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'I messed up' - David Cameron
Comments
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The economy has had 200m pumped into it with various other schemes what did you expect? As I have said before if I lose my job abd someone gives me my wages for a year of course everything will seem fine on the surface for at least a year.
If Brown had been the leader of a private company he would have been fired by now. Why don't :abour just fire him and bring someone else in.
I expected the stock market to bounce and houses to flatten, I of course positioned my finances appropriately - Did you
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Well, not everyone can be right all the time. Pedantically I don't see what's wrong with "minimal regulation". Stating: "No private bank is allowed to lend more than 10% of the national government's GDP", is pretty minimal regulation and would have stopped the Icelandic implosion.Gives me the creeps, a South American Euro MP who doesn't believe in the European union
Oh and what was his view on Iceland before the meltdown
in which he advocated that other countries should emulate the Icelandic model of minimal national and international regulation as their model. :rotfl:
Even taking into account the out of context nature of that quote (he's on about regulations for consumer facing activity rather than backoffice stuff) Redwood is entirely right, and has been proven so. Most private banks have paid back government money with juicy bonuses for the taxpayer (outside of UK banks of course...). On the other hand you have $400bn owed by the government sponsored enterprises in the US after their decades long artificial warping of the property market thanks to government regulation.It is nearly as good as that Redwood classic
Conservative MP John Redwood, who heads the party’s economic competitiveness policy review group, will say on Friday that there is no need to regulate mortgages because the lender, not the customer, takes the risk.
http://www.timesonline.co.uk/tol/money/property_and_mortgages/article2251766.ece
Hannan, Redwood.. I'm surprised you didn't include Michael Howard for a triumverate of pantomime villains.
"The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
I expected the stock market to bounce and houses to flatten, I of course positioned my finances appropriately - Did you
Yes. As it became obvious that it was margin calls driving global stock markets down, not that companies in general being anyless profitable.
Thanks to QE, one of my investment trust holdings has geared itself up by borrowing at 1% and investing into high yield European stocks. A situation I find totally perverse. As doubt this was the intention of QE or Special Liquidity Scheme.
The longer the calm now , ultimately the longer the pain to rectify.0 -
I expected the stock market to bounce and houses to flatten, I of course positioned my finances appropriately - Did you
I did a little bit in shares but nothign special as I do not have the money to gamble. HPC's mouthpiece was talking up the market to above 5K so says it all for me. I'm not an armchair economist though.
The point I was making was that saying Labour did well with the economy in 2009 is like saying Ben Johnson was a great athlete IMO.0 -
Well, not everyone can be right all the time. Pedantically I don't see what's wrong with "minimal regulation". Stating: "No private bank is allowed to lend more than 10% of the national government's GDP", is pretty minimal regulation and would have stopped the Icelandic implosion.
Even taking into account the out of context nature of that quote (he's on about regulations for consumer facing activity rather than backoffice stuff) Redwood is entirely right, and has been proven so. Most private banks have paid back government money with juicy bonuses for the taxpayer (outside of UK banks of course...). On the other hand you have $400bn owed by the government sponsored enterprises in the US after their decades long artificial warping of the property market thanks to government regulation.
Hannan, Redwood.. I'm surprised you didn't include Michael Howard for a triumverate of pantomime villains.
U-n-b-e-l-i-e-v-a-b-l-e :eek:'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
.
The point I was making was that saying Labour did well with the economy in 2009 is like saying Ben Johnson was a great athlete IMO.
Rubbish, the Labour government and the BOE took actions to mitigate what could have been a catastrophe if the policies put forward by the Tories had been implemented. Having said that what the Tories were proposing in opposition and what they would have actually done are probably the equivalent of chalk and cheese.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Have their policies been proved right yet? Higher house prices are not everything. There is no evidence as of yet that QE is doing what it was intended to do. I remember GB telling the failed banks that they had to Lend at 2007 levels to businesses etc is this happening yet? Our failed banks are still broken etc. The public are spending as would be liked. Whether GB will admit or not they expected quater 3 GDP growth and they did not get it.Rubbish, the Labour government and the BOE took actions to mitigate what could have been a catastrophe if the policies put forward by the Tories had been implemented. Having said that what the Tories were proposing in opposition and what they would have actually done are probably the equivalent of chalk and cheese.
QE may work but its way t early to say Labour were great in 20090 -
I did a little bit in shares but nothign special as I do not have the money to gamble. HPC's mouthpiece was talking up the market to above 5K so says it all for me. I'm not an armchair economist though.
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What gamble ? I thought you inferred that it was obvious BTW none of the HPC mob on here were talking the market up, unless you wanted to invest in the Heinz company of course 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
What gamble ? I thought you inferred that it was obvious BTW none of the HPC mob on here were talking the market up, unless you wanted to invest in the Heinz company of course
Dont know about here but FP was talking it up on HPC. Many were laughing at him but he was talking it up.
As I said before I'm not an wanabe economist so would not put alot of money in anything personally that I did not know a whole lot about. Maybe I used the wrong word when I said obvious should have said likely0 -
Have their policies been proved right yet? Higher house prices are not everything. There is no evidence as of yet that QE is doing what it was intended to do. I remember GB telling the failed banks that they had to Lend at 2007 levels to businesses etc is this happening yet? Our failed banks are still broken etc. The public are spending as would be liked. Whether GB will admit or not they expected quater 3 GDP growth and they did not get it.
QE may work but its way t early to say Labour were great in 2009
Tell you what, it looks like we may just have avoided what many were predicting as at least as bad as the 30's recession, along with a total collapse of the financial system 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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