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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Oblomov who wrote (57552)	4/5/2006 6:23:22 PM
From: shades	Respond to of 110194

en.wikipedia.org I read about these guys - they were supposed to have the first well developed theory of economics - they tried to implement some george type stuff and fell flat on thier face eh? Look at the issues facing them hundreds of years ago - same as it ever was eh? Quesnay believed “a country should concentrate on manufacturing only to the extent that the local availability of raw materials and suitable labor enabled it to have a cost advantage over its overseas competitors.” Anything above that amount should be purchased through trade. Boy does that sound like china/amercia today?? Buffet says we are selling OFF the farm - not trading goods made on the farm! I remember all those games I played, war craft, heroes of might and magic, seven cities of gold, pirates etc etc - he who controls the spice - controls the universe - hehe.

To: Oblomov who wrote (57552)	4/5/2006 6:33:45 PM
From: shades	Respond to of 110194

I never knew henry george had such effect on british gubbment, laws and taxes. en.wikipedia.org The People's Budget was proposed by the Chancellor of the Exchequer David Lloyd George in 1909, and was a key issue of contention between the Liberal government and the House of Lords, ultimately leading to two general elections in 1910 and the enactment of the Parliament Act 1911. The budget included several proposals to pay for naval rearmament and old age pensions by raising taxes from the wealthy. Income tax was held at 9d in the pound, but a higher rate of one shilling (12d) was proposed for incomes over £2,000, and an additional surcharge or "super tax" of 6d was proposed on the amount by which incomes of £5,000 or more exceeded £3,000. An increase was also proposed in death duties. More controversially, the Budget also included a proposal for the introduction of a land tax based on the ideas of the American tax reformer Henry George. This would have had a major effect on large landowners and the Conservative opposition, which consisted mostly of large landowners, had a large majority in the Lords. Furthermore they believed that money should be raised through the introduction of tariffs on imports, which was claimed to benefit British industry. The House of Lords voted down the new budget, but the Liberals built on the unpopularity of the Lords to make reducing the power of the Lords the important issue of the general election in January 1910. The Lords subsequently accepted the Budget after the election when the land tax proposal was dropped, but contention between the government and the Lords continued until the government won a second general election in December 1910, and passed the Parliament Act of 1911. en.wikipedia.org The Lords voted this 1910 Bill down, so Asquith called a second general election in December 1910, and again formed a minority government. Edward VII had died in May 1910, but George V agreed that, if necessary, he would create 250 new Liberal peers to neutralise the Conservative majority in the Lords. The Conservative Lords then backed down, and on 10 August 1911, the House of Lords passed the Parliament Act by a narrow 131-114 vote, with the support of some two dozen Conservative peers and eleven of thirteen Lords Spiritual (who normally do not vote). The Parliament Act was intended as a temporary measure: its preamble recites: whereas it is intended to substitute for the House of Lords as it at present exists a Second Chamber constituted on a popular instead of hereditary basis, but such substitution cannot be immediately brought into operation. However, the Liberal government did not follow through with reform of the Lords, and the composition of the Lords remained much the same for another 50 years. Life peers were introduced in the 1960s, and the Labour government of 1997–2005 took the first steps to reform the Lords, reducing the number of hereditary peers entitled to attend and vote in the Lords, but as of 2005 the second chamber is still not elected.