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Money v Making Stuff-Should Britain bid farewell to the golden egg of banking.
Jeremy Bosk
Posted: 21 August 2011 17:01:01(UTC)

Joined: 09/06/2010(UTC)
Posts: 1,316

Tony

I don't mind people disagreeing with me, although I prefer reasons. I don't get too upset about bizarre beliefs when sincerely held. There is no accounting for taste. What gets to me the most is persistent changing of stated beliefs to conveniently fit the current argument. General woolliness comes second. I don't think the Prof is fully aware of doing it. I give him credit for sincerity. Which is why I try not to be upset. Sometimes I fail.

Some examples: I have two Christian fundamentalist friends who believe in creationism, that God made the world in six days. One holds a PhD and still does useful research, the other is retired after being a good administrator for many years. Both are personally kind. Since they are such strong believers, I often introduce Biblical quotations into our conversations. As is usual with true believers, they are unfamiliar with their own text book. It is so much easier to swallow the pre-digested pap spouted by their sick and twisted preachers. They know I am atheist, I have asked them were they dropped on their heads as babies? We get along.

Another friend is a hard working, honest, kind and generally sensible British born Muslim. She is horrified by the violence committed in the name of Islam and while admitting that her ancestral homeland is a dangerous place, says, "It is so beautiful and none of my family would do anything like that". While I accept her sincerity, I have asked her to feel her skull for bumps and dents. She reports no such evidence in support of my theory. We get along.

Many years ago I had a Christian friend, honest, hard working, had a good job and was a Sunday School teacher. He put up reasonable arguments for the No camp in the EU membership referendum. We spoke in public debates on opposite sides of the issue. He was a little bit extreme on the Northern Ireland question. After a young relative of mine who served in the British Army was murdered by the IRA, I was not really in the mood to question this. One day when I was having a rant along the lines of "shoot the bloody lot", he offered to take me to Belfast and introduce me to someone who would give me a gun. I was so astounded that I did not take his offer seriously. I believed he was trying to shock some sense into me. A few months later he was arrested and subsequently given ten years for terrorist arms and explosives offences. He actually did bump his head playing football and underwent brain surgery. Which was not enough for him to plead insanity. We no longer get along.

I agree with your last paragraph.

Since the three of us are by far the most prolific contributors, we can allow ourselves to go off topic if we want. Or we could start a new thread. Services or manufacturing was never an either / or alternative and we have done the arguments to death.
Moylando
Posted: 21 August 2011 21:10:01(UTC)

Joined: 08/09/2010(UTC)
Posts: 28

I must confess to a bizarre fascination with this thread and am only partly pleased to see that the last contributor believes that the arguments have been done to death. What a slow death it has been with tortuous language and expressions to reinforce prejudices that appear almost manic. Where in this debate about comparative advantage did " swallow the pre-digested pap spouted by sick and twisted preachers come from " ? and what about " changing stated beliefs to conveniently fit the current argument " Surely the problem here has been that no-one has changed their beliefs - they've stuck with them in spite of the arguments !
For enlightened thinking I score this thread 1 out of 10. For sheer entertainment I give it the max.
For what it is worth my take on the original proposition is that whether it is made goods or services we have priced ourselves out of the market and the market is not having any of it. A painful readjustment to a lower standard of living is on the way. Globalisation has done for us. We wanted all the upside - cheaper stuff on cheap credit for a short time but couldn't be arsed to put anything in place for when the inevitable happened. The only only hope is that we rapidly develop our skills in areas where we could conceivably compete. Bail outs to banks which hasn't worked in fact has backfired could have paid for it. Should we raid the Trident piggy bank ?
Jeremy Bosk
Posted: 21 August 2011 22:55:13(UTC)

Joined: 09/06/2010(UTC)
Posts: 1,316

Moylando

The tortuous language is to be precise where nit-pickers either by accident or design seize upon any ambiguity to try and cast doubt on anything and everything previously said. It is why business contracts are so often inches thick.

The "swallow the pre-digested pap spouted by sick and twisted preachers" comes from an attempt by me to refute the expressed opinion that I am intolerant of opposing beliefs, however weird. Since everybody who is not a religious fundamentalist believes that religious fundamentalists have weird beliefs and most agree that they become weird by listening to sick and twisted preachers: my having friends who are fundamentalists is a good argument in refutation of the accusation of intolerance.

I do not care that they have bizarre beliefs, so long as those beliefs are sincere and they do not start killing people. Some people like to believe in things no fully rational person could believe in, some people like to eat at McDonalds or listen to rap music. There is no accounting for taste.

Again, I use a convoluted argument because some person or other will otherwise attempt to twist my words and meanings.

I think engineertony has changed some of his opinions. Whether anyone else has I do not know. However the debate has helped me clarify my own ideas, so from a selfish point of view has been worth it.

Other people have changed their stated beliefs quite frequently and conveniently: which was the burden of my complaint that caused others to accuse me of intolerance. Whether stated beliefs coincide with actual beliefs in such a case is unknowable. Let me repeat that I welcome people genuinely changing their minds in response to new facts or deeper reasoning. Changing their stated beliefs as a matter of convenience in a particular argument is, I would suggest generally undesirable. My mention of it comes from its frequent occurrence in this thread.

I will repeat for your benefit that there can be a difference between stated belief and actual belief. Have you never listened to a politician?
engineertony
Posted: 21 August 2011 23:43:31(UTC)

Joined: 24/05/2011(UTC)
Posts: 71

Oh yes...

I'm open to any ideas (new or not) about finance, this thread has made me think about a mysterious subject which has so many variables and unknowns that learned professors can't agree. I have to simplify it to my basic comunity in the wild west, just chased off the natives and setting up a town where they all need to pull their weight, each with his own skills and abilities. I have to admit being super prejudiced by a poverty stricken upbringing in a Northern town, an obsession with how things work, and with brains enough to climb out of it.

Moylando

Must object to the term "we". I don't want to be included in the "we" that wanted cheaper stuff on credit, or the "we" that priced ourselves out of the market. My skills are in areas where we could compete, I've had years in both heavy engineering and electronics, robotics and automation, from the tools to project management. Margaret Thatcher had other ideas when massive investment and incentives were needed in these areas, I wasn't part of the "we" that closed down British engineering, neither was I part of the "we" that's giving my 12 & 13 year old girls 3 periods of gym and 1 period of technology a week, with uncontrolled bombardment by media manipulators trying to get rich at any price. I think you'll find that the "we" you mention are the jokers who I keep having a poke at on this thread. I'm sure the recent street rioters don't see themselves as part of it either. And I'm not sure who is going to "make the painful adjustment to a lower standard of living", but I could guess.
Jeremy Bosk
Posted: 22 August 2011 01:35:21(UTC)

Joined: 09/06/2010(UTC)
Posts: 1,316

Moylando

Regarding your second paragraph: what engineertony said.

It is not globalisation that has done for us, it is the refusal to learn the global lessons. We could get better government, better schools, better public transport, a better health service and so on. We just need to look at how the most advanced foreigners do it. That usually means looking to Northern Europe and sometimes Canada, Australia and New Zealand. It hardly ever involves the currently fashionable adoration of Uncle Sam. Just as the Japanese, Koreans, Chinese and so on copied western manufacturing techniques and then improved them. engineertony has made his living from globalisation. So does much of this country and it has done since the Stone Age. Yes really, look at the Time Team website.

Plus: to your question on Trident, the answer is plainly yes. It will be a drop in the ocean, but a start.
Anonymous Post
Posted: 22 August 2011 13:24:50(UTC)
Anonymous 2 needed this 'Off the Record'

Been busy, but hope to rejoin you soon.
As part of my diversified portfolio I have a property that is let.
In the last few days have been trying to sort things out for the digital TV switychover.
On top of that had a shower fail, got a mouthful over it, as I could not get the parts. Finally on Sunday morning I put in a new shower. Fortunate that I have shop floor experience and still hold a Union Card. Otherwise it would have cost me a fortune.
Whilst on the aerials I discovered that the chimneys needed attention, sorting this out to-day.
Oh for the joys of being a landlord.
Seems only in the case of one service provider(landlord), customers (tenants can rip you off, demand instant solutions to problems, trash property, etc and be allowed to get away with it). Seems the only service provision, where the reverse services logic aplies.

Prof Eman
Jeremy Bosk
Posted: 22 August 2011 15:38:27(UTC)

Joined: 09/06/2010(UTC)
Posts: 1,316

Prof

I am glad for your tenant's sake that you do not simply let your property fall to rack and ruin, either in despair at making an honest living from it or because there is always someone desperate enough to live in the worst slum. Living in an area that is increasingly dominated by buy-to-let, I have watched over the last twenty odd years as it turns into a slum. The respectable working and lower middle classes have been replaced by students, single parents not far enough along the social housing ladder, the newly divorced, the mentally ill, the alcoholics and the junkies. Your less scrupulous fellow landlords will help the dregs of society to destroy you. Sell up and buy shares or collectables such as stamps and coins while you can.
Anonymous Post
Posted: 23 August 2011 12:26:50(UTC)
Anonymous 2 needed this 'Off the Record'

Dear all
Have just come across this in Citywire Tuesday Papers
"Company taxation should be reshaped to discriminate in favour of manufacturing in order to rebalance the economy, according to Jim McColl, one of the richest men in Scotland."
More support for manufacturing.

Prof Eman
Jeremy Bosk
Posted: 23 August 2011 16:02:02(UTC)

Joined: 09/06/2010(UTC)
Posts: 1,316

Prof

There were two sets of newspaper stories summarised in today's Citywire. That is leaving aside the specialist sections on precious metals and other commodities. Given how slow loading this site is, you could have saved all those interested in learning more a lot of time by saying which one you meant. Stating which newspaper the original quotation was from would have saved us even more time. On another occasion when I mentioned this unfortunate habit of yours - not properly quoting sources or giving URLs - you said you were too busy to do so. You are too annoying as well.

For those who care about the original source and want to know more, it is on FT.com. You can register with the FT to read 30 free stories a month and not be bombarded by spam.

http://www.ft.com/cms/s/...bdc0.html#axzz1VrcoEWLI

It is an interesting story and thank you Prof for so cack-handedly pointing us to it.
Anonymous Post
Posted: 23 August 2011 21:38:00(UTC)
Anonymous 1 needed this 'Off the Record'

Jeremy Bosk
As I pointed out previously have been very busy over the week-end.
Since I also mange a B&B my time is very scarce.
As such I quickly flipped through the morning Citywire and noted the comment I passed on to yourselves.
Will read it in a few minutes, it does seem interesting, particularly in the scenario of a possible double dip recession.
I assure I am not trying to annoy you, and indeed would like to thank you from all of for giving the URL.

Kind regards
Prof Eman
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