Did Labour crash the economy?

[User removed 4]

That bit is not true as Fannie and Freddie will tell you.

Wow you've read a book and know about Fannie mae and Freddie mac , why not just say the self same thing happened in the US ??

 

[Hamilton]

I'm sure Gordon Brown said on a number of occasions that he had abolished the economic cycle of boom and bust.

If that is the case, feel free to correct me, then your assertion is that we all knew it couldn't last apart from Gordon Brown and his inner circle.

As we approach the election in May, could you remind me who was in that inner circle of Gordon Brown?

I think you'll find many of the same sorry lot on all sides of the house are there.

We love to apportion blame and say 'he did it!' 'she did it!' whenever anything goes wrong. On this occasion many of the people lapping up the cash and stacking up the debt now want to point the finger. Yep, of course we should have had tougher regulation in place - like Canada - but who was going to sell the idea that we should have aspired to a Canadian style economy. Nobody. Bloody hell, you'd have sounded like a (whisper it) socialist.

I love the pointy finger of blame. Playground politics.

And ps, I wouldn't let Ed Balls anywhere near the treasury ever again.

 

[Hamilton]

Wow you've read a book and know about Fannie mae and Freddie mac , why not just say the self same thing happened in the US ??

I did, but thanks for helping.

 

[cunning fergus]

That bit is not true as Fannie and Freddie will tell you.

If I am following you correctly, your are querying whether the the UK also weighed in to sub prime lending, similar to the US? Yes we did.......

This is the point about Labour encouraging debt, BIG style. That is why Labour ARE responsible for the crash in the UK.

The Tories may have well done the same, however they were not in the driving seat. That was Brown, and he was standing on the accelerator saying "come on lets go faster.........."

 

[Arkwright]

The Mail was sold by the Tories you buffoon

Who ever was in power was going to sell off Royal Mail as it was a drain on the economy. I know they sold it on the cheap however it was worth it just to get rid.

 

[User removed 4]

I did, but thanks for helping.

No you didn't you tried to be pretentious and 'in the know' hoping CF or someone would have to ask who Fannie and Freddie were.

 

[Hamilton]

No you didn't you tried to be pretentious and 'in the know' hoping CF or someone would have to ask who Fannie and Freddie were.

But CF would have known who they were as he is well read on the subject. Now run along and do some commodity trading and push us towards the next financial crisis.

 

[User removed 4]

I think you'll find many of the same sorry lot on all sides of the house are there.

We love to apportion blame and say 'he did it!' 'she did it!' whenever anything goes wrong. On this occasion many of the people lapping up the cash and stacking up the debt now want to point the finger. Yep, of course we should have had tougher regulation in place - like Canada - but who was going to sell the idea that we should have aspired to a Canadian style economy. Nobody. Bloody hell, you'd have sounded like a (whisper it) socialist.

I love the pointy finger of blame. Playground politics.

And ps, I wouldn't let Ed Balls anywhere near the treasury ever again.

correct, but not for the reasons you're stating , it's a commodities based economy, totally unlike ours.

 

[User removed 4]

But CF would have known who they were as he is well read on the subject. Now run along and do some commodity trading and push us towards the next financial crisis.

Ah so it was the commodities market that caused the credit crisis was it ?

 

[Arkwright]

One of the problems was when times were good we never saved for a rainy day and carried on spending.

Always makes me laugh that we are told to save for our future and put money away, invest into pensions, ISA's, ect and yet the Government continues to spend, spend, spend.

 

[El Presidente]

No you didn't you tried to be pretentious and 'in the know' hoping CF or someone would have to ask who Fannie and Freddie were.

You've been to Bredbury Hall mate, so you certainly know what Fannie is.

 

[Hamilton]

If I am following you correctly, your are querying whether the the UK also weighed in to sub prime lending, similar to the US? Yes we did.......

This is the point about Labour encouraging debt, BIG style. That is why Labour ARE responsible for the crash in the UK.

The Tories may have well done the same, however they were not in the driving seat. That was Brown, and he was standing on the accelerator saying "come on lets go faster.........."

I think I'm agreeing with you, I'm just saying that everyone bar a very few voices were saying go faster.

 

[User removed 4]

You've been to Bredbury Hall mate, so you certainly know what Fannie is.

Some of them look like they could be called Freddie though !

 

[El Presidente]

Some of them look like they could be called Freddie though !

We've both had worse too!

 

[Hamilton]

Ah so it was the commodities market that caused the credit crisis was it ?

Yeah it was you bushy, just you. You caused the crash.

 

[cunning fergus]

O

I think you'll find many of the same sorry lot on all sides of the house are there.

We love to apportion blame and say 'he did it!' 'she did it!' whenever anything goes wrong. On this occasion many of the people lapping up the cash and stacking up the debt now want to point the finger. Yep, of course we should have had tougher regulation in place - like Canada - but who was going to sell the idea that we should have aspired to a Canadian style economy. Nobody. Bloody hell, you'd have sounded like a (whisper it) socialist.

I love the pointy finger of blame. Playground politics.

And ps, I wouldn't let Ed Balls anywhere near the treasury ever again.

I disagree, your point would have much more relevance if it was about, say, the IRAQ war, where most politicians supported it.......ergo they all have some degree of responsibility for the UK's actions.

The economic policy of Labour however is the economic policy of Labour.

The Tories may have done the same and it may have been worse. However conflating what may have happened with the facts is just another deflection.

Brown was an economic cretin, all the growth we had in the good years was built on sand.

He won't be the last to get it wrong, and wasn't the first, but like alcoholics we need to recognise where the problem lies.

It wasn't the Tories it was Labour............if we have learnt our lesson we will never let those in positions of power then anywhere near power again. I am glad we agree on that bit at least.

 

[cunning fergus]

O

I think you'll find many of the same sorry lot on all sides of the house are there.

We love to apportion blame and say 'he did it!' 'she did it!' whenever anything goes wrong. On this occasion many of the people lapping up the cash and stacking up the debt now want to point the finger. Yep, of course we should have had tougher regulation in place - like Canada - but who was going to sell the idea that we should have aspired to a Canadian style economy. Nobody. Bloody hell, you'd have sounded like a (whisper it) socialist.

I love the pointy finger of blame. Playground politics.

And ps, I wouldn't let Ed Balls anywhere near the treasury ever again.

I disagree, your point would have much more relevance if it was about, say, the IRAQ war, where most politicians supported it.......ergo they all have some degree of responsibility for the UK's actions.

The economic policy of Labour however is the economic policy of Labour.

The Tories may have done the same and it may have been worse. However conflating what may have happened with the facts is just another deflection.

Brown was an economic cretin, all the growth we had in the good years was built on sand.

He won't be the last to get it wrong, and wasn't the first, but like alcoholics we need to recognise where the problem lies.

It wasn't the Tories it was Labour............if we have learnt our lesson we will never let those in positions of power then anywhere near power again. I am glad we agree on that bit at least.

 

[drew]

fair enough, I'll put my hands up, I'm surprised by those figures , I'll stand by my original points though, in most cases people paying inheritance tax are far from very rich and it's also an outrageous tax in the first place.

You are aware that you only pay IHT at 40% above that threshold so, for example, a person's parents both die and neither had used up any of their threshold (that is to say when the first parent died the spouse inherited the lot) and the estate is worth £1m. The benefactors will pay £140k in IHT but will be gaining £860k as the balance. What is wrong with the principle of paying tax that money? They have done nothing to earn it other than being named in a will.

£860k might not make you the mega rich but it is 32 times the average annual wage in this country and not to be sniffed at.


With regard to your comment regarding the sell off of gold, here's another angle :-

http://blogs.telegraph.co.uk/financ...own-sold-britains-gold-at-a-knock-down-price/

 

[Hamilton]

O


I disagree, your point would have much more relevance if it was about, say, the IRAQ war, where most politicians supported it.......ergo they all have some degree of responsibility for the UK's actions.

The economic policy of Labour however is the economic policy of Labour.

The Tories may have done the same and it may have been worse. However conflating what may have happened with the facts is just another deflection.

Brown was an economic cretin, all the growth we had in the good years was built on sand.

He won't be the last to get it wrong, and wasn't the first, but like alcoholics we need to recognise where the problem lies.

It wasn't the Tories it was Labour............if we have learnt our lesson we will never let those in positions of power then anywhere near power again. I am glad we agree on that bit at least.

But the Tories had no credible alternative in the noughties.

Look at this speech from 2005

http://www.theguardian.com/politics/2005/oct/04/conservatives2005.conservatives3

The most Cameron says on the economy is that 'people are just waiting for it to hit the rocks at some point' - no sense of impending doom.

I'm not defending Brown, but I'm not attacking Labour either. I'm not defending any of them.

The question is, have any of them learned from this? Clegg's immature political comments that kicked off this thread suggests not.

 

[Bold Seagull]

for the very rich ?? Inheritance tax ? Do leave off , even given that half the population is liable for inheritance tax these days it's a totally and utterly immoral tax anyway, why the Fvck should people have to pay more tax on assets or money that's already had tax paid on it ?

They're dead aren't they?