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hump101

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hump101 last won the day on April 7 2019

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About hump101

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    Brittany, France
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    Naval Architecture structural engineering, speedsailing, offshore racing

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  1. Wine stats seem to be a bit confused. According to wineaustralia, Oz is the second by volume, at 1.5 billion litres, and fourth by value, as you say, but they also claim that they export $4 billion worth to the UK. Other sources say the UK only imports £3.3 billion ($4.2 billion) in total, with $2.7 billion from the EU, and the remainder from the rest of the world, so even if all the remainder was from Oz, that is only $1.5 billion, not the $4 billion quoted by wineaustralia. In any case, Latin America exports more wine to the UK than Australia does, and New Zealand exports a similar amount, i
  2. The actual data up to 2020 is here. France is the largest importer of wine to the UK, closely followed by Italy, with Australia, New Zealand, and Spain all fighting for third, but at only half the values of the top two. That makes Australia's share about 15% of the total.
  3. Looks like Wayne has thrown in the towel trying to defend Brexit and is now trying to kill this thread instead.....
  4. Yes, and with negative central bank interest rates, you also make a profit on what you borrow!! Must be great being in finance.......
  5. That is the interesting thing, since the 2008 crash the French debt/gdp has increased only slightly, whereas the UK, for example, with a policy of austerity, tripled, and both are now at similar levels, so the burden down the road for future generations is not proportionally increased. Meanwhile, the French have a decade of repaired/upgraded infrastructure plus a retrained and now experienced workforce to show for the small increase in debt/gdp ratio. In the UK, not so much, so where did all the huge amount of borrowed money in the UK disappear to?
  6. Agreed, printing money is one way out of this level of debt, a second is cronic inflation, and the third option is both at the same time! I think the rather casual attitude towards debt levels might change a bit if interest rates rise to try and combat inflation. We shall see which way it goes. Nevertheless, having an economy in which the state has a high degree of control is more resilient in changing times than one in which the markets dictate everything, and the French decision to spend its way out of the 2008 crisis is looking pretty good right now.
  7. Agreed, but the companies will continue to be productive, and thus the pension bill is offset by continued earnings. You can look at this two ways, either as the state being large but with additional funding streams, or the state being effectively smaller without them. Either way, the burden placed on the French economy by the large size of the state is not the same as it would be without these intertwined industrial entities. Debt to GDP in France has been high for a long time, but the economy has been shown to be quite resilient so has not seen large increases unlike many other over the
  8. Not disputing that French debt to GDP is horrible, but unfortunately also typical of more and more nations these days, including UK. An example of a French state company is SNCF, which is a part of the French state but has €35.1 billion/annum (2019) of sales in 120 countries, employing 275,000 people. Being state-owned their net profits hover around zero, a major benefit of state ownership for their French customers, but they make good profits on the overseas components of their portfolio which all flows back into France. They've had a big hit in the COVID crisis, like all public transpor
  9. Actually wrong. France has a large state sector because the state sector runs industries that are private in other countries, but those industries in France fund themselves, and also run similar services in other countries for profit, so the economic impact of the large state in France is not the same as in, for example, the UK, where the nearly as large state sector is entirely funded by tax from the private sector.
  10. You are mixing up two completely different scenarios. Sailing with enough heeling moment to skim the windward hull means having all the displacement plus vertical sail forces on the leeward hull. Sailing with a foil under the windward hull to lift it enough to skim has the same displacement on the leeward hull as if the windward hull was in the water, with the foil carrying the windward hull's contribution to displacement. The drag reduction will be the difference in drag of the foil compared to the windward hull. Thus if you have a hullform that is optimised to skim the windwar
  11. Wrong again. My views on the breakup of the Uk are unchanged for 20+ years and have nothing to do with Brexit. Brexit is just facilitating it by justifying Scottish independence with the benefit of renewed EU membership, and forcing it in the case of NI.
  12. You need to define demise. Economically, absolutely not, it will be a disaster for too many people both within and without the UK, including me! UK may have dropped to 10th country by GDP (PPP), but I don't think it will drop much more, if at all, as fundamentally everyone has to eat, heat their homes, etc., which should keep the economy ticking along. Structural demise is another question, and one that I have less strong views on. I think NI independence in some form (probably reunification) is inevitable, whether one is for or against it (I'm for), and Scottish independence is even more
  13. Well observed, see above, where evidence is just dismissed out of hand without providing any contrary evidence. An interesting notion of what constitutes "debate", but I guess par for the course from those supporting Brexit. Perhaps Jambalaya should be advising the government instead of the authors of the parliamentary briefing paper. Though perhaps not, if he thinks that filling places with UK students who've been given A levels and will fund their places by UK debt is the same to the UK taxpayer as importing £440m from overseas. We need to wait for the data on the 2021/22 intake of over
  14. Provide evidence for this, or retract it. The UK governments own report states that the UK was netting £300m per year from Erasmus, as I cited previously. Where do you read that they are wrong?
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