Ed milliband smoking crack....

PaulF81

http://www.telegraph.co.uk/news/politics/10103897/Ed-Miliband-Labours-spending-was-not-to-blame-for-Britains-economic-woes.html

Apparently it was nothing to do with Labour.

Asked whether he accepted that the “Labour party you were part of until 2010 spent too much”, he replied: “No, I don’t agree with that.
“You can take two views about this – you can either say that what happened was that the deficit caused the financial crash, or you can believe that the financial crash caused the deficit.

I find this man as repugnant as American schools teaching intelligent design.

A sick, sick man.

TruckerT

PaulF81 wrote: »

http://www.telegraph.co.uk/news/politics/10103897/Ed-Miliband-Labours-spending-was-not-to-blame-for-Britains-economic-woes.html

Apparently it was nothing to do with Labour.


I find this man as repugnant as American schools teaching intelligent design.

A sick, sick man.

Here is another quote from the same article...

"You can take two views about this – you can either say that what happened was that the deficit caused the financial crash, or you can believe that the financial crash caused the deficit.


“The reason why President Obama is having to deal with the deficit, and President Hollande is having to deal with the deficit, why every country around the world is having to deal with the deficit is because of the financial crash.”


Mr Miliband added: “I take responsibility for the most important thing which is that we did not regulate the banks properly, although that was regulators around the world, we did not get our regulation right and we take our responsibility for that.”

TruckerT

CLAPTON

the deficit in 2006/7 just before the financial crash was about the same as in 1997 when the conservatives fell from power

PaulF81

So, apparently it's not labours fault, but then goes on to say, actually, it was?

I'm declaring crack smoker.

Masomnia

http://www.telegraph.co.uk/news/uknews/1498897/EU-and-IMF-join-criticism-of-Brown.html

I post this every time when this comes up, but in 2005 (there are earlier examples as well) Brown was criticized for the size of his deficits. They can't say they weren't warned.

TruckerT

Masomnia wrote: »

http://www.telegraph.co.uk/news/uknews/1498897/EU-and-IMF-join-criticism-of-Brown.html

I post this every time when this comes up, but in 2005 (there are earlier examples as well) Brown was criticized for the size of his deficits. They can't say they weren't warned.

At the same time, large numbers of ordinary punters were telling the banks to stop lending silly amounts of money on mortgages.

TruckerT

Masomnia

TruckerT wrote: »

At the same time, large numbers of ordinary punters were telling the banks to stop lending silly amounts of money on mortgages.

TruckerT

This was when property was a taboo subject round the dinner table, I suppose.

PaulF81

TruckerT wrote: »

At the same time, large numbers of ordinary punters were telling the banks to stop lending silly amounts of money on mortgages.

TruckerT

Shame the government and the FSA weren't doing the same. Ordinary punters couldn't have stopped the crash. The government in power at the time could have

TruckerT

Masomnia wrote: »

This was when property was a taboo subject round the dinner table, I suppose.

Ordinary punters don't spend much time round dinner tables.

TruckerT

TruckerT

PaulF81 wrote: »

Shame the government and the FSA weren't doing the same. Ordinary punters couldn't have stopped the crash. The government in power at the time could have

The banks should have had better business sense - no other business sector would have qualified for unlimited bailout.

TruckerT

Thrugelmir

CLAPTON wrote: »

the deficit in 2006/7 just before the financial crash was about the same as in 1997 when the conservatives fell from power

Now with hindsight the decisions that were made can be pulled apart. Which ignores the fact Government spending was fuelled by credit led growth. The minute the taps were turned off Prudence was exposed for what she was, a mirage. Brown actually was clueless and made little to no difference to the economic running of the country.