IMF warns of stagnation

See http://www.theguardian.com/business/2015/oct/06/imf-warns-stagnation-threat-g7-economies .

OK this is the Guardian and it is a paper of the left, but this is worrying.

The growth in the west is not based on firm foundations. For a long time I have advocated living within our means and not on borrowed money at low interest rates. This will not last.

At some point debts have to be paid.

UK growth

See http://www.bbc.co.uk/news/business-28800141 .

UK.growth puzzles me. Apparently the economy has now passed the re-recession peak and the economy is growing nicely/faster compared with other economies. Is this true? Are we really better than all those other economies that are so much more efficient?

What about our deficit? We still seem to be borrowing astronomic amounts and, as a nation, living well beyond our means.Surely,  in the end, we have to be living as a nation and as individual citizens within our means? This is clearly not the case at present.

UK Population

One of the pleasures of New Zealand was the low population density. Even the places between the lovely places were lovely because there were so few people. We drove up the west coast on the main road and saw just 4 cars in one hour! This was a real joy.

Contrast that with the UK which now boasts a population of 64 million, up 400000 in just one year. We are a small island and need no more people, please!

We need to put a lid on immigration, letting in only those we really need for skills we are short of, and put a lid on large families. In this age of available contraception and education there is no excuse for large families.

At the rate we are going we will be unable to feed and house everyone. Surely there are other places for those coming to the UK to live? Wide open spaces in continental Europe?

This is not being racist: I did NOT vote for UKIP or the BNP. What I am expressing is just pure common sense. Our small island is growing far too fast and this HAS to stop.

Basically I support the trade aims of the EU, I enjoy visiting European countries but think we have to be able to limit net inward migration into the UK. If the EU does not agree then we may need to walk away from the EU and its fine trade aims. I am against a federal Europe: this was not what we agreed when we joined.

Consumption and economics

With the US heading for a "fiscal cliff" unless Obama, the Senate and House of Representatives can muster a last minute deal, it is timely to remind ourselves that western economics is based on driving consumption to stupid levels to encourage "growth". This is ultimately unsustainable.

See http://www.monbiot.com/2012/12/10/the-gift-of-death/ for an interesting article on this.

The future of Europe and the west - downhill?

There was an excellent article in The Times today by Matthew Parris entitled, "Face it. There is no answer to the eurocrisis". I'd like to link to it but don't subscribe to the Times app yet.  In summary, his thesis is that we have now past the best times in the west and our only route is downhill. We are kidding ourselves about our current fate by evasion.

We are kidding ourselves that the problems were created by the bankers whereas it is fundamentally down to our excesses in the last 50 years or more.  We elected our politicians. We allowed a system that rewarded bankers huge bonuses and allowed them to gamble our money for their gain. We could have seen the writing on the wall, but we chose to ignore it. We were all aware we were living beyond our means on money that didn't exist, but we all believed the myth that growth was making the world better for everyone. Now our chickens have come home to roost and we'd better come to terms with the new age we now face.

My own view is this new age is also an opportunity: one in which sustainable living within our means and personal happiness will be more important than growth and the culture of excessive consumption.  Just maybe we'll get our values more in focus and see the last 100 years as an aberration. It is up to us.