Zen10

I too marvel at the convenient supportive nature of personal anecdotes on forums, which always seem to arrive on time like an expensive chauffeur.

The figure I'm talking about it 16-17 year olds at 40% and 18 - 24 year olds at 20%.

20 frigging percent.

Grayling

.....and they are doing so wonderfully here aren't they?


And what is wrong with anecdotes....
They are all we have to go on....apart from selective headlines and news from the likes of yourself

verystormy

The UK economy is going to get a lot worse yet before it gets better and the government services will have to be cut to the bone. As per the rest of Europe. People think there is austerity now, they really have no idea of what is to come. The complete end of the welfare state is on the way and the problems that will cause.

Oz isn't in much better shape, just is problems a different. It's government debt is not too bad. But it's personal debt will cause the same issues in a while.

renth

Which ever way you look at it, we're all in the shit.

Grayling

Indeed

bcworld

Why? You post it in the Australia section of an expats forum...perhaps there are people who are considering moving between the countries and a comparison is valid.

renth

The thing that worries me most about it is that often these huge financial meltdowns follow a pattern - currency war, trade war then actual war.

Zen10

Of course I posted it in the Australia section of the forum - I state the subject has been posted for British expats in Australia to discuss. It is up to other people living elsewhere to post it in the Canada forum, etc.

The comparative thing is a good point, but that is not what was offered in Grayling's post, was it? I would't have said he disrupted it if he had offered an interesting comparison, but instead he said something puerile about orgasms - disruption, and an obvious attempt to derail the subject before it even got started.

So back on topic... and to verystormy's point about the welfare state collapsing - this would have sounded crackers a few years ago but I'm starting to sit up and listen now. I am hearing no solutions coming from UK politicians - just waffle about austerity lasting until 2012/2016/ now 2018.

Zen10

Totally. If you look at the 20th century - the two big deregulations and tax cut periods of the 20s and 80s were immediately followed by massive, fast booms, then heavy recessions. The first one led directly to WW2, but the second one led to GFC.

I'm not ruling out conflict and I see they're quite keen to cook up some stuff with China.

JoeBloggs80

Apart from you with your blossoming assets and incredibly wealthy offspring of course?

Grayling

Of course

commonwealth

our company just announced job cuts to our office in canary wharf. we're outsourcing the jobs lost to our dublin office.

Grayling

Lots of redundancies and terminated contracts in Queensland health

Zen10

Bottom line is they're printing money to save the economy and that has never worked in this history of human civilisation. I see another rate cut in Aus - after the Murdoch-o-vision has been telling the people to buy houses NOW NOW NOW all winter in case rates go up. They knew full well rates were only going down when they gave that advice. Now I presume Aus chases down to a ZIRP unless they can put the defibrillator on China or get India going. I see Gillard's been over there trying to cook up a uranium deal.

bingobob777

But China and India can't get going until the 700-800million people in the West have some spare cash.

The 700-800m people in the west won't have some spare cash until they don't need to spend as large a proportion of their income on somewhere to live

There's two choices, spin this out for 20 years to save those who overborrowed, BTL'ers and those about to retire but shaft everyone else

Or take the pain now, 4-5 years of global pain, shaft those who overborrowed, BTL'ers etc, at the end of it the young will have much better prospects.


Cut Govt. spending by 20%, increase interest rates, lose half the army and navy, those on benefits get vouchers for food, taxpayers shouldn't be paying for their fags and booze, half housing benefit for those with private landlords. No more money spent on green nonsense or aid to the 3rd world

At the same time build more roads, houses, railways, spend money on stuff that will make a difference.

I'll spend those 5 years in abu dhabi living it up, then head back to build HS2.