Comments on: “Hair of the Dog”? http://www.dailynetworker.co.uk/2008/11/26/hair-of-the-dog/ Oli Barrett is your Daily Networker Wed, 17 Mar 2010 15:10:30 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Joshua March http://www.dailynetworker.co.uk/2008/11/26/hair-of-the-dog/comment-page-1/#comment-2158 Joshua March Sun, 30 Nov 2008 19:15:13 +0000 http://www.dailynetworker.co.uk/?p=94#comment-2158 Good post Oli. The politicians, as usual, are just looking for good stats for the next election and not actually thinking about what might be right for a sustainable future (in terms of wealth and economic growth, as well as the more normally associated terms). Credit's a brilliant way of making the distribution of wealth more efficient, but it's got completely out of hand, and is being used to make up for a lack of wealth. The government is like an indebted start-up desperately borrowing more to stay affloat, and basing its survival on customers doing the same - a con-trick based on false credit (government guaranteeing it's own debt and trying to do the same for bank lending on OUR future earnings) which is bound to come crashing down even harder than the crisis we're in now. Good post Oli. The politicians, as usual, are just looking for good stats for the next election and not actually thinking about what might be right for a sustainable future (in terms of wealth and economic growth, as well as the more normally associated terms). Credit’s a brilliant way of making the distribution of wealth more efficient, but it’s got completely out of hand, and is being used to make up for a lack of wealth. The government is like an indebted start-up desperately borrowing more to stay affloat, and basing its survival on customers doing the same – a con-trick based on false credit (government guaranteeing it’s own debt and trying to do the same for bank lending on OUR future earnings) which is bound to come crashing down even harder than the crisis we’re in now.

]]> By: Jasmine Birtles http://www.dailynetworker.co.uk/2008/11/26/hair-of-the-dog/comment-page-1/#comment-2153 Jasmine Birtles Thu, 27 Nov 2008 11:15:27 +0000 http://www.dailynetworker.co.uk/?p=94#comment-2153 Quite right Oli! As I pointed out in my blog here (http://www.moneymagpie.com/blogpost/jasmine/anyone-for-spending-more), we're being encouraged (indeed begged) to spend just when we're finally realising that we have to stop and deal with our massive personal debt. How can it be right that an economy is two thirds based on consumer spending? As I've said many times before, it is very unhealthy to have an economy which only does well if consumers get themselves into miserable amounts of debt. There is a fundamental problem here - we're not producing enough, we're not exporting enough and that makes us very vulnerable. I'm telling people to make the most of good deals IF they have the spare cash but not otherwise. Anyone in debt should ignore the pleas to spend - we need to look after our own personal economies and not sacrifice them for the government. Quite right Oli! As I pointed out in my blog here (http://www.moneymagpie.com/blogpost/jasmine/anyone-for-spending-more), we’re being encouraged (indeed begged) to spend just when we’re finally realising that we have to stop and deal with our massive personal debt.

How can it be right that an economy is two thirds based on consumer spending? As I’ve said many times before, it is very unhealthy to have an economy which only does well if consumers get themselves into miserable amounts of debt. There is a fundamental problem here – we’re not producing enough, we’re not exporting enough and that makes us very vulnerable.

I’m telling people to make the most of good deals IF they have the spare cash but not otherwise. Anyone in debt should ignore the pleas to spend – we need to look after our own personal economies and not sacrifice them for the government.

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