More economic gloom

[mark vincent]

Car parts, electronics - the whole lot comes from China. The West doesn't make anything any more. If China stopped sending its wares over - you'd find more than the Pound Shop empty.

The only reason we buy goods from china is because they are cheap. As standards of living rise in china and India then their prices will not be so cheap and the west will then be able to compete.

 

[tim west]

Ask yourself why China along with Russia beforehand have given up on the ideals of total communism and have opened their doors to capitalism? because they couldnt sustain their economies without it, therefore they (china) need investment from the west, if withdrawn they would find it extremely hard to build up the infrastructure they are trying to achieve at this moment.

 

[mark vincent]

Car parts, electronics - the whole lot comes from China. The West doesn't make anything any more. If China stopped sending its wares over - you'd find more than the Pound Shop empty.

 

[joe-90]

No major oil finds? what about the Bakken oil formation in the states, the biggest oil discovery in US history or the gulf of Mexico or Brazil ect. As has been stated the truth is no one really knows how much oil there is.

No major oil finds since the 60s. That's the fact of the matter.

We use 87,000,000 barrels each and every day, year in and year out (and rising).

How long do you think 30 billion barrels will last? A drop in the ocean.

 

[tim west]

britain has sustained itself for the last few decades through the financial and commerce routes rather than the manufacturing route, this was bought about by the likes of Maggie Thatcher selling off a lot of what we did to foreign competitors, this left us in the fragile and fickle world of finance to base our economy on, we might now be seeing the stupidity of those previous desicions?

 

[mark vincent]

britain has sustained itself for the last few decades through the financial and commerce routes rather than the manufacturing route, this was bought about by the likes of Maggie Thatcher selling off a lot of what we did to foreign competitors, this left us in the fragile and fickle world of finance to base our economy on, we might now be seeing the stupidity of those previous desicions?

I agree thatcherites sold off our oil, gas and ,water to germans french and spaniards investors.

 

[godsoftandjoearedull]

The economy cannot avoid recession - it is a mathematical certainty.

Your theories have an uncanny parallel to those of George Soros. You are not he are you?

 

[joe-90]

She didn't sell them off - we simply couldn't work for a pound per day as the competition were doing. Private firms today ship out the work to sweat shops because it's cheaper. Nothing to do with selling them off.

 

[joe-90]

The economy cannot avoid recession - it is a mathematical certainty.

Your theories have an uncanny parallel to those of George Soros. You are not he are you?

He believes the oil crisis is speculator driven - I've not said that.

 

[godsoftandjoearedull]

He believes the oil crisis is speculator driven - I've not said that.

So, the oil 'crisis', which has caused the price of oil to rocket, isn't speculator driven, in your opinion?

 

[joe-90]

He believes the oil crisis is speculator driven - I've not said that.

So, the oil 'crisis', which has caused the price of oil to rocket, isn't speculator driven, in your opinion?

No. Market forces mean shortage of supply for the burgeoning demand.

 

[tim west]

He believes the oil crisis is speculator driven - I've not said that.

So, the oil 'crisis', which has caused the price of oil to rocket, isn't speculator driven, in your opinion?

No. Market forces mean shortage of supply for the burgeoning demand.

But the oil producers have just said they'll increase production, if there's a shortage of oil how will that work?

 

[joe-90]

He believes the oil crisis is speculator driven - I've not said that.

So, the oil 'crisis', which has caused the price of oil to rocket, isn't speculator driven, in your opinion?

No. Market forces mean shortage of supply for the burgeoning demand.

But the oil producers have just said they'll increase production, if there's a shortage of oil how will that work?

They are going to increase it from 87,000,000 barrels to 87,200,000 barrels.

Why bother?

 

[tim west]

To declare that they are not holding the world to ransom?

 

[joe-90]

To declare that they are not holding the world to ransom?

What makes you think that supply can be increased? Geology dictates the extraction rate.

And at the end of the day, it means we will simply run out quicker and the inevitable crash will be all the greater.