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homo consumericus?

  • 27-05-2009 10:40am
    #1
    ionix5891
    Closed Accounts Posts: 1,033 ✭✭✭


    another article by David mc w this morning

    http://www.independent.ie/opinion/columnists/david-mcwilliams/borrowing-is-only-going-to-dig-us-into-deeper-hole-1751681.html


    have we been turned into sheep grazing on mindless shopping fertilized by credit?

    this is interesting
    ... the difference between a recession and a depression and the British authorities know it. They are printing money when possible and borrowing to keep the show on the road.

    Sterling has been allowed to collapse and there is no sense that they are worried about it falling further. In short, they are trying to borrow their way out of a recession that was caused by too much borrowing in the first place.

    But the real test is in the government bond markets. Are they prepared to accept our IOUs yet again? Hardly, which is why a crash in the global bond market in the months ahead is probably going to mark the next phase in the first Great Recession of the 21st century.

    seems his now predicting a bond market crash, tho its hardly original and hes following in footstep of other economists/historians such as Nial Ferguson who are predicting that Ireland will be the first to go bust
    http://www.guardian.co.uk/books/2009/may/25/hay-festival-niall-ferguson


Comments

  • #2
    djpbarry
    Registered Users, Registered Users 2 Posts: 13,104 ✭✭✭✭djpbarry


    I got through about three quarters of that article before I eventually got tired of pointless descriptions of shoppers. That piece of writing serves no other purpose than to fill column inches.


  • #3
    ionix5891
    Closed Accounts Posts: 1,033 ✭✭✭ionix5891


    djpbarry wrote: »
    I got through about three quarters of that article before I eventually got tired of pointless descriptions of shoppers. That piece of writing serves no other purpose than to fill column inches.

    yah thats what this guy usually does

    it only gets interesting near the end, which is gleamed over


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