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Just a quick thought. Female involvement in the workforce in Japan. Your thoughts?
Destroyed!
As things stand we now have more people aged over 65 than under 16.
To then say that the only way I cannot be perceived as a bare faced liar is to admit that I didn't know that deflation is always a threat after a credit crash has made me piss my pants laughing. Do you seriously think that someone with the brilliant intellect that I possess would be unaware of that basic fact? Unbelievable.
Right mjdgreg.Let me get this straight.1) You ALWAYS knew that demographic pressure could lead to deflation2) You ALWAYS knew that historically, credit crashes are followed by severe deflationary pressures?Right?
Well then. Enlighten us
mjdgreg - just to be clear, when you say "we", what geographic area are you referring to?
the biggest risk to all our futures
Raising interest rates is needed to get inflation under control. A sustained recovery will not happen until this happens. It is the first step that needs to be taken before other measures can be effective. It's that important.
Interesting discussion as to how the changing demographic of an aging population will affect economic performance. I see that you have thoroughly researched the topic and looked at past examples, say when Atlee decided to create the Welfare State in 1945, at the same time facing a huge debt burden and a totally shattered industrial base - with everyone telling him that he woud deflate the economy. And what was the result of this economic madness, errr the economic boom of the 1950's. If only he had someone of your intellectual capabilities to stop him and thus maintain the divided society of rich capitalist bosses and an impoverished underclass of the 1930's - that Cameron is attempting to recreate.As to the aging population and pension provision, surely the government wont be daft enough to raise the retirement age and make people work longer as a way out this - oh hang on....
Mick.So, since you insist on being obfuscatory again, I'll ask again.Were you aware of the deflationary effects of demographics and credit crash recessions back in July? When you were posting THIS.http://www.drfc-vsc.co.uk/index.php?topic=233453.msg251475#msg251475See, back then, just four months ago, you didn't raise the issue of deflation at all. Not once. Not even as a minor, hypothetical possibility. Even You were telling us that it was imperative that interest rates should be raised to combat inflation. What was it that you called inflation? Oh aye: Quotethe biggest risk to all our futuresYou also saidQuoteRaising interest rates is needed to get inflation under control. A sustained recovery will not happen until this happens. It is the first step that needs to be taken before other measures can be effective. It's that important. Now. If you have since found some astonishing evidence that has led you to conclude that inflation is NOT the biggest threat to all our futures, but that deflation is coming instead, tell us where it is. You've made quite an intellectual leap since then, and that requires some justification over and above "I've read summat". The evidence is clearly so overwhelming that we all need to be aware of it. We all need to read it and take it in. Point us to where that evidence is that you didn't know in July, but that you have found since.That's all I'm asking Mick. It's all I've been asking for about a month now. Can't be so hard to show us, can it?
So, as a read that link BST, my socialist leftie friend, on 8th July you told the economic genius Mick, that deflation was the biggest and scariest threat, while he was saying that inflation was the biggest threat, I`m right up to this point are n`t I?Now 4 months later, Mick is now saying what you said in July, I`d say that`s a 180 degree u turn in any ones language, so Mick actually agree`s with your leftie opinion now!
mjdgreg.But we HAVEN'T got the answer. Isn't that obvious.We have got an assertion from you that you have found "astonishing evidence" But we haven't SEEN the evidence. Where is it Mick? Point us to it. This is important Mick. Surely, you can't have found the evidence that is going to seal the world's thinking on this subject, then lost it down the back of the sofa? Where is it man?
Quotemjdgreg - just to be clear, when you say "we", what geographic area are you referring to?I'd have thought that was obvious.
QuoteInteresting discussion as to how the changing demographic of an aging population will affect economic performance. I see that you have thoroughly researched the topic and looked at past examples, say when Atlee decided to create the Welfare State in 1945, at the same time facing a huge debt burden and a totally shattered industrial base - with everyone telling him that he woud deflate the economy. And what was the result of this economic madness, errr the economic boom of the 1950's. If only he had someone of your intellectual capabilities to stop him and thus maintain the divided society of rich capitalist bosses and an impoverished underclass of the 1930's - that Cameron is attempting to recreate.As to the aging population and pension provision, surely the government wont be daft enough to raise the retirement age and make people work longer as a way out this - oh hang on....Another one who spends his time with his head stuck in history books instead of in the real world. Another one that comes up with simplistic solutions off the top of his head to complex problems. Another class warrior that blames everything on the tories. Do you really think that the majority of people over pension age will have the health to carry on working for long enough to solve the problem? Many jobs are only suitable for younger people and 66 is already too old for a lot of workers to be retiring.What about construction workers for example (a large part of the economy). A life on building sites takes a heavy toll on the body and you won't find many workers even in their sixties never mind in their seventies and eighties.
The only problem is that I now see deflation as inevitable but Billy still thinks you can spend your way out of the problem. A subtle but very important point.