Peter T Posted September 24, 2008 Report Share Posted September 24, 2008 The idea that Tories always hand over an economy "with public finances in good shape" is a myth. I don't think that is being said. Could be wrong, but didn't the Tories spend their last session in power reducing the national debt? as well as bringing inflation down to single figures? Quote Link to comment Share on other sites More sharing options...
wolfie Posted September 24, 2008 Report Share Posted September 24, 2008 If you regard a reduction from 48% to 44.8% as spending their last session reducing the debt then YES, however it only matches Labour's reduction from 44.8% to 37.5% by 2002. However all governments borrow when there is an economic downturn and that figure has increased recently to 43.8%. Quote Link to comment Share on other sites More sharing options...
observer Posted September 24, 2008 Report Share Posted September 24, 2008 Hay Rick! Actually agree with many of your criticisms, concerning the last wasted 11 years of missed opportunities, fiddling with trivia while Rome was burning etc (remember, they spent 7 years of Parliamentary time over the fox hunting ban). However, the underlying theme kept them inline with the Thatcher legacy:- no tax rises for the rich, continuation of Council Housing sell-offs - all of which has come back to bite us. Now to believe the "real" Tories have been or will be any better than these "pseudo" Tories; just shows how our political system is bankrupt of any real choice and the naivity of an electorate that continues to vote for mainstream Parties that are devoid of fundemental solutions and all commited to the elephant in the room - the EU. Quote Link to comment Share on other sites More sharing options...
Mary Posted September 24, 2008 Report Share Posted September 24, 2008 One thing that you are leaving out. Money. Nulab have done what they always do, and that is to leave a financial mess that will take the Tories and the country, several years of hardship to sort out. THAT is the main difference between the two parties. Same problem over here - shift blame back and forth from one party to another - problems getting bigger - so do my blaming!! And so on... Quote Link to comment Share on other sites More sharing options...
observer Posted September 25, 2008 Report Share Posted September 25, 2008 You appear to have a right-wing Republican Administration acting to provide socialist intervention in the market place - Karl Marx must be laughing in his grave! Quote Link to comment Share on other sites More sharing options...
Mary Posted September 26, 2008 Report Share Posted September 26, 2008 He is trying to cover his own ass-ests!!! Roll on the revolution! WaMu bank just failed - it was a huge banking franchise. I think its a set up for Bush to get his 85Billion payoff to the 3 corporations!! Quote Link to comment Share on other sites More sharing options...
observer Posted September 26, 2008 Report Share Posted September 26, 2008 I think the current proposed deal doesn't give the US taxpayer anything back - why don't they use this bail out money as a percentage shareholding in these institutions - in other words part nationalisation - and thus provide folk with a return in the future? At least the Yanks have sent in the FBI, and we may see some of the spivs held to account for this mess, instead of bailing out with golden parachutes - which begs the question, what is OUR Gov doing to punish the perpetrators? Quote Link to comment Share on other sites More sharing options...
Paul Kennedy Posted September 27, 2008 Report Share Posted September 27, 2008 Looks as though the Bradford & Bingley could be the latest casualty. Savers shouldn't worry though as as with Northern Rock, if no buyer can be found it will be nationalised. B & B specialised in buy to let loans, and since it allowed self certification of income, they gave what have often been described as "liars loans". Not sure about black bowlers, steel helmets might be more appropriate. Quote Link to comment Share on other sites More sharing options...
Paul Kennedy Posted September 27, 2008 Report Share Posted September 27, 2008 I think the current proposed deal doesn't give the US taxpayer anything back It might, as some of these so called toxic debts will have some value, albeit maybe nowhere near as much as its book value. People will afterall always buy something if it is cheap enough, i.e. the property or land that the loan is secured against. What is disgraceful is that a relatively small number of people, who have run banks, have caused this problem. I sense in a country such as China such individuals would have received the bullet....literally. Quote Link to comment Share on other sites More sharing options...
observer Posted September 27, 2008 Report Share Posted September 27, 2008 Be interesting to see how many of those responsible for the toxic milk in China - get the bullet - in the back of the head?! Interesting that the Chinese have invested in US Bonds and the US are in debt to them to the tune of $500billion! Quote Link to comment Share on other sites More sharing options...
observer Posted September 27, 2008 Report Share Posted September 27, 2008 PS: Seems B&B are to be "Nationalised" - perhaps "new" Labour are re-adopting Clause IV and taking over the "commanding heights of the economy"! Quote Link to comment Share on other sites More sharing options...
Peter T Posted September 28, 2008 Report Share Posted September 28, 2008 Perhaps they are compiling a portfolio saying where the money has gone, thus justifying increases in taxation. Quote Link to comment Share on other sites More sharing options...
observer Posted September 28, 2008 Report Share Posted September 28, 2008 Be interesting to discover what return the tax-payers will be getting on their investment?! Quote Link to comment Share on other sites More sharing options...
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