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Brian O'Connor

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The Default Line: The Inside Story of People, Banks and Entire Nations on the Edge
The Default Line: The Inside Story of People, Banks and Entire Nations on the Edge
by Faisal Islam
Edition: Hardcover
Price: £14.18

2 of 2 people found the following review helpful
5.0 out of 5 stars What is the answer to the economic crisis?, 8 Oct. 2013
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This book takes one into detail that is not available elsewhere. It backs conclusions with facts. It is technical and that is what is required to understand the roots of the current economic crisis.

At the end of the book he offers 10 ideas to chew on and admits that they are all; flawed. He calls them part solutions.

For example, here are three of his 10 ideas. He suggests that:

1 MP's mortgage subsidies be scrapped and their pay raised.
2 the voting age be cut to 15.
3 we switch tens of billions of Pounds to mass building of houses ie bring sub prime from the USA to the UK

His ten ideas will not take us out of the economic crisis.

I would suggest that every penny is considered for investment in productive assets in the UK. How much longer can we go on with a trade deficit of £4 billion each month?

If you asked me for a solution I would suggest copying the best of the German and Chinese economies. For implementation of the German model we need MPs who have skills in engineering, electronics, maths and science. We need MPs who have worked in manufacturing. I suggest that a background in public relations is the last qualification to be considered for our parliament,.

What really annoys me is to see massive ships with thousands of containers from the Far East entering our ports and the same ships leaving empty or full of scrap paper etc.

A background point.......when driving a visiting Chinese businessman along an English road (every road) he asked me where are the factories......where are the farms?

This book is very good at describing what happened it is weak on suggesting solutions.

Brian O'Connor

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