Brown for Nobel Prize?

Rochdale_Pioneers

The article makes the blindingly obvious point that an international crisis can only be fixed by coordinated international action. Brown may be a one eyed idiot or whatever else you want to call him but he has understood this from day 1. Does he have all the answers? No - but he has a plan which everyone else seems to broadly agree with.

Well everyone that is except Cameron and the various resident nutters on here who want us to let banks go bust. You have to laugh at Cameron - he clings onto any international criticism of Brown for dear life insisting that it proves he is right. And yet when you look it this is precisely the opposite - Germany and France criticise the VAT cut as they unveil their multi-billion Euro liquidity injections. Noone else in the world is advocating a programme of spend less money than we are now. They may disagree on how to spend the money but all agree that the money has to be spent.

As time goes on the disconnect between the Tories and the global reality can only cause them increasing problems.

michaels

Dooooooooooooooonut wrote: »

Shut it Rochdale, you're going to be out of power for a generation

Surely as a professional political spammer as long as you are getting your employer's point across to as many potential voters as possible it doesn't matter who is paying your bills for each parliament...

ManAtHome

Rochdale_Pioneers wrote: »

The article makes the blindingly obvious point that an international crisis can only be fixed by coordinated international action. Brown may be a one eyed idiot or whatever else you want to call him but he has understood this from day 1. Does he have all the answers? No - but he has a plan which everyone else seems to broadly agree with.

The rest of the world agrees with the devaluation of the quid..? A very select few (NuLab and Times economists) may think this is in the spirit of "coordinated international action", but the G7/G20 pesky foreigners don't seem too sure.

Nobel prize for (ever yet more) smoke and mirrors maybe...

bubblesmoney

StevieJ wrote: »

Our Gordon does receive a lot of criticism, but should he really be nominated for this years Nobel prize in Economics Will we be looking back in a few years and saying thank god for Gordon :beer:

Good article
http://business.timesonline.co.uk/tol/business/columnists/article5636248.ece

why not?

if fred the shred and his HBOS buddy can both get knighthoods for service to the banking industry / economics.

then by that standard probably brown might get a nobel prize for economics.

Degenerate

ManAtHome wrote: »

The rest of the world agrees with the devaluation of the quid..?

Pssst, they're called floating exchange rates, the Bretton Woods system ended 35 years ago. It was the rest of the world that caused the recent devaluation by selling the pound.

ManAtHome

Degenerate wrote: »

Pssst, they're called floating exchange rates, the Bretton Woods system ended 35 years ago. It was the rest of the world that caused the recent devaluation by selling the pound.

Pssst Pssst - government policies occasionally have an impact on exchange rates - unless it's purely down to that Soros bloke again..? (presumably a better suspect than Troosers or aliens in tin-foil helmets..?).

Degenerate

ManAtHome wrote: »

Pssst Pssst - government policies occasionally have an impact on exchange rates - unless it's purely down to that Soros bloke again..?

Indeed they do, but Goverment policies do not set exchange rates, so talking about whether "The rest of the world agrees with the devaluation of the quid" is a complete red herring on your part.

ManAtHome

But in the context of this thread (which you have apparently not read) - talking the talk about international co-operation whilst slimiley trying to undercut competitors by ensuring devaluation doesn't (IMHO) put you in the top ten for a Nobel prize (but obviously you think it does..)

nickmason

Rochdale_Pioneers wrote: »

The article makes the blindingly obvious point that an international crisis can only be fixed by coordinated international action.

Yesterday I walked over a bridge in London and marvelled at this vast organic city, put together not by central planning but by the endeavour and entrepreneurialism of 100000s of different people.

And I thought then of the blindingly obvious point that you have alluded to, and that, however intuitive it might seem, that point is wrong. It is the fallacious axiom of the left.

Degenerate

ManAtHome wrote: »

talking the talk about international co-operation whilst slimiley trying to undercut competitors by ensuring devaluation

This is nonsense. The recent fall in the £ was caused by cuts in the base rate, an increasing deficit, and the perceptions of more to come. The £/$ drop was exacerbated by Fed interest rates bottoming out and massive repatriation of $ in a "flight to safety". Against the €, it was exacerbated by the ECB's recalcitrance in cutting their interest rates. (Which the Euro-zone economy appears now to be paying the price for.)

These are not "slimey" devalution tricks, they are necessary economic measures. Being able to set our own monetary policy was the chief advantage of staying out of the €, we are not beholden to their policy decisions. If the BOE was intervening in the money-markets there would indeed be just cause to cry foul, but when the market prices us down due to monetary & fiscal policy that's just a normal function of floating exchange rates. Brown has nothing to apologise for on that particular score.