The savings of the past are invested in the future. It is going to be tricky to get them back.
Podcast: Play in new window | Download
OK, I confess replayed slide 10 several times. Thank you for the daily bread.
……and one day, you may all get your bicycles back~!
I think “the future has already been spent” a few times over ! Stay tuned for the depression.
My attention has been drawn to Italy’s problems of late, ( as no doubt many have ), but this post in one of the papers highlights both the financial and political strains at the moment, in the Euro zone…
On a lighter note, I recently returned from a week-end trip to Amsterdam, and was prompted to start cycling more…
While walking around there, I was amazed at how chaotic it looked, but after a day of dodging them, I realised they have a system, it’s just not the system I know…. It’s more of a “Make way for the bike” system…!!!
By the end of the trip, with a different perspective, I decided that if you can’t beat them, join them…!!
fuel is getting more expensive, as is insurance and running costs, so I have decided to opt for the healthy, cheap alternative… Peddle power….
This has made me think about the upcoming Euro crisis, and although times will be tough, we can all adapt, and change our perspective on things. Although lots of things may get tougher or worse, there could be an opportunity for personal improvement in some areas….
I’m not welcoming a collapse by any means, that would be insane, but I am looking at all my pre conceived ideas about what may or may not be and how they fit in to my plans, or better still how can I make my plans fit into what may or may not be….
Yes, they have a system in Amsterdam – If you want a bike……steal one (or buy a stolen one).
But, back to the `problems`. This is surprisingly lala thinking on your behalf. Multiply your `going green, getting fit, can’t afford petrol, new life` by millions. Multiply the same thing with turning down the heating and wearing an extra layer. Multiply saving money by not going on holiday. Multiply not going down the pub.
All those multiplications add up to a lot less GDP. (and millions of projects that will not pay off (the banks would be broke)).
The money system needs a continuation of madness, not people like you going round being half sensible…….What are you trying to do man~?………….Bankrupt the nation~!?
Yes, I am aware that everyone doing this will have an effect of it’s own, and what is good and acceptable for one person to do rarely works if we all do it, but….
Although I see what you are saying, I am beginning to think that the world doesn’t have the answers or the will to implement the decisions necessary to pull this off….
That means bankruptcies anyway…. Those debts will not get paid whether I cycle to work or not….
We all thought Greece and Ireland were bad, Italy is going to be a Knock Out..!!
P.S. Did you ever finish that Gazebo ..??
( It’s good to be back, and have the time to comment again..!! )
Yes, I notice when you are not there.
This is the big thing point. It is all going to break whatever anyone does. It is time to start thinking very very selfishly about what to do personally. Plan for a civil war, between the roundheads and the cavaliers, and decide which side you are going to fight on~?
Or, if that is too much……imagine this is going to grind down slowly. You were not here for the `3 day week`, but if you want to do your homework, that might not be a bad place to start. (Go on, you know I don’t like Wikipedia, but – http://en.wikipedia.org/wiki/Three-Day_Week)
Nice link, strangely, it’s probably coal we will be relying on more and more to produce our electricity in the future… Green isn’t there yet, and Nuclear has political implications…
Opening the coal pits again not only keeps the lights on, it makes jobs ( dirty jobs maybe, but jobs nonetheless )….
I’m wondering what your opinion on Italy is though, Nick…
It’s too big to bail out in the usual manner, so I’m wondering whether the Italian Gold/ assets will be sold ( Italians won’t like it ),
or money printing by the ECB kicks in ( Germans won’t like it ),
or a breakup of the Euro ( most won’t like it ) or, lastly
an ”orderly default” ( which nobody will like the outcome of )…???
It may be possible to open the pits again……..but I doubt it~?? I imagine they will have been flooded (filled in)…..don’t know.
It is looking very German. Very limited printing…..anyone who’s bonds go too high will have to deal with it (or/and fuck off). You can imagine that this makes Merkozy very up itself (so political and so stupid). So, there is Italy. It can take care of itself, even with bonds at over 7% (for a year or so anyway).
I think other things will crack up before Italy. There is Spain for one thing. This sovereign thing is a bit over-done (imho). Sovereigns have quite a lot of wiggle room. Now banks. Banks are different. Not so much wiggle room there. Italian banks are a problem if Italians start to run them (but, for some reason, I don’t think they will).
Right, let’s get to the real problem – This stuffing great recession that is just diving into their boxers.
Again, sovereigns can wiggle. Banks are all a doo-da-problemo. Spanish banks (or mainly the cajas) are on life support….being pumped full of `stealth fluid` that magics their problems away. The recession shark will rummage around and find something to nibble in the Spanish banking system (not Santander unfortunately) and then the sharks will turn on Madrid. Madrid does not have the wiggle room of many sovereigns, because much of the power is delegated to the regions. Regions can be a nice meal for a shark feeding frenzy.
Oh enough, you make me go on as if I know what I am talking about.
Bottom line - In 2009 they thought throwing money at the problem would make it go away. Now they think that spending much less money will make the problem go away. Poor sods~! Wrong both times~!!
http://www.telegraph.co.uk/technology/news/8881382/FBI-Operation-Ghost-Click-raid-shuts-down-cyber-criminals.html “The “click-jacking” fraud netted almost £9m over four years”
What a waste of tax payers’ money. The FBI should have spent their time looking at the banks and politicians. I wonder how much this ” the biggest cyber criminal takedown in history” costed? And the perpetrators are looking at
“The men now potentially face decades in prison on charges of fraud and computer intrusion”
Well, how about the bloody politicians, the Greeks, the bankers?
Something is broken.
Im glad Im not the only one who’s cracking up!