On May 29, 3:26�pm, "HeyBub" wrote:
harry wrote:

So, you sell your bit of paper for 100 times as much? �Then the money
you recieve for it is essentially worth 100 times less. � It's only
worth more if someone somewhere has worked, created value.

Giggle

That['s
one reason why we have had our recent disaster. �This something for
nothing mentality. �We're just going to have to get back to the
industrial age where work counts. � The gov. in the UK has accepted
this and intends to support manufacturing and design.

If the UK is subsidizing manufacturing, then it has failed - and failed
miserably - to pay attention to one of its foremost economists, Adam Smith.
In 1776, Smith wrote a treatise entitled "An Inquiry Into The Nature and
Causes of The Wealth of Nations" in which he proved (and proved
conclusively) that nations should do what they do best and the governments
of these nations should NOT interfere with the expertise of competing
nations.

Specifically, if China can manufacture something and sell it to Britons
cheaper than Britons can manufacture an indentical product, the government
of the UK should stay out of the way and not: a) subsidize domestic
manufacturers or b) impose tariffs on Chinese products. By following these
two simple rules the citizens of both nations prosper.

Violating either of these rules benefits a small number of people (locals
producing the product at issue) and penalizes magnitudes more citizens who
have to pay more for the product.

Of course, Adam Smith was a Scotsman...

No, the idea is not to subsidise manufacturing. The idea is what we
do best. Innovation. The banking/commerce wheeze being such a
failure. We still do a lot of manufacturing in the UK.
The problem is the Chinese slave workforce. And the fact they hold
don't allow their currency to float. These sort of things never went
on in Smith's day.
They are bent on destroying the West. They don't care how many
Chinese have to die to achieve this. Given this, protectionism might
help until they desist.

Scots was he? Probably died of alcohol poisoning.