Prof Eman;46953 wrote:First we had conservatives sell the family silver, called it privatisation. Labour continued it.
The majority of what was sold constituted a money pit whilst in public hands. Politics got in the way of active management and necessary investment was hard to justify.
Personally, I think that the privatisation (and later sale) of the building societies by Boards and members was much more malign.
Performance of most of the privatised industries has been much better since their sale.
Keeping them and making them perform better in the public sector might have been a better trick, but not one that governments have been good at.
Prof Eman;46953 wrote:Labour also sold the family gold.
Well, 'sold' is a word for it; at the time, most thought GB had virtually given it away.
Prof Eman;46953 wrote:Next we had the coalition, continuing the privatisation, plus cuts.
Not really true. Massive nationalisation of the banks with sales of other assets to help pay for the nationalisation and massive borrowings.
And much though our politicians can be blamed for the insufficient regulation etc, the same problems were there throughout the developed world. And rather than simply having cuts there was also QE; unlike the EU.
Prof Eman;46953 wrote:Then came conservatives, gave us Brexit,
Again untrue. Offered the opportunity for Brexit, but it was voters who decided to go for it - all political parties, apart form UKIP, were against.
Prof Eman;46953 wrote:Brexit, This resulted in a sharp fall in the value of the pound resulting in foreigners buying up our companies at a discount. Called inward investment of which we should be proud. The only problem with this is that these foreigners are likely to export the work abroad to cheaper wage areas.
Sharp fall in the pound - true, but only partly because the £ is still higher than it was in the financial crisis.
Foreigners buying our companies at a discount - well no. Companies have often been sold to foreigners and there is only a discount if you think the £ should be higher. If you think it should be lower, and that the UK's future is grim, then we're stealing money from them.
And not many companies have changed hands (yet). And how many of those that have been sold are able to export jobs? ARM? It's mostly IP companies that have gone, not a lot of jobs to go to cheap wage areas.
Prof Eman;46953 wrote:
Why should I vote and if so how?
I was lost for words. Can anyone suggest an answer?
Advise him not to. That means he can blame all the dumb voters for anything the government does that he doesn't like, like his friends do.