Why does everyone blame labour for the financial mess?

[Tom Hark Preston Park]

One thing that bugs me is when people blame Labour for the financial [mess].

Because they're thick twats?

 

[Tony Towner's Fridge]

Of course they are responsible. old off our gold, raped our pensions, increased public spending with little or no improvement in services, failed to stimulate small businesses and get the economy really going.The list is pretty much endless and Brown was there to oversee the whole lot.
The banks were let loose by a government who failed to regulate them but regulated everything else in society.

Good riddance to the Labour lot, never been a good Labour Government and hopefully there will never be another chance to prove me wrong.

TNBA

TTF

 

[simonsimon]

To be replaced by what?.

 

[Tony Towner's Fridge]

A Government with a focus on both generating some wealth (quite important if you want to do things with your economy) and making sure public spending and borrowing is kept in check (you wouldn't spend more that you earn a year so why should a Government). It is very simple but Blair,Brown and darling Darling never understood that.

TNBA

TTF

 

[Chicken Runner61]

Figures I have seen show our GDP to debt as 42%

Italy as 103.7%
France 67%
USA 68%
Canada 62%

Are they not industrialised then? Oh and wait for it Japan is 170.4%

Its true that house borrowing was bad here and therefore took a hit. How do you explain the bad GDP v debt of other nations who do not buy houses but rent more then?

The BNP are left wing?!!? Christ I know that the Lib Dems have some policies more left wing than labour but did you get that wrong? And do you really think the tories will bring out troops out

The tories were in opposition and in 13 years they never said a word about any of Browns failings until AFTER they happened. If fact all Brown and Blair did was to continue and expand tory policies from the previous 15 years. You can blame Thatcher and Milton Friedman for what happened.

You need to get your facts right about the gold thing.It wasn't the fact that Brown sold the gold (well half of it) that was the problem it was the fact that the treasury who advised him advertised the fact that they were going to sell it SIX MONTHS prior to the sale. That signal sent the gold price down. In fact the treasury wanted him to sell the gold in favour of currency and bonds as they are less volatile. Lots of countries sold their gold then not just us. Sure it proved a stupid move but hindsight is a wonderful thing.

The problem with gold is knowing when to sell it. I knew a bloke that had £25k of gold for years and was always going to sell it when the "price was right" in the end someone nicked it from him because he didn't want to give any of the profit he could make to a gold store to keep it.

Most Chancellors before Brown never sold our gold because they were too scared too not because of financial acumen

 

[PILTDOWN MAN]

Britain's Budget Deficit

Read this and understand why it's Brown fault

 

[Chicken Runner61]

I'm not defending Brown or New labour but if you think that Cameron or worse Osborne are going to do any better you are kidding yourself.
Mind you if you have a lot of money or gold you will do better than most backing them.

And the gold thing is a real red herring, for years central banks fixed the price of gold to help secure currencies. The only reason banks and goverments ever sell gold is to keep the price down and maintain confidence in the money system. when Brown sold the gold he saved the money system for a few more years

People should have paid more attention to Jefferson

"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. This issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered. I hope we shall crush in its birth the aristocracy of the moneyed corporations which already dare to challenge our Government to a trial of strength and bid defiance to the laws of our country" Thomas Jefferson, 1791

 

[cunning fergus]

Figures I have seen show our GDP to debt as 42%

Italy as 103.7%
France 67%
USA 68%
Canada 62%

Are they not industrialised then? Oh and wait for it Japan is 170.4%

Its true that house borrowing was bad here and therefore took a hit. How do you explain the bad GDP v debt of other nations who do not buy houses but rent more then?

The BNP are left wing?!!? Christ I know that the Lib Dems have some policies more left wing than labour but did you get that wrong? And do you really think the tories will bring out troops out

The tories were in opposition and in 13 years they never said a word about any of Browns failings until AFTER they happened. If fact all Brown and Blair did was to continue and expand tory policies from the previous 15 years. You can blame Thatcher and Milton Friedman for what happened.

You need to get your facts right about the gold thing.It wasn't the fact that Brown sold the gold (well half of it) that was the problem it was the fact that the treasury who advised him advertised the fact that they were going to sell it SIX MONTHS prior to the sale. That signal sent the gold price down. In fact the treasury wanted him to sell the gold in favour of currency and bonds as they are less volatile. Lots of countries sold their gold then not just us. Sure it proved a stupid move but hindsight is a wonderful thing.

The problem with gold is knowing when to sell it. I knew a bloke that had £25k of gold for years and was always going to sell it when the "price was right" in the end someone nicked it from him because he didn't want to give any of the profit he could make to a gold store to keep it.

Most Chancellors before Brown never sold our gold because they were too scared too not because of financial acumen

Dont know where you get those figures from, I quoted debt vs GDP and borrowing vs GDP in post 51 and you agreed with them in post 54. They are from the Treasury and IFS Reports from April 2010.

I dont really care about our position relative to other countries as its irrelevant, its like comparing the finances of a managing director and shelf stacker. You know the UK's position is shit because of Brown's policies and borrowing more is not a credible solution.

Re: the BNP; well in my book any political party that want to re-nationalise British industry and establish worker cooperatives cannot be a right wing party.........but maybe that's just me..........call me old fashioned!

I like what you have done about the Gold issue, its not Brown's fault its his advisors...........we got to see that dynamic in the during the election campaign.........poor old Sue eh?

Now we know who you are for sure............don't forget to turn the lights out on your way out.

 

[Chicken Runner61]

Dont know where you get those figures from, I quoted debt vs GDP and borrowing vs GDP in post 51 and you agreed with them in post 54. They are from the Treasury and IFS Reports from April 2010.

I dont really care about our position relative to other countries as its irrelevant, its like comparing the finances of a managing director and shelf stacker. You know the UK's position is shit because of Brown's policies and borrowing more is not a credible solution.

Re: the BNP; well in my book any political party that want to re-nationalise British industry and establish worker cooperatives cannot be a right wing party.........but maybe that's just me..........call me old fashioned!

I like what you have done about the Gold issue, its not Brown's fault its his advisors...........we got to see that dynamic in the during the election campaign.........poor old Sue eh?

Now we know who you are for sure............don't forget to turn the lights out on your way out.

No you just ignore the bits that don't fit in with your view of politics.

You don't answer straight questions (because you can't)

On your theory of politics we ignore everyone elses economic state even though we are linked to them and have to trade with them. I don't think you understand flat currency and the gold issue even though it probably would fit in with your old fashioned economics.

Brown might have been naive but the bit that amazes is that you can't see that he was only carrying on where Thatcher and the tories started. it must really irk you that both Blair and Brown had her round to tea to tell her how wonderful she was. Its her economics imported from Milton that have lead us to this.

 

[Chicken Runner61]

Dont know where you get those figures from, I quoted debt vs GDP and borrowing vs GDP in post 51 and you agreed with them in post 54. They are from the Treasury and IFS Reports from April 2010.

I suspect that the figures I quoted are earlier figures but the ratio to other countries will be the same and it does show that other "industrialised" countries have higher debt to GDP than you wish to admit to.

By all means dig your head in the sand but the borrowing of more flat currency across many nations is going to effect us as you will see on monday if no government is formed. Europe can prop up Greece and even possibly portugal but if it gets to Spain and Italy you probably won't have a light to turn out.

You can blame Brown now but very soon the next people running the country whatever party will have to make some interesting moves. Perhaps they will sell the half of gold that Brown left if they have the balls