Which is more important now: political reform or the economy?

[FrakkinTheReturningOfficer]

Political reform is going to be bad for the economy, in the short term at least.

Sorting out the economy probably means putting political reform on hold.

Which would you choose?

What is more important/ for whom is it more important?

Surely political reform can happen, as well as trying to sort out the economy ? Can no-one multi-task whilst governing a country?

FOP one can multitasking but

1. political reform creates instability that the markets don't like
2. if one side offers you PR and the other offers a concrete plan for the economy who do you choose
3. what is the first policy you debate when you get into parliament

I find it interesting how many people here have said that political reform should have a higher consideration than the economy because my natural inclination would be to pass a lot of unpopular (with the voters) policy designed to sort out the economic situation under a coalition than start tinkering with the political system.

TBH if people (politicians) can be grown up about this I'll be more inclined to think PR is a viable possibility but if they can't sort it out do we have to go through this every 5 years? PR is far more likely to result in the kind of consensus politics we need politicians to start using now. Are we ready for that?

A Govt (president) should be able to walk and chew gum...wise words from Dubya Bush

FrakkinTheReturningOffice - the people who shout loud about market turbulence are the vocal minority who have much to lose. Who is there to shout loud about the stake that the silent majority have in public services and jobs?

No bankers in this household. 1 FT employee of the state, 1 PT (PT private sector) - admittedly the French state currently but even if we were back in tge UK and I wish we were I'd be just as concerned about the economy. Possibly even more so because at some point we will have to make cuts and when we do they'll be big, which puts our jobs at risk and reduces the amount of cash we have available to do our jobs.

If the country itself has no money we don't get paid! We have to stop borrowing, cut the deficit and increase GDP. Public sector workers are just as affected by this as the next person.

FrakkinTheReturningOffice - agreed that spending the books need to be balanced. The question is about timing.

Also, we shouldn't be forced into a ConLib coalition just to fix short term market turbulence. Many of the commentators talking about market turbulence are "spivving and speculating* and making money from the turbulence...I admit that I made a few thousand in the last week or so ...just messing around.

What were you betting on Tdidders?

Nothing fancy, sold GBP and Eurs against USD.

I also shorted FTSE but closed my position out too quickly.

?????

I need to learn how to do this before Monday! We won't have any answers before Tuesday at the earliest so maybe I can make some cash...

Don't think my class would appreciate me interrupting a lesson to cash in though.

Shorting the FTSE with an ETP?

see here but be careful to know how much money you are betting investing.

You can set limit/orders so that you can auto-pilot. YOu need to do these carefully especially in volatile markets. happy to talk anyone through just be careful not to invest more than you can bear to lose!

Coolfonz, I sold the September FTSE future and then bought it back; in the jargon, I went short.

TDiddy - how much money do you need to have to play invest?

I am completely clueless but probably should learn a little more about trading currency!

You want to be very careful. THis stuff is like buying a house. You only need about 10pc deposit. So I think you need about 1k to make 10k trade. I think that is the minimum. But if you only pout down 1k deposit and the market drops 10pc then you lose your 1k just like that!

So I tend to put down a higer deposit and set wider "loss limits".

Very efficient way as gaining exposure to oil, currency, shares, gold etc.

or you can play

here

It's not actual buying/selling but betting the markets.

But you do have to be careful because when the markets are volatile it can be easy to predict the wrong way. The £ vs $ was like a yoyo on Friday - down 50 points then back up 30 then back down then back up... and then big jumps. So while there is money to be made you need to be sure you're not betting with money you can't afford to lose.

and it's tax-free, although I've never made enough for that to be relevant.

gobsmacked that this thread has taken a turn towards market speculation!!!

i should have bloody bought barclays shares when the crash happened but didn't (couldn't shake that apartheid past in my head)...would have made lots of filthy lucre..

are we all hypocrites and given the incentives that young gun bankers do would we do the same? this is why i dont feel their evil but do feel that the system is pernicious.

yes and betting against the euro...that's gotta be helping confidence right?

There is often an element of speculation in our "investments"? Even house buying.

I started using internet brokers when I had exposure overseas assets that I wanted to manage/hedge the currency risk. Now I have less currency risk and I use it to speculate but also to invest. It is a very very efficient and immediate way to invest/speculate: the fees are minimal (just bid-offer spread), I have control and transparency and it is tax free !!

We cannot disconnect ourselves from the capitalist economy. I have no problem with those who accumulate money, I only ask for some measure of social justice and fairness for those with less access and less life chances. Most of us have had good fortune with life chances...when I vote, I think about those who are more vulnerable than me and the people that I work and socialise with.

Didn't really want to start a thread saying.."I made a few grand playing the fx market" as I don't think it is particularly of value or relevance. I only made light reference to it above in passing.

i think that's a bit harsh lenin...tdiddy isn't talking about making money on the markets in the same breath as his nondom status!@! he wants to pay more tax don't you didd?