Austerity..Enough!!

[tinfoilhat]

If we hadn't exported our manufacturing industry (when we were told that there were plenty of service industry jobs to go round) and then outsourced our service industry, we wouldn't now be dependent on the financial services sector for the nation's wealth; which, let's face it, will never trickle down to us mere mortals - we are only useful for the treadmill....

 

Manufacturing went abroad because we stuff cheap. Sheffield forum highlights it perfectly. "I want xyz, must be cheap. Or free", never "I need xyz and am prepared to pay for a bit of quality". Oh no. Must. Be. Cheap.

[Hillpig]

Manufacturing went abroad because we stuff cheap. Sheffield forum highlights it perfectly. "I want xyz, must be cheap. Or free", never "I need xyz and am prepared to pay for a bit of quality". Oh no. Must. Be. Cheap.

 

Manufacturing went abroad because the UKs unions and workforce made sure we were permanently on strike and what we did produce was crap.

 

Hillman Avenger anyone?

[Crosser]

Manufacturing went abroad because the UKs unions and workforce made sure we were permanently on strike and what we did produce was crap.

 

Hillman Avenger anyone?

 

No thanks!! they were last produced in 1991 ....... 22 years ago, but for balance, they were only as crap and expensive as the Datsuns or Toyotas of the same era.

[I1L2T3]

London, supported by Leeds and Edinburgh, is a major international financial services center.

 

It accounts for a huge amount of the nations income, earnings from abroad that is. I think there is at lease 60 Trillion invested there.

 

If we drive these banks out we are in serious trouble.

 

You just cant "start new banks".

 

What about all the money they've cost us? The cost of the bailouts. The cost QE to recapitalise the banks. Other stimulus and funding schemes for the banks. Lost GDP during a prolonged downturn.

 

You are right that we can't kick them out overnight but the economy needs to be rebalanced away from an over-dependence on the sector. The rewards are there when the banks appear to be doing well, but the risks posed by the way these institutions operate are too great. Could we survive another crash like the last one?

[hauxwell]

Yes because not having a spare room is the same as getting gassed to death.

 

---------- Post added 27-09-2013 at 10:25 ----------

 

 

Who lives on boiled cabbage? Get some perspective. No one is poor in the UK.

 

Government seems to find plenty of money when it comes to foreign aid. This should be give voluntary not funded by the tax payers.

[Crosser]

What about all the money they've cost us? The cost of the bailouts. The cost QE to recapitalise the banks. Other stimulus and funding schemes for the banks. Lost GDP during a prolonged downturn.

 

You are right that we can't kick them out overnight but the economy needs to be rebalanced away from an over-dependence on the sector. The rewards are there when the banks appear to be doing well, but the risks posed by the way these institutions operate are too great. Could we survive another crash like the last one?

 

 

The next "crash" is coming when there is nothing left for the country to sell.

 

It has pretty much all gone now...

 

 

The country bailed out the banks & there were no returns, now the country is selling off even more of it's assets.....when there are no more assets to sell off..... what then?

[tinfoilhat]

Manufacturing went abroad because the UKs unions and workforce made sure we were permanently on strike and what we did produce was crap.

 

Hillman Avenger anyone?

 

It wasn't just the unions but a lot of Made in Britain stuff was over priced (including the hillman imp which sold at a loss) and badly made. Actually, there's an article highlighting the plight of the hillman imp - 31 stoppages due to strikes in 1964 alone. I'm sure the Germans weren't striking that much. http://www.bbc.co.uk/history/0/22294640

[Hillpig]

What about all the money they've cost us? The cost of the bailouts. The cost QE to recapitalise the banks. Other stimulus and funding schemes for the banks. Lost GDP during a prolonged downturn.

 

You are right that we can't kick them out overnight but the economy needs to be rebalanced away from an over-dependence on the sector. The rewards are there when the banks appear to be doing well, but the risks posed by the way these institutions operate are too great. Could we survive another crash like the last one?

 

I was replying to Mecky, take my comment in context. I think the bankers should be hanging from lamp posts, what they did was criminal. But when burglars break into your house, you don't burn your house down to punish them.

[I1L2T3]

I was replying to Mecky, take my comment in context. I think the bankers should be hanging from lamp posts, what they did was criminal. But when burglars break into your house, you don't burn your house down to punish them.

 

Fair enough. We do need to break our reliance on the sector. I know it's easier said than done but we need to prevent another crisis. The problem is the banks did OK out of it on the whole. Most survived, had money pumped in and the bonuses kept flowing. You have to wonder if any lessons were learned. I guess we'll find out soon enough.

[tinfoilhat]

Fair enough. We do need to break our reliance on the sector. I know it's easier said than done but we need to prevent another crisis. The problem is the banks did OK out of it on the whole. Most survived, had money pumped in and the bonuses kept flowing. You have to wonder if any lessons were learned. I guess we'll find out soon enough.

 

That chance has gone I think, short term anyway. Labour had a chance to invest heavily in infrastructure during the high times - they didn't. They had a massive chance to extract all sorts of things from the banks at the time of the crash when they had their collective hands out. He extracted sod all and that was unforgivable. Going to be very hard for Cameron or milliband if he wins to change much.