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Re: Console yourself that Britain still produces .
Posted by 'Moonshine' on 24 Mar 2011 @ 10:28

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MoonshineJoined: August 2008
Total Posts: 1
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In the 70's and 80's one of the headline figures reported by the news every month was Britain's balance of payments. i.e. the amount we exported v's the amount we imported. This was used as a measure of whether we were paying our way in the world or not.

Believe it or not it used to be positive but from the 70's it has always been negative. When it got to about Ł10 billion per month negative every month the news gave up reporting on it.

Strangely though whilst manufacturing in this country has diminished the economy in this country hasn't collapsed altogether. This is largley due to the open doors policy and the governments target to increase the population to 70 million. In effect more people means more economic activity (everyone has to eat and be clothed). Not to mention the hugh borrowing we now have to pay for the services most people now expexct is their right. However this disguises a hugh drop in per capita income and wealth of our nation.

Today economists and politicians have completely changed their thinking about the way the world works and the UK's position in it. Off course like any theory only time will tell if it is right.

For example they see imports from China and the developing world as an indirect way of subsidising these economies and thereby neutralising the threat of millions of people going on the rampage. Secondly goods assembled for $1 an hour means UK people benefit from much lower prices of goods. Thirdly because the developing world/China now has hugh balance of payments surplus's we borrow that money back at very cheap interest rates. The interest we pay them is seen as a further way for us to subsidise them.

The politician who bought into the perverse logic that our hugh indebtedness to the rest of the world is a good thing was the last PM Gordon Brown.

But like any good thing too much of it will destroy you and he completely failed to recognise where the limits where. But an economic theory that encouraged him to borrow to excess (when he should have been paying down national debt in the good years) ticked all the boxes for his Scottish Presbyterian, Do Gooder philosphy.

So in a nut shell in the 80/90's Maggie got rid of manufacturing jobs because the unions where too powerfull and hell bent of wrecking the country. In the 90/00's Brown/Blair got rid of manufacturing jobs because they where on a quest to subsidise the rest of the world at our expense. What will the next chapter hold....?

Message Thread:

made in Britain... by 'BrianP' (23 Mar 2011 @ 18:12)

Re: made in Britain... by 'Newshound' (23 Mar 2011 @ 18:54)

Re: made in Britain... by 'BrianP' (23 Mar 2011 @ 19:37)

Re: made in Britain... by 'Doink' (23 Mar 2011 @ 20:16)

Re: made in Britain... by 'Newshound' (23 Mar 2011 @ 20:41)

Re: made in Britain... by 'Newshound' (23 Mar 2011 @ 20:49)

Re: made in Britain... by 'IanPa' (23 Mar 2011 @ 21:37)

Re: made in Britain... by 'BrianP' (23 Mar 2011 @ 21:55)

Re: made in Britain... by 'alanrr' (24 Mar 2011 @ 0:13)

Console yourself that Britain still produces .. by 'Chads' (24 Mar 2011 @ 2:27)

Re: Console yourself that Britain still produces . by 'BrianP' (24 Mar 2011 @ 9:05)

Re: Console yourself that Britain still produces . by 'chriskasch' (24 Mar 2011 @ 9:10)

Re: Console yourself that Britain still produces . by 'BrianP' (24 Mar 2011 @ 9:16)

Re: Console yourself that Britain still produces . by 'chriskasch' (24 Mar 2011 @ 10:24)

Re: Console yourself that Britain still produces . by 'BrianP' (24 Mar 2011 @ 10:27)

Re: Console yourself that Britain still produces . by 'itpro' (24 Mar 2011 @ 10:26)

Re: Console yourself that Britain still produces . by 'BrianP' (24 Mar 2011 @ 10:46)

Re: Console yourself that Britain still produces . by 'Moonshine' << You are here!

Re: Console yourself that Britain still produces . by 'itpro' (24 Mar 2011 @ 10:35)

Re: Console yourself that Britain still produces . by 'BrianP' (24 Mar 2011 @ 10:51)

Re: Console yourself that Britain still produces . by 'itpro' (24 Mar 2011 @ 12:11)

Re: Console yourself that Britain still produces . by 'Moonshine' (24 Mar 2011 @ 11:13)

Re: Console yourself that Britain still produces . by 'itpro' (24 Mar 2011 @ 12:06)

Re: Console yourself that Britain still produces . by 'NikG' (24 Mar 2011 @ 14:46)

Re: Console yourself that Britain still produces . by 'BrianP' (24 Mar 2011 @ 15:11)

Re: Console yourself that Britain still produces . by 'PaulMRotax' (24 Mar 2011 @ 15:21)

Re: Console yourself that Britain still produces . by 'NikG' (24 Mar 2011 @ 15:23)

Re: I'm out! by 'BrianP' (24 Mar 2011 @ 15:43)

Re: I'm out! by 'QuickOldTimer' (24 Mar 2011 @ 15:56)

Re: I'm out! by 'PaulMRotax' (24 Mar 2011 @ 16:22)

Re: Console yourself that Britain still produces . by 'Traxtar' (24 Mar 2011 @ 17:04)

James, your bottom has transposed places... by 'alanrr' (24 Mar 2011 @ 20:22)

Re: made in Britain... by 'DavidMH' (24 Mar 2011 @ 12:13)

Re: made in Britain... by 'BrianP' (24 Mar 2011 @ 13:13)

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