the Elephant in the room

[elbowpatches]

the real elephant in the room is the complete failure to plan for energy needs in the next decade, following policies directed by a certain Miliband. if Osborne wants to salvage something from his tenure, he needs to commit to a massive programme of power station construction, coal, nuclear and renewables like wave, solving both energy and growth problems in one stroke. doubt he has the balls or vision for this.

I doubt it either but it is a fantastic idea. Just wouldn't benefit the politicians in the short term. The ones who supposedly run our country for us.

 

[somerset]

I have the same handle as everyone ie the economy is tanking, AAA is gone, borrowing is up, and no growth on the horizon and policy u-turn after u-turn. Are you going to tell me something different?

....and how is this different to most of the western nations at present then?.... you talk as if we are some special case that would buck the worldwide trend of stagnation and recession if Labours utopian view of spend and borrow until we squeak is implemented.

 

[Herr Tubthumper]

AAA rating was lost a long time ago when Labour was spending like there was no tomorrow.

Oh yeah, and the credit ratings agency just sat on this until they decided to announce it yesterday? You're talking shit.

 

[vegster]

Don't you sell the family silver when you are hard up? Selling gold reserves during the boom years was ridiculous and indicative of a buy now pay later mindset. It may be a "drop in the ocean" but showed a total lack of forward thinking. It was almost like Labour knew their time was up so pawned / spent everything they could. Political parties generally have short to medium term policies, including the Tories, which is one of the reasons we keep making the same mistakes time and time again. There is no long term plan or strategy because that might help the opposition. They ALL want quick fixes and instant results. AAA rating was lost a long time ago when Labour was spending like there was no tomorrow.

The gold was the only thing Attila the Hen didn't sell, Water, Gas, Electricity,Steel The rail network even the buses.By selling them off she was able to offer tax cuts as a bribe to stay in office, when she ran out of things to sell her time was up.

 

[Herr Tubthumper]

....and how is this different to most of the western nations at present then?.... you talk as if we are some special case that would buck the worldwide trend of stagnation and recession if Labours utopian view of spend and borrow until we squeak is implemented.

Clearly most countries are struggling but the UK is struggling more. By most economic measures, we are near the bottom when compared to g7 nations.

 

[Herr Tubthumper]

The gold was the only thing Attila the Hen didn't sell, Water, Gas, Electricity,Steel The rail network even the buses.By selling them off she was able to offer tax cuts as a bribe to stay in office, when she ran out of things to sell her time was up.

There was still the railways but her successor managed to sell that off, and turn it into a laughing stock

 

[Seagull58]

another point here is have you tried getting a mortgage lately ......they are around but only if you can put down a huge deposit so not only are the government doing us over so are the banks some might think there is some collusion here.
banks trying to screw over the banks in the USA by buying their bad debts and shite mortgages getting the government and us to bail them out and then repeating history by screwing us over again
and I know I keep on about it but thats one thing I did'nt like about Brown was the fact that when he had the banks by the short and curlies he did not nationalise them

Brown - the chancellor who abolished Boom and Bust and replaced it with Bust

 

[Lethargic]

Clearly most countries are struggling but the UK is struggling more. By most economic measures, we are near the bottom when compared to g7 nations.

How is that 4 of the 7 lost their triple A rating before us? The rating is overhyped by the media to wind up the masses something the media love to do, we are buggered with Labour as much as we are with the Tories we're all doomed.

 

[Butch Willykins]

we are buggered with Labour as much as we are with the Tories

Absolutely this. Labour would be doing no better if they were still in charge.

 

[Beach Hut]

Clearly most countries are struggling but the UK is struggling more. By most economic measures, we are near the bottom when compared to g7 nations.

Are we though ?

Look at Spain for example 25% adult unemployment and 50% youth unemployment.

 

[Adders1]

Doesn't actually mean anything, I worked in corp finance for a few years, and the debt rating system is fundamentally flawed in many, many ways - haven't done too much research on the UK downgrade as I live in NZ now, but suspect it is related to our weakening currency, which will actually be beneficial to our exporting businesses.

Don't forget, Lehman Brothers were considered Investment Grade by S&P, Moody's and Fitch the day before they collapsed in 2007. A one notch downgrade really doesn't mean a thing.

 

[Adders1]

This.

 

[franks brother]

Funny watching the Tories back peddle. AAA credit rating not that important after all

 

[looney]

This gold thing is a red herring. What was the alternative? holding out ie our chancellor speculating the UK's future on the precious metals market which is far from ideal.

He was selling of the gold to prepare the UK for entry into the single currency.

 

[abc]

Oh yeah, and the credit ratings agency just sat on this until they decided to announce it yesterday? You're talking shit.

You do seem to have a remarkably blinkered and poors grasp of economics and economic history. Rather like Ed Balls and Labour who you seem to have a blind faith in.

 

[drew]

You do seem to have a remarkably blinkered and poors grasp of economics and economic history. Rather like Ed Balls and Labour who you seem to have a blind faith in.

What on earth does your comment mean in relation to the post you quoted?

 

[Herr Tubthumper]

Are we though ?

Look at Spain for example 25% adult unemployment and 50% youth unemployment.

Spain are not in the G7

 

[Herr Tubthumper]

What on earth does your comment mean in relation to the post you quoted?

This. I refer to my original conclusion which is that abc is talking shit, again.

 

[Herr Tubthumper]

You do seem to have a remarkably blinkered and poors grasp of economics and economic history. Rather like Ed Balls and Labour who you seem to have a blind faith in.

Twit.

 

[Herr Tubthumper]

Funny watching the Tories back peddle. AAA credit rating not that important after all

f***ing twats. The rating was the central reason for their austerity drive back in 2010.