Hard Times Ahead (UK v America)

Taggy · 30-04-2010, 08:39

As all the political leaders tell us we are in for tough times ahead after the election, i was wondering how things compare in the USA at the moment. After all we are constantly reminded that the economic crises was created in America, what is the current and predicted state of their economy in comparison to ours?

I'm not a great follower of American Politics, so was wondering if the yanks are in as deep a pile of excrement as we are, and if so what Mr Obama is doing about it, and how the lives of ordinary American's have been affected.

Best Regards - Taggy

Ken Moss · 30-04-2010, 08:52

They're actually in a lot deeper than we are by all accounts although they too seem to have someone at the helm who is steering the country towards recovery. As it stands, we're actually recovering at a fractionally faster rate than many other countries and it is due to Gordon Brown. He is probably one of the least popular Prime Ministers we've ever had but he does know a thing or two about economics.

If things carry on as they are for Great Britain then we'll be back to 'normal' within about three years but America has deep rooted problems, mainly brought on by the banks. The greed over there is having a knock-on effect around the world and this Goldman-Sachs business is another example.

At least British banks are now aware that pretty much everyone in the country is watching their every move so they can't afford to screw up again anytime soon.

Wynonie Harris · 30-04-2010, 09:21

Quote:

Originally Posted by Ken Moss

If things carry on as they are for Great Britain then we'll be back to 'normal' within about three years

I admit I don't know much about economics, but I think you may be being a tad over-optimistic there, Ken!

jaysay · 30-04-2010, 09:34

Quote:

Originally Posted by Wynonie Harris

I admit I don't know much about economics, but I think you may be being a tad over-optimistic there, Ken!

You have to make allowances for Labour Members Wyn they've been been washed

Crisis what crisis, where have I heard that before

Wynonie Harris · 30-04-2010, 09:53

Don't think any of the three leaders are telling us the real truth about just how brutal the cuts and tax rises will have to be. To do so now would be electoral suicide. Whoever gets in will be taking a poisoned chalice anyway, because the measures they'll have to take will make them so unpopular that they'll have no chance of getting re-elected in five years' time!

cashman · 30-04-2010, 10:16

Quote:

Originally Posted by Wynonie Harris

Whoever gets in will be taking a poisoned chalice anyway, because the measures they'll have to take will make them so unpopular that they'll have no chance of getting re-elected in five years' time!

If thats correct Wyn...............There is a God.

jaysay · 30-04-2010, 10:17

Quote:

Originally Posted by Wynonie Harris

Don't think any of the three leaders are telling us the real truth about just how brutal the cuts and tax rises will have to be. To do so now would be electoral suicide. Whoever gets in will be taking a poisoned chalice anyway, because the measures they'll have to take will make them so unpopular that they'll have no chance of getting re-elected in five years' time!

Totally agree Wyn, so to say that all will be fine under Labour in three years time is, well, just laughable really, after all we have more debt now hat ever before and we're still borrowing, what was it £155 Billion last month

Ken Moss · 30-04-2010, 11:59

Quote:

Originally Posted by Wynonie Harris

I admit I don't know much about economics, but I think you may be being a tad over-optimistic there, Ken!

Look on the bright side, smile, everything will be fine....

Fair point Steve, but at the present rate we'll be in a much better situation in three years than we are now. A slow, steady climb is probably our best way out of this, to be honest.

accyman · 30-04-2010, 12:24

Quote:

Originally Posted by Ken Moss

Look on the bright side, smile, everything will be fine....

best not i heard teh next govenment will be introducing a smile tax

MargaretR · 30-04-2010, 12:44

Have you ever thought about how this 'tax everything' strategy could bring about its own undoing.

It may well reach a stage where all we have left is a 'survival amount' - ie. just enough to prevent starvation.

This level has been reached by some people.
This time 'Let them eat cake' won't be the solution now, any more than it was then, and revolution ensues.

Ken Moss · 30-04-2010, 12:48

I've said before that the quickest way out of the recession would to have been a free gift of £5,000 to every UK resident.

How many people would have hoarded it? Relatively few in my estimation, so you get an immediate cash injection into the economy and it still cost the country less than propping up failed banks.

MargaretR · 30-04-2010, 13:01

The USA welfare system has a time limit on payment of unemployment benefits.
There are people who have had their homes repossessed and have no income.They live in tent cities.
They survive on scrounging out of supermarket skips.

This situation is a ticking time bomb.

"When people have nothing left to lose, they 'lose it' " - Gerald Cilente

Ken Moss · 30-04-2010, 13:02

Quote:

Originally Posted by MargaretR

"When people have nothing left to lose, they 'lose it' " - Gerald Cilente

Great quote, I must remember that!

MargaretR · 30-04-2010, 13:24

I misspelt his name - it is Celente
Current Trends, Recession, Business Trends, Technology Trends | Trends Research Institute

Wynonie Harris · 30-04-2010, 13:33

Quote:

Originally Posted by Ken Moss

Look on the bright side, smile, everything will be fine....

Fair point Steve, but at the present rate we'll be in a much better situation in three years than we are now. A slow, steady climb is probably our best way out of this, to be honest.

"The war will be over by Christmas", "The Titantic will never sink"....

I'll remind you of your words in three years' time!