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Former chamber leader bins off 34 workers


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2 minutes ago, Southfork said:

Why do you think Jersey has borrowed £500M, why do you think we are cleared to borrow £250M?

Because it's sensible. And it's only money - an economic instrument, nothing else.

There is no economic crisis. The sky is not falling in.

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Jesus, how utterly miserable can someone be? How can you see things so badly? Loads of people are back at work, things are moving forwards, everything is going alright unless you own a hotel I guess.

It is a sorry story, because the aviation/aerospace sector is strategic for the island. But as much as I disagree with the whole lockdown policy etc; those companies are mainly affected by events that

This is why we really do have to look very seriously  at opening business up again. It would be truly awful if the most pernicious effect was the intended cure.  The virus is still going to be there,

1 minute ago, pongo said:

Because it's sensible. And it's only money - an economic instrument, nothing else.

There is no economic crisis. The sky is not falling in.

You really are astronomically misguided. 

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Posted (edited)
4 minutes ago, Southfork said:

You really are astronomically misguided. 

You seem to misunderstand what money even is. I've linked above to the excellent Bank of England article which explains it.

Money is not a finite resource. It's an economic instrument.

Here is the link again.

Edited by pongo
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Yes, but an economic instrument is based on underlying economic activity, ie value being moved between those who have it and those that want it. Money is only a token, which gives a widely accepted notion of the underlying value. If there is nothing underlying that token, it is worthless.  

Hate to be a doom-monger, but I think there are a few cracks in the sky and we need to recognise that.  This is not going to be a blip, potentially it is going to be the biggest re-boot of life that we have ever seen. 

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5 minutes ago, pongo said:

You seem to misunderstand what money even is. I've linked above to the excellent Bank of England article which explains it.

Money is not a finite resource. It's an economic instrument.

Here is the link again.

You have defaulted to this argument several times now. Is it the only text book that you have read inside out? You really do seem to like to to tell people what money really is. You must be a real hoot at parties. When you start talking about what money is that your wife’s trigger to call a cab? 

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5 minutes ago, Gladys said:

Hate to be a doom-monger, but I think there are a few cracks in the sky

It's going to be fine. If anything it will be a great excuse to pump some money into the system. And with almost zero inflation anyhow there is plenty of slack.

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4 minutes ago, pongo said:

It's going to be fine. If anything it will be a great excuse to pump some money into the system. And with almost zero inflation anyhow there is plenty of slack.

The big fear is deflation. 

If that sets in then life changes for everyone,  mostly for the worst. 

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Just now, pongo said:

It's going to be fine. If anything it will be a great excuse to pump some money into the system. And with almost zero inflation anyhow there is plenty of slack.

I wish and hope it will be, but when the state is paying out more than is being paid in, we have a problem.  What do you pump in, if you have very little to prime the pump?

I really hope I am wrong, but I have a terrible feeling that the lockdown is going to turn out to be an economic  disaster.  When the economy is a real disaster, then the human cost will be immense and there will be nothing there to alleviate it. 

 

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4 minutes ago, NoTail said:

The big fear is deflation. 

If that sets in then life changes for everyone,  mostly for the worst. 

True, but deflation is a symptom  not the illness.

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1 minute ago, Gladys said:

I wish and hope it will be, but when the state is paying out more than is being paid in, we have a problem.  What do you pump in, if you have very little to prime the pump?

Read that BOE article? That article also links to several others.

Britain has a very robust economy. The IOM is part of that.

Calm nerves :)

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Posted (edited)
46 minutes ago, TheTeapot said:

Jesus, how utterly miserable can someone be? How can you see things so badly? Loads of people are back at work, things are moving forwards, everything is going alright unless you own a hotel I guess. You're going to do yourself some damage if you don't cheer up a bit.

So says the poster who (amongst loads of others) seems to have posted three solid months worth of doom and gloom about how we’re all going to die from Covid and how we will all have to stay in doors for years and shut everything down until it all goes away :lol: 

Edited by Southfork
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Ok, Pongo, I will bow out.  I hope the articles come true.  I still find it hard to take comfort that borrowing while there is a damaged underlying economy is going to help.  I would much rather see the economy opened,  measures taken to protect the truly vulnerable, and we all assess the medical and economic risk to ourselves.  We have become very used to a safety net, but the new normal should be that the net ain't there any more. 

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7 hours ago, Southfork said:

So says the poster who (amongst loads of others) seems to have posted three solid months worth of doom and gloom about how we’re all going to die from Covid and how we will all have to stay in doors for years and shut everything down until it all goes away :lol: 

Come on man, who is posting the doom and gloom here? Oh,that's right, it's you.

I'm pretty positive, and considering the situation have been most of the time. I quite enjoyed the time off, I've spent a lot of the time educating myself, I've seen an awful lot of the beauty of spring, I've read books I've had in my get round to it eventually pile. Sure, the financial  hit has been a challenge, as has less time with the kids and not seeing my mates, but its ok, I'm back at work now, as are a lot of people, and the lockdown is lifting.

Sure there are things to worry about regarding the future, but the way the Island has handled the pandemic is generally pretty good, mostly down to the people broadly doing the right thing, and as such there should be confidence going forward. Not often I agree with Alf, but he''s right to emphasise what we need to do now, mostly trying to spend what money we've got over here. The economy will survive due to peoples behaviour, don't panic, shop local, think about what you're doing. If individuals can take a two month hit to their income then so can government.

We're going to be alright.

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