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Originally Posted by bradders you guys with cash to burn are so lucky banks will be back in profoit next year, hopefully the greed-driven heads will have been guillotined (spellinh?!) and thiose left will resemble once again the community-led ethos which institutions such as banks were...and with real luck private equity will collapse and all those to$$ers who make billions on teh back of other will end up penniless!! |
Funny thing I found Paul.......more effort I put in the luckier I got
Never did much more than get by until I started working for myself running my own businesses. It isn't for everybody but I've been fortunate enough to find some niche markets that have worked for me given my engineering background.
What we need is more genuine entrepeneurs as it is they and not the government who create and always have created real jobs and overall prosperity for the country. The problem I foresee is that they will again be crushed by penurious taxation, the last thing we need if we are to get back on our feet.
Murray has touched on a really serious worry; with the government having allowed our manufacturing heritage to be lost, lack of real training for engineers and for people who can leave university with a degree that suits them for a real job I can't see how the economy can genuinely pick up.
The government go on about the 250,000 skilled vacancies that we have no people to fill, what an admission of abject educational failiure!
The major economies of the world rely on consumerism; China which has witnessed an absolute manufacturing boom will I predict be very badly positioned to ride this out as their rise to heady economic heights has largely been down to selling to the affluent West. With the scarcity of credit people can no longer buy the luxury items they were buying well beyond their means, the manufacturers will not be selling product and will in many cases go bankrupt leading to more unemployment, less people paying into the government coffers and more drawing benefits in an exponentially increasing downward spiral.
The $64 million question is when does it touch bottom.