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Credit where it's due


harry hayes
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Saw 2 reports yesterday. One quoted Gordon Brown saying that the French economy may be in line for trouble, to add to an already reasonably long list. The second showed us at the right end of countries others would lend money to.

 

Good news and jusification for Mr Osborne and his cuts?.

 

Happy days

 

"everything has a beauty, but not everyone sees it".

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Wow Harry, so we can borrow more cheaply than someone else? Thought we wern't supposed to be borrowing at all any more?! Marvellous how capitalism works, first the finance industry cause a debt crisis in the private sector, which is then baled out by the people, then we move onto a sovereign debt crisis dictated by a betting frenzy in the markets, which deposed an elected PM in Greece and Italy, and will be again paid for by the people (via austerity). Brilliant system where some can gamble with other peoples' money, and ask them to pay when they lose! :wink:

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As I've said before, in principle, the Tory idea of ceasing to spend more than you earn and balancing the books, is a sound template for responsible long term fiscal management. However, it suppresses growth and lowers demand, with a downward spiral effect; and the idea that, by some miracle, the "private sector" will create the resurgence is frankly wishfull thinking. There has to be an economic stimulus to kick things off; (ie Gov spending); however, the secret is, to balance it within the long term dicipline of a balance budget. As for the Euro crisis, the Euro is still relatively strong on the currency markets due to the strength of the German econony; if the P.I.G.S left the Euro zone and devalued their new currencies, the residual Euro (pseudo Deutch Mark) would increase in value, making it almost impossible to sell German products abroad and raising cheap imports from "the PIGS"; thus Germany has to keep "the PIGS" in the Euro zone at all costs - and the cost will be theirs. :shock:

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But if Blair and Brown had not spent money that they didn't have, like it was going out of fashion, we wouldn't be in half the mess that we are.

 

Once again, the Tories have to put stringent measures in place to reduce the debt so that Labour can (when the Tories get kicked out for being sensible) come back and do what they always do, and that is get the country back into debt. :roll:

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Bliar and Brown were just part of the binge, which the capitalist system engaged in; it even permeated down to the people, with UK personal debt rising to a £trillion. Well now we've now got the hangover, and ironically, the cure requires some of "the dog that bit you" - IE a growth stimulant, which will require some borrowing to fund major infrastructure projects that will suck in private sector involvement, employ folk to pay taxes and spend in the high street. The secret is, to then strive for prudence and a balanced budget in the longer term. :shock:

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I think you will find Peter, the Tories agreed with what Labour did on spending when the crisis came, you have a short memory!

 

 

NO. I have a long memory. They did this the last time they were in office.

 

Possibly the "only" thing I remember. I don't have any time for any party, unlike yourself.

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You seem to do alot of defending of the Tories Peter, for someone who claims to have no party, and what party do you have me down for?

 

The Looney Party? Well you did ask.

 

Just to balance things a bit just for you, Nick Kije, I also remember when the Labour Party was for the common man. Now it is a Tory clone as is the Lib-Dems apart from the fact that Labour when in power follow the "Spend, spend,spend" philosophy of the first UK millionaire lottery winner. Viv Nicholson???

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The difference is Peter, in 1945 when the Labour was faced with clearing up the devastation caused by WW2 and paying back the Yanks for the privilage of loans to fight the war - they made sure they secured the necessary revenues to fund it - on the basis of from each according to their means to each according to their needs. Subsequent Labour Govs, especially Bliar's, went on a populist spending spree, without securing the revenues to fund it; in fact worse; they borrowed the money or mortgaged our g/kids futures to fund their spending. :(

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The Looney Party? Well you did ask.

 

Just to balance things a bit just for you, Nick Kije, I also remember when the Labour Party was for the common man. Now it is a Tory clone as is the Lib-Dems apart from the fact that Labour when in power follow the "Spend, spend,spend" philosophy of the first UK millionaire lottery winner. Viv Nicholson???

 

she won the pools; not the lottery! :D

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