Economy at 60-year low, says Darling. And it will get worse

lynzpower

lilac_lady wrote: »

New Labour has done no favours for ordinary people. The Tories won't do so either. (They sold off Britain's utilities for a short term profit.) I don't think that there's a political party worthy of trust today.

Please dont forget that Labour did introduce the minimum wage, and I think most of us would agree that was a good thing. I do remember working for 1.75 an hour in late 90s, and boy was life a struggle.

lethal0r

I am very doubtful as to how much influence ANY goverment can have over market forces. Im sure if the conservatives had been in power for the last 10 years things would broadly be the same right now.

WTF?_2

lethal0r wrote: »

I am very doubtful as to how much influence ANY goverment can have over market forces. Im sure if the conservatives had been in power for the last 10 years things would broadly be the same right now.

Likely lower levels of public borrowing and a smaller government sector. Which would be a definite improvement; Borrowing insane amounts of money to grow the public sector in a boom time leaving you broke when things go bad was insanity.

But probably no different wrt HPI and the debt culture that has gripped the public. All of the 'anglo' Western countries were on that bandwagon (and quite a few Euro countries too).

BettiePage

!!!!!!? wrote: »

Likely lower levels of public borrowing and a smaller government sector. Which would be a definite improvement; Borrowing insane amounts of money to grow the public sector in a boom time leaving you broke when things go bad was insanity.

But probably no different wrt HPI and the debt culture that has gripped the public. All of the 'anglo' Western countries were on that bandwagon (and quite a few Euro countries too).

What's your sig about?

WTF?_2

BettiePage wrote: »

What's your sig about?

http://www.cafepress.com/endoferrorshirt

jamescredmond

lynzpower wrote: »

Please dont forget that Labour did introduce the minimum wage, and I think most of us would agree that was a good thing. I do remember working for 1.75 an hour in late 90s, and boy was life a struggle.

yes, def a positive move.

I remember the CBI squealing that industry 'couldn't afford it' and it would cost 60,000 jobs.

all lies, of course.

pawpurrs

ahhhhhhhhh been wondering what !!!!!! sig was about for ages, thank goodness he has gone. (bush)

moanymoany

BettiePage wrote: »

What's your sig about?

I looked it up, and yours BettiePage - both very amusing I think.

dopester

!!!!!!? wrote: »

Sterling has been on the way down for the last week or so, I expect it to fall further. If these plans come to pass, it has no future.

On the other hand, the banks might do well as it seems the taxpayer is now set to take their most stupid, irresponsible loans off of their hands. It just keeps getting better for them -first tens of billions of secret bailouts and now this.

Sterling gets hammered if Gordon Brown gets his way for this ridiculous rescue package of the Government taking on dodgy mortgages. Would require 30-year gilts that will need refinancing over and over. Alistair Darling now has come to understand how wrong it would be - and the Treasury hates the idea. Fair play to Darling for standing against it. I hope he stays until Labour lose power.

The markets will turn on the UK if it deliberately does things to put its creditworthiness at risk and harms the markets interest. Smart money has better places to be invested.

RecoveringAlcoholic

And the Fat Cats just get fatter.