Simple economics

[jaysay]

I've just read Margo Grimshaw's column in the LT she aired a statement her mother used make

Income £1
Spend 19s-11p Happiness
Spend £1-1s Misery.

Don't think her mother was fare wrong do you

[wadey]

"Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

Mr. Micawber in David Copperfield

[Wynonie Harris]

Annual income twenty pounds, annual expenditure twenty one pounds including lending money to a near-neighbour in even worse financial straits, result total insanity.

[cashman]

Simple economics has always been your lots way jaysay.

[Barrie Yates]

Originally Posted by cashman

Simple economics has always been your lots way jaysay.

Except for gold - somebody already sold that - at cut price for no valid reason.

[jaysay]

Originally Posted by Barrie Yates

Except for gold - somebody already sold that - at cut price for no valid reason.

And it weren't my lot either Barrie

[Eric]

There are several versions of simple economics. As you guys and I live in a consumer society, it should go something like this: the strength of the economy is based on consumers (the population as a whole) consuming the products of industry and the services that are provided. There is something called the "multiplier effect" which goes something like this: a high percentage of what people earn is spent in consumption. This spending goes back into the economy, fueling its stability and growth. Simple. Keynes and Galbraith would back me up on this.

And then there is the right-wing simple economics. This exports well-paid industrial jobs to areas of the world where wages are pitifully low, hours long, unions illegal, and worker safety legislation non-exisitent. Meanwhile, back home, the well paid jobs are replaced by minimum wage options (can you flip a burger?), easy credit (NINJA loans), and the dole (which is always in danger from government cut backs). The wealthy, individuals and corporations, line their pockets and escape tax through loopholes. The right wing governments justify this by claiming that there is a "trickle down" effect (Ronnie Raygun believed this; but what can you expect from someone who played second fiddle to a chimpanzee.) ... this means that the great mass of the population survive on crumbs.

But seriously folks, as the student protests are beginning to show, the shameful inequalities in the distribution of the national wealth is the major problem the world will have to face in the near future.

[Tealeaf]

Annual Income = £20.00pds

Annual Expenditure:

Beer = £10.00ds

Wenches = £10.00ds

Baccy/Gambling = £10.00ds

Result? Who cares!

[wadey]

Don't you smoke?

[Eric]

Originally Posted by Tealeaf

Annual Income = £20.00pds

Annual Expenditure:

Beer = £10.00ds

Wenches = £10.00ds

Baccy/Gambling = £10.00ds

Result? Who cares!

You pay too much for the broads ... most of them will do it for beer.

[wadey]

Every month the Government tells us we have imported more than we have exported, they have done this for at least 60 years so I assume we are bust

[Tealeaf]

Originally Posted by wadey

Every month the Government tells us we have imported more than we have exported, they have done this for at least 60 years so I assume we are bust

Oh Dear, Wadey - you're forgetting about the 'invisable earnings' - the sums earned by the banking sector in investing, for instance, in American Sub-Prime real estate. Just look at all the money that has earned us!

[cmonstanley]

or the trillions of pounds of income tax theyve failed to pay

[Tealeaf]

Originally Posted by cmonstanley

or the trillions of pounds of income tax theyve failed to pay

Income or Corporation Tax, C'Stan?

[Wynonie Harris]

Originally Posted by Eric

You pay too much for the broads ... most of them will do it for beer.

There speaks a true ex-Barbary Coaster!