Is Gordon Brown an economic illiterate?

CLAPTON

DaddyBear wrote: »

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.

have you read an economics book?

grubby23

I guess this sums the 13 years of Labour very well up:

"Instead of a gentle winding back of State borrowing to a sustainable level the Government will ensure that expenditure spirals every upwards as it desperately tries to stimulate an economy that was flooded with cash for a decade, which borrowed itself to 'prosperity' and which has lost the ability to generate real wealth. The only real challenge for the British Government in the next few years will be to find new ways to hollow out the historical wealth of the nation so that things can keep going for a bit longer."

LizEstelle

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.

I am not a [STRIKE]Tory Central Office manipulator[/STRIKE] economist. However, I think that GB is the Spawn of the Devil and eats children for breakfast.

grubby23

LizEstelle wrote: »

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..?

What I thought was absolute disgusting was the bailout of savers that had money in Iceland. They got high interest, so obviously there is a higher risk that the money could be lost. On the other hand, it was just 2-3 Billion pounds, does not really make a difference with the debt we have right now anyway.

amcluesent

"Therefore there is nothing announced in the governments targets nor any change in economic circumstances that warrants amending the total liabilities target of £4.75 trillion by the end of 2013/14, which confirms that Britain remains firmly on the path of a probable decade of economic stagnation coupled with high inflation i.e. stagflation."

Clown - "I have saved the world! Hoots!"

kabayiri

Malcolm. wrote: »

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

It wasn't him talking. It was 'those' around him. The political commentators, etc...the entourage

Certainly he didnt indulge in the expenses anywhere near the extravagances of his duck-house colleagues.

The belief thing is interesting. All we have to go on is what people say about others. I guess you start with a measure of trust.

Malcolm.

DaddyBear wrote: »

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.

People are market makers. I think people are often more emotional than rational, so the market doesn't behave rationally.

I've read some articles which blame the boom (and subsequent bust) on high testosterone levels...

cajef

LizEstelle wrote: »

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..?

And do not forget selling off our gold reserves for peanuts, landing us with the biggest ever national debt that our children will be paying off for years, robbing the pensioners, telling lies about our armed forces and calling people bigots behind their backs.

This was the prudent chancellor who supposedly ended boom and bust and is now our PM without being elected, I would not trust him to run a market stall.

Kohoutek

Most politicians are economically illiterate - otherwise why would they be in politics?

Of course Gordon Brown is economically illiterate. He expanded the public sector budget every year when our economy was booming, and borrowed money on top. By doing this he didn't leave any margin for error that we could have a small recession, let alone the worst since the Great Depression. That's why our deficit is so big.

abaxas

Anyone who belives that wealth gerneation is not important, is economically illiterate.

So that's Labour and the Lib Dems !!!!ed. *

*including sir vince of I saw it coming.