Europe is an extremely poor place to do business and its just getting worse.
None of the Internationals wants to do business anymore because most of them
lose money hand over fist due to EU regulations and the poor economic conditions
and lack of a proper business environment. Many have stuck around while racking
up quarterly losses in EMEA simply waiting for things to get better and trying
to hold on to market share, but that will not keep up forever and the cracks are
already showing. Disappointing eurozone PMI data dampens recovery...Manufacturing data from the eurozone shows that the sector contracted
for the 15th month running, painting a 'bleak picture' and dampening hopes of an
economic recovery in the region.mpens recovery ? There is no recovery. Its all
hot air and bollox spouted by ministers and euro ministers, bankers and the
IMF.We're going doooooown and we know it, hence the public anger.
In the last 2 weeks alone. 250 jobs gone at severn seas, 350 at
kimberley clark, over a 1000 lost at ford, now 6000 comet workers jobs on the
line. I was added to the jobless figures myself a couple of months back so I
know how things are feeling at the sharp end.But they must have their
EU increases so they can continue to spend spend spend, fiddle their expenses,
and feed us hot air and waffle.
Want to stimulate economic recovery?? weell
here's how:
1. Cut taxes - let money ccirculate in the economy, not be lavished upon malingerers & the indolent!
1. Cut taxes - let money ccirculate in the economy, not be lavished upon malingerers & the indolent!
2. Cut spending to the bone. End the socialist evil that is the welfare
state.
3. cut red tape - abolish these silly 'elf & safety laws! do away with
the legions of EU cucumber inspectors! Do away with regulators whose sole
purpose is to strangle growth!
4. liberalise labour laws - end the minimum wage, criminalise trade unions.
Then the economy will flourish!A Keynsian stimulus would have required supluses
to have been run in the boom times.
This did not happen - in fact the last government was so incompetent that it did not even realise that it was running a structural deficit of £76bn in 06/07. Those advocates of Keynes were very quiet during the past decade - perhaps they believed the nonsense of "no more boom and bust". Either way, Keynes and his many disciples would be turning in their graves at the conduct of UK government policy for all of the last decade, and Keynes' ideas were made when the UK was a net exporter, had an Empire to fall back on, and government spending as a proportion of GDP was less than half what it is now.
A policy of running a deficit during a boom, followed by a bigger deficit during the inevitable bust is a recipe for national disaster, and people who propose such an action using the fig-leaf of Keynes should be sectioned under the mental health act and never be allowed in a position of power again.
This did not happen - in fact the last government was so incompetent that it did not even realise that it was running a structural deficit of £76bn in 06/07. Those advocates of Keynes were very quiet during the past decade - perhaps they believed the nonsense of "no more boom and bust". Either way, Keynes and his many disciples would be turning in their graves at the conduct of UK government policy for all of the last decade, and Keynes' ideas were made when the UK was a net exporter, had an Empire to fall back on, and government spending as a proportion of GDP was less than half what it is now.
A policy of running a deficit during a boom, followed by a bigger deficit during the inevitable bust is a recipe for national disaster, and people who propose such an action using the fig-leaf of Keynes should be sectioned under the mental health act and never be allowed in a position of power again.
2 comments:
As we wait for the press conference in Brussels, Graeme Wearden (who should be relaxing at home) points out that there are three key questions about any deal:
1. What are Greece's new bailout targets? Leaked documents have show that the old one -debt of 120% of GDP by 2020, was unachievable without significant debt relief.
2. Does Greece get its aid tranche, and how much? Originally Athens was to receive 31.5bn, but the delays means other payments are now due - so the total package could be 44bn
3. Who pays? Will the ECB give up some 'profits' on its Greek bonds. Will lenders accept lower interest rates. Is an official haircut on Greek bonds held by euro governments and central banks still off the table?
The small print is once again horrific for the Greek people.
1. The Greek government is being forced to buy back bonds but the creditors are very quickly raising the price of these bonds to increase profit. The vulture funds are moving in.
2. Our taxes will go into a special escrow account over which we have no control.
3. If the privatisations don't go through Greece will pay penalties. In the meantime hedge funds are making huge profits brokering the deals. This amounts to the rape of Greek resources.
4. No increase in the minimum wage until unemployment drops below 10% ie. never.
It's a modern form of imperial slavery. Meanwhile the Greeks have now taken up to a 50% cut in their wages and prices in the shops are actually increasing. Plus we are having to pay a whole barrage of extra tax demands. I would calculate that most of us have lost 75% of our spending power in just two years. What hope is there for the economy now?
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