A little British Common Sense....on the Economy

[JustRalph]

Yi2l0NilEBE

[fast4522]

A Ponzi scheme that BHO has been trying to sell us. Our economy needs to not only invent the next new thing but manufacture it here. This is a hard sell to those who make money outsourcing to lower cost areas. Unlikely to happen in the next two years equals doom for Obama and his party.

[Native Texan III]

No wonder they are in the same mess as us if grown men have such little grasp of modern economics. The public sector and private sector services consume wealth no question but only a tiny part of the private sector actually produces wealth. A large part of the private sector consumes and wastes wealth.

Britain was the workshop of the World and then we were. China and India have wages 1/15th of ours - if we all paid zero tax they would still be 9 times cheaper. That heavy industry stage has almost all gone and the nation's "wealth" is now the nation's debt. Private credit card debt and mortgages and Government debt with the rest of the World. The so called investment banks only invest about 4% into private businesses - the rest of their money goes on casino style trading and obtaining more debt for citizens and Governments to consume. Anyone still thinking that there is a magic political solution and the debt will just go away leaving us back in the 1950s is delusional.

[boxcar]

The public sector and private sector services consume wealth no question but only a tiny part of the private sector actually produces wealth. A large part of the private sector consumes and wastes wealth.

Whatever that "tiny part of the private sector" amounts to, it still produces infinitely more wealth than all the public sector. It is the public sector that is dependent upon the private for its very existence. Might wanna keep that in mind... ;)

Boxcar

[fast4522]

"debt will just go away leaving us back in the 1950s is delusional."

What is completely delusional is thinking you can keep programs and even add new ones while we tackle our money problems like Europe thinks it can do.