Comments on: Who will get credit for Britain’s economic turnaround? http://blogs.reuters.com/anatole-kaletsky/2013/07/05/who-will-get-credit-for-britains-economic-turnaround/ Sat, 03 Jan 2015 16:42:55 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: gildedtumbril http://blogs.reuters.com/anatole-kaletsky/2013/07/05/who-will-get-credit-for-britains-economic-turnaround/#comment-1037 Tue, 16 Jul 2013 21:41:48 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=421#comment-1037 Economic turnaround? Hey, that is riotously funny.
So long as one pig brained government after another pays interest on toilet paper,(QE) there is not going to be any turnaround.One cannot trust any govt. stats.
I well remember Harold Weasel’s Dynamic Technological Stagnation with the cancellation of Blue Streak and TSR2, to name but a few.All they excel at is stealing.Bastards.

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By: bettysenior http://blogs.reuters.com/anatole-kaletsky/2013/07/05/who-will-get-credit-for-britains-economic-turnaround/#comment-1030 Sat, 13 Jul 2013 14:59:34 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=421#comment-1030 Forget any economic recovery as it simply will not happen with the present economic policy thinking.

Over the last forty-five years I have witnesses at first hand the relative decline of the living standards of the vast majority of the people living in Britain. This has been due to a combination of things but primarily it has been the bad decision-making of successive governments and the lack of a coherent economic strategy based on the ‘inclusive’ exploitation of innovation and creativity. What has been the case is that the ‘elitist’ system has run riot excluding totally the world-leading thinking and inventiveness of the British people, something that Japan and Germany have determined is the best in the world by far and commands 53% of the why the modern world is as it is today. For this has and is totally dormant in the UK presently and where this prerequisite for future economic dynamism has not been ‘tapped’ into to date by government. Indeed this pre-eminent of economic catalysts has not been allowed into the system since Britain ruled the world in trade and unleashed the ‘Industrial Revolution’ some 200 years ago. What successive governments have forgot is that it was our great inventors and engineers who at the fundamental level made our nation into the most powerful economic nation in the world and where these individuals in the main were independent thinkers drawn from what we call the common class (or woman), not the establishment classes. Indeed this total lack of involvement through inept government policy has meant that we have not created any new global technological industries ourselves to provide jobs for our people and the constant revitalisation of the nation’s wealth. Get this world-changing thinking back into our mainstream economic policy thinking and then we would see the re-emergence of a new Great Britain. For presently we have the university-corporate research and business interactive model that has failed the nation miserably and where the reason for this is that it should be the inventor-engineer driven university-business model. Therefore not until we have this in place and the vital ‘missing-link’ included again will the nation rise from the ashes to economic and debt salvation – this debt currently projected by PwC to be £10.2 trillion by 2015 and where the total value of the UK according to the ONS is only £6.8 trillion; a shortfall of nearly £4 trillion. That is how bad things really are and why we have to change our thinking to a fully-inclusive one that allows all the creative thinking of the British people to be incorporated and not a mere small percentage of elites who have consistently got it so horribly wrong. HS2 is just one example of this where the thinking is all wrong in Britain today at the top and where there will be no significant jobs created after it has been completed for the taxpayer’s investment of some £43 billion and counting.

Dr David Hill
Chief Executive
World Innovation Foundation

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By: vkbaxi http://blogs.reuters.com/anatole-kaletsky/2013/07/05/who-will-get-credit-for-britains-economic-turnaround/#comment-1027 Sat, 06 Jul 2013 14:20:54 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=421#comment-1027 While historical evidence would seem irrefutable in favour of economic growth based on service and consumer led option, given significant dependence on the financial sector driving this growth approach it may not be possible to achieve as much success in the future as was possible post the Big Bang. The financial meltdown on the back of the Lehman crash has left Banks in general and British banks in particular in a much weaker position to generate earnings, especially from the arguably more risky investment banking activities. With a more stringent regulatory environment in the offing it may leave an indefinite curb in this regard. The big bonuses may no longer be the order of the day with consequent impact on tax revenues for the Treasury and on consumption and services sectors.

Beyond that, Britain must create wealth from productive activities and to that end the rebalancing process must be persevered with even while service and consumption sectors enable recovery in the short run. Otherwise dependence on asset bubbles and debt will remain the cornerstone of the British economic growth with all the attendant risks that have got us in the current mess!

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By: heyrevolver http://blogs.reuters.com/anatole-kaletsky/2013/07/05/who-will-get-credit-for-britains-economic-turnaround/#comment-1025 Fri, 05 Jul 2013 20:04:00 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=421#comment-1025 Nice follow up to “When illogical policy seems to work” article on 13th June. But what about how this ends ? Sure house prices in real terms are more reasonably priced but this boom is still starting from a relatively high level. On an affordability basis due to record low mortgage rates I can see house prices rising 30+% but what happens when rates start to rise ?! The crash from the last boom was relatively short lived due to interest rates going to near zero. Next time if rates have to rise aggressively to tackle inflation things are going to be painful and maybe nobody will be able to ride to the rescue!

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