US facing long recession

[DimPrawn]

Try and be logicial. If the British ( and Yanks, and everyone really) are not buying cars and plasmas, that will lead to the total collapse of the German and Chinese economies as Britain does not make that many cars and plasmas anymore.

China has trillions of $$$ in the bank. It can survive a collapse.

Britain however has trillions of £££ of debt. Once people stop buying, the import companies, retailers, warehouses, shops all go bust.

[sasguru]

So if I've understood correctly the UK will import its way out the crisis.

Nice one.

Nah. All Western countries are living beyond their means i.e. value-added in manufacturing and services doesn't cover what they pay themselves.
The UK has reached this point of post industrialisation first - what happens here is a template for the rest of Europe and America.
I suspect we'll become a banana republic with most people employed in the public sector.

[sasguru]

China has trillions of $$$ in the bank. It can survive a collapse.

.

No it can't. Those trillions has to be spread among billions. And they're getting restive. My prediction is China will have huge internal problems.

[expat]

Nah. All Western countries are living beyond their means i.e. value-added in manufacturing and services doesn't cover what they pay themselves.
The UK has reached this point of post industrialisation first - what happens here is a template for the rest of Europe and America.
I suspect we'll become a banana republic with most people employed in the public sector.

We have already become