pabloescaban
VIP Member
Maybe you are neither right nor wrong but somewhere in the middle?
USA, Lost the plot ?
- Thread starter tommytank
- Start date
We're all fkucing doomed if that happens
funnily enough that was my OP, surely the Yanks must have someone better and younger than them 2 old duffers,
thinking about it we're no better with all the useless politicians we have
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pabloescaban
VIP Member
Can't see Trump getting back in, he'll be doing a forty stretch if he's found guilty on a couple of the dozens of charges he's facing, although Biden is rapidly losing percentage points due to supporting the genocide in Palestine
So hope your right about that cnut Trump if anyone deserves jail it's him and on Biden what he is rapidly losing is his mind aswell as
losing percentage points for his support of Israel.
Like they say, if voting made any difference then we wouldn't be allowed to do it.We're all fkucing doomed if that happens
funnily enough that was my OP, surely the Yanks must have someone better and younger than them 2 old duffers,
thinking about it we're no better with all the useless politicians we have
formandvoid
TK Veteran
Not sure what you mean, my wife is Thai, and I have a son that lives there so I go there to see family or did you think I went there for other reasons.
I get that but I still don't see how that has anything to do with education.
Drox
TK Veteran
I have never been there so have no idea what is there. But you said you had seen it all, so fair enough. No idea what you have seen but fair enough. The only thing that I know about Thailand is that it is very humid.
That is like Year 8 biology when they teach you about chromosomes. But I’m sure there are a few people in parliament that want to teach the kids that the Earth is flat.
Nope, I am spot on. ☺️
Rishi Sunak: 'We've halved inflation' and other claims checked - BBC News
pabloescaban
VIP Member
Did the halving just occur naturally then?
You and others are saying they caused it in the first place, which they obviously didn't because it was global inflation due to Russian aggression and other oil/gas related shortages.
once everyone had higher gas and fuel bills, they decided to add that onto their prices, and a big chunk extra for themselves, people caused inflation, they always do. The only tool any economy has to fight inflation is interest rates, so thats what they used and its halved
Drox
TK Veteran
I do not recall saying that... Others may have. However, I did not.
The Bank of England raised the interest rates. The UK MPC is independent of the Government...
Sorry but that's patently untrue.
pabloescaban
VIP Member
It's the only effective way.
There is another way, increasing everyone's taxes but unlike interest rates, when they go up they aren't going to come down. Also increasing taxes just produces more strikes and industrial action which makes inflation even worse in the short term
You keep saying that, it has worked this year, but you obviously know of a better way where no one gets stung in the pocket.
Nope, sorry.
Japan has done neither and has the lowest inflation rate, by far, of any major economy (and has had for a very long time).
Funny how your 'mainstream' economists never refer to Japan. They pretty much try to throw a tarp over it and say "nothing to see here" or, if severely pressed you might hear them go into Vicky Pollard mode, "yeah but, Japan is different, no but they are going to collapse soon", etc.etc. etc.
It's kryptonite to these people.
pabloescaban
VIP Member
Japan has high inflation.
Also the yen has lost a quarter of its value against the US dollar in the past 18 months.
Interest rates are lower in Japan, yes, but that means large investors are taking yen out of their economy and investing it overseas, over $5 trillion since 2001
3.3% last month. Japan has neither raised the base rate nor has it raised taxation. Therefore your assertion that the only way to deal with inflation is to raise the base rate is demonstrably false.
You will have to explain the significance of ¥ losing a quarter of it's value against the $ and the effect you believe that has on the Japanese economy.
It's impossible for anyone, except the Japanese govt to take ¥ out of the economy. ¥ can never leave the Japanese currency area (in the same way £s can never leave the sterling area). The name tags on the ¥ may change but they stay where they are.
Sorry, but your 'counter argument ' is "yer but, no but" and doesn't address the issue.
pabloescaban
VIP Member
They're not dealing with it, theyre just ignoring it.
If I invest £5 billion in UK projects, its still in the UK and the uk gets the benefit.
If I invest my £5 billion in China, the UK doesn't get the benefit, China does.
It's not complicated.
And it's not 5 billion, it's 5,000 billion
Japan is in debt massively, 200% of GDP, great example of how to run an economy.
That's quite simple, low value of Yen means prices of imported goods to Japan go up for the Japanese, price increases mean Inflation, increaase value of the Yen, import prices go down, inflation reduces.
They aren't using the bank rate (and haven't for the best part of 30 thirty years) to attempt to manage their economy or inflation. That doesn't fit your narrative, but they are certainly dealing with it.
However, you may want to look at their historic inflation rates (the last two years are particularly instructive) and compare/contrast with the UK. If Japan are genuinely ignoring inflation as you say (they aren't) then based on past performance (inflation and bank rate) then you would surely advocate for the UK ignoring it too, yes?
> I invest my £5 billion in China, the UK doesn't get the benefit, China does.
It's not complicated.
You are correct, it's not complicated at all. It's really simple. You can't invest your £s in China. Your £s can never leave the sterling area unless the govt Taxes them out of existence.
We can talk about govt debt later if you like but, yes, Japan has been running much larger deficits (it's population seems to like to save) for much longer than any other major nation. No dramas.
Right, so the ¥ buys less $, fair enough. Japan imports just about everything, right?
You asserted that must automatically lead to inflation.
So, you'll have to explain why they have one of the lowest inflation rates in the world.