Nobel prize winner (Economics) says UK economy best in Europe!
14 June 2009, 07:08 PM
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Nobel prize winner (Economics) says UK economy best in Europe!
And you cannot get higher praise than that! 
Thank goodness we have such a good government to steer us though this world recession
BBC NEWS | Business | UK's economy is 'best in Europe'
Thank goodness we have such a good government to steer us though this world recession
BBC NEWS | Business | UK's economy is 'best in Europe'
14 June 2009, 07:58 PM
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And you cannot get higher praise than that!
Thank goodness we have such a good government to steer us though this world recession
BBC NEWS | Business | UK's economy is 'best in Europe'
Thank goodness we have such a good government to steer us though this world recession
BBC NEWS | Business | UK's economy is 'best in Europe'
14 June 2009, 08:38 PM
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No, it's done nothing to try to prevent or reverse/push out of the world recession. All the work has been done by certain countries, mainly the UK and US.
14 June 2009, 08:48 PM
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I agree with the OP .... ---Edited by webteam---
It is what I have said for ages - hate Labour as I do, they are without doubt the best for the current climate.
It is what I have said for ages - hate Labour as I do, they are without doubt the best for the current climate.
Last edited by New_scooby_04; 15 June 2009 at 11:13 AM. Reason: Lets not bring that into it, eh? Keep the thread on topic
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14 June 2009, 09:29 PM
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He added: "If the government can hold off having an election until next year, Labour might well be able to run as 'we're the people who brought Britain out of the slump'."
14 June 2009, 10:36 PM
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The election will be interesting on here ..... you will have two camps:-
1. The Labour camp - the economy will be firing on all cylinders and the reason is that Brown took strong choices which worked.
2. The Tory camp - desperately trying to get a Policy which will be popular without being shown that it cannot be done.
It's going to be closer than anyone thinks .... maybe a Lib-Lab Government?
1. The Labour camp - the economy will be firing on all cylinders and the reason is that Brown took strong choices which worked.
2. The Tory camp - desperately trying to get a Policy which will be popular without being shown that it cannot be done.
It's going to be closer than anyone thinks .... maybe a Lib-Lab Government?
14 June 2009, 11:25 PM
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The election will be interesting on here ..... you will have two camps:-
1. The Labour camp - the economy will be firing on all cylinders and the reason is that Brown took strong choices which worked.
2. The Tory camp - the economy will still be ****ed and the reason is that Brown has been at the financial helm for over a decade.
1. The Labour camp - the economy will be firing on all cylinders and the reason is that Brown took strong choices which worked.
2. The Tory camp - the economy will still be ****ed and the reason is that Brown has been at the financial helm for over a decade.
14 June 2009, 11:49 PM
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The election will be interesting on here ..... you will have two camps:-
1. The Labour camp - the economy will be firing on all cylinders and the reason is that Brown took strong choices which worked.
2. The Tory camp - the economy will still be ****ed and the reason is that Brown has been at the financial helm for over a decade.
1. The Labour camp - the economy will be firing on all cylinders and the reason is that Brown took strong choices which worked.
2. The Tory camp - the economy will still be ****ed and the reason is that Brown has been at the financial helm for over a decade.
15 June 2009, 08:39 AM
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Undoubtedly the recession could have been limited by better regulation of our banking system which the government did sweet FA about. Continual waste of money through poor policy and execution in the private sector wasted a huge amount of resources better spent on things other than ID cards, invasion of our privacy under the name of terror prevention and the various other utter b0lloX this government has wasted billions on.
Would someone else have done a better job - the reality is that is quite possible. I doubt many other people would have sold of our gold reserves at an all time low price !
AllanB
Would someone else have done a better job - the reality is that is quite possible. I doubt many other people would have sold of our gold reserves at an all time low price !
AllanB
15 June 2009, 08:44 AM
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We will never know if someone else could have done better, somehow - I doubt that they could have.
We all enjoyed the most fantastic growth of wealth and lifestyles - more than at any time in our history, under Labour.
Yes, it seems that most of that wealth was borrowed .... but I cannot remember anyone on here begging to have their living standards cut over the past decade!
We all enjoyed the most fantastic growth of wealth and lifestyles - more than at any time in our history, under Labour.
Yes, it seems that most of that wealth was borrowed .... but I cannot remember anyone on here begging to have their living standards cut over the past decade!
15 June 2009, 08:58 AM
#15
Pete, in this country, I would be amazed if 1 in 100 people knew that the improved living standard was all based on borrowed money.
I am double sure that our children will certainly be aware it was borrowed money when they are paying an astronomical rate to pay for the "labour debts".
I am double sure that our children will certainly be aware it was borrowed money when they are paying an astronomical rate to pay for the "labour debts".
15 June 2009, 11:01 AM
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What that report fails to mention is that the UK national debt is rising by well over £300 million a day.
We all know how we'll pay that debt back......
We all know how we'll pay that debt back......
15 June 2009, 11:12 AM
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I think a key difference between this recession and the last one under Maggie/Major is that instead of the government selling firms off, we have been buying them up (ie banks). Surely this puts us a more promising position? 
Don't forget that Maggie paid all that doll money in the 1980's, by selling off North Sea Oil. Wouldn't that have been a nice firm to own, especially when oil was hitting $147 a barrell last June?
Don't forget that Maggie paid all that doll money in the 1980's, by selling off North Sea Oil. Wouldn't that have been a nice firm to own, especially when oil was hitting $147 a barrell last June?
15 June 2009, 11:35 AM
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Gordon didn't sell of firms but he sold the countries gold at rock bottom price in a move that cost the country £2 billion.
Would have been nice to have sat on that gold, especially when it went on to reach a record high
Goldfinger Brown’s £2 billion blunder in the bullion market - Times Online
Would have been nice to have sat on that gold, especially when it went on to reach a record high
Goldfinger Brown’s £2 billion blunder in the bullion market - Times Online
15 June 2009, 01:50 PM
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Even if the recovery does come before the next general election it won't save Labour from massive defeat
John Major's government had steered the country back to economic growth from the recession but it made no difference, he was still wiped out.
Brown is unelectable, simple as that
We need the properly educated elite running this country again, not ex postmen and ships stewards
John Major's government had steered the country back to economic growth from the recession but it made no difference, he was still wiped out.
Brown is unelectable, simple as that
We need the properly educated elite running this country again, not ex postmen and ships stewards
15 June 2009, 02:12 PM
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Pete, in this country, I would be amazed if 1 in 100 people knew that the improved living standard was all based on borrowed money.
I am double sure that our children will certainly be aware it was borrowed money when they are paying an astronomical rate to pay for the "labour debts".
I am double sure that our children will certainly be aware it was borrowed money when they are paying an astronomical rate to pay for the "labour debts".
Borrowing is a result of improved living standards not the cause of it
Last edited by Martin2005; 15 June 2009 at 02:14 PM.
15 June 2009, 03:45 PM
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Experts tell us that we haven't "suffered" as much as Europe so why on earth did Mandleson say over the weekend that joining the Euro is still an objective of this government.
That'll increase the UKIP vote straight away
That'll increase the UKIP vote straight away
15 June 2009, 03:50 PM
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As soon as those rules were scrapped the banks went gun ho on their lending. They knew all along that governments around the world wouldn't let the majority of them go to the wall.
Our governement failed to make sure the FSA was regulating our banks correctly and we suffered the same fate as the US due to the banks lending money to anyone who asked.
It's going to take around 20 years to repay the cost of 12 years of "boom".
15 June 2009, 03:53 PM
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The election will be interesting on here ..... you will have two camps:-
1. The Labour camp - the economy will be firing on all cylinders and the reason is that Brown took strong choices which worked.
2. The Tory camp - desperately trying to get a Policy which will be popular without being shown that it cannot be done.
It's going to be closer than anyone thinks .... maybe a Lib-Lab Government?
1. The Labour camp - the economy will be firing on all cylinders and the reason is that Brown took strong choices which worked.
2. The Tory camp - desperately trying to get a Policy which will be popular without being shown that it cannot be done.
It's going to be closer than anyone thinks .... maybe a Lib-Lab Government?
15 June 2009, 05:08 PM
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I disagree, Bush made if far easier to borrow money in the US by scrapping fiscal rules introduced after the great depression. What happened?
As soon as those rules were scrapped the banks went gun ho on their lending. They knew all along that governments around the world wouldn't let the majority of them go to the wall.
Our governement failed to make sure the FSA was regulating our banks correctly and we suffered the same fate as the US due to the banks lending money to anyone who asked.
It's going to take around 20 years to repay the cost of 12 years of "boom".
As soon as those rules were scrapped the banks went gun ho on their lending. They knew all along that governments around the world wouldn't let the majority of them go to the wall.
Our governement failed to make sure the FSA was regulating our banks correctly and we suffered the same fate as the US due to the banks lending money to anyone who asked.
It's going to take around 20 years to repay the cost of 12 years of "boom".
My point was that peoples standard of living increased over the past decade irrespective of how much borrowing went on, and tbh you'd expect borrowing to go up in the good times.
16 June 2009, 07:10 PM
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Oh look. An article in the WSJ that says it was Brown's fault .... Gordon Brown Helped Cause the Crisis - WSJ.com
"... The facts show otherwise. Britain's economic downturn began when its house price and household debt bubbles inevitably burst, beginning with the run on Northern Rock in September 2007. These bubbles had swollen to higher levels, relative to average price and income levels respectively, than in the U.S. and other major economies.
In relation to their long-term average, British house prices soared by 88.5% between 1997 and 2007, according to the OECD. In the U.S. the rise was 64.5%. Britain's household debt rose to 176.9% of disposable income in 2007 from 104.8% in 1997. During the same period, U.S. household debt rose only to 105.8% of disposable income from 64.3% in 1997. The increases in Germany and France were considerably lower.
Gordon Brown tolerated and even encouraged the formation of these bubbles for several reasons. The traditional sources of Britain's economic strength, the mining and manufacturing industries, shrank during his term as chancellor. Total mining sector output, including oil and natural gas, dropped by 31% between 2000 and 2007. Total manufacturing production was stagnant during this period.
The gross value, in inflation-adjusted prices, of output from all production industries combined fell by 3% between 2000 and 2007. Their employment level dropped by nearly 1.1 million over the same period. These trends were not an inevitable result of shifts in comparative advantages that are said to occur in advanced economies. Real manufacturing output rose at an average annual rate of 2.2% in the U.S., 1.2% in Germany and 1.1% in France between 2000 and 2006, according to the World Bank ..."
etc
Dave
"... The facts show otherwise. Britain's economic downturn began when its house price and household debt bubbles inevitably burst, beginning with the run on Northern Rock in September 2007. These bubbles had swollen to higher levels, relative to average price and income levels respectively, than in the U.S. and other major economies.
In relation to their long-term average, British house prices soared by 88.5% between 1997 and 2007, according to the OECD. In the U.S. the rise was 64.5%. Britain's household debt rose to 176.9% of disposable income in 2007 from 104.8% in 1997. During the same period, U.S. household debt rose only to 105.8% of disposable income from 64.3% in 1997. The increases in Germany and France were considerably lower.
Gordon Brown tolerated and even encouraged the formation of these bubbles for several reasons. The traditional sources of Britain's economic strength, the mining and manufacturing industries, shrank during his term as chancellor. Total mining sector output, including oil and natural gas, dropped by 31% between 2000 and 2007. Total manufacturing production was stagnant during this period.
The gross value, in inflation-adjusted prices, of output from all production industries combined fell by 3% between 2000 and 2007. Their employment level dropped by nearly 1.1 million over the same period. These trends were not an inevitable result of shifts in comparative advantages that are said to occur in advanced economies. Real manufacturing output rose at an average annual rate of 2.2% in the U.S., 1.2% in Germany and 1.1% in France between 2000 and 2006, according to the World Bank ..."
etc
Dave
17 June 2009, 12:25 PM
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Can't understand how they can praise an economy which in debt of around £1 trillion, and has been borrowing money as usual only very much more to keep throwing away on useless initiatives which earn us nothing.
Not only do we have to pay that cash back over many years to come, and the interest on it, but we don't appear to have the wherewithal to earn all that money back! Printing money as they are doing is the last resort of complete drongos who have failed drastically in their control and application of the financial affairs of this country for all those years in power.
The coming taxes and inflation are going to be a nasty shock!
Les
Not only do we have to pay that cash back over many years to come, and the interest on it, but we don't appear to have the wherewithal to earn all that money back! Printing money as they are doing is the last resort of complete drongos who have failed drastically in their control and application of the financial affairs of this country for all those years in power.
The coming taxes and inflation are going to be a nasty shock!
Les
17 June 2009, 12:36 PM
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Can't understand how they can praise an economy which in debt of around £1 trillion, and has been borrowing money as usual only very much more to keep throwing away on useless initiatives which earn us nothing.
Not only do we have to pay that cash back over many years to come, and the interest on it, but we don't appear to have the wherewithal to earn all that money back! Printing money as they are doing is the last resort of complete drongos who have failed drastically in their control and application of the financial affairs of this country for all those years in power.
The coming taxes and inflation are going to be a nasty shock!
Les
Not only do we have to pay that cash back over many years to come, and the interest on it, but we don't appear to have the wherewithal to earn all that money back! Printing money as they are doing is the last resort of complete drongos who have failed drastically in their control and application of the financial affairs of this country for all those years in power.
The coming taxes and inflation are going to be a nasty shock!
Les
BTW if you want to see truly enourmous government debt just look at the stats for the US, Germany and Japan, they all absolutley dwarf the UK
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