"Apologise ?, Get Real"- Quote from Brown at 30,000 feet.

treliac

jay3 wrote: »

Jen, I like this line particularly - it sums up very succinctly what I think is at the heart of the doctrine that has led us (and as you say, most of the world by association/consequence) to disaster:

"a utopian faith in self-regulation
has led repeatedly to exuberances of this kind in the rise and fall of market economies."

Whichever government takes over here and in the US must learn this lesson. But would I bet on it staying learnt?...nope

Mmm, self-regulation - a lovely idea and favoured by liberal thinkers. In practise, though, it doesn't work because people aren't, by design, self-regulating. Unfortunately, greed, self-promotion, disregard for others, etc. etc. interferes for far too many.

A._Badger

So that means... regulation by whom?

If, by your reckoning, people are too venal to self-regulate, what makes you believe politicians aren't people?

And doesn't all the available evidence tell us that they really, really are? And no more fit to regulate than the alligators in the zoo should be deciding who is for tea?

Generali

Apparently this was put together by the Tory Party central office. Who knew they have a sense of humour:

http://www.sorryfromgordon.com/

?

st

Jennifer_Jane wrote: »

Which specific countries constitute this global economy, bendix? I ask because I have posted ad nauseum the effect of the US/UK exporting recession to the developing countries. The lack of regulation (or rather the allowance of greed and gambling within the US/UK banking sector) have led to a global recession. But, make no mistake, it did not start anywhere except US/UK.

Jen
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well said Jen too much easy credit also ,germany and Italy have problems yes bit not the huge public debt that we have together with the USA all due to the relaxation of the Banking regulations after 1997 by the then Chancellor Gordon McBroon for which the clown will not admit ,same as his raid on pension funds and the selling of our Gold at the lowest price ever -

Jennifer_Jane

Hi st, nice to see that you and I are both straddling (sic) the 'correct toilet methods' thread as well as this.

Jen
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Rochdale_Pioneers

st wrote: »

well said Jen too much easy credit also ,germany and Italy have problems yes bit not the huge public debt that we have together with the USA

Germany and Italy have much greater public debt than we do. Well thats according to the IMF - I'm sure your rhetoric is based on better facts than their analysis.

Jennifer_Jane

Rochdale - any ideas when the actual figures for 2008 will be out, and not the 'estimated' plus forecast for 2009/10?

Jen
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