"The Natural Philosopher" wrote in message
...
hugh wrote:
In message
, Man
at B&Q writes
"The new official analysis, based on a report from the International
Monetary Fund (IMF), showed that Britain was running a so-called
structural deficit of 5.2pc in 2007 ?" far higher than the 2.5pc
initially stated by the IMF. "

MBQ
I don't think socialists understand structural deficit

s/structural deficit/wealth creation, money or economics/

Another brainwashed fool.

Brown in 2008 was spending about the same as Major in 1992 and far less than
Thatcher in 1983. FACT !!!!!!!

Brown spent about the same as Germany, France and Italy in bailing out their
respective banks.

Of course that was a dumb thing to do for all countries. They should have
paid off the debts of debtors - the negative equity part to equalize the
debt. That is what ancient civilizations did, who had highly stable
societies. All we did is tell banks that they are too big to fail so they
can go on being reckless and cream off the top paying themselves massive
bonuses.

Prof Michael Hudson, one the USAs leading encomists stated that the Germans
had a superior banking system set up in the time of Bismarck. It was
industry focused. USA & other western banks lend on securing property and
land with the means of production financed by the stock market. Over
securing on land and buildings caused the Credit Crunch.

In 1914 the west feared the Germans would win WW1 as they had an industrial
focused banking system. German industry would be more efficient as the
banking system was still there post-WW1. The industrially focused banking
system worked brilliantly for Hitler enabling the country to fight above its
weight. The UK suspended the stock market in WW2 and relied on a banking
system that was not equipped to deal with industry - the USA banking system
was no better. The USA largely dismantled the German system after WW2
stating it was Hitler's banking system, when it dated from Bismarck.

http://www.youtube.com/watch?v=mhT1UYfqRkg

Old habits die hard and the industrial focus of the German banking system
did not fully go away. Today Germany rode the Credit Crunch much easier than
others.

I know of companies in the north of England who would use German banks for
loans as they understood industry far more. The City of London would often
turn them down not understanding industry. The Germans did understand it
very well.