So much for George Osborne being a lightweight...

[simmo]

That is why when Unions (as I think inevitably will happen) think that they are going to come out on mass strikes over a for e.g below inflation pay rise, (or what is happening in the present BA strike) do not be surprised if there is not much public support for them in the present economic climate.

A bit like this, it's good to see that the RMT aren't taking the p1ss by calling a strike on the tubes on the day that England are playing in the World Cup, same old, same old.

BBC News - Two 48-hour Tube strikes called by RMT union

 

[El Presidente]

Well, that's a matter of opinion. What was needed was credit to be available to businesses.

Given that the problem globally was caused by irresponsible lending, and a poor assessment of risk, then surely your solution of increased lending to business would only make the problem worse?

 

[El Presidente]

Well, that's a matter of opinion.

Your policy of non intervention is the same taken by the major economies in the 20's and by Japan in the 90's.

The first led to the rise of Hitler, and the second a decade of zero growth.

 

[Chicken Runner61]

We may still be f****d - its too early to tell but I was always led to believe that the cut would start after the Election and even Brown & Darling would have made them.

As much as I thought Brown was inept I do think he called most things right and you know what I think Government figures may be 6-8 months out of date.

It might just be Brighton but I have seen some recovery in most areas and maybe, just maybe things are beginging to get better.

If that is right I think Brown might just deserve a little of the credit that he won't get from most people and it will be totally wrong if that twat Osbourne gets any undeserved praise.

Also if the Tory cuts go too far they might stuff up the economy further and cause a bigger recession.

 

[larus]

Given that the problem globally was caused by irresponsible lending, and a poor assessment of risk, then surely your solution of increased lending to business would only make the problem worse?

It was lending to buy 'assets' which weren't worth the money, and then when this started to implode, the credit-market froze. The knock-on effect was that businesses were having their overdraft facilities cancelled (even though they could pay), which impacted cash flow. A lot of businesses which go bust do so due to cash flow, not due to profitability.

What is questionable is whether there was a need to print money and waste it.