Tuesday, 3 March 2009

Why we are FUCKED

A guest post by Bofl (if anyone else would like a guest spot, contact me)

As a historian (allegedly) Gordon Brown should have known that every ‘bubble’ in history has been caused by a credit boom.

But Gordon knows best. After all he did once touch a ten bob Bank of Clydesdale note! While most of us were working our nuts off to keep a roof over our heads Gordon kept on increasing taxes and having nice free lunches round at Goldman Sachs.

I won’t go into intricate detail. I used to be City Trader. A good trader analyzes and acts quickly. So no need for minutiae. A reliance on Banking has left the U.K (now that’s a laugh) in a very nasty situation. We have lost 1 million manufacturing jobs over the last 10 years.

Brown keeps on talking about the new ‘digital future’. As usual a meaningless line designed to try to make him seem more intelligent than he is…….just like the photo of him sitting at a pc screen in the no.10 bunker.

So does he mean software? Where is our Microsoft ?
Does he mean hardware? Where is our Intel? Our STM?
Maybe phones? Nokia? Ericsson? Motorola?

Google? Where are our Larry Page and Sergey Brin?
(no doubt learning Citizenship at school)!!!!!

So where will all this magical innovation come from and how will it be financed?

The Banks are skint….remember- we own most of them now.
The Government is broke also………Gordon has stuffed us all for £33,000 each…so far!

So how will we compete with the rest of the world?

Recently two factories have actually opened.

Belgian foam maker Recticel has opened a £14 million factory at Meir Park, Staffs.
How many jobs created? 40!!!!!!!! Yes,just 40!!!!!

That means that each job needed an investment of £350,000!!!!!!!!!!

Hawker Beechcraft opened a high tech painting plant with a £4.5m investment creating 40 jobs at Broughton in Wales.

So this time £112,500 per job!

The Chinese must be quaking in their boots!

OH Ha'penth worth from the Penguin

The report by the UK National Defence Association (UKNDA), an independent body, quotes the government adviser as saying: “Defence, aerospace, manufacturing and engineering have no real value to us.

“Only high-quality professional services, financial services and the City of London have any real value and they should be supported at all costs. The rest of the country can be turned over to tourism.”


Oldrightie said...

I seem to rember BoFL was well over two years ago warning of the nightmare unfolding on Downing Street. Well the FTSE this morning somewhat reflects this. We need an election now for any miniscule hope of stopping the rot and stench of Labour failure.

Delphius1 said...

I posted this comment on Nick Robinsons blog back on the 6th of Jan. Says it all really.

Welcome back from your hols (Nick). Seems that the time spent away from Whitehall hasn't disconnected you from the Labour spin machine at all.

What you should be asking is: Now that the financial market has shown to be a burst bubble and in no way able to support the UK economy, where do we go from here in order to create wealth?
Over the weekend Gordon Brown bandied the figure of 100,000 jobs being created directly by the government's action, but absolutely no detail about how this is to happen. I heard something vague about how these jobs will be created in IT or new digital media.

Great, how's that supposed to happen when IT and hi-tech jobs are now being outsourced to India? The service industry is now going the way of older industries: east. Third world countries now have a large enough base of educated people to satisfy the world demand for cheap, intelligent labour. Even if we introduce the savings the Tories propose, it only slows down the inevitable. We still need a plan for the future.

So where exactly are we going to find the next wave of technologies to support our economy and how exactly do we make those jobs happen here and not in some cheaper labour market? Thats the challenge for the government.

Thats the question any political analyst should be asking. Where exactly is our future wealth going to come from? How will we keep those jobs in a global market?

If our wealth reduces, how will we provide energy cheap enough so that our citizens can afford to pay for it? The cascade of job losses is just starting to pick up speed. The time to make decisions about the future dirction for the country is now. We need substance, not spin. Progress, not prevarication. And above all, true leadership for the people to believe in and follow.

Reimer said...

We're merely reaping the harvest that's been being forecast for 20 years or more by those outside Alan Walters' & Patrick Minford's inner sancta. All this shit about a weightless knowledge-based value-adding high-wage post-everything economy that'd fit the general pop'n (NOI just a tiny echelon of high high-fliers) has been touted by snake-oil salesmen, first in the US and then here, since the mid-90s at least to my knowledge.

Entry to the charmed circle that conducts mainsteam politics, that living soap opera synopsised by hacks like Guido, was dependant upon subscribing without question to such dogma.


Anonymous said...

Its interesting how everyone is always an expert!

As a trader you should know that the number of jobs is irrelevant - its a political issue. What really matters is how much money is it making.

Give me a factory paying 10 people £40k a year over one giving minimum wage to 30 any day!

I'll tell you where the next innovation is coming from ... its from ****************!

Do you really think we are that stupid? If I knew that, I would be investing in it, not telling the critics all about it!

All I can tell you is that the smart money is in avoiding government interruption by staying well below the radar!

Whatever it is, it won't be in creating jobs for the sake of it. That is what the public sector is for.

Anonymous said...

Lets be honest here, the British or rather middle class English have for the last 25 years voted for the party which would give them house price bubbles, cheap credit, and cheap imports, we can all sit behind a desk and direct the lower orders and migrant workers to do the dirty jobs, and if those jobs dissapear so what, get a well paid desk job just like me!

The trouble is pushing a pen is unproductive and twats like me have to be squeezed to pay for the never ending procession of office boys.

For fuck sake get a proper job and contribute, stop taking my money.

bofl said...

1/thank you o/h

2/anon 14.54

i wrote:
'no need for minutiae'.

we could argue all day- the point is that the uk is light years behind nearly everyone else.......

therefore when mc shitforbrains comes out with bilge he and the other twerps need to be taken apart....

charcoal said...

This has worried me for a goodly while now. I get angry when someone claims "I'm going to create nnn jobs". Productive jobs can't just be created. Seedcorn has to be planted, and the companies nurtured and eventually the survivors will provide jobs.

But as the centre of the world economy is shifting Eastwards, when we do come out of recession we'll be at a manifest geographical disadvantage.

As for new media jobs (I work in new media), Indian's work for a fraction of UK rates, so you'd need a real world beating product to justify basing it in the UK. And new media is for a handful of highly skilled professionas - no jobs for the hoi polloi there.

Cant help but think we're fucked.

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