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The basic rule in economice (Mitchell's Law) is that it's the exchange rate wot done it. Observe:-The Euro is going up and will go higher. So the powerful German exporting machine falters and slows. It still dominates the EU market but demand from other countries is falling. So Germany will stagnate QED. The dollar is coming down. So the American exporting machine is doing better and will pull the economy along. Britain has suffered because the pound has been far too high for far too long. Now it's coming down and manufacturing will benefit. The one thing holding it back is that the Bank of England is determined to keep sterling as high as possible by high interest rates. Reduce them to American levels and we could have us a party. Quad Erat Demonstrandum.
Read, learn and inwardly digest. Gordon..
HOW NOT TO DO IT. PART 97.
It may or may not be a good idea to help house sales by scrapping stamp duty. But if we're going to provide indoor relief for the wealthy like this it's daft to announce it but not introduce it immediately because people are going to wait before buying or selling.
Which is what's happened. It's not the main thing constipating the market but it's one thing they can blame the government for. So they are.
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In the fashionable fetish for market testing and privatising government functions I can't understand why they haven't applied it to the security services. If they remain in the public sector you can't pay enough to get the most able, you can't give them a celebrity eclat or a big bonus for discovering that Al Qaeda has infiltrated the Dewsbury Allotment Owners Executive.
So let PriceWaterhouse do it. They have worldwide offices. They're experts on everything, They've infiltrated big corporations and brought several to their knees and could do the same for Russian Oligarchs and Chinese state industries, or supply dud missiles to Muktadr Al Sadr's Mahdi army. Here is surely one way the west could win. Particularly if we got all the accountancy houses to defect to the dark side. |
