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Posts Tagged ‘Global Economy’

As a child, I could always draw reasonably well, no matchstick men for me, people had to look like people, horses like horses and so on. I can remember my Irish Grandmother sitting beside me and saying something like; “With a talent like that, when you grow up you could be a Draughtsman and earn £20 a week”. In that memory is encapsulated the concept of a “natural order” in society, deference but then she was born during Queen Victoria’s reign.

There was an interesting “guest” article in the Times by Charlie Mayfield who is the chairman of the John Lewis Partnership which operates not as a normal business but as a “Partnership” or if you prefer, a co-operative, with variations, it is a concept that I want to explore further.

http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article7047304.ece

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Over recent months and likely to continue over the next year or so there is lots of Media coverage concerning the “Recovery” and or the threat of a “Double Dip” Recession. Now whilst I am no economist, it does rather strike me that people are looking down the wrong end of the telescope on this one, my gut feeling is that the whole “system” and our approach to it needs to change radically and that is what this and a following essay is about but first a couple of samples from the Press:

Real Unemployment: http://www.telegraph.co.uk/news/newstopics/politics/7257667/Eight-million-people-economically-inactive.html

The Double Dip: http://www.independent.co.uk/opinion/commentators/hamish-mcrae/hamish-mcrae-recovery-was-never-going-to-be-easy-1908331.html

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The following is a totally daft tale but sadly, true and concerns BT the so called telecommunications company who have designed a system to ensure that as a customer, you will never ever be allowed to ‘disturb a manager’ with a question or a complaint

On my return from living and working in the States I rented a flat in Bedfont, near Heathrow Airport and at the time BT launched ‘broadband’ which was technically fine except that they wanted you to pay for it monthly by Credit Card for some bizarre reason.

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We all like a clearly defined villain, someone we can all hate without fear of contradiction that we as individuals have made a mistake. There have been two stories in the past year running in the UK that have both these elements: MP’s Expenses and Banker’s Bonuses.

In both cases I believe that the “Perceived Wisdom”is totally wrong, worse a “cover up” and President Obama’s threats to limit American Banks in both size and scope, probably foolish and his message is more ‘politically populist’ than the sound of common sense. The reality behind both of these stories is something called complacency…

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In today’s Independent, Hamish McRae wrote a truly interesting article on the the emergency budget introduced by the Irish Republic which were announced on the same day as the disgraceful PBR statement given by Alistair Darling to the Commons last week.

It is well worth reading but to give a flavour, the following quote from it: “But the biggest lesson surely is that if a country has to impose austerity, it should do so swiftly.” http://www.independent.co.uk/opinion/commentators/hamish-mcrae/hamish-mcrae-we-have-a-lot-to-learn-from-ireland-1841891.html

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I read an amusing article in the Independent today which centred around Tony Blair pushing his candidacy for the post of the first full time EU President which is based upon the Lisbon Treaty finally being ratified by Ireland voting Yes on the second or third time of asking, the EU will not accept NO under any circumstances. It must really frustrate the “High & Mighty” of Brussels that anything as unimportant as democracy should thwart their evil plans.

What was particularly amusing was the assertion that however begrudgingly, Gordon Brown endorsed Blair, Sarkozy had finally agreed and Merkel, sort of except…If she loses the next German Election and is therefore out of a job, she would want the EU Presidency for herself…

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One must be fair and compliment both Gordon Brown and his wife for hosting the G20, they both did very well. Also in pushing and promoting it, Brown worked hard in getting the top 20 Leaders together and especially on the new American President’s first foreign tour, a worthwhile move.

Although all these people having the opportunity to meet face to face does not mean that there will not be future ‘misunderstanding’, it does reduce the chances plus ’side issues’ like nuclear weapons can be discussed. As for results there is little that can be said, it was the right “mood music” but it is only the markets rather than the politicians that can lift the global economy. So where does this leave Gordon Brown ?

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As I watch on TV the highly varied “protester groups” demonstrating on the streets of London, I am reminded that today indeed is April Fools Day for the whole thing has the air of a Mad Hatter’s Tea Party. What do Anarchists, Green Movement, Peaceniks, Old People who have lost their savings, people who have lost their jobs, people who blame the Bankers…have in common ?

What remedies would suit them all ? Is there a universal panacea ? The answer of course is no because most are just wanting to go back to how things were 18 months ago and the “usual protesters” are hacked off because the economic downturn has made them irrelevant. For them, its a bit like Hunt Saboteurs suddenly finding out that everyone has given up hunting with hounds – it’s bloody tough having both your job and raison d’etre taken away from you…

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There is an interesting article by Matthew d’Ancona in today’s Sunday Telegraph (http://www.telegraph.co.uk/comment/columnists/matthewd_ancona/4991523/David-Camerons-warning-for-Britain-No-more-Mr-Nice-Guy.html) which is worth a read.

It concerns David Cameron’s speech to the Birmingham Chamber of Commerce on Friday evening and around which he has issued a personal apology for the Opposition (the Conservatives), not getting it right on the economy and not challenging the Government both harder and sooner over the state of the UK economy.

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