AlterNet: Who’s Afraid of a Falling Dollar?
http://www.alternet.org/module/printversion/67307
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2 Responses to “AlterNet: Who’s Afraid of a Falling Dollar?”
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I remember when, about twelve years ago, £sterling devalued.
From that day on the UK has never looked back. It was thought terrible at the time, but the resurgence of the UK economy followed quickly thereafter.
Although on a much smaller scale, the UK has seen it’s manufacturing base shrink as cheeper parts of the world take over these functions.
Our countries have to rely on such things as technology, aviation, medicine, financial trading, and in the case of The States, agriculture and forestry to stay ahead.
But beware, even when things are going well, as in the UK for the last ten years, all it takes is the kind of big spend for little return government that we have had to throw it all away.
A mandate of better education and health facilities is all very well, as long as you get something for your money, not just a lot of statistical hogwash. Business people must be involved. Politicians of whatever Party are good at making arguments, lousy at getting value for your buck.
Posted on 09-Nov-07 at 1:46 am | Permalink£sterling devalued about 12 yeaers ago and the UK has never looked back since.
The only problem has been the big spend government who have sunk it all into Health and Education without any significant result.
Politicians of either party are good at making arguments, but when it comes to getting value for money, the business community must be involved.
Beware of lawyers or academics in charge of a budget. You can kiss the money goodbye.
Posted on 09-Nov-07 at 1:55 am | Permalink