Why is it?
Whenever the Tories are in power unemployment rockets up and the whole country is in a dark place?
I have a theory - the Posh **** want some kind of power over the people, they want the workforce under control, they want them desperate for a job ... so desperate that they will work for nothing.
Am I right? Or is it just that Old Etonians haven't a clue .... born, as they are, with a silver spoon in their mouths and the money of Mummy and Daddy?
I have a theory - the Posh **** want some kind of power over the people, they want the workforce under control, they want them desperate for a job ... so desperate that they will work for nothing.
Am I right? Or is it just that Old Etonians haven't a clue .... born, as they are, with a silver spoon in their mouths and the money of Mummy and Daddy?
heres a good quote
“If I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get. And that’s government.”
Milton Friedman
“If I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get. And that’s government.”
Milton Friedman
Thread Starter
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From: Old Codgers Home
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... Before Brown sold the gold he announced that he was going to sell it. Buyers then knew that a whole load of gold was about to hit the market and so the price was devalued. So not only did he sell at a time of low prices, he deflated the market by announcing what he was going to do.
D'oh! And some people hail him as an economic genius.........
D'oh! And some people hail him as an economic genius.........
However, much to the shock of Goldman Sachs and the central bankers, in 1999 gold stopped falling; and, because Goldman Sachs’ short position was so large, Goldman possibly could suffer catastrophic losses.
This is when England’s then Chancellor of the Exchequer, Gordon Brown, on May 8, 1999 announced England would sell over 50 % of its gold reserves, 415 tons of the most precious metal on earth at the very bottom of the market.
This is when England’s then Chancellor of the Exchequer, Gordon Brown, on May 8, 1999 announced England would sell over 50 % of its gold reserves, 415 tons of the most precious metal on earth at the very bottom of the market.
Dave
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You continue to imply that the Tories have run the economy well, there is no historical justification for this claim. They are just as bad, and if you take into account the delivery of public services, in many ways they are worse.
You are right of course, Labour did inherit a sound economic platform, but that is only part of the story. You very conveniently didn't mention (yet a again) why our economy was on the up at that point.
We were recovering from the economic catastophy that was ERM, it lead to, until recent times, record levels of borrowing, interest rates in double figures, a crash in the housing market and huge repossessions, and of course a terrible resession.
So if you are going to mention how great our economic outlook was in 97, let's not forget why and how. Let's also remember it took the Tories 13 years to even get close to be seen as competent in economic matters again.
You are right of course, Labour did inherit a sound economic platform, but that is only part of the story. You very conveniently didn't mention (yet a again) why our economy was on the up at that point.
We were recovering from the economic catastophy that was ERM, it lead to, until recent times, record levels of borrowing, interest rates in double figures, a crash in the housing market and huge repossessions, and of course a terrible resession.
So if you are going to mention how great our economic outlook was in 97, let's not forget why and how. Let's also remember it took the Tories 13 years to even get close to be seen as competent in economic matters again.
Yes the ERM was a big mistake but the fact that the economy was on the up after that as you say shows that the Conservatives were indeed able to recover the situation.
You admit that NL inherited a strong economy from the Conservatives but you don't go on to say how it went down the tubes as soon as NL achieved power and overspent in spades in a completely irresponsible manner also overborrowing to hide what was happening. They did nothing to boost GDP, in fact they did the opposite and managed in that fashion to buy votes for their 3 election successes. They created a huge and expensive beaurocracy which artificially lowered unemployment but only by creating non-jobs. They also avoided any kind of regulation of the banking system which allowed the misbehaviour of the bankers, ie making enormous sums for themselves irresponsibly via toxic debt and initiating the recession that you mentioned. NL led us into a mindbending National Debt and deficit which has made it so difficult for the country to get back on an even keel. I hardly need mention the flogging off of half our gold reserves at a knockdown price of course by your heroic Chancellor at the time!
It is a historical fact that a Labour government has always managed to seriously weaken the economy and the Conservatives have always had the unpopular job of recovering the situation.
I am not that impressed with our present leaders for one reason or another, as is pretty evident, but what do you think would be the case with NL still in power? We might even be expecting Greece to lend us some cash!
Les
