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Collapse of the US economy


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Guest David Guyatt
Economics is beyond me. I'm happy to discuss science or military matters, but if you talk about economics I am lost.

All I know is I get paid, I have bills I pay, and then money to spend.

Time to flay me, David!

Hell Evan, I'm with you. Economics is so boring it makes my head hurt. Besides, all the economists I've known were able to pontificate for hours on their subject but just try to get them to stand behind their predictions and all you see is dust and a rapidly disappearing asshole...

David

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On Radio 4 this morning Gordon Brown was trying to defend what has been going on in the United States. It seems he thinks it is all part of what happens when you have a "free-market". He refused to condemn these shady dealings. He also refused to criticise the fact that FTSE 100 chief executives increased their average pay of £2,875,000 a year. This is on average 97 times their employees' and a 37% increase on last year. Once again it was justified by the workings of the free-market. However, he was quick to criticise the prison officers for going on strike. The dispute was triggered after an independent pay review body recommended a 2.5 per cent pay rise for prison officers, but the Brown government insisted on staggering the increase, making it worth 1.9 per cent in the current financial year. That is what happens when you have a so-called workers' political party being funded by multimillionaires.

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Guest David Guyatt

We'd better get used to it, John, whoever wears the PM's hat - by virtue of getting to wear the hat - will toe the necessary line on the econimic freedom (i.e., allowing "international investors" to plunder and engage in unlawful activities without sanction) and foreign policy (follow the US whereever it goes come what may). The only concession Brown will make on foreign policy is the easier to sell to the public we-are-independent-of-America rhetoric, but it will only ever be rhetoric.

This same attitude will apply to whoover gets to 10 Downing Street and will become the government policy no matter which shade or persuasion of political party is represented... if Ming Campbell and the Lib Dems ever get in (so very unlikely) they, too, will follow the pre-set script.

David

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Whilst we are on the subject, I doubt that the underlying state of Britains economy is much healthier. One and a half trillion in personal debt, much of it unsecured, a completely decimated manufactoring sector, and a vastly overheated housing market means you dont have to be casandra to see big trouble ahead. No wonder they place so much stock in the next generation of mobile phones, plasma screens, ipods and DVD players, they are the only things keeping us afloat.

And land mines...

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