "big ponzi". It is high-time that Worldwide army should over-throw their governments and gain 100% control over their country's administration. Worldwide governments are too weak, incompetent and basically useless. Now only Army can save this world. Read this thread-: "$60 Trillion Loss (Great Depression 2009)" http://elitetrader.com/vb/showthread.php?s=&threadid=149998
A political plague Mark Dampier Fund Focus - 15-Jan-2009 I have always thought it was prudent to be politically neutral when communicating with clients but this has become increasingly difficult in the last few years. Politicians are blaming the mess we are now in on the bankers, yet, as Cazenove's Richard Jeffrey said recently, this is akin to blaming your children for being sick when you let them loose in the tuck shop with loads of cash. If you give bankers loads of money, they are going to spend it. In my view, investment and politics are more closely linked than ever before. I believe this Government has systematically wrecked our economy over the last 10 years. It sold half our gold reserves at around $250 an ounce and now the price is over $850. It has brought in taxes on pensions, raised taxes through complicated means so as to hide them and weakened regulation of the bank system. Fatally, it not only spent the surplus money we had in the good times but also borrowed more. It has used some of this money to expand our bloated public sector instead of introducing the dramatic cuts and reforms it needed. The Opposition parties have not been much better, seeming too scared to say anything that might offend the public sector or anyone else. They had goalposts wider than the Grand Canyon and failed to score. The economy is in a mess and politicians of all parties are blaming everyone except the people responsible - themselves. Is it any wonder I am angry? I am sure most of you are too. The underlying cause of the housing problems was an unchecked rise in land values. As I have said previously in this column, the only person to have foreseen this, to my knowledge, was Fred Harrison in Boom Bust, written in 2005. US house prices are likely to fall by another 15 per cent before they reach the bottom, making a total fall of at least 40 per cent. I mention this because our housing market was even more overvalued than theirs. Our housing market has fallen by about 16 per cent, so there is long way to go, especially considering an almost guaranteed sharp rise in unemployment. Anyone predicting a modest recovery in 2009 is fooling themselves. The best leading indicator of house prices is mortgage approvals, which makes sense since most people cannot buy a house unless they are first granted a mortgage. The graph above, which pushes mortgage approval data forward seven months, reinforces my point. My thanks to M&G for this data. I believe we can expect at least a 20 per cent fall this year and the market is not likely to hit bottom until late 2010 at the earliest. Millions of people in negative equity will cause a drag on the economy. What solutions do our politicians have for our flagging economy? Labour wants us to spend more in the shops but a VAT cut that reduces prices by 2.13 per cent is far too small, especially as shops are slashing prices and we know huge tax rises will come within two years. The Tories' master plan is a tax break on savings - although not for everybody - but perhaps the irony is lost on them that if everyone now starts saving, the recession will be even worse. God save us from the politicians. As Ronald Reagan said, the nine most terrifying words in the English language are: "I'm from the government and I'm here to help." We need a thorough overhaul of the tax and benefit systems, with a huge cutting back of the public sector, but that would take hard work and political courage and might be difficult to sell to the public. I expect to remain angry and disenfranchised for some time. Next week, I will return to funds that I hope might prosper over the next few years, despite the politicians. Mark Dampier is head of research at Hargreaves Lansdown by the way, Sterling is printing 1.425, highway to hell
Well quoted, my Irish friend. I have to agree with these sentiments. Sell sterling and by a currency that has something solid behind. I am sad to say this but I cannot think of any reason to hold the damn stuff. As far as the country goes, I just go for long walks along the wonderful coastline and hills and forget all the deranged assholes polishing leather seats and spouting crap. The hills and mountains are timeless and help put things into perspective. Yes, we have been shafted and now face years of debt, CCTV everywhere, increasing taxation and a growing nanny state that makes the average man simply liquidity for the system that seeks to suck him dry but keep him just alive long enough drain him, then dump him in an old folks home, take all his savings and let him contract a fatal illness from unhygenic surroundings. Neglected by workers who cannot even speak english, eating shitty food, he will feel betrayed. Now a country of chavs and spongers: no loyalty (we're allowing the loyal boys and girls to be killed thousands of miles from home in a senseless 'war'. Don't know waht the answer is, our 'leaders' just make things worse. It's a brick wall we've hit.
UK is a Police State. Tax is 50%+ . Regulations and bylaws up the ass. Immigrants taking over. Would never want to live there. Ever.