60 Economists support delaying cuts.....

abaxas

StevieJ wrote: »

Not sure what you mean? first negative GDP was Q32008 and recession wasn't confirmed until Jan 2009. So they started to take action before we were officially in recession.

The crisis hit before then,, was it oct or nov 2007?

So it's >2 years now and if we dont get the required cuts byt 2011, it'll be >3 years from the crisis start to actually starting to fix it.

Maybe the old British Rail management is now in the government.

stonethrower

moggylover wrote: »

I was one of those that argued against! I know many of those that argued against and I know VERY few who have changed their minds;) Don't believe everything you hear in the media:D

No I dont but it was economists who admitted they were wrong but if you dont agree you must be right

peterg1965

Is moggylover another Labourite socialist apologiser?

Were those 60 economists all paid up members of the Labour party?

baby_boomer

Click on this link to see the amusing Brookes cartoon in today's Times which sums up just how diametricly opposed many economists actually are, and how the different factions will be used by both main parties as the election approaches

Consensus there ain't. And both lots can't be right .

StevieJ

stonethrower wrote: »

No I dont but it was economists who admitted they were wrong but if you dont agree you must be right

Are you sure it wasn't the recession before last early 80's and 364 economists

Mrs Thatcher and Howe faced stiff opposition to this Budget, not just from the Labour and Liberal parties, but also from their own back benches. Their determination was really put to the test, however, when 364 economists signed a letter to The Times stating that there was "no basis in economic theory or supporting evidence" for the policy that the Budget was seeking to implement, that it threatened Britain's "social and political stability", and that an alternative course must be pursued.

it is said that Mrs Thatcher was asked in heated debate in the Commons whether she could even name two economists who agreed with her. She replied that she could: Patrick Minford and Alan Walters.

BTW most of the economists, (I think Mervyn King was one of them) did not accept they were wrong the general population are still suffering the consequences today.

StevieJ

peterg1965 wrote: »

Is moggylover another Labourite socialist apologiser?

Were those 60 economists all paid up members of the Labour party?

Are you another Tory lapdog

Conrad

abaxas wrote: »

Qualifications are useless in any field, practical experience always trumps it.

Spot on.

A book published in 2006 called 'The Puritan Gift' argued UK and US companies were run by the wrong people, invariably those with a BA in business, that typicaly retain positions on various boards as they can 'run anything'.

We've forgotton the benefits an MD that started in the post room can bring.

It's a key reason we had the credit crunch.

Even today I'm witnessing Santander turn Abbey and A&L into quagmires.
I'm not exagerating when I say almost every potential client tells me they or someone they know has had a recent bad experience with them.

Classic case of a large firm being run by out of touch generals that simply do not have a clue of what goes on at the coal face.

I recently bought a SAAB (needed an automatic fast as I'd ruptured my achillies) and traded in my 2004 AUDI.
I'd bet the heads of GM / SAAB have not a clue about the many common sense things thier designers have missed. Examples - the boot is very difficult to open as the catch is badly designed. Radio reception is poor. Tiny weeny lights on some operations such as the on/off for the fan - so tiny that you cant 'at a glance' tell if its on - thats typical of bad design / managment - I bet whoever designed it did'nt think to see how visible the lights are when actually driving especially in daylight.

Both managers and engineers are usualy very poor at real world delivery. Try opening a pack of tescos bacon as an example.

Wookster

Rochdale_Pioneers wrote: »

I wouldn't expect the economists to agree anyway. They didn't do before they all missed the crash, why should they do now?

Anyway, my view on this is to go with the consensus. The 60 economists arguing in favour of delaying cuts are in concert with the IMF, OECD, and every major government. The 20 are in line with Branson, Osborne and err thats it.

I wandered how long it would take for you to turn up. This sort of thread is just the sort of thread you get all excited about.

Do you really believe that just because 60 economists say don't cut compared to 20 saying otherwise, that the 60 are correct?

The point that hasn't been made (yet) is that budgetary cuts to a deficit of £80bn in 4 years is simply neither good enough nor credible.

moggylover

peterg1965 wrote: »

Is moggylover another Labourite socialist apologiser?

Were those 60 economists all paid up members of the Labour party?

No I'm not. I am a socialist and Nu-labour have very, very little to do with socialism and just a slightly better formed conscience than the Tories;).

IF I were to be apologising (which I am not) it would be for the dreadful mess that monetarism has made of our economy: but then I always said it would because you really cannot allow a fat cat loose with a mouse and expect the mouse to survive;)

stonethrower

StevieJ wrote: »

Are you sure it wasn't the recession before last early 80's and 364 economists

Mrs Thatcher and Howe faced stiff opposition to this Budget, not just from the Labour and Liberal parties, but also from their own back benches. Their determination was really put to the test, however, when 364 economists signed a letter to The Times stating that there was "no basis in economic theory or supporting evidence" for the policy that the Budget was seeking to implement, that it threatened Britain's "social and political stability", and that an alternative course must be pursued.

it is said that Mrs Thatcher was asked in heated debate in the Commons whether she could even name two economists who agreed with her. She replied that she could: Patrick Minford and Alan Walters.

BTW most of the economists, (I think Mervyn King was one of them) did not accept they were wrong the general population are still suffering the consequences today.

I'm sure the newsreader said last recession