BoE to start printing money

StevieJ

New_Gold_Dream wrote: »

Yes I remember you telling us you haven't always lived in the uk !!!!!!.
So Zimbabwe eh? How come you left?

I forgot about that.

mr.broderick

StevieJ wrote: »

I forgot about that.

What's the story here? Is Wookster !!!!!! or not?

Rochdale_Pioneers

vintage1977 wrote: »

I have to say, I quite like the notion that having William Hague, Ian Duncan Smith and Michael Howard run the country for the past decade would have led to us being in a better position today. I don't buy it, but I like the sound of it.

The problem is that the Tories have been consistent in accusing Labour and Brown in particular of over-regulating the city and financial markets. Whereas now they are attacking Brown for failing to regulate them enough. Which is fine - thats what oppositions are supposed to - but don't think for a second that the Tories would have avoided the mess.

What you then have to ask is what even less bank regulation would have looked like. Would our banks have been free to borrow oceans of foreign cash to fund foreign deals as banks have in Ireland, Iceland and Austria? What level of banking crisis would that have brought? I doubt that government borrowing would have been drastically lower - Clarke admitted that he wouldn't have stuck to his own spending targets in the late 90s as Brown did (which means he wouldn't have had the cash to pay off the amount of debt that Brown did in the first term), and whilst Tory governments talk tough on public spending they actually do invest in public services (as a glance at the records in the 80s will demonstrate).

So, in my view a Tory administration would have reduced public debt - but not by that much - and would have allowed our banks to dig themselves into an ever bigger hole than they are now in. And that would mean an even bigger sum of cash to spend bailing them out.

Political rhetoric is one thing. Record in office and stated policies is another. Don't listen to soundbites, look at the substance.

mr.broderick

Generali wrote: »

Frankly nobody has the answers to the questions being asked currently.

Some people put themselves up to gives answers authoritatively and with gravitas but frankly (and speaking as someone who predicted this debacle) there is not one single person on this planet who knows how it'll play out.

Lots of people will make predictions and a few will get lucky but not one single person knows.

Even so it is quite nice to read good informative posts from you gen, must admit wookster has contributed some nice stuff today even though it chokes me to admit it

StevieJ

mr.broderick wrote: »

Even so it is quite nice to read good informative posts from you gen, must admit wookster has contributed some nice stuff today even though it chokes me to admit it

I know I had to thank him

StevieJ

mr.broderick wrote: »

What's the story here? Is Wookster !!!!!! or not?

Don't bring me into it! I will have that verbose Devon character on my back again :eek:

drum_3

Generali wrote: »

Frankly nobody has the answers to the questions being asked currently.

I've cancelled that trip to the stockbrokers and made an appointment with Mystic Meg instead!

mr.broderick

StevieJ wrote: »

Don't bring me into it! I will have that verbose Devon character on my back again :eek:

Who? carot? She has been banned.

lostinrates

Actually, its lovely to sit, read and try and understand discussions.

mr.broderick

lostinrates wrote: »

Actually, its lovely to sit, read and try and understand discussions.

Then the forum was worth it.