Madmen in Authority

mbga9pgf

chucky wrote: »

he did and it's not far from still being it... there's an argument that maybe he shouldn't have but he did.

was his statement wrong. it's a simple answer, either Yes or No?

He might of for a short while. But then again, Hitler looked as if he had united europe for a while before he invaded russia.

He sacrificed the long term stability of the UK, not just the financial sector, for short term personal gain. He was a complete megalomaniac and having met the man, in 2006, I could tell something wasnt quite right with him. If you think London has any credibility as a financial centre, go visit Singapore or Dubai. They can afford to charge 0 effective tax rate to attract the business. Be interested to see what last years tax haul from financials was and compare it to 2006....

LauraW10

mbga9pgf wrote: »

The downgrade when it comes will last for a far shorter time than if we were going to carry on with the spend. What happens if we were to continue spending, as we did for 3 years after the credit crunch, then found we had all that extra debt and it didnt work?

Dont you get it? We exploded the deficit and it didnt change a thing, apart from conning thick Labour voters that it was all going to be ok, when really it wasnt? All we did was delay the inevitable, at massive cost, for the ego of one man, Gordon Brown.

OK if that is your opinion then I can respect your position. So why do most economist disagree with you? Why do they all say that cutting too soon will only leave us in an even worse position in the long run. Is it because all economists are socialists by any chance?

chucky

mbga9pgf wrote: »

He might of for a short while. But then again, Hitler looked as if he had united europe for a while before he invaded russia.

He sacrificed the long term stability of the UK, not just the financial sector, for short term personal gain. He was a complete megalomaniac and having met the man, in 2006, I could tell something wasnt quite right with him.

and so did most of the leaders of the major economies in the world because they've all get fundamental economic issues by your logic.

the UK is not alone and probably not in the worst situation, maybe not the best but not as bad as people like to make out.

mbga9pgf

LauraW10 wrote: »

OK if that is your opinion then I can respect your position. So why do most economist disagree with you? Why do they all say that cutting too soon will only leave us in an even worse position in the long run. Is it because all economists are socialists by any chance?

There are plenty of economists that agree that we need to cut now. And you cant make comments like "most" without substantiating them. Its not "Most" its some.

I would prefer to trust the CBI over some idiots who didnt spot the credit crunch predicted by supposedly crackpot websites like housepricecrash back in 2004.

Have a look at when https://www.creditcrunch.co.uk was registered as a website. It may surprise you.

mbga9pgf

chucky wrote: »

and so did most of the leaders of the major economies in the world because they've all get fundamental economic issues by your logic.

the UK is not alone and probably not in the worst situation, maybe not the best but not as bad as people like to make out.

I would say a deficit approaching 12% is pretty dire... I would say that the situation is going to get pretty serious and we will join those in dire economic waters SOON if we dont cut the deficit now.

Kohoutek

Degenerate wrote: »

"Voices of the market" are no such thing. The market speaks via bond prices and it's not shouting at the UK yet.

Completely agree. But I think that the government is trying to do what it thinks the bond market want - the government thinks that by imposing heavy austerity they are preempting an inevitable 'sterling crisis' or the UK 'becoming the next Greece'. Unfortunately as you say judging by gilt yields a crisis is not foreseeable in the near future, let alone inevitable.

chucky

mbga9pgf wrote: »

I would say a deficit approaching 12% is pretty dire... I would say that the situation is going to get pretty serious and we will join those in dire economic waters SOON if we dont cut the deficit now.

i'm not so sure but it definetly needs to be addressed. it's your view and you strongly believe that, it's cool.

tattycath

If GB and his cronies hadn't had the 'spend, spend, spend' philosophy we wouldn't be in this position where we need to make such drastic cutbacks to get us back on an even keel.

LauraW10

Kohoutek wrote: »

Completely agree. But I think that the government is trying to do what it thinks the bond market want - the government thinks that by imposing heavy austerity they are preempting an inevitable 'sterling crisis' or the UK 'becoming the next Greece'. Unfortunately as you say judging by gilt yields a crisis is not foreseeable in the near future, let alone inevitable.

And the coalition MUST know that - so I can only reach the conclusion that they are lying to the electorate! Why would they do that?

LauraW10

tattycath wrote: »

If GB and his cronies hadn't had the 'spend, spend, spend' philosophy we wouldn't be in this position where we need to make such drastic cutbacks to get us back on an even keel.

We are not in this position because of "spend, spend, spend" we are in this position because we bailed out the banks.