[John Whitworth]

Well we do have an election coming up. It may not mean much to you, but it's ours. Over in a week though.

[James Brancheau]

Oh come on John. Cuba? I just wanted a reasonable argument from the other side. I'm left wanting. But omg Cuba? Wonderful move by Obama.

[John Whitworth]

Have you been to Cuba? Nice place and it would have been even nicer if America hadn't been so keen on assassinating Castro (not much good at that) and impoverishing the people. The really horrible Cubans all live in Miami, gangsters and the sons of gangsters.

[Michael Cantor]

Originally Posted by E. Shaun Russell

"And then the thought occurred to me: Eratosphere needs another thread about politics!" - said nobody.

It's not about politics. It's an attempt at entertainment. It's about John saying whatever blather comes into his mind, but being sure to scream "communist" now and then to keep the troops entertained and get some feedback; Allen seizing on one more opportunity to spout nonsense; Tim waving his Boris Johnson banner - and everybody else either ignoring it or sneering.

The problem is that we have an election campaign already started in the States, and there are so many fools scrambling to get to the right of each other - and looking so absurd in the process - that there is nothing that our Sphere colleagues can say (and I hope I'm not proven wrong) that would be as entertaining.

[ross hamilton hill]

John, have no idea about your domestic politics except that austerity measures loam large in the debate.
The guy I stayed with in Greenwich (London) was a banker, a economic statistician with an MA from Penn Uni in the US. He was also brahmin but that's another story.
Anyway to start a conversation I mentioned the only economic fact I knew that was vaguely interesting and said " I've read that finance is 97% debt."
My host laughed and said "It is more like 300% debt." He then elaborated by saying most debt, most borrowings is not real money, simply numbers that the large institutions lend without the actual money or gold to back it up.
I said to my learned friend, so that's at the root of the GFC and he said "It could happen at any time, the whole thing could come crashing down again."
This was a banker, not some leftie, but I was rather shocked and given the UK has huge national debt I just thought I'd mention it.
The US also has more than huge debt. I wonder if we have somehow lost the plot when it comes to basic, sound economics, it seems strange that both America and the UK, both successful first world countries, have this problem.
Gov. debt is usually at around 2.5% interest, not a huge rate but still if the debt is never actually paid back, as in the US, what a waste, or does it all just go round in circles. I don't know.

[Roger Slater]

Well if some guy you met with a masters degree says we're in trouble, you really ought to alert the government. Does anyone else know about this?

[Allen Tice]

Originally Posted by Michael Cantor

It's not about politics. It's an attempt at entertainment. It's about John saying whatever blather comes into his mind, but being sure to scream "communist" now and then to keep the troops entertained and get some feedback; Allen seizing on one more opportunity to spout nonsense; Tim waving his Boris Johnson banner - and everybody else either ignoring it or sneering.

I agree completely, except that it clearly is about politics, and is sneaky but all too scrutable.

[ross hamilton hill]

I think all governemnts worry about debt, the Australian fed. gov. has made it its primary goal, and our debt is not huge, nowhere near the UK's or the USA's and yet our gov despite making it very unpopular is determined to get us out of debt, so presumably they know how dangerous it is, that's why in the UK the Cameron government is trying to reign in debt, but of course the people don't like to be told they have to do it tough. And there is always some political opportunist who says they don't need to, but debt drains a country of its income. Anyone who has been in debt knows how pernicious it is.
And when we talk about debt it isn't just govt debt, it's all debt, have a look at some of the debt clocks available on line.
I'm not an economist nor have any knowledge of finance so I am just passing on what someone who is both, told me, make of it what you will.
My analysis is that it has unbalanced captitalism, robbing the middle class of upward mobiltiy, concentrating wealth in the hands of the super-rich and super-rich countries, like Germany, Saudi Arabia , Switzerland, Singapore, Luxemburg and many others and most importantly China.
Some say the rot set in when the gold standard was abandoned. I don't know but I think it's interesting.
Here's a link to the USA debt clock,
http://www.usdebtclock.org

[James Brancheau]

I teach composition, intro to Western literature, and esl at a university here, Gail. I never expected to be here so long, but Taipei is wonderful. My mother is getting up in years and I'm starting to feel guilty about being away for so long, so I'm sure I'll make my way back. If anyone can get Warren to run, maybe sooner than later. And John, if you're ever in town, we can talk politics over some steamed dumplings. China's not at all popular here.

[John Whitworth]

Ross, you are on the button. Our debt is frightening. The people over here imagine they have suffered from austerity, children without shoes etc etc. Utter crap of course but we have become a soft, self-pitying lot. I am ashamed to be English some days. Next week we will wake up to find ourselves governed by Glaswegian slobs. Serve us bloody right.

James, thanks for the invitation. Nobody likes the Chinese much, do they?

I wish we had a politician of the intellectual stature and general decency of Tony Abbott. Though I don't know what you think about that, Ross.