tag:blogger.com,1999:blog-27941559.post1219898504012894195..comments2024-03-13T18:03:14.612+01:00Comments on South Of Watford: Got A Deficit Problem? Call MarianoGraemehttp://www.blogger.com/profile/05948656158638818739noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-27941559.post-24667337214980512212010-06-09T18:06:23.908+02:002010-06-09T18:06:23.908+02:00Yes of course it's true to say that there is g...Yes of course it's true to say that there is growth elsewhere in the world Andrew. My question, at the risk of opening issues we've already debated, is whether any of that growth could possibly be attributed to the kinds of policies now being imposed on Spain and other countries? Several of the Asian countries have only recently got over their own dose of medicine following the crisis of the 1990's. Even the IMF and the markets now get alarmed at the consequences of their own remedies. <br /><br />Sure, digging and filling in holes may not be the best long term strategy, but it sure as hell looks better than having people sitting at home doing nothing and steadily getting poorer. The problem in our case is that the economic doctors are getting very handsomely paid regardless of whether their cure is worse than the illness. Another 10 years of recession is not going to be a kick up the arse, it will just ensure that more of the potentially productive economy gets lost. Every financial crisis we go through takes a chunk of the "real" economy with it.<br /><br />Also, artificially prolonging the recession in Europe and the States will have a serious effect on those parts of the world economy that are still growing. Does the doctor care? It seems not. Leaving our economic destiny in the hands of morons who say things like "I don't get paid to think about countries" is a really bad idea. Leaving it in the hands of anyone who doesn't think until they get paid is a bad idea.Graemehttps://www.blogger.com/profile/05948656158638818739noreply@blogger.comtag:blogger.com,1999:blog-27941559.post-82854233595837138262010-06-09T16:10:37.884+02:002010-06-09T16:10:37.884+02:00I would agree that Rajoy's economics are at le...I would agree that Rajoy's economics are at least as bad as Zapateros. To compare the present crisis to the 1929 slump misses one big factor. Then the world was broke - today it ain't. World growth this year will be over 4% - its Europe and the US that have the borrowing problem. Digging holes and filling them again is a worthwhile strategy short-term to avoid an even deeper recession but it ain't a medium term strategy let alone a long term one.<br />Would you lend me €1m for 10 years to spend on my early retirement - I'll pay you 5% p.a interest and may be I'll pay back the capital - but maybe not in euros, would pesetas or drachma do? Oh, and by the way my sons and daughters will be retiring soon.<br />I first came to Spain in the early 1980s and was involved, with others, in creating wealth here through investment and technology transfer. I was a 'salaryman' and didn't personally benefit by the way. I then came to live here and saw a massive improvement in living standards over 20 years. But I did not see enough effort to use this opportunity to become more productive and competitive.<br />Perhaps, like other tired europeans a kick up the arse is what is needed. I don't want to leave my grandchildren the buren of paying for my profligacy.<br />p.s Come back Moscow!!consgreyspaniardhttps://www.blogger.com/profile/01880714699288049166noreply@blogger.comtag:blogger.com,1999:blog-27941559.post-4150673883217556562010-06-09T11:04:32.230+02:002010-06-09T11:04:32.230+02:00The PP are desperate to get back. They're run...The PP are desperate to get back. They're running out of new suits.Lavengrohttp://lavengro.typepad.com/lavengro_in_spain/noreply@blogger.comtag:blogger.com,1999:blog-27941559.post-15594618871162111482010-06-08T23:16:26.048+02:002010-06-08T23:16:26.048+02:00I can't believe that people, governments, what...I can't believe that people, governments, whatever, are falling for it. We're being pushed into taking precisely the measures that will turn this "crisis" into an everyday state of affairs. To the benefit of a few powerful movers.Pueblo girlhttps://www.blogger.com/profile/04904318623281033442noreply@blogger.com