Is the UK a wealthy nation?

@panda12 wrote:

@terry wrote:

Terry, I have never seen you put any valid points forward for any of your arguments.

I’m not going to use this thread to tell you how ridiculous and patronising you posts have become. I’ve done that on a different thread. It’s probably the case that they haven’t “become” that way, but have always been like that to stifle points of view that you don’t adhere to.

What you lack in knowledge you certainly make up for in “brown-nosing”. How often do you sit there sanctimoniously applauding the views of others? You are a psychological dwarf as well you know it.

You say I don’t put any valid points across, but the fact of the matter is that these are threads I’ve started that you feel are worth spoiling. Good for you. Keep posting or evern better, how about starting a thread of your own now and again.

@panda12 wrote:

=D> =D> =D>

Great post, Scep.

Panda, you should cut n paste this as is tends to be a regular post for you.
All you need do is change the name to jen or wordsworth when the occasion rises.

@sceptical guy wrote:

@terry wrote:

@sceptical guy wrote:

that’s a really crude view of wealth creation, Terry..

Are you saying it’s conceptually false..?

Yes, it’s too narrow.

Read my post. No modern economy can survive without credit.

I’m no fan of Gordon Brown. His policies were based on teh belief that we had solved all out economic problems, and that the banks should just let rip. He even claimed that the trade cycle no longer existed.

But when the proverbial Brown muck hit the fan, he had the guts to take action, and Bush and all the rest rightly applauded him.

The problems remain. The banking failure, and the mortgage crash, are the immediate problems which led to the crash. The need to avoid those credit crunches is the long-term problem we have to deal with, and nobody has a clue as to how that is going to happen.

btw I have applauded several posts. Sometimes – occasionally – I want to applaud yours. Nothing wrong with it, Tel. Don’t let it throw you, and keep to the ball. Remember the football maxim? Play the ball, not the man (or woman, in Panda’s case).

All businesses survive on profit and the UK is no different.
You say it’s too narrow, but it’s a simplistic and hypothetical example of how business works. You find a customer, you esll to the customer at a profit etc etc.

The Chinese economy doesn’t rely on borrowing. They don’t need to borrow although they do afford credit terms to their customers such as the USA for instance. And there was the case recently of China wanting to take the USA to an international court to get the money that was owed.

As for Gordon Brown being some kind of hero, I’d say it was just the opposite. I see things very differently to you. Brown’s management of our finances has always been in question. He tried to borrow this country’s way out of debt. A big mistake.
He deregulated the strict rules that govern banks and the money lending practices that they were bound by. It was Brown’s attempt at increasing the profitability of the Financial Services industry, but it backfired on him. Spectacularly.

The American subprime mortgages disaster (the cause of a major international rift, incidentally) was caused by British banks lending money to American citizens who had no chance of paying it back. Brown’s tinkering with bank policy was the root cause of this.

But hey, let’s recognise the “guts” of Bush and Brown. They are a couple of stand-up guys who tried their best. Incompetence is the word I’d use to describe them.

Because, as British banks teetered on the edge and RBS was bailed out, Gordon Brown’s decision to make British taxpayers pay for his mistakes was (according to you) one that took guts and action.

Hardly.

@panda12 wrote:

I can’t put a valid point across, and neither can Words or Jen.

=D> =D> =D> =D> =D> =D> =D> =D> =D> =D> =D> =D>

Excellent ppst!!