It's all Browns Fault

Wookster

Rochdale_Pioneers wrote: »

Have Labour got things wrong? Absolutely. Did the Tories? Absolutely. Some of you talk like one party are always right and the other are always wrong - real life doesn't work like that.

That's very rich coming from you, given that you defend every single Labour policy/ decision that's been taken.

tomterm8

Rochdale_Pioneers wrote: »

The funny thing is that you could snapshot the previous decade and say exactly the same thing. Lawson took an economy once again back in good health and created a huge boom and bust, which then got worse through targeting exchange rates and ignoring all the other areas like interest rates and inflation. Have Labour got things wrong? Absolutely. Did the Tories? Absolutely. Some of you talk like one party are always right and the other are always wrong - real life doesn't work like that.

I think the problem is people blame governments for recessions, and booms, when the reality is that governments as a rule can't really affect such things. Governments can mess the economy up, but no government can legislate against recessions.

Personally, I think the labour government has been bad for us on matters such as civil liberties, bringing us into an illegal war in Iraq and an legal but possibly unwinnable war in Afghanistan, and has introduced too much regulation in some areas and too little in others.

But I think for all the talk, there was a consensus on how to regulate the banks between Labour and Conservatives. The doctrine of free markets, light touch regulation and independant cental banks was common to both parties. Economics has a remarkable lack of economic historians, who know banks regularly screw up and cliff dive like lemmings.

i don't think it's all labours fault, I think they implemented the consensus dogma of the last twenty years. Which, as dogma's go, is pretty much as daft as communism.

nickj_2

i think brown could have read the warning signs and reacted to them instead of letting things come to the inevitable disastrous ending -
i would have thought that when consumer debt touched £1trillion would have done for starters , the huge multiples of income that people were having to borrow to get on the housing ladder , the fact that when the last house price crash occured , the average h p was not over £100k , did they really think that they would keep on rising forever , the b of e should have hiked interest rates up much sharper than the odd bit here and there , it would have taken the heat out of the housing market and encouraged more saving .

if he was emplyed by a proper business he would have been fired for his efforts