Is Gordon Brown an economic illiterate?

StevieJ

grubby23 wrote: »

The problem is that the RPI and CPI inflation indices are obviously fixed to hide the real
inflation figures. But in some way you need to pay respect to GB for b*llsh*ting a whole nation with wrong unemployment and inflation numbers, he seems to have the right skills for individual success

Hasn't he noticed the inflated property and stock market prices over the last decade thanks to the low interest rate.

BTW you must have been watching a different stock market to me the Ftse 100 closed on the 3rd May 2000 at 6185, today it stands at 5553 :eek:

kabayiri

I heard on the radio that Gordon is not motivated by money. He is definitely not a MSEer...

This might be the problem. His nature might be to spend, and worry about the cost afterwards. Ever thought of that? That's different to being illiterate on finance.

We do know these people exist.

Right now, we need a spendthrift who is always chasing maximum value, trying to earn money in any place possible.

StevieJ

kabayiri wrote: »

I heard on the radio that Gordon is not motivated by money. He is definitely not a MSEer...

This might be the problem. His nature might be to spend, and worry about the cost afterwards. Ever thought of that? That's different to being illiterate on finance.

We do know these people exist.

Right now, we need a spendthrift who is always chasing maximum value, trying to earn money in any place possible.

But he is Scottish

Malcolm.

kabayiri wrote: »

I heard on the radio that Gordon is not motivated by money. He is definitely not a MSEer...

And you believed him(?) - interesting...

A._Badger

The myth of Brown's 'genius' should be laid firmly at the feet of the Left-dominated sections of the media. Early in Blair's regime, they worked hard to convinced us that this man, who has no experience of business and whose PhD is apparently in some footling aspect of Scottish Labour party history, was brighter than the average potato.

In truth he just did what others before him had done: he printed money, turned the taps full on, stuck his fingers in his ears and chanted 'la la la' when realists warned about inevitable outcome.

grubby23

StevieJ wrote: »

Hasn't he noticed the inflated property and stock market prices over the last decade thanks to the low interest rate.

BTW you must have been watching a different stock market to me the Ftse 100 closed on the 3rd May 2000 at 6185, today it stands at 5553 :eek:[/QUOTE

Thats interesting, well than we say all the money went into the house prices .
3rd May 2000 was this before or after the dot com bubble burst?

Asheron

Hi!

Might be a surprise to you, but Gordon Brown is told what to say and do.

They are going to destroy the middle class.

I would not call anyone earning less than £250,000 a year middle class

And if you don't care about the middle class, remember they are probably paying your salary.

grubby23 wrote: »

Hi,

I am not a economist, however, I think GB is even in his field of expertise - which is apparently the economy - quite clueless. He was saying in the last TV debate that he wants to keep inflation low with low interest rates. How on earth should that work? Hasn't he noticed the inflated property and stock market prices over the last decade thanks to the low interest rate.

This guy is a liability for UK Ltd and I am still surprised that 1/3 of the population consider voting for such a clueless man.

DaddyBear

Malcolm. wrote: »

Nothing surprises me... I'm a scientist. (slight alteration of an Indiana Jones quote)

Actually I have the opposite problem. My background is entirely maths and science based. I try to look at the economy and housing Market logically but it just makes no sense at all.

CLAPTON

grubby23 wrote: »

Hi,

I am not a economist, however, I think GB is even in his field of expertise - which is apparently the economy - quite clueless. He was saying in the last TV debate that he wants to keep inflation low with low interest rates. How on earth should that work? Hasn't he noticed the inflated property and stock market prices over the last decade thanks to the low interest rate.

This guy is a liability for UK Ltd and I am still surprised that 1/3 of the population consider voting for such a clueless man.

Industry likes/needs low interest rates as it encourages them to invest and expand employment and will help us get out of recession.

in my view the continuing mistake being made by all the political parties is to image that interest rates virtually alone can form an effective economic policy.
we need low interest rates for economic growth but other quantitative control of mortgages i.e. LTV ratios, salary multipliers to control the housing asset bubbles.
It's arguable that low interest rates were not the cause of the housing price boom but self cert BTL mortgages, salary multiples of x 6 salary, LTV ratios of 125% etc

LizEstelle

Economic illiteracy?

Would that be the kind which says 'don't rescue the banks' when they're in meltdown, together with all your current and savings accounts..?

That kind of economic illiteracy?

Shall I go and ask some Northern Rock, LLoyds etc etc etc etc savers whether they agree with this very serious and well-thought-through mainstay of Camertoff economic philosophy?

Scratch Camertoff's 'ideas' and you reveal the economics of the smarmy, I'm-all-right-Jack, public school bully.