http://www.bbc.co.uk/news/world-13906274 Scary thought that the chinese effectively run the worlds economy!
I remember how excited you got about the Asians taking over the world after watching Civilisation: Is the West History?
The entire world economy is ****ed. For years now, Western / Northern Govts have been spending billions of pounds they don’t have. Gordon Brown and Blair were chief culprits here in the UK. Throwing money at the welfare state and scroungers and immigrants and doing ****-all to address the root problems. It’ll come to a head in Germany when the much abused German tax-payer takes it out on Merkels fat ass at the elections next year. They are – rightly IMO – sick to the back teeth of subsidising the deadbeats of Europe …..and the Turks. Once an Anti EU, anti Euro party gets its teeth into the Bundestag, the whole house of cards will collapse. When Clinton left office the US had a federal surplus (i.e., money sitting in Govt accounts) of $140Bn. When Bush left the gig 8 years later he had pished that away to a deficit of -- well, I don't know , but it was A LOT. We are on the verge of a global economic abyss. Take my word for it. Best advice is to remortgage NOW and lock yourself into a 8-10yr fixed –rate mortgage. Cos when the rate starts to move towards the end of this year it isn't going to stop for a good 6,7,8 points.
As I said the other day, this isn't really a new thing. If the Chinese offloaded the U.S government bonds it has, the $ would be ****ed, as would America. Its only a matter of time before Chinahas the largest economy in the world, so it stands to reason that they will "effectively run the world's economy". You never know, it might be a bit of a laugh!
interest rates will go up but the bank of England wont do it by much if they do.. as it will harm the value of the pound even more and harm exports. Its the retail bank ****ing up the economy as they are charging way above base rate ineterest to try an make the money back they pissed up the wall with stupid lending..
People have been predicting the financial downfall of the US since the 1970s. It seems to be more of a hope than a reality for a lot of people.
thats it...were all ****ed. Can see it now, forced labour camps and the chinks breeding us out to finally take over the world
I thought the German economy was growing at the fastest rate of all European countries? Invest in infrastructure, get the construction industry working again and you'll see things improve. The Germans have done this and it would appear to be working.
I watched a programme on BBC2 last week (hosted by the potato-headed presenter of Dragon's Den) and in all honesty, our engineering and manufacturing skills are not far behind the uber-efficient, Ayrians. It's like you say though, our welfare state is going to be our downfall as there are just too many work-shy, scumbags relying on it, instead of getting off their obese erchies and doing a day's toil
That they are not entitled to in most cases and yet when someone is made redundant after always having worked and needs a little help from the state they get royally shafted.
Read "1421 - The Year China Discovered The World" By (Rtd RN Cmndr) Gavin Menzies. It PROVES that China reached Australia 3 CENTURIES BEFORE Capt Cook, and that they landed on the west coast of the continental USA before 'America' was it was 'discovered' by Columbus. The Yellow Peril indeed. PS: Still, 1.2 billion people, and they cant even find 11 to field a decent footie side.
I quite like the idea of the Chinese taking over the world. It will certainly make those who want to commit crime and just sit around on their arses all day think again..... Can we apply to be a province now so we're a step ahead of the game?
but isnt the problem that although we are technically very skilled those industries are still pretty small scaled in relation to the rest of the economy? i'm not taking the "we dont make anything anymore " line but there is an element of truth in there
