Osborne Loses It - Our Triple A Rating And Its Future

Thrugelmir

StevieJ wrote: »

I think the chalice that Thatcher inherited was not quite as bad as some make out,

Someone had to break the power of the Unions........

At the time I belonged to a Union (ASTMS). Around 50% of the Company's membership resigned overnight. Once it became apparent that the Union was dominated by politics not the interests of its members.

StevieJ

Thrugelmir wrote: »

Someone had to break the power of the Unions........

At the time I belonged to a Union (ASTMS). Around 50% of the Company's membership resigned overnight. Once it became apparent that the Union was dominated by politics not the interests of its members.

I suppose she had to pave the way for a flood of immigrant workers to undermine the lot of the British workforce

coastline

Graham_Devon wrote: »

It's hardly a fair comparison though is it. Both datasets compares a recessionary environment against a growth environment.

Obviously, debt is going to rise in a recession. Infact, it's what people are moaning about....that it's nor rising fast enough (taking on debt to provide growth).

heres another chart...from 1978 onwards...showing both Tory and Labour...theres hardly a year wheres theres no growth.



yet on here both parties are running a budget deficit for most of the period...

LauraW10

You've got to be really quite worried about a AAA downgrading and the state of the UK debt - we might start losing the least ugly currency competition and pound weakness could lead to even more nasty in inflation - 2013 could be quite ugly.

BertieUK

Thrugelmir wrote: »

I'm struggling to recall what Labour have actually said of a constructive nature. Other than relying on a mirage of "growth". Though since the almost global slowdown. They've gone very quiet on this topic.

Remind me what is Labours plan to balance the books?

It could be that, like the Conservatives, they have not got a clue either how to kickstart the economy, or are they 'keeping their powder dry' to use as their trump card when the times comes.

Most of them are in theatre at the moment, which theatre we can only imagine.

Thrugelmir

coastline wrote: »

heres another chart...from 1978 onwards...showing both Tory and Labour...theres hardly a year wheres theres no growth.

Which started with the deregulation of the banks in the early 70's.

Thrugelmir

BertieUK wrote: »

It could be that, like the Conservatives, they have not got a clue either how to kickstart the economy,

Be illusory to even suggest you can kickstart an over indebted economy. Governments can only set the framework for the future.

Thrugelmir

LauraW10 wrote: »

You've got to be really quite worried about a AAA downgrading and the state of the UK debt - we might start losing the least ugly currency competition and pound weakness could lead to even more nasty in inflation - 2013 could be quite ugly.

There's no control over imported product prices. So inflation of the bad kind will be around for some time.

Given there's no productivity growth in the UK (not GDP but output per head). Little sign of good inflation at the moment.

Often gets overlooked that there are 2 kinds.

BobQ

Thrugelmir wrote: »

Someone had to break the power of the Unions........

At the time I belonged to a Union (ASTMS). Around 50% of the Company's membership resigned overnight. Once it became apparent that the Union was dominated by politics not the interests of its members.

A trade union is its members not some abstract body they pay fees to. If 50% of your mebership did resign as you claim, why did they not just vote for one of their number to stand for the trade union committee? Then they could have influenced its policies to be the moderate beast most of you apparently wanted?

Thrugelmir

BobQ wrote: »

A trade union is its members not some abstract body they pay fees to. If 50% of your mebership did resign as you claim, why did they not just vote for one of their number to stand for the trade union committee? Then they could have influenced its policies to be the moderate beast most of you apparently wanted?

There was far more extremism in those days within parts of the Unions. Far more leaning towards communists ideals. (Which of course totally came down with the fall of the Wall). Wasn't the New Labour politics of today. Striking (we lost pay) was the biggest bug bear.

The world has changed considerably since the early 70's. Suspect its just about to again. As feels like the end of an era.