Gordon Brown

[Stinky Kat]

Anyone who know anything about economics will know that Labour inherited the strongest up and coming economy since the 2nd world war and the best overall world economy for 100 years.

He didn;t f*** it up but any Con or LD chancellor would have done at least as well.

He just fleeces the hard working " middle " classes and gives handouts to spongers and leaves the mega rich to count their piles of cash.

It is a fact that anyone on less than £ 24000 pa would be better off not working on Labour's state handouts.

unless you have a mortgage then you haveto work but its true I ve got mates who have a smuch disposable cash as me and they work less than 16 hrs a week and get everything else from the state eg rent and c.tax and IS.

Mad world when you are better off not working. They love Blair and Brown

 

[Barrel of Fun]

Along with just about every other western government. Most gold traders at the time thought the yellow stuff was over-priced and going to junk, so as far as I'm concerned he listened to the markets and made a bold decision, we no longer need gold to underpin our currency so lets at least cash it in and realise the asset. The government is not there to speculate on metals, if it had gone to $100 would you still be critical of him?

I saw it as an attempt to drag Britain into the Euro by stealth. We have much less Gold bullion than other major economies and who says that we will not need gold again to underpin the economy. The boom bust cycle has been eradicated thus far, but there is nothing to suggest that it is eradicated for good.

 

[Brighton1]

Do you really think he has done a good job??

Have you ever heard of "stealth taxes"??

He might fool you, but not me...

 

[Uncle Spielberg]

interest rates need to be look at concurrently with wage increases, if interest rates where 15% I think you'll find wage increases where running at similar levels which negates it.

Ok interest rates have averaged 5% under Brown but wage increases have averages around the same so you might fool a few people by comparing 15% and 5% interest rates Brown but not me

 

[Stinky Kat]

why not just raise income tax and then if you earn it you pay it. All this indirect taxation gets me down.

 

[Lokki 7]

interest rates need to be look at concurrently with wage increases, if interest rates where 15% I think you'll find wage increases where running at similar levels which negates it.

Ok interest rates have averaged 5% under Brown but wage increases have averages around the same so you might fool a few people by comparing 15% and 5% interest rates Brown but not me

What are you talking about? Please don't lecture about interest rates as you clearly have less knowledge about their effect on the economy than you do about quality cinema or horses.

 

[Grendel]

Re: Re: Re: Re: Re: Gordon Brown

That is very true. But it was evaluated as being the best solution at the time. The ERM was designed to pave way to the single currency. Thankfully we 'withdrew'

Was it not Tony B et al, that wanted to join the Euro before a heavy defeat?

Indeed. However, I find it slightly ironic that current Tory opposition to the Euro seems to be based on their own incompetence when dealing with it's precursor. If it hadn't been for Black Wednesday, we'd probably be using the Euro now.

 

[Lokki 7]

why not just raise income tax and then if you earn it you pay it. All this indirect taxation gets me down.

Because this acts as a deterrant to top earners who either move abroad, damaging the economy, or find legal ways of avoidance such as off shore accounts and film partnerships and the like.

 

[Uncle Spielberg]

I am talking about the amount of money in people's pockets. Brown's spin about 5% interest rates is an illusion with mirrors and you fell for it.

But thats the rub with Labour its ALL bullshit.

 

[Uncle Spielberg]

What are you talking about? Please don't lecture about interest rates as you clearly have less knowledge about their effect on the economy than you do about quality cinema or horses.

Oh listen to her

 

[Lokki 7]

I am talking about the amount of money in people's pockets. Brown's spin about 5% interest rates is an illusion with mirrors and you fell for it.

What you say is somewhat correct, but it is only part of the picture. For example, a high interest rate makes it harder for companies to invest as borrowing is more expensive. This drags on the economy and reduces its growth potential. This in turn effects as all as competing nations become more productive and produce goods and services for less. Jobs are lost, salaries are cut and talent migrates abroard.

 

[Grendel]

What are you talking about? Please don't lecture about interest rates as you clearly have less knowledge about their effect on the economy than you do about quality cinema or horses.

So, what exactly do you know about horses, US?

 

[Highfields Seagull]

Now if I remember basic economics correctly:

HIGH interest rates = LOW inflation and growth = LOW wage rises.

 

[Barrel of Fun]

Are we not in danger of a huge crash? How are the government going to stop people spending, if the banks are reluctant to raise interest rates, due to so many people becoming homeowners. Leading to potential climate of negative equity.

 

[Uncle Spielberg]

Whatchatalkinaboutwillis

 

[Lokki 7]

Now if I remember basic economics correctly:

HIGH interest rates = LOW inflation and growth = LOW wage rises.

Low yes. But it is the margin between inflation and the wage rise that counts. In other words real wage rises, not absolute.

 

[Lokki 7]

Are we not in danger of a huge crash? How are the government going to stop people spending, if the banks are reluctant to raise interest rates, due to so many people becoming homeowners. Leading to potential climate of negative equity.

The banks do not independantly control interest rates, the BofE does.
Why do the government want to stop people spending? Not sure what you are saying here.

 

[Dave the OAP]

wahay...Keynesian Macro Economic Policies Rule!!!

 

[Rougvie]

He just fleeces the hard working " middle " classes and gives handouts to spongers and leaves the mega rich to count their piles of cash.

Pretty much spot on Gubber, they pick on the £50-£100k bracket of self employed, hard working law abiders because their fancy spin doctors from the LSE or wherever tell them that no matter what tax rise they throw at us, they know we will cough up.

One day (soon) when he is not on Goverment Mr Brown will realise that he shouldnt have pushed us to fork out for the umpteenth tax credit rise for disabled single mothers from Kosovo.

 

[Barrel of Fun]

The banks do not independantly control interest rates, the BofE does.
Why do the government want to stop people spending? Not sure what you are saying here.

Sorry I meant "the Bank is". When I said, stop people spending. I meant slow down spending, so that the economy does not overheat. Increasing inflation perhaps, that will need to be controlled. By interest rates?

There is a huge drive to build affordable homes as most properties are out of reach to people yet to get a foot on the property ladder. I assumed the aim of Labour was to bridge the wealth gap, but as far as I can tell, it has widened further.